Kyrgyzstan needs legislative incentives to introduce green technologies

The need for legislative incentives for the introduction and use of green technologies in Kyrgyzstan was discussed at a meeting organized by the International Business Council (IBC) on December 14, 2022.

Representatives of government agencies, business associations, the expert community and the media attended the meeting.

Environmentally friendly, green technologies are now being used all over the world. The global community is making major efforts to make the green economy an effective development model based on green technologies.

Kyrgyzstan also needs to introduce green technologies in order to preserve its ecosystems and biodiversity and at the same time ensure income growth. To develop green tech, it is very important to have legislative incentives, arising from established international practices. These can be tax and customs benefits, affordable financing – business should benefit from the use of green technologies.

“We conducted a brief analysis of the currently available legislative incentives, and also developed proposals for introducing other necessary incentives for the transition to the use of green technologies based on international practice. As part of the study, incentives were considered in such important sectors for Kyrgyzstan as subsoil use, agriculture and tourism,” said IBC head Askar Sydykov.

An analysis carried out by IBC experts showed that, according to preliminary estimates, the agricultural block contains six environmental incentives. There are also six incentives in the mining industry and one in tourism, although it only indirectly affects the industry – zeroing customs duties and abolishing taxes on the import of electric vehicles in country.

These incentives are clearly not enough, and moreover, they are not systematized.