IBC Economic Journalism Club discuss the importance of attracting investment to the country

On November 22, IBC held a business lunch within the framework of the IBC Economic Journalism Club project, carried out with the support from the U.S. Embassy in the Kyrgyz Republic.

The meeting held at the Jannat Regency Bishkek hotel, discussed the importance of attracting investment into the country, as well as protecting investors. Adilbek uulu Shumkarbek, Director of the Investment Promotion and Protection Agency of the Kyrgyz Republic, Nazira Beishenaliyeva, representative of the Central Asian FEZ Development Corporation, and Julia Abdumanapova, Director of Baker Tilly Bishkek LLC were invited as speakers.

Adilbek uulu Shumkarbek told about what the volume of investments in the Kyrgyz Republic depends on, as well as about investment lots and maps developed by the agency. The investment lots will help solve the problems of investors related to land transformation of and connecting to electricity.

Before investing, investors want to get as much information about the country as possible. Kyrgyzsan currently does not have a sufficient database and projects for investors, Nazira Beishenalieva said.

Atability in the country is the most important factor for investors, Yulia Abdumanapova stressed, adding that not only foreign, but also domestic investors should be encouraged. Existing taxes are quite attractive in the Kyrgyz Republic, but there is no effective administration of these taxes, she said.