Kyrgyzstan attracts more Chinese investment in local development

In recent years, the Central Asian nation of Kyrgyzstan has strengthened efforts to develop its infrastructure, attracting several Chinese companies to invest along the way.

But many businesses have noted a lack of funds as being the primary issue slowing down development.

This as Kyrgyz financial authorities have issued its US dollar-sovereign bond in Hong Kong last year, with some brokerages believing that the move can help cement the city's status as a global financial hub.

In the bustling Kyrgyz capital of Bishkek, the most common sight may very well be the endless amount of construction taking place on every street corner.

Since gaining its independence from the Soviet Union in 1991, Kyrgyzstan has been mired in economic decline and political turmoil over the past 35 years.

Having only restored some semblance of stability in recent years, Bishkek authorities are aiming for rapid infrastructural development.

In November last year, a Chinese developer settled in the Post-Soviet nation after taking up an offer to construct a local gym, and are currently in talks with the Kyrgyz government to develop local housing.

Wang Guolin, the assistant manager of the company, stressed there remains a noticeable contrast between Chinese and Kyrgyz construction quality.

He added that a lack of funds have also led to decelerated development in the region.

Hoping to solve the financial headache, Kyrgyzstan has sought for new opportunities in Hong Kong.

Just last year, a local brokerage assisted Bishkek in issuing a 700 million US dollar-sovereign bond in the city.

The measure aims to acquire funds for the Central Asian nation to build critical hydroelectric facilities and other essential infrastructure.

Zou Chuan, the CEO of Tianfeng International Securities Group, believes this move from Bishkek will encourage more member nations of the Belt and Road Initiative to issue sovereign bonds in Hong Kong, solidifying the city's status as a global financial hub.