ADB recommends accelerating reform to improve business climate in Kyrgyzstan
On April 26, IBC representatives took part in the presentation of the annual report of the Asian Development Bank "Asian Development Outlook 2018" (ADO).
On April 26, IBC representatives took part in the presentation of the annual report of the Asian Development Bank "Asian Development Outlook 2018" (ADO).
Kyrgyzstan needs to diversify its economy and find new sources of income, because now transfers from labor migrants and gold exports are the main revenues to the budget, the ADB report says.
It was noted that the key obstacle for further development was the country's lack of advanced business facilities. ADB recommends accelerating the reform to improve the business climate by solving problems with contract execution, ensuring reliable electricity supply, resolving insolvency cases and paying taxes.
ADB recommends Kyrgyzstan to improve public investment management, encourage private investors to fill supply gaps for infrastructure in the energy and other sectors.
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