The Business and Entrepreneurship Development Council at the Parliament Speaker (Business Kenesh) reviewed the problems and prospects of entrepreneurial activity in the FEZ.

Parliament deputies, heads of ministries and departments, and representatives of business associations, including the International Business Council (IBC), took part in the meeting held on April 2.

The meeting participants heard a report by Abdilla Arzymatov, head of the Council’s secretariat, on the implementation of the Council’s decisions for 2018.

The main topic was the discussion of the problems of entrepreneurs working in free economic zones of Kyrgyzstan.

“It is very important to create new types of free economic zones in our country, introducing clusters and innovative technologies, especially in connection with the Year of Regional Development and Digitalization announced in Kyrgyzstan,” said IBC Executive Director Askar Sydykov, summing up results of the meeting of the Business and Entrepreneurship Development Council at the Parliament Speaker held on April 2, 2019.

“The second generation of the FEZ, created by reforming the current model, can become that very center for attracting investments that are so necessary for our country. Therefore, we support the proposal to improve the Law on Free Economic Zones in the Kyrgyz Republic,” the IBC head concluded.

The meeting participants recommended to creation of an expert group that would explore ways to improve legislation regulating the FEZ activities, taking into account international experience.

The Business and Entrepreneurship Development Council aims to consolidate the potential of the business environment in the country, increase investment attractiveness, and promote entrepreneurial activities in Kyrgyzstan. The Council is a platform for the development of proposals and recommendations in legislation regulating business activities and monitoring and analysis of regulatory legal acts in the field of entrepreneurship.