Kumtor Supports Young Entrepreneurs of Issyk-Kul Oblast

published: 02 August 2018

10 business projects have been supported as part of the joint initiative run by Kumtor Gold Company and non-governmental foundation ‘FSDS’ (Fair and Sustainable Development Solutions). The joint project entitled ‘Expansion of Economic Opportunities for Rural Youth of Issyk-Kul Oblast’ is aimed at improving the living conditions of rural youth and supporting young entrepreneurs through upgrading or purchasing the necessary equipment, improving the infrastructure and providing consulting services.

The project covers Kun-Chygysh and Ton villages of Ton region, as well as Barskoon, Tosor and Darkhan villages of Jeti-Oguz region of Issyk-Kul oblast.

At this moment, the following results have been achieved:

• 59 young people (including 20% of young women) have improved their knowledge and skills in business planning.
• 27 business proposals have been submitted for consideration by the independent grant commission established within the project.
• 10 business projects (including 3 projects run by young women) have been selected by the independent grant commission and financially supported. The amount of support reached $17,546.
• Two large-scale events – Oruk-Fest (July 28, 2018) and Altyn-Kum Festival (July 29, 2018) – have been organized in Jeti-Oguz region to support the local economic development and promote agritourism and ecotourism. The events have been attended by at least 1,500 participants, including the representatives of the Kyrgyz government, Kyrgyz parliament, local authorities, local farmers and young community leaders, entrepreneurs from Kyrgyzstan, Tajikistan, Kazakhstan, Korea and other stakeholders.

Examples of business ideas supported by the project:

‘Darkan Plast’

The ‘Darkan-Plast’ investment project was initiated in order to start a plastic doors and windows manufacturing business in Darkan village of Jeti-Oguz region, Issyk-Kul oblast. The company manufactures windows and doors of high quality from Turkish materials for residents of Darkan, Ak-Terek, Jenish, Jargylchak, Barskoon, Tamga and Tosor villages.

The key feature of the business is affordable prices for windows and doors.

“There was no such a business in our village before. That is why those who were going to make repairs had to go to Saruu or Kyzyl-Suu. The road took extra time and money,” shared author of the business idea Jyrgalbek uulu Aibek.

Own contribution is KGS 100,000.

The grant amount is KGS 116,000.

Beauty Shop ‘Sezim’

Ton region includes 30 villages, and the total population makes 45,000 people. The beauty shop ‘Sezim’ provides a wide range of cosmetic services for residents of Ton region. The main goal of the initiative is to improve hairdressing services in the region and to provide local residents with more new services like manicure, pedicure and eyelash extension. At the moment, the beauty shop employs 4 workers.

“On an average, our beauty shop serves about 15,000 people a year; it is worth noting that many of them are our loyal customers. Prices for services vary from KGS 50 to 150. Now we are going to hire 4 new employees and this will allow us to serve additional 10,000 customers a year,” shared Kanykey Jenishbekova, the beauty shop owner.

Own contribution is KGS 21,800.

The grant amount is KGS 138,000.

Sewing Shop

The sewing shop has been functioning in Bokonbayevo village already for three years. The main goal of the shop is to provide young rural women with jobs. At the moment, the sewing shop employs 5 women, who manufacture more than 170 sets of clothes per day. The clothing is made of quality fabrics, it is popular among the consumers and exported abroad.

“Due to the great demand, we are short of workers and sewing machines, therefore we have requested equipment within the project framework to provide more women with job,” shared author of the business project Nurgul Bekturganova.

Own contribution is KGS 184 000.

The grant amount is KGS 125,000.