Investor support system to be improved in Kyrgyzstan

An agreement on cooperation between the government of Kyrgyzstan and a project of the International Finance Corporation (IFC), a member of the World Bank Group, has been approved.

The project aims to promote growth and investment in the tourism sector of Kyrgyzstan.

The partners of the IFC project to promote investment growth in the tourism sector are the Ministry of Economy, the Ministry of Culture, Information and Tourism represented by the Tourism Department, and the Investment Promotion and Protection Agency.

The main objectives of the project, funded by the Swiss government, are to improve the system of accompanying investors in the country, strengthen the mechanism for preventing disputes with investors, and improve the quality of bilateral investment agreements between the Kyrgyz Republic and other countries.

A study of the segmentation of the tourism market will be carried out and measures will be taken to develop and promote the two most competitive segments of this market. A cost-benefit analysis will be carried out to improve air traffic and the possibility of launching new air routes in two market segments.

Another area of cooperation is the creation of an electronic register of administrative procedures.

The register will contain information on all administrative procedures existing in the country and have a convenient search system.