Envoy sees huge investment potential in Kyrgyz banking, tourism sectors

The 30th anniversary of the independence of Kyrgyz Republic was marked at Embassy premises on Tuesday (August 31) with the participation of members of Kyrgyz expatriate community and other guests.

The ceremony started with national anthem while a cake was also cut by Ambassador of Kyrgyzstan to Qatar H E Chyngyz Eshimbekov. 

Talking to The Peninsula at the event, Ambassador Eshimbekov said that Qatar and Kyrgyzstan share common Islamic heritage and traditions therefore the relations between the people of two countries are centuries old.

“The ties existed much before the establishment of our diplomatic ties.”

 He said that it could be an interesting subject for historians of both countries to further explore the history of these ties. “Both the countries share common heritage and common values.”

In modern times, the Ambassador noted, bilateral ties are developing with forward-looking approach with a lot of hopes and a strong desire to develop relations for mutual benefits through establishing economic partnerships.

He said that Qatar is contributing to Kyrgyzstan’s development with certain programmes and initiatives. 

“For example, Qatar Charity has launched many initiatives in Kyrgyzstan and has completed many projects for which it received an award from the government of Kyrgyzstan,” he said, adding that these projects are of considerable importance for Kyrgyzstan.

Talking on trade ties, the Kyrgyz Ambassador said: “There is a lot of untapped potential in terms of trade and investment. We look forward that direct flights will soon be established between the two countries which will enhance engagement in bilateral fields of economy.”

Eshimbekov noted that Kyrgyzstan could help Qatar in the field of food security. “We have many export related food items. Our mountain white honey has already hit Qatari markets and is widely liked by customers. Now we are trying to bring a range of other products like meat.”

He said that Kyrgyzstan and Qatar had a solid base of a number of bilateral pacts on which future relations could be easily expanded. “The missing part I think is engaging private sector proactively.”

The Ambassador said that there was huge potential in banking, tourism sectors of Kyrgyzstan for Qatari investments. 

“Kyrgyzstan is offering stakes in large government-owned companies. It is another venue for aspiring Qatari investors.”

Eshimbekov said that the government of Kyrgyzstan had also introduced amendments in public-private partnership law. 

“Private companies from Qatar can invest in building hydro power plants, trade and logistic parks as well as in establishment of free economic zones and other industrial projects under public-private partnership.”

He also thanked Qatar for providing medical assistance to Kyrgyzstan to address COVID-19 pandemic challenge. “In very difficult times last year, Qatar came to help us with brotherly humanitarian assistance including medical equipment, PPEs etc.”

 He admired Qatar’s preparations to host 2022 FIFA World Cup. “We admire all astonishing sports facilities and infrastructure Qatar has developed to host the mega sporting event next year." 

"We look forward to contribute from our side," he said.

To a question, the Kyrgyz Ambassador said that around 600 Kyrgyz nationals were residing in Qatar who were mainly employed in hospitality, services sectors. “The number is growing with the passage of time.”

Terming tourism a promising area of cooperation between the two countries, the Ambassador said, “We are hosting tourists from all Gulf countries but Qataris have yet to discover Kyrgyzstan. On opening of direct aviation links, the number of tourists will definitely increase.”

As seen on Peninsula Qatar  Image Credits Peninsula Qatar