Kazakhstan prefers to invest in Kyrgyzstan banking sector

Kyrgyzstan's banking sector is the most attractive sector in the country's economy for Kazakhstan investors, Tengrinews.kz reports. Temir Sariyev, Kyrgyzstan Economy and Antimonopoly Policy Minister, said this on April 4 at Kyrgyzstan-Kazakhstan Investment Forum. The volume of Kazakhstan gross investment to Kyrgyzstan banking sector amounted to almost 1 billion dollars in 2006-2011. The total volume of investments makes up more than $150 million at present. “There are still some capabilities in the investments and trade that have not been fully used. I believe that banking sector will remain Kazakhstan priority in the nearest future. We are planning to start off a mortgage program and this will lead to additional investments,” Sariyev said. Moreover, a Kyrgyz-Kazakh investment fund with a charter capital of $100 million will be registered in April this year. Kyrgyzstan government has already started working on establishment of the State Bank of Development. This bank will work closely with the Fund and will invest into top-priority state programs directly.