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IBC activity

The International Business Council (IBC) Association promotes the creation of an attractive investment climate in Kyrgyzstan, promoting the necessary legislative acts and effective business methods and cooperating with state authorities, both local and international organizations.

Today we can proudly consider ourselves as one of the largest associations in the country promoting the interests of members, providing an opportunity to establish business networks in an informal atmosphere at various events of our organization.

The IBC is regarded as a reliable and respected partner of the Office of the President, the Government, the Jogorku Kenesh, the Ministry of Economy and other governmental agencies of the Kyrgyz Republic on all issues related to economic development and entrepreneurship.

We seek to express the opinion of the business community by strengthening its position in the society and the ability to influence the authorities' opinion in ensuring a better business environment, expanding the existing business and attracting new investors, thereby contributing to the economic development of the Kyrgyz Republic.

The IBC is one of the leading non-commercial organizations that influence state policies on the development of economy and entrepreneurship in the Kyrgyz Republic. The IBC is a member of several platforms that aim at the creation of favorable conditions for doing business.

National Council on Sustainable Development of the Kyrgyz Republic

Council on Business Development and Investment under the Government of the Kyrgyz Republic

Methodological Council on Coordinating Fiscal Policy under the Ministry of Economy of the Kyrgyz Republic

Interdepartmental Commission for the Reform of the System of State Regulation of Entrepreneurial Activities

Commission for Civil Monitoring of the Activities of State Bodies in the Sphere of Protection of Property Rights

Commission for Conducting Auctions for the Right to Use Subsoil Assets

Interdepartmental Working Group on Preparation of Proposals for Improving Legislation in the Field of Investment

Commission for Subsoil Use Regulation under the State Agency for Geology and Mineral Resources under the Government of the Kyrgyz Republic

The IBC takes an active part in the legislative process, providing its comments and recommendations to various draft normative legal acts, which are further taken into account by public authorities.

In 2012, IBC experts provided comments and suggestions to the first (draft bills “On mineral resources”, “On introduction of amendments and additions to the Tax Code of the KR”, “On introduction of amendment and addition to the law of the KR", "On non-tax payments”) and second (draft bills “On concessions in the KR”, “On mining concessions”, “On agreements on production sharing”, “On introduction of amendments and additions to the Tax Code of KR”) packages of draft bills on subsoil use;

On 28 September, 2012 IBC sent a letter with remarks and suggestions on the draft resolution by Kyrgyz Parliament “On establishment of customs export duties rates on goods exported from the territory of the KR”, which stipulated establishment of customs export duties rates on ores and concentrates of precious metals that are classified by code ТН ВЭД 2616. Apart from that, on 4 December 2012, IBC representatives spoke on this issue at one of the sessions of the parliamentary committee on fuel and energy complex and subsoil use. As a result, the parliamentary committee took into account the IBC remarks and recommended to send the draft resolution for revision;

In 2013, as a result of the IBC work, an amendment to the Article 217 of the Tax Code of the KR was revised. According to the amendment, which came into force on 1 January 2013, business enterprise and other economic entities since then are obliged to pay on a quarterly basis a provisional amount of income tax at a rate of 1% of revenue. IBC did not agree with the amendment since payments made in advance constitute a pre-payment on the income tax. Accordingly, the calculation should have been made in line with the tax base on income tax. The draft bill (amendment to the Article 217 of the Tax code of KR that brings all sides into original position) was adopted in three readings and signed by the President on 18 April 2013.

Besides the above-mentioned draft bills, IBC actively participates in the discussion of other normative legal acts, including the draft bill “On introduction of addition to the Law of the KR on banks and banking activity in the KR”, which stipulates a ban for banks to carry out any banking operations and transactions in offshore zones; new draft bills “On free economic zones in the KR”, “On introduction of amendments to the Tax Code of the KR”, as well as a draft constitutional law “On administrative activity and administrative procedures”, and many others.

Apart from the main operational and institutional activity, IBC participates in the implementation of various projects supported by international donor organizations.

In 2012, IBC implemented the projects funded by the European Union, GIZ and USAID “Reforma”. In the framework of a “Strengthening business intermediary organizations for sustainable economic development in Kyrgyzstan and Central Asia” project, where the main IBC counterpart was the European Centre for Eco and Agro Tourism (ECEAT), the following results were achieved:

Public Fund “Tourism Promotion and Development Board of Kyrgyzstan” was established to unite nine main tourism business intermediary organizations from three provinces of Kyrgyzstan;

On a competitive basis, the official tourism logo and slogan were selected for territorial marketing of Kyrgyzstan and a website for promotion of tourism was created, which subsequently was passed on to the Ministry of Culture and Tourism of the KR;

On 6-7 December 2012, a two-day regional conference on tourism was held in Bishkek - “On the way to the joint promotion of tourism in Central Asia”.

In 2013, IBC implemented the USAID Local Development Program project “Towards designing a roadmap for a 20-year national economic development strategy in Kyrgyzstan”.

For more information on our projects, follow the link

IBC Branch Activities