As CEO of American Kyrgyz Business Association (AKBA), Aktilek Tungatarov is enhancing economic ties between the U.S.A. and Central Asia, promoting business and investments.
ELK GROVE VILLAGE, IL, June 05, 2024 /24-7PressRelease/ — Aktilek Tungatarov has been selected for inclusion in Marquis Who’s Who. As in all Marquis Who’s Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility, and prominence in a field are all taken into account during the selection process.
As CEO of American Kyrgyz Business Association (AKBA), Aktilek Tungatarov is enhancing economic ties between the U.S.A. and Central Asia, promoting business and investments. As President of Nomads Business League (NBL), Mr. Tungatarov is working with U.S.-based businesspeople of Central Asian origin encouraging creation of new ventures, spurring entrepreneurship and helping them to expand their existing businesses. As Managing Partner of SAM Consulting, Mr. Tungatarov is helping migrants from Central Asia with their adaptation in the U.S. and starting new business.
An example of Mr. Tungatarov’s achievements in the business sphere is the establishment of the Silk Road International School in Buffalo Grove, IL, scheduled to commence operations in September 2024. He played a crucial role in facilitating the acquisition of land and buildings for the school on behalf of investors from Kyrgyzstan. Mr. Tungatarov’s another accomplishment is facilitation of successful partnership between U.S.-based businessmen of Kyrgyz ethnicity, resulting in the establishment of Max Force Roofing and Siding in Westerville, OH, in 2022. Currently, Aktilek Tungatarov is spearheading a multi-million dollar investment project, set to culminate in the launch of a grand spa and restaurant in Des Plaines, IL. Under Mr. Tungatarov’s guidance, the project has been meticulously designed, an initial investment of $1 million has been secured from investors from Kyrgyzstan, and the required building and land have been acquired. These businesses lead to new job opportunities, increased government tax revenues, and a significant boost to the U.S. economy.
Before immigrating to the United States in 2021, Mr. Tungatarov has been a public figure in Kyrgyzstan promoting growth of business and economic development. He has a rich experience of leading projects funded by the United States’ esteemed organizations, e.g. United States Agency for International Development (USAID), Center for International Private Enterprise (CIPE), U.S. Department of State, and the American Chamber of Commerce (AmCham), Washington, DC. He has also collaborated with the World Bank, International Finance Corporation (IFC), International Monetary Fund (IMF), United Nations Development Program (UNDP), Asian Development Bank (ADB), European Commission (EC), German Corporation for International Cooperation (GIZ), Organization for Security and Co-operation in Europe (OSCE), and the Japan Bank for International Development (JBIC).
Mr. Aktilek Tungatarov holds a Master’s degree in International Development from the International University of Japan (2008) and Bachelor’s degree in Business Administration from the American University of Central Asia (2001).
With over 20 years of experience in the private sector, Mr. Tungatarov has held leadership roles in prominent private companies and business leagues that work across different sectors of the economy in Kyrgyzstan.
The summary of Mr. Tungatarov’s work experience is as follows:
• 05.2009 – 01.2011: Head of Corporate Sales, Gazprom Neft Asia – part of Gazprom, one of the largest energy companies globally.
• 01.2011 – 05.2015: Executive Director (CEO) at “International Business Council” – the largest and most esteemed business association (in U.S. – business league or trade chamber) in Kyrgyzstan.
• 05.2015 – 03.2019: Director, Sustainable Development at “Kumtor Gold Company” CJSC – the largest goldmine, the largest foreign investment, the largest taxpayer, the largest employer in the history of Kyrgyzstan.
• 10.2017 – 03.2019: Member of the Steering Committee (Vice President status) at “Kumtor Gold Company” CJSC – the largest goldmine, the largest foreign investment, the largest taxpayer, the largest employer in the history of Kyrgyzstan.
• 09.2017 – 11.2020: Development Advisor at “JIA Business Association” – one of the most esteemed business associations in Kyrgyzstan.
• 12.2020 – 12.2021: Executive Director (CEO) at “American Chamber of Commerce in Kyrgyzstan” – one of the most esteemed business associations in Kyrgyzstan.
Some of Mr. Tungatarov remarkable achievements in the aforementioned roles include:
• In 2011-2012, led the development of the new national destination website, www.visitkyrgyzstan.kg, country’s tourism logo and slogan (“So Much To Discover”) to spearhead Kyrgyz tourism promotion efforts. This initiative has significantly elevated Kyrgyzstan’s presence in the global tourism landscape, attracting a growing number of visitors and driving economic growth in the tourism sector.
• In 2012, pioneered the inaugural Central Asian Tourism Conference, convening key stakeholders from Kyrgyzstan, Kazakhstan, Uzbekistan, and Tajikistan. By facilitating dialogue and collaboration among regional partners, the conference served as a catalyst for promoting tourism cooperation and sustainable development across Central Asia.
