Roundtable discusses legislation in the subsoil use in Kyrgyzstan

Investors in the mining industry of Kyrgyzstan face three main problems – weak legislation, unjustified inspections by regulatory authorities and relations with the local population, IBC Executive Director Askar Sydykov said at a roundtable on legislation in the subsoil use on November 27.

Representatives of mining companies raise the issue of numerous inspections by supervisory and law enforcement agencies. “The state should have a clear investment policy,” Askar Sydykov added.

Representatives of the Parliamentary Committee on the Fuel and Energy Complex and Subsoil Use, the State Committee for Industry, Energy and Subsoil Use and IBC took part in the discussions.

The roundtable participants considered the conditions necessary to attract investors, the expediency of raising the tax rates on income for gold mining companies, as well as relationships with local communities, including the transparency of the distribution and use of the 2% non-tax payment that companies pay to maintain and develop the infrastructure of local regions.

The state should create favorable conditions for attracting investment in the budget-forming industry, First Deputy Prime Minister Kubatbek Boronov said. He also ordered the relevant state bodies to conduct explanatory work among the local population.

Kojobek Ryspaev, head of the Parliamentary Committee on Fuel and Energy Complex and Subsoil Use, stressed that the state should provide support to the mining industry.

The roundtable participants adopted a resolution on improving conditions for the activities of mining companies and the sustainable development of the industry.