Ambassador’s Remarks for Dollar Store Opening:  January 28, 2008

Esteemed colleagues, ladies and gentlemen, thank you for joining us today.  I am honored to be a part of today’s ribbon-cutting event, and to share this occasion with all of you.  The opening of this store is a direct result of the efforts of many, including the Dollar Store’s Executive Director in Central Asia, Ovace Asghar, and the 28 local staff members that have worked tirelessly to ensure the store meets the high standards set by the Dollar Store.  Congratulations to all of you.

The Dollar Store is a familiar company for Americans.  The philosophy that sets the Dollar Store apart from its competitors is simple:  offer quality products for a low, fixed price.  It is a philosophy that has ensured the Dollar Store’s continued success, and enabled U.S. consumers to buy essentials such as soap and apparel to kitchenware and automotive supplies at reasonable prices.  I’m glad that same philosophy will now benefit Kyrgyz consumers as well.

The addition of U.S. businesses, like the Dollar Store, to the Kyrgyz market is a positive development.  It shows that distance and logistical obstacles do not necessarily have to stand in the way of foreign investment.  Thus far, the Dollar Store has invested approximately $500,000 towards the establishment of its franchise in Kyrgyzstan.  And this is only the beginning.  The Dollar Store plans to open more stores in Kyrgyzstan and elsewhere throughout Central Asia. 

The development and expansion of small-to-medium enterprises is the key to an improved economy, as such businesses provide more opportunities for employment, are an important part of the supply chain for multinational companies, can help economies diversify, and contribute to the growth of a nation’s gross domestic product.  It can be said that small-to-medium enterprises are the engine that drive sustained economic development.

"Franchising" is a typical American business model, and many American firms -- from automobile dealers to Coca-cola to the Dollar Store -- operate on this model.  Franchising enables entrepreneurs to start up new businesses quickly, based on a proven trademark and formula of doing business -- as opposed to having to build a new business and brand from scratch.  As such, we hope that the Dollar Store will serve as a model for other foreign businesses seeking to explore new markets in Kyrgyzstan and Central Asia.  And it is also our hope that local entrepreneurs will be able to take advantage of franchising and other foreign business opportunities to expand their own investment possibilities, as well as Kyrgyzstan’s market diversity. 

The establishment of foreign businesses in Kyrgyzstan, and elsewhere, allows local employees and partners to experience business methods and management practices that are utilized successfully in other parts of the world.  It also has the potential to create new ties and new possibilities for both sides.
 
The opening of this store symbolizes yet another important achievement towards the development of U.S.-Kyrgyz economic relations.  It is also a great occasion for all of us consumers, as well as the management and staff of the Dollar Store.  Good luck!