• In 2011-2015, served as Member of the European Bank for Reconstruction and Development Small Business Support Programme Steering Committee.
• In 2011-2015 and in 2020-2021, served as Member of the Business Development and Investments Council of the Kyrgyz Republic chaired by the country Prime-Minister.
• In 2012-2013, served as Member of the National Council for Sustainable Development of the Kyrgyz Republic chaired by the country President.
• In 2012, played a significant role in shaping the National Strategy for Sustainable Development of the Kyrgyz Republic for the period 2013-2017. Through active participation and insightful contributions, contributed to the formulation of comprehensive policies and action plans aimed at promoting economic, social, and environmental sustainability across the country.
• In 2012-2015, served as Member of the National Council for Awarding Prizes of the Kyrgyz Republic on Quality.
• In 2013, successfully advocated for amendments to the Tax Code of the Kyrgyz Republic, resulting in a pivotal change that exempted taxpayers from paying VAT on assets imported by firms for production purposes. This accomplishment relieved financial burdens on businesses, stimulating investments that resulted in economic growth and creation of new workplaces.
• In 2012-2015, played an instrumental role in contributing to the World Bank’s Doing Business Reports for the years 2012, 2013, 2014, and 2015. Through meticulous analysis, data gathering, and policy recommendations, provided invaluable insights that informed the assessments of business regulatory environments in Kyrgyzstan. These contributions facilitated a deeper understanding of the country’s business climate, identified areas for improvement, and underscored its commitment to fostering a more conducive environment for entrepreneurship and economic growth.
• In 2015-2016, implemented Youth Banks and Youth Mean Business projects in collaboration with the Eurasia Foundation Central Asia, revolutionizing opportunities for youth empowerment and entrepreneurship. These initiatives provided crucial support and resources for young individuals to embark on business development ventures and enhance their self-employability skills. By nurturing a culture of innovation and enterprise among youth, the projects not only fostered economic growth but also cultivated a new generation of leaders and change-makers poised for success in the global marketplace.
• In 2016-2019, established a transformative partnership with the Japan International Cooperation Agency (JICA) through the One Village – One Product approach, which significantly elevated the economic prospects of community-based organizations (CBOs). By harnessing local resources and leveraging international best practices, this initiative propelled the production of high-quality products that met global standards. As a result, hundreds of permanent jobs were created, predominantly benefiting women, and the income of CBOs experienced substantial growth. This collaboration exemplifies a sustainable development model that empowers communities, fosters economic resilience, and promotes inclusive growth.
• In 2015-2021, served as Member of the Board of Trustees of Ala Too International University.
• In 2018-2021, served as Vice President, Golf Federation of Kyrgyzstan.
• In 2020-2021, served as Member of the Supervisory Board of the Business Ombudsman of the Kyrgyz Republic.
• In 2020-2021, served as Member of the Business and Entrepreneurship Development Council under the Chairman of the Parliament of the Kyrgyz Republic.
• In 2021, served as Member of the National Anticorruption Business Council chaired by the country President.
Mr. Tungatarov has been acknowledged with the following awards and prizes, among others, for his extraordinary work and contributions in Kyrgyzstan:
• Honorary Citizen of Jeti-Oguz Region by the Jeti-Oguz State Regional Administration under the Government of the Kyrgyz Republic, 2019 – The Highest Honor Granted by the Head of the Local Government Administration.
• Honorary Citizen of Ton Region by the Ton State Regional Administration under the Government of the Kyrgyz Republic, 2018 – The Highest Honor Granted by the Head of the Local Government Administration.
• Excellence in Economics Award by the Ministry of Economy and Commerce of the Kyrgyz Republic, 2016 – The Highest Honor Granted by the Government in the Field of Business and economics.
• Excellence in Financial Market Award by the State Service for Regulation and Supervision of Financial Market under the Government of the Kyrgyz Republic, 2013 – The Highest Honor Granted by the Government in the Field of Financial Market.
• Who is Who in Central Asia Listee since 2011.
• International Monetary Fund Scholarship Award by the Japan-IMF Scholarship Program for Asia (JISPA) administered by the International Monetary Fund and funded by the Government of Japan, 2006 – Prestigious International Scholarship Award for Professionals.
• Dean’s Honor List, American University of Central Asia, 1997 and 1998.
• Silver Medal, 7th International Biology Olympiad, Crimea, Ukraine, 1996.
Mr. Tungatarov attributes his professional success to the support he has received from friends and family, in addition to the scholarships that allowed him to pursue higher education. In his personal life, he enjoys playing golf and spending quality time with his family. Mr. Tungatarov aims to establish a financially sustainable organization in the upcoming years that will unite entrepreneurs with a shared goal of contributing positively to their communities.
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