The draft Entrepreneurial Code contains certain risks, so the document requires amendments and additions, said IBC Executive Director Askar Sydykov.

It should be noted that the codes are even more difficult to amend than the laws, Sydykov said at a round table discussion on the draft of the Enterprise Code on May 20.

The business community proposed to create an Entrepreneurial Code that would unify the entire legal and regulatory framework for the protection of entrepreneurs in Kyrgyzstan. It is planned that the draft code will include licensing, labor and tax legislation, as well as legislation on investments and on public-private partnership.

According to Sydykov, several years ago, when drafting a law on the licensing system, it was proposed to reduce the number of licenses. However, a good idea turned into risks.

“We faced with the fact that some activity areas of companies – subsoil users dropped out, and it was necessary to include them in the law. While the law was amended, during two years entrepreneurs could not work because there were no legal norms,” he explained.

The working group on the development of the Entrepreneurial Code of the Kyrgyz Republic includes representatives of relevant ministries and departments, as well as several business associations of Kyrgyzstan, including IBC.

The draft Entrepreneurial Code aims to create the conditions for an entrepreneurial environment, attract investments and protect the rights of entrepreneurs. The adoption of the Code will allow to eliminate legislative problems, improve the business climate and harmonize the legislation of the Kyrgyz Republic with the legislation of the EAEU countries, said Cholponkul Arabaev, head of the expert working group for the draft Entrepreneurial Code development.

Kazakhstan adopted its Entrepreneurial Code on January 1, 2016. According to pro-kg, the Code includes 7 sections, 31 chapters and 324 articles. Along with the Code, Kazakhstan adopted a law aimed at bringing the norms of certain laws of the Republic of Kazakhstan into line with the Entrepreneurial Code, which amended and supplemented 11 codes and 99 laws.