The Chairman of the Department of Precious Metals under the Ministry of Finance of Kyrgyzstan, Almaz Kadyrakunov, explained to MPs at a meeting of the Committee on Fuel and Energy Complex, Subsoil Use and Industrial Policy of the Parliament why there is no growth in jewelry production.
According to him, in addition to the problem of access to raw materials, local jewelry manufacturers find it difficult to compete with Turkey.
«Turkey has the latest equipment, and they can blow large jewelry items from a small amount of metal. Accordingly, their products are cheaper. In addition, they are ahead of us in terms of product design,» Almaz Kadyrakunov said.
He told MPs that the Ministry of Economy has developed a plan for the development of the jewelry industry. It includes preferential loans for jewelers to purchase modern equipment, creation of an industrial park, holding of international exhibitions for Kyrgyz jewelers, etc.
