Kyrgyz Republic: Final statement on the outcome of IMF's 2017 consultation mission in accordance with Article IV and the fourth review of the implementation of the Enhanced Credit Facility (ECF) program. The final statement outlines the preliminary findings of IMF staff after the official visit of the IMF staff (or "mission"), in most cases to the IMF member country. Missions are conducted as part of regular (usually annual) consultations on Article IV of the IMF's Articles of Agreement, in connection with a request for the use of IMF resources (borrowing from the IMF), discussions of programs implemented in IMF staff monitoring, or other types of monitoring by the staff of the economic situation.LEARN ABOUT
Great number of international donors provide to Kyrgyzstan various help which is estimated not in millions, but billions of som any more. Beginning from trolleybuses and finishing with support of the state budget. The European Union acts as one of the main donors of the republic, only following the results of 2016 free aid consisted of €34.5 million. According to a seven-year cycle from 2014 to 2020 the EU provided grants for €184 million for development of the rule of law in the country, education, development of rural regions and other purposes.LEARN ABOUT
The energy sector is one of the priorities of the Kyrgyz economy. And without the development of the industry it is impossible successfully develop economy as a whole. Electricity is a significant component of the economy. Currently, Central Asian the countries (Kyrgyzstan, Kazakhstan, Uzbekistan and Tajikistan) produce about 125 billion kWh of electricity per year. As part of the unified energy system of the former Soviet Union republics, the power system of Kyrgyzstan took a peak character. If the power generation was the primary function of the stations, the land reclamation was the main feature. Total power production amounted to 14 billion kWh; however, a constant supply of this volume is not required. Discharge of water and generation of energy were necessary primarily to control the frequency in the unified energy system and ensure their stability, in addition to basic consumption.LEARN ABOUT
“The Kyrgyz government is working on the development and intensification of investment in the mining sector”, said Deputy Minister of Economy of the Kyrgyz Republic Turatbek Dzhunushaliyev. "As long as we do not observe the flow of investment and the effective implementation of all investment projects, which could give us a good incentive for further development of mining production", - he said. Every year in the Kyrgyz mining industry invested 2-2.5 billion soms, and this figure is expected to increase to 5 billion US dollars.LEARN ABOUT
“Whenever you see a successful business, someone once made a courageous decision.”― Peter F. Drucker
Beyond Investment Group (hereinafter “BIG” or “We”) is a team of professional consultants. Our team has a robust experience in Big4 and other industry worldwide known firms. BIG provides consulting services to the local and multinational enterprises in the area of corporate finance, transaction support, taxation and industry expertise consultancy. In a fast moving world, businesses are in need of better business models to overcome shortcomings of the past and current challenges. BIG exercise deep experience across industries to help its clients to find innovative ways to optimize business processes, reduce operational costs, manage risks, retain and add value to its loyal and potential customers.
Kubanychbek is responsible for managing investment and consulting projects in Beyond Investment Group. He holds a solid knowledge of project evaluation, structuring and tax optimization.
Before joining the Beyond Investment Group he spent several years in Mining industry both from private sector and regulator side. He was engaged in project budgeting, cost controlling and variance reporting in a Kyrgyz subsidiary of London based listed company Kazakhmys plc. In regulator side he served as personal assistant of a director of State Agency of Geology and Mineral Resources under the Government of Kyrgyz Republic and was responsible for analysis of legislative compliance of Mining companies. He has a strength network (experts, engineers, owners of businesses) in respective industry.
He began his career as tax consultant in Almaty based PricewaterhouseCoopers (PwC). His duties included general tax consulting, corporate tax, tax due diligence, international tax structuring, application of tax treaties, tax review and audits and compliance projects. His involvement included both Kyrgyz and Kazakh domestic taxation and cross border taxation as well. His projects included Oil&Gas, Mining, Telecommunication and FMCG sector representatives. He helped clients to optimize tax implications from inbound and outbound investments and business operations. He has good knowledge of Kyrgyz and Kazakh tax legislation.
He has bachelor’s degree in Public Administrations from Kazakhstan Institute of Management, Economics and Strategic Research, Almaty, Kazakhstan.
He is fluent in Kyrgyz, English, Turkish, Russian, and Kazakh..
Telecoms (IT) & Financial expert with strong technical and business acumen. Career history of emerging technology development, business strategy formulation, financial analysis, and turnaround expertise. Excellent understanding of project management needs, procedures, and challenges. Deep understanding of financial and business strategies, financial modeling & analysis, project management, procurement, contract negotiation, and financing, telecom technologies, standards evolution, telecom regulations. Experience in managing complex e-gov related projects in the Kyrgyz Republic.
Deep understanding of investment promotion approaches strong skills in modeling various development scenarios for complex greenfield projects. Experience in the creation of mathematical models based on research methodologies.
In his career he has been working from a position of junior mining engineer to chief engineer.
Nurlan has robust experience in leading wide range of on-site mines and projects on the role of chief mining engineer. His responsibilities included supervision of infrastructure construction of the mine site, mine exploitation planning. Nurlan also has experience in development and implementation of occupational, health and safety corporate policies. He has been consulting companies working on placer gold mining and development projects. He is also expert in maintenance operations of mines in the stage of exploitation of vein and placer gold deposits.
Nurlan has work experience in international companies such as Kumtor Operating Company (subsidiary of Toronto based Centerra Gold), Caspian Oil & Gas, Kazakhmys Gold Kyrgyzstan (subsidiary of London based Kazakhmys plc). He also has state service experience as an assistant of a director of State Agency of Geology and Mineral Resources under the Government of the Kyrgyz Republic.
He holds MS in mining engineering of Technical Faculty from the Kyrgyz-Russian Slavic University.
He holds MS in mining engineering of Technical Faculty from the Kyrgyz-Russian Slavic University.
He is fluent in Kyrgyz, English and Russian languages..
As BIG`s Lawyer, Marina Osokeeva advises the leadership team on a variety of legal and business matters, and manages Company`s core legal functions, including commercial and investment transactions, litigation, and regulatory compliance.
Marina is an experienced corporate lawyer with over 8 years` post qualification experience.
Marina joined BCG having previously worked both in private and state-owned companies. Her practice covers a combination of corporate, contract law, M&A and other legal issues. She deals with both national and international acquisitions, restructurings and general corporate issues. Marina advises on investments and corporate operations, focusing on mergers and acquisitions, capital markets and venture capital or private equity operations. Creativity and bringing together the interests of all stakeholders has always been an important aspect in these transactions.
Marina graduated with honors from Law School of Kyrgyz-Russian Slavic University.
She is fluent in Kyrgyz, English and Russian
Urmat is the co-founder and the managing director of Beyond Investment Group. He has over ten years’ experience of structuring and managing Investment and Financing projects to the amount of 50 million USD in Russia, Turkey and Central Asian countries.
Urmat has held Management Position for more than five years within the Eurasia Group AG, leading Financial Division, Commercial Division.
He has deep expertise in investment banking. He closely cooperated with leading financial institutions such as Islamic Development Bank, EBRD, IFC, IS Investment, John Deere, Kuhn, JCB, Bauer, Double L, Sakai, Petronas etc.
Urmat has obtained MA in International Economics, majoring in Investment Banking from Siegen University, Germany.
He is fluent in Kyrgyz, English, German, Turkish, and Russian. .
Kudoiar is the co-founder of Beyond Investment Group. He has eleven years’ experience in Environment, Health and Safety (EHS) including incident investigations, regulatory compliance, management systems development and implementation for the oil&gas, mining and construction companies. His involvement includes management of HSE Department for audit, development and implementation of HSE Management System in Kyrgyzstan subsidiary of Australian Manas Resources Pty and HSE audit for Kyrgyzstan subsidiary of London based Kazakhmys PLC
Before co-founding the Company he has performed EHS audit, developed overall EHS Management systems and worked for the biggest construction, oil & gas, seismic companies in Kyrgyzstan, Australia, China, Russia, Kazakhstan and Tajikistan,. Thus, he has extensive knowledge of industry and country-specific information of the mentioned countries. Most previously, Kudoiar held the position of the Corporate EHS Manager for the Central Asian operations unit of internationally recognized Australian-based Oil&Gas Company Santos pty for six years. As he joined this company in August 2008 he achieved outstanding success with no fatalities, no Days Away From Work Cases and no Recordable Incidents.
Kudoiar holds a Bachelor’s Degree from the Kyrgyz State Technical University, Bachelor of Finance and Credit Degree from Institute of Management, Business and Tourism in the Kyrgyz Republic.
He also passed out Portfolio of safety and taproot investigation courses in Adelaide, Sydney/Australia, Johor Bahru/Malaysia upon completion of their courses. Kudoiar is a member of international association of audits and quality OHSAS 18001:2007 “Intercert”, Almata/Kazakhstan and a certified Expert of Environmental Management ISO 14001:2000. Besides, Kudoiar was safety certified in Russian Federation and Kyrgyz Republic
He is fluent in Kyrgyz, English, Turkish, and Russian..
Temirbek was executive director at International Business Council (IBC) one of the largest and influential business association in Kyrgyzstan. Before IBC, he spent three years in the capacity of a lawyer and eight years in a position of CEO of Kyrgyz subsidiary of an Australian based listed company involved in Kyrgyz Republic Oil&Gas and Mining sector. During that time, he built a strong foundational knowledge and skills of industry peculiarities and challenges.
Temirbek began his career in international construction and engineering firm building a strategic road in Kyrgyz Republic. Working on construction sector, he could establish broad spectrum of contacts within local and regional political circles. His duties included resolving complex issues arising between contractor, its stakeholders and regulators through performing coordinating legal, safety and environmental due diligence.
Apart from private business engagements, Temirbek has been very actively involved in public activities and business advocacy initiatives. He is a member of several Governmental working groups organized as a platform to discuss various business environment deficiencies and challenges.
Temirbek serves as a public advisor to the Chairman of the State Tax Service under the Government of Kyrgyz Republic. Also, he is a member of the Investment Council under the Government of the Kyrgyz Republic. Being involved in public activity, he actively raises solutions to business doing obstacles, legislation improvements, proposes bills to the Kyrgyz Government and other state bodies of the Kyrgyz Republic.
He has vast experience in road and civil Construction, Mining, Oil&Gas and Energy industries. His knowledge and scope of these industries extend to the regional level.
Temirbek is fluent in Kyrgyz, Russian, English and Turkish..
Dong Bi is a Canadian geologist with over 30 years of experience in the mining industry.
Mr. Bi had served as the Director of Board with a number of Canadian public companies active in Asia, Africa, South America, and North America. He was instrumental on arranging in 1997 the first Chinese institutional investment in a Canadian listed junior mining company. Since 2005, he has been consulting for western companies with interests in China, and for outbound Chinese companies for investments and acquisitions in Brazil, Indonesia, Kyrgyzstan, Greenland, and South Africa.
Mr. Bi is also an accredited interpreter with the Canadian Government, and had served as the translator in the bilateral meetings between Canadian and Chinese Governments.
Mr. Bi holds a B.Sc (Geology) from Nanjing University in China, and M.Sc. (Geology) from the University of Alberta in Canada.
Mr. Bi is fluent in Chinese, English and French.
Zainudin is mainly concentrates his work in Financial Modeling, Corporate Finance, Valuation and Restructuring of mining projects both inbound and outbound investments.
Zainudin is a member of Board at ABD Partners and involved in M&A, ¬restructuring, market analysis, business valuation and assisting Mining clients to enter the market of Kyrgyzstan and other Central Asian countries through the purchase of local or establishing a new company.
Earlier Zainudin was a chief of project controls and cost control department of Kazakhmys Gold Kyrgyzstan, Kyrgyzstan subsidiary of London based Kazakhmys plc. He mainly was engaged in budgeting, deal structuring assistance, advisory on assurance at contract execution stage. His tax optimization experience brought savings for the firm in the amount of at least USD 100K-500K. Zainudin also served as senior financial analyst at Kyrgyzstan subsidiary of Coca-Cola Inc.
In his career, Zainudin has Estimated total impact of projects nearly USD 1 million. He is Expert in optimizing CAPEX/investments to reducing costs of procurement and in optimizing taxation.
He holds bachelor’s degree in Business Administration from American University in Central Asia
He is fluent in Kyrgyz, Russian, English and Turkish.
Strategic arrangement of the Kyrgyz Republic The Kyrgyz Republic (Kyrgyzstan), the state in Central Asia. Borders on Kazakhstan in the north, China – in the east and the southeast, Tajikistan – in the southwest and Uzbekistan – in the west.
Kyrgyzstan is the intersection in trade in the Central Asian region, a link between China, Kazakhstan and Russia.
Kyrgyzstan has a developed system of transport communications. Public highways have the extent of 20 thousand km. By road ways it is possible to get to all states bordering on Kyrgyzstan (Uzbekistan, Tajikistan, Kazakhstan, China). The railroads are a part of a railway system of Central Asia. There are three international airports in the country. The airports for light planes operate on internal lines.