Kyrgyzstan launches construction of car production plant
President of Kyrgyzstan Sadyr Zhaparov laid a capsule for the construction of an enterprise for the production and sale of cars in the Sokuluk district of Chui region, Kabar reports.
The main activity of the project is focused on the assembly of electric vehicles, commercial and passenger cars, special equipment, as well as the sale of vehicles and related products on the international market.
The construction and launch of the enterprise is being implemented by the Cabinet of Ministers of the Kyrgyz Republic, local enterprises together with the Chinese company China Hubei Zhuoyue Group. The volume of investments in the first stage will be 115 million US dollars, the design capacity is more than 80 thousand cars per year.
In his speech, President Zhaparov noted that the ongoing investment policy, including the provision of tax preferences, creates favorable conditions for investors. The president especially emphasized that without attracting foreign investment it is impossible to achieve rapid economic development. He expressed confidence that this investment project will give a great impetus to the development of the automotive industry of the republic, increasing the industry’s share in GDP and creating additional jobs.
Sadyr Zhaparov emphasized that along with ensuring favorable conditions in the industry, it is necessary to strive to create a national automobile brand of Kyrgyzstan through the production of cars, the production of auto parts for import and the development of international trade.
The president indicated that achieving this goal will eliminate obstacles that hinder the development of this industry, reduce associated costs, increase the country's economic income and create jobs.
The head of state noted that such a large project, which is being implemented in the country, needs full support and wished that this enterprise would become an important beginning for creating the “Made in Kyrgyzstan” brand.
Chinese Ambassador to the Kyrgyz Republic Du Dewen said that the start of the project is the result of a strategic partnership between the two countries. She thanked the Sadyr Zhaparov for his personal attention and support for business cooperation between the two countries and expressed hope that, thanks to common efforts, the project will be implemented and become exemplary in deepening interaction between Kyrgyzstan and China.
The launch of the enterprise for the production and sale of cars is expected in August of this year.
