From the very beginning of its existence, the structure faced criticism, and despite significant investments and support from the budget, the results of its work turned out to be insufficient. As of today, only a few companies created within the framework of the holding are operational.
Optimism and Reality
Critical remarks about "Kyrgyzindustry" began to emerge even before its creation. Nevertheless, the holding continued to spend huge amounts of the budget, and the first audit revealed that many concerns were justified.Part of the funds was used to form the charter capital of newly created companies; however, it remains unclear why 16 previously existing enterprises with state shares were not revived. 29% of the allocated funds went to projects unrelated to industry.
According to the results of the 2023 audit, "Kyrgyzindustry" ended the year with a loss of 100.6 million soms. By the end of 2023, the holding structure included 26 subsidiaries, which is only half of the planned 51 enterprises that were supposed to start in 2022-2023. Most of them are registered as limited liability companies, where the share of "Kyrgyzindustry" ranges from 30% to 100%.
In April of last year, the Accounts Chamber reviewed the audit report of "Kyrgyzindustry," which covered the period from January 1, 2023, to December 31, 2024. During the inspection, serious violations of financial discipline amounting to over 19 million soms were identified.
"As a result of the company's activities, 57 subsidiaries were created in the form of LLCs. In 2023, profit was received from only six companies amounting to 8.3 million soms, and in 2024 - from four companies amounting to 56.5 million soms," the Accounts Chamber reported.
There were also instances of unjustified salary payments, shortages of financial resources, and violations of tax legislation.
Scandals and Changes in Management
The situation worsened after the publication of the audit, leading to the resignation of the director of "Kyrgyzindustry," Zharasul Abduraymov, and a statement from the State Committee for National Security (GKNB) about the initiation of a criminal case related to the activities of the holding. According to GKNB, from 2022 to 2024, more than 2.3 billion soms were allocated from the budget, but some officials of the holding organized corrupt schemes to appropriate budget funds through subsidiaries.The holding structure included many managerial positions: out of 75 employees, 33 held managerial positions, raising questions about the appropriateness of appointing relatives and acquaintances to these positions, who received high salaries. Many of them also held positions in subsidiaries simultaneously.
As a result, several key figures were detained, including the former director of the holding, Z. A., vice president B. B., and other directors of subsidiaries. The criminal case is ongoing, and the former head of "Kyrgyzindustry" passed away in October 2025.
The current head of "Kyrgyzindustry," Almanbek Ismailov, commented on the situation: "I will not discuss anything while the investigation is ongoing."
Tax Reporting of Companies
What is the current situation with the holding? No official information has been received regarding new production launches or reports on the activities of existing enterprises.According to the Ministry of Finance, "Kyrgyzindustry" continues to operate, but less actively than at the beginning. Over the past four years, its tax contributions have decreased from 19 million soms in 2002 to 2 million by the end of 2025.
Of the 15 companies within the holding, five did not engage in any activities last year, as they did not make any tax or insurance contributions. Another company, LLC "Kyrgyzfarmtech," registered in 2023, also showed no activity, as evidenced by the absence of payments to the budget over three years.
