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Measures needed to protect private property and investment in Kyrgyzstan

February 16, 2020

“We need to take special measures to guarantee the inviolability of private property and investments,” Prime Minister of the Kyrgyz Republic, Mukhammedkaly Abylgaziev said at a meeting of the Business Development and Investment Council on February 13, 2020.

The Head of Government spoke about key initiatives raised by business in 2019:

• A moