State Enterprises’ Earnings Revealed by Cabinet for 2024
Bakyt Torobaev, Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan, recently led a crucial meeting to review the performance of state enterprises and joint-stock companies with state ownership for the year 2024, as well as outline plans for the upcoming year of 2025.
During the meeting, the State Property Management Agency reported that the Kyrgyz government currently holds shares in 43 joint-stock companies across various sectors of the economy. At the close of 2024, the assets of state-owned enterprises saw a significant increase of 73,575.5 billion soms compared to the previous year, reaching a total of 410,210.2 billion soms. Moreover, the net profit of state enterprises amounted to 36,153.2 billion soms in 2024, reflecting a growth of 7,375 billion soms compared to 2023.
Bakyt Torobaev issued a series of directives to the leadership of state enterprises and joint-stock companies with state ownership. These instructions aimed to enhance corporate governance practices within joint-stock companies, elevate the standards of services provided, generate new employment opportunities, boost net profit in the first half of 2025, and intensify efforts to attract investments to the country.
The focus on these key areas underscores the government’s commitment to fostering a conducive business environment, promoting economic growth, and driving sustainable development in Kyrgyzstan. With a strong emphasis on accountability, efficiency, and innovation, the country aims to further strengthen its position in the global marketplace and spur continued progress across various industries.
