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In the course of the business forum attended by Saudi Arabian entrepreneurs and investors the financial investment holding MGN Group presented an overview of prospective sectors of economy that could become profitable to foreign investment.
Saudi Arabia is the leading investor in foreign economies. In view of this, the Kyrgyz government deems it topical to keep the Arabian investors up to date with the most attractive investment projects in the country.
- In order to make a decision in favor of or against participating in a certain project, investors need to know more than just the figures of GDP dynamics or inflation rates across the country. It is important for them to understand the regional, country and industry prospects and risks of every single investment project, notes Robert Genkin, MGN Capital Managing Director.
Presently some of the most promising sectors of economy include republic’s infrastructure, mobile communications market, mining and banking.
- Our goal at the forum was to discuss real Kyrgyz business opportunities with foreign entrepreneurs. For example, the banking industry is promising due to its stability, low penetration level in the retail sector and capital adequacy ratio that is one of the highest in CIS. The mobile communications sector and its operators are expected to experience stable subscriber base growth, which, however, will be slower compared to the previous years. Nevertheless, even at such growth rate mobile penetration is lower than overall in CIS, and growth potential remains high, added Robert Genkin.
Since 1990 the relations between Kyrgyzstan and Saudi Arabia were limited to trade turnover of $140-160 thousand with no direct investments.
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