The National Investment Agency under the President of the Kyrgyz Republic, Vasta Discovery LLC (Russia), and the Eurasian Development Bank (EDB) have signed a trilateral Memorandum of Cooperation on the creation of Baytik Mountain Resort in Kyrgyzstan.
The signing ceremony of the Memorandum was attended by Talantbek Imanov, Director of the National Investment Agency, Sergey Bachin, CEO of Vasta Discovery, and Sergey Ignatov, EDB’s Senior Managing Director. The parties expressed their intentions to establish a partnership for the development and construction of Baytik Mountain Resort, an all-season mountain tourism cluster in the Chui region of Kyrgyzstan.
According to Talantbek Imanov, Director of the NIA, the creation of Baytik Mountain Resort will be the first, and so far the only, tourism infrastructure cooperation project in the Kyrgyz Republic.
“The project of the future resort includes 15 cable cars, 36 ski slopes with the total slope length exceeding 57 km, 4 tourist villages and a ski complex that shall meet the requirements for holding international top class competitions, including the Olympic Games and World Cup events in alpine skiing and snowboarding,” Imanov said.
The development and construction of Baytik Mountain Resort will be handled by Vasta Discovery, a company that has extensive experience in implementing large-scale tourism projects.
“Participation in the Baytik Mountain Resort project is very important for our company,” Sergey Bachin noted. “We are confident that there will be domestic demand for the resort and its services; besides, it will also become an important point of attraction for foreign tourists and inspire them to visit the Kyrgyz Republic. Besides relaxing in comfortable hotels and having fun on the ski slopes and hiking trails of the resort, the tourists will also have a chance to enjoy the beauty of the Chüy Valley and the mountains of the Kyrgyz Ala-Too.”
The signed Memorandum provides for the EDB’s readiness to act as a creditor of the Baytik Mountain Resort project.
“As a multilateral development bank, the EDB performs its investment activities so as to contribute to the economic growth of its member countries, to the expansion of trade and economic ties between them, and to the development of integration processes in the Eurasian space,” said Sergey Ignatov, Senior Managing Director of the EDB. “Apart from its obvious integration potential, the Baytik Mountain Resort project is also expected to contribute to the development of tourism – an important sector of the Kyrgyz economy, which will have a positive impact on related industries and cultural exchange in Eurasia, and will become a significant growth point in this region.”
