Strategic Impact of Green Economy on Business Development (Through the Example of Kyrgyzstan)

Abstract

The presented study examines over 20 years of experience of Kyrgyzstan in building an environmentally responsible market economy in the Kyrgyz Republic. Aim . The study aims to determine the major prerequisites for the development of regional business processes that are forming in the context of the genesis of green economy in Kyrgyzstan under modern conditions. Tasks . The authors identify the factors of the greening of the country’s economic development at the current stage, examine regional conditions for the greening of production, and determine the specific aspects of business processes implemented in the environmentally responsible sectors of Kyrgyzstan’s national economy in accordance with the principles of green economy. Methods . This study uses general scientific methods of cognition to examine Kyrgyzstan’s policy in various aspects in the context of transition towards the principles of an environmentally responsible green economy, to specify strategic factors and conditions that facilitate its building, and to determine perspective directions for its development. Results . In Kyrgyzstan, the transition towards the principles of green economy is accompanied by market reforms aimed at building a socially-oriented market economy. The study shows that a strategy for stimulating and supporting business processes in traditional and perspective industries can help to achieve green economic growth and meets national interests in terms of sustainable long-term balanced environmental and economic growth. By comprehensively improving socio-economic conditions, digitalization of the economy has a positive effect on the green modernization of Kyrgyzstan and improves regional policy in terms of optimal regulation of business processes and the strategy for the greening of the country’s socio-economic development. Conclusion . A comprehensive examination of the foundations of socio-economic development in Kyrgyzstan involving identification of stimulating and constraining factors of economic greening makes it possible not only to determine the national specificities of transition towards the principles of green economy, but also to provide insight into the strategic prerequisites and the country’s reserves to sustain the greening of long-term economic growth across the country’s industries and regions.