IBC Calls for Stronger Guarantees for Business and Investor Protection in Kyrgyzstan

The meeting was also attended by Mederbek Aliyev, First Deputy Toraga of the Jogorku Kenesh of the Kyrgyz Republic, members of the Jogorku Kenesh, representatives of the National Investment Agency under the President of the Kyrgyz Republic, the Ministry of Economy and Commerce of the Kyrgyz Republic, the Prosecutor General’s Office, as well as other government agencies and business associations. Speaking on behalf of the business community, Askar Sydykov welcomed the continuation of the Advisory Council’s work and emphasized the importance of this platform for strengthening dialogue between government authorities and the business sector. “For businesses, it is extremely important to have a permanent and effective platform where systemic issues related to the protection of the rights of entrepreneurs and investors can be discussed openly. We welcome the resumption of the Advisory Council’s active work and are ready to contribute to the implementation of decisions aimed at improving the country’s investment and business climate,” Askar Sydykov noted. During the meeting, IBC presented a number of proposals developed by the business community. In particular, it was proposed to strengthen oversight of compliance with legal requirements in the drafting and adoption of regulatory legal acts, including adherence to public consultation periods, the conduct of Regulatory Impact Assessments (RIA), and ensuring the full participation of business representatives in the rulemaking process. Particular attention was also drawn to the need to assess draft regulatory legal acts for their compliance with the principles of fair competition and a market economy. IBC also raised the issue of the practical implementation of certain prosecutorial response measures that impose additional obligations on business entities. It was noted that businesses regularly raise concerns regarding the feasibility of certain requirements and their compliance with existing legislation. As part of the discussion on protecting entrepreneurs from unjustified pressure by law enforcement agencies, IBC proposed conducting an assessment of the economic damage caused to the country’s economy as a result of unlawful initiation of criminal cases, unjustified detentions, pre-trial detention, seizure of documents, and other actions that negatively affect business operations. In addition, the need for further implementation of decrees of the President of the Kyrgyz Republic aimed at protecting entrepreneurs’ property rights was emphasized, including the introduction of the principle of “one investigative authority for economic crimes” and the abandonment of quantitative performance indicators for law enforcement, fiscal, and supervisory authorities. Another proposal concerned monitoring economic criminal cases that remain unresolved for extended periods without a procedural conclusion. According to the business community, such situations create legal uncertainty for entrepreneurs and maintain the risk of further pressure on business entities. The International Business Council expressed its support for the Action Plan presented during the Advisory Council meeting and confirmed its readiness to contribute to its practical implementation together with government authorities and other representatives of the business community. “Effective protection of property rights, the rule of law, and regulatory predictability are key conditions for attracting investment, developing entrepreneurship, and ensuring Kyrgyzstan’s sustainable economic growth,” Askar Sydykov emphasized following the meeting.