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IBC proposals are included in the the Investment Council Action Plan

April 6, 2024

Proposals of the International Business Council to improve the investment climate in Kyrgyzstan have been included in the Action Plan of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic for 2024.

This was announced on April 5, 2024 by IBC head Askar Sydykov following the Investment Council meeting chaired by Akylbek Japarov, the Chairman of the Cabinet of Ministers – Head of the Administration of the President of the Kyrgyz Republic.

Development funds and state banks informed the meeting participants about the work done and plans for 2024. In Kyrgyzstan, there are the Uzbek-Kyrgyz Development Fund, the Russian-Kyrgyz Development Fund, the Hungarian-Kyrgyz Development Fund, the State Development Bank of the Kyrgyz Republic, as well as Aiyl Bank OJSC, RSK Bank OJSC and the State Development Bank of the Kyrgyz Republic.

The Social Partnership Fund for Regional Development informed on the creation of an Investment Projects Catalog for the upcoming event as part of the official visit of the Kyrgyz delegation to Europe.

Askar Sydykov proposed to consider a more active participation of the State Development Bank in the formation and development of venture and angel financing in the Kyrgyz Republic.

The Investment Council Secretary Uluk Kydyrbaev announced the Council’s action plan 2024. The draft plan provides for organizing a meeting in the Batken region, as well as creating a Donor Coordination Council at the Investment Council to support the activities of business associations and develop measures to increase their capacity.

It is planned to create a permanent dialogue platform between employers and universities to develop measures to adapt the education system in accordance with the requirements of the labor market.

It is also planned to develop recommendations based on the principles of the green economy for adapting business to climate change.

A bill on public-private partnership issues will be developed and submitted for wide discussion with the business community and government agencies.

The Investment Council Action Plan also includes IBC initiatives on current problematic issues of the business community including the protection of private property and investments, the exclusion of unjustified interference in business activities; improving the system for regulating business activities, creating a favorable business environment; liberalization of legislation for foreign investors and qualified specialists; and other issues.