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Home»Entrepreneurship»20,000 families in Kyrgyzstan will each receive $1,100 in start-up support
Entrepreneurship

20,000 families in Kyrgyzstan will each receive $1,100 in start-up support

prosperplanetpulse.comBy prosperplanetpulse.comApril 12, 2024No Comments3 Mins Read0 Views
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A report by Kyrgyzstan’s Ministry of Labor, Social Security and Immigration says that low-income households receiving cash transfers from the state will be able to enter into a social contract with the state, as long as the recipient has a real business plan. It is said that it will become. .

In 2024, 20,000 families will sign social contracts with the state as part of the fight against poverty. According to the Ministry of Labor, priority will be given to people with three or more children and people with disabilities. The ministry emphasized that the funds can also be allocated to families for the development of existing businesses. Companies must comply with the national program “One Village – One Product”.

“It is supposed to produce from local resources and develop the skills of producers such as business management, marketing, expanding product sales opportunities, promoting products in local and international markets, creating local brands, and increasing product value. ,” the ministry said. Economics and commerce are mentioned in the program description.

The “One Village, One Product” project has been underway in the Issyk-Kul region for many years and has achieved good results. New jobs are being created and profits are increasing in the region, including by exporting products overseas. Previously, this project was supported by Japanese humanitarian organizations working in Kyrgyzstan.

“This project will help domestic entrepreneurs produce high-quality certified products exclusively from local resources. Over the past six years, thanks to this project, local producers have created 167 projects, with a total of 238 million Som ($2.67 million) in export contract,” the Ministry of Economy stressed. Meanwhile, the Ministry of Labor said that over the past few years, it has distributed funds to 13,000 low-income families who started their own businesses. The project produces honey, natural juices, jams, felt products and meat products from local fruits.

“Proceeds from the realization of business projects in 2023 helped improve the lives of 55,400 people, 33,500 of whom were children. 80% of these children previously received a need-based allowance. …Thanks to the social contract program, all families now earn their own income and do not need government support,” said Minister of Labor, Social Development and Immigration Gulnara Bartilova. According to the ministry, most of the successfully implemented projects were carried out in Jalalabad and Osh regions.

According to the Ministry of Economy and Commerce, 280 products have been developed in five years and successfully sold in domestic and international markets. Many of the products of these entrepreneurs are not yet produced in large quantities, but are supplied to Japan, China, South Korea, the United States and Europe.



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