What role can small and medium-sized businesses perform in ensuring economic recovery in the Kyrgyz Republic?

 
PIIS020736760010802-1-1
DOI10.31857/S020736760010802-1
Publication type Article
Status Published
Authors
Occupation: Leading researcher
Affiliation: Institute of Economics named after J. Alyshbaev of the National Academy of Sciences of the Republic of Kyrgyzstan
Address: Kyrgyzstan
Journal nameObshchestvo i ekonomika
EditionIssue 8
Pages81-92
Abstract

The pandemic has exacerbated the import dependence of the Kyrgyz economy. Because of the insufficient capital, the motivation for entrepreneurial activity is focused on unoccupied niches in trade and services. Kyrgyz producers, who could provide the domestic market with analogs of foreign-made goods, cannot cope with this task due to the lack of financial resources for the purchase of equipment. The article substantiates the need for a government strategy of import substitution, through which SMEs could participate in the production of goods for the domestic market and enter international markets. This implicates a transition from strict regulatory methods by the state bodies to self-regulation and incentives for entrepreneurs with parity in relations between the state and SMEs.

Keywordssmall and medium business, self-regulation, import substitution, leasing, cluster industry
Received11.09.2020
Publication date14.09.2020
Number of characters27559
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