What is International Business Council?
International Business Council (IBC) is a business association that was established in December 2000. It has a wide range of local and international businesses in membership who have created thousands of jobs and have a combined investment of over one billion USD in the Kyrgyz economy.
IBC contributes to creation of an attractive investment climate in Kyrgyzstan by promoting necessary amendments to the contemporary legislation and by active cooperation with public authorities, local and foreign organizations.
Today IBC is one of the largest associations in the country which provides integrated services to its members, including the opportunity to establish business relations during various events conducted by IBC on regular basis.
What does International Business Council do?
IBC promotes the common interests of both foreign and domestic investors. IBC activity is oriented on creation of an attractive investment climate in Kyrgyzstan by promoting best practices and adoption of necessary amendments to the national legislation. Our organization actively cooperates with the public authorities, various local and foreign organizations.
We protect legitimate business interests and contribute to making Kyrgyzstan an attractive investment destination through active participation in lawmaking and public activity.
IBC creates methods and approaches on the most important aspects of the country’s development by assimilating and spreading ideas.
We regularly carry out independent studies and surveys on the current stage of national economic development and its prospects.
Our periodicals contribute to a greater awareness of the business community, government officials and the civil society on the latest news in country’s business environment and investment climate.
What are the benefits of joining IBC?
• Representation of the business community interests to the Government and Jogorku Kenesh regarding the economic policy, legal and tax reforms, and good governance;
• Opportunity to receive legal and other necessary information on various aspects of economic and social life of the country;
• Opportunity to establish good business relations with other organizations – members of the association;
• Opportunity for the new companies to get support on their initial stage in the national market;
• Opportunity to receive the information of the association on various topics, projects, meetings, conferences and many others;
• Opportunity to solve a wide range of problems that are faced by companies in their everyday activity;
• Opportunity to have the informal meetings with the heads of local and foreign companies, representatives of the public authorities on the events organized by IBC;
• Members are free to participate in the activities of IBC Committees (more details on the current committees here);
• Ability to participate in formation of IBC policy by voting in the Board of Directors. Member of the category A has 4 votes, B - 3 votes C - 2 votes, D - 1 vote
Who can be IBC member?
Any legal entity can become IBC member regardless its form of ownership and country of residence, which shares the aims and objectives of the Association by recognizing its Charter and fulfilling its membership fee obligations in accordance with the provisions of the Charter.
How to become an IBC member?
Any company willing to become IBC member shall fill out an application for admission. The application is considered by IBC’s Board of Directors during 5 working days where decision is made by a simple majority of votes of the Board members. The applicant shall pay the membership fee in the amount indicated in its application within 10 working days from the date Board approved the candidate. The applicant acquires the status of IBC member after full payment of membership fee.
What are the different categories of membership in IBC?
Corporate A annual turnover - more than $ 20 million in Kyrgyzstan.
Corporate B annual turnover - $ 10 million to $ 20 million in Kyrgyzstan.
Corporate C annual turnover - $ 1 million to $ 10 million in Kyrgyzstan.
Corporate D annual turnover - up to $ 1 million in Kyrgyzstan.
Development Partner - foreign / international development organization (including development funds, banks, as well as projects funded by these organizations).
Associated nonprofit organizations, financial institutions, international organizations.
IBC also cooperates with honorary members, extraordinary and plenipotentiary Ambassadors in the Kyrgyz Republic to attract international investments and make contribution to overall improvement of the business environment in the state.
Who manages and controls IBC activities?
IBC activity is managed and controlled by appropriate organs at different levels:
IBC Members’ General Meeting
The supreme governing body of the Association is the General Meeting which consists of all IBC members. The General Meeting determines the priority directions of IBC activity, makes changes and additions to the Charter of the Association, makes decision on the reorganization or liquidation of the organizations, elects the members of IBC Board of Directors, and approves the annual report on the activity of the Association.
IBC Board of Directors
IBC Board of Directors is a collegial management body which performs overall management of the Association, supervises the Management and monitors fulfillment of IBC objectives according to its Charter. The Board is considering such issues, as: admission of a new member and exclusion from membership, appointment / dismissal of the Executive Director, determination of annual membership fee amount, etc.
IBC Audit Commission
The Audit Commission exercises control over financial and economic activities of IBC.
IBC Executive Director
The Executive Director is the executive body of the organization. The Executive Director ensures implementation of decisions of the General Meeting and the Board of Directors; includes items to the agenda of the Board and General Meeting, submits annual report on IBC activities for consideration to the Board and approval to the General Meeting, conducts overall organizational and financial management, represents the Association in relations with all public authorities and all other organizations.
Is IBC an international organization?
IBC is not an international organization. IBC is the public nonprofit organization registered in Kyrgyzstan and acting in the interests of the country.
How IBC activities are funded?
IBC is a nonprofit membership-based organization; all costs on its activities are covered by membership fees. Thus, IBC is independent from any kind of influence from the outside and its activity completely determined by the members .
How do IBC Committees work?
There are following IBC Committees on: Mineral Resources; Fiscal Policy; Real Estate and Construction; Tourism; Intellectual property; Sustainable Development and Corporate Social Responsibility; Human Resources Management.
The Committees provide the platform to IBC members for cooperation and information exchange. IBC members have the opportunity to develop and represent IBC policy on issues affecting the business community of the Kyrgyz Republic at the meetings of the Committees. The Committees define the objectives that are faced by business and actively solve them through discussions, sending letters, appointing separate meetings with appropriate bodies.
Any representative of IBC member may engage in any of the listed Committees.
How does IBC work with public authorities?
IBC actively cooperates with the public authorities: it is a member of 20 platforms aimed at creating favorable conditions for doing business, including: Advisory Committee on Entrepreneurship under the Eurasian Economic Commission, The Business Development and Investment Council under the Government of the Kyrgyz Republic, Business and Entrepreneurship Development Council under the Speaker of the Jogorku Kenesh (Parliament) of the Kyrgyz Republic, Expert Advisory Council under the Committee on Economic and Fiscal Policy of the Jogorku Kenesh (Parliament) of the Kyrgyz Republic, Council on Awarding Quality Prizes of the Kyrgyz Republic, Commission on Subsoil Use Licensing under the State Committee for Industry, Energy and Subsoil Use of the Kyrgyz Republic, Supervisory Board of the Extractive Industries Transparency Initiative (EITI), National Council for the Development of Professional Skills and others.
• IBC Weekly News Digest.
• Investment Survey (published twice a year).
• Issues of Investment Now magazine, IBC Law review, Tax alert and IBC Events newsletter are available in the archive.
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