Future Growth Initiative (Kyrgyz Republic)

USAID’s Future Growth Initiative spurs productive economic activity across Central Asia, with the goal of increasing competitiveness of local businesses, creating new jobs, and improving incomes for local workforce. 

• Fostering competitive industries through expansion into new target markets (regionally or globally) to increase sales and exports, while attracting local and international investment.
• Developing entrepreneurship and a capable workforce through targeted trainings to create new jobs or improve current ones.
• Creating conditions for jobs and investment by supporting policy change through public-private dialogue, analysis, and application of global standards.

ACHIEVEMENTS IN THE KYRGYZ REPUBLIC

The project has provided support to 26 companies and organizations and co-invested in expanding their businesses since 2019. USAID’s assistance helped these businesses attract new investments, meet international management, quality and trade standards, connect with international buyers, improve management, introduce digital solutions and automatization. 

Since 2019, more than 900 representatives of businesses, women and youth entrepreneurs went through different trainings sessions. They learned about the latest startup trends for growth, sales, fundraising, and scalability of business concepts from renowned international experts and mentors.

Through the project USAID has been assisting the IT community to build bridges between the Kyrgyz and foreign markets. In November 2021, USAID supported organization of StrategEast “State and IT” Eurasian Forum in Bishkek. As a result of this forum, EPAM, one of the world's largest manufacturers of custom software and consulting providers, opened its office in Bishkek. The forum also paved the way for a $50 million venture fund to support startups in Central Asia. The project also supported the first virtual IT expo “ConnectKG” and the first event to reward Kyrgyz IT companies named “KSSDA Awards 2021”.

In partnership with the Kyrgyz Software and Services Developers Association, the project prepared recommendations to improve the business environment for the IT sector. Recommendations were presented to the Ministry of Economy and included in the draft law On Venture Funding.

The project supported pre-feasibility studies for an eCommerce park in the Kyrgyz Republic. The е-Commerce Park is envisioned to become a logistics export and import hub and center for innovation and knowledge sharing in Central Asia. The study conducted in cooperation with the eCommerce Association of Kyrgyzstan and the Ministry of Economy covered international best practices and field work to identify best spots for the e-Commerce Park.

The project has been supporting the development of the stock market in order to help local companies attract local investments. With USAID’s assistance Barkad LLC became the first food-processing company to issue bonds in local stock market and attract $1.1 million. The project also assisted Textile Trans LLC to become the first textile company in the local stock market, which plans to attract $1.2 million.

Future Growth Initiative helped Kyrgyz companies to attract foreign investments as well. Seven partners received investments amounting to $2.8 million from AV Frontiers, Most Ventures and other private investors.

The project assisted the organization of the eBay Central Asia Hub training program. It enabled Baibol Group to launch a store on eBay to sell Kyrgyz handmade products directly to customers in the U.S.

The project is helping Kyrgyz companies to reach international markets through exhibitions and business-to-business meetings. For example, USAID sponsored participation of three Kyrgyz companies in the international food and beverages exhibition Gulfood in Dubai. Eleven representatives of Kyrgyz tour operators went on Central Asian “roadshow” in Tashkent, Samarkand and Almaty. As a result, 176 letters of intent were signed between Kyrgyz, Uzbek and Kazakh tourist companies.