IBC makes business support suggestions at the Investment Council meeting

The measures taken and the observed progress in the field of support for entrepreneurs were considered at a meeting of the Business Development and Investment Council under the Government of the Kyrgyz Republic on October 8, 2019.

The Council Chairman, Prime Minister Mukhammedkaly Abylgaziev told the meeting participants that since the beginning of the year a moratorium on business checks has been introduced. Enterprises investing in the regions received serious tax benefits. The transfer of administration of social contributions from the Social Fund to the State Tax Service has been completed, and the Business Ombudsman Institution has been launched.

These and other measures have already begun to produce first results. Direct foreign investments increased by almost 40% in 2018. According to the results of the first 6 months of 2019, the FDI increase was about 60%, said the Prime Minister.

Work to improve the business environment is under his personal control and will be strengthened, Abylgaziev said. The development of regions and digitalization, including the business environment, will remain the main priorities for the Government in the near future.

It is necessary to simplify the statistical reporting of enterprises. According to IBC members, only dairy product companies have to submit 15 forms of statistical reporting on average, besides others including to the State Tax Service, Social Fund, etc.

The simpler and more convenient the reporting of enterprises, the more accurate the statistics will be, said IBC Executive Director Askar Sydykov when considering the issue "On simplifying reporting by business entities to the bodies of the National Statistical Committee of the Kyrgyz Republic."

It is necessary to make it convenient for entrepreneurs to fill out statistical reporting forms without wasting time on duplicate reports. As a result, this will affect the quality of decisions made, Sydykov added.

The IBC proposals correspond to the measures taken by the state to digitalize the regions and the country as a whole, as well as the Tunduk system of interdepartmental electronic interaction.

IBC also made suggestions on the cost of reimbursing agricultural production losses and recommendations on regulatory reform.

Business Ombudsman of Kyrgyzstan Robin Ord-Smith said that the Business Ombudsman Institution is starting its work. The Prime Minister introduced two BO Deputies – Nurlan Musuraliev and Sergey Ponomarev, who have extensive experience in protecting entrepreneurs.

The meeting also discussed measures to increase the number of transit passengers through the territory of the Kyrgyz Republic, the restoration of the Blacksmith Fortress tourist site, and the creation of a ski cluster project.