Population: 6.694 million (2021) World Bank
Currency: Kyrgyzstani Som (KGS)
Time: UTC+6 (KGT)
- The country is a member of the World Trade Organization and of the Eurasian Economic Union.
- The economy is highly dependent on gold exports (about 10% of GDP) followed by textile and agricultural products. Small and medium enterprises are the dominant types of firms in the agriculture and services sector.
- Hydropower, mining, agriculture, tourism, education, and digital economy are high priority sectors for the Kyrgyz Government with significant potential to boost growth, attract large scale private investments, and generate earnings for the country.
- Multi-billion pound regional inter-governmental infrastructure projects committed by governments for hydropower and railway construction.
- Kyrgyzstan is the only country in Central Asia whose water resources are almost completely formed on its own territory, which gives the country hydrological advantages. However, only a small fraction of Kyrgyzstan’s hydropower potential is utilised today.
- There are opportunities for British firms to engage in projects related to modernisation of infrastructure, grids, transmission, construction of new power plants based on renewable energy, and consultancy.
- The financial sector development strategy focuses on speeding up digitization and expanding access of the population to financial services, developing green finance and Islamic finance services and improving cyber resilience.
- Government is taking steps to optimize the management of state-owned assets, develop the Kyrgyz Stock Market and modernize its infrastructure.
- With a need for wider partnerships and expertise - this sector could present strong growth opportunities for UK finance and consulting firms.
- About 18% of labour force is employed by the agricultural sector which accounts for about 15% of GDP.
- Equipment and machinery modernization, livestock development, technical assistance in increasing production efficiencies, value add opportunities, adoption of international food safety standards and improving export potential are opportunity areas for UK businesses.
Digital and Creative
- Development of the digital economy is another priority sector for the Kyrgyz government, driven by special tax regimes for the High Technology Park and Creative Industries Park. UK as the world-renowned creative powerhouse is well positioned to engage with this dynamic business community.
- E-commerce is also growing supported by the strong ecosystem of players, government support and rapid adoption of digital technologies.
- Kyrgyzstan has a well-educated young population more than half (56%) of which is under 30 and eagerly adopting English language and computer skills.
- The new Law on Education is expected to reform the sector and the UK could become a strong partner of choice for offering teacher trainings, education technologies, joint programs and vocational trainings.
To learn more about the UK’s trade relationship with Kyrgyzstan, visit hereopens www.gov.uk in a new tab and contact EECAN.ExportHub@fcdo.gov.uk to discuss the opportunities in the region.