Kyrgyzstan, which up to now has a poor track record for attracting foreign investors, hopes entry into the Russian-led Eurasian Economic Union (EEU) in May will lead to a FDI bonanza, but analysts are sceptical that the expectations are realistic.

The EEU, alongside a liberal tax system, give Kyrgyzstan the opportunity to attract annual foreign investment of up to $6.5bn, deputy Prime Minister Valery Dil said in Bishkek in January.

The EEU was launched on January 1, 2015 by Russia, Kazakhstan and Belarus to create a common market spanning former Soviet Union countries. Armenia and Kyrgyzstan signed the treaty in 2014, with the latter officially joining in May 2015.

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