At the practical forum “Eurobond Issuance: From Theory to Practice,” held on 2 December in Bishkek, a dedicated panel session on “Investments and International Capital Markets” brought together representatives of the Ministry of Economy and Commerce of the Kyrgyz Republic, the investment community, international partners, and the Business Development and Investments Council under the Cabinet of Ministers of the Kyrgyz Republic.

Speaking at the session, Uluk Kydyrbaev, Head of the Secretariat of the Council, emphasized that the role of the Council extends far beyond facilitating discussions on the investment agenda. Its core mission is to build a resilient and predictable architecture for capital mobilization — from establishing clear and stable rules for businesses and strengthening investor protection to shaping a portfolio of high-quality projects attractive to international markets.

He highlighted that, following the Kyrgyz Republic’s successful debut sovereign Eurobond issuance, the next strategic priority is to create the conditions for the country’s major corporates and financial institutions to access global capital markets in a structured and prepared manner.

The session also examined investor expectations and the growing demand for transparency, including high-quality reporting, clear debt strategies, ESG integration, and systematic risk management. In this context, Elena Eliseenko, Head of Commercial Operations for CIS, Central and Eastern Europe at S&P Global Ratings, underscored the importance of a consistent credit history, predictable government policy, and open communication between issuers and the market.

Participants discussed the institutional steps required to build a sustainable corporate debt market in the Kyrgyz Republic, including:

• development of the domestic capital market;
• improvement of the regulatory environment;
• strengthening the role of national financial institutions;
• expanding cooperation with international financial organizations.

Following the discussion, the Secretariat of the Council reaffirmed its readiness to continue serving as a key institutional bridge between the government, the private sector, and international investors — helping shape clear investment rules, advancing high-quality projects, and ensuring that the entry of Kyrgyz companies into international capital markets becomes a well-prepared and natural progression, rather than a one-off initiative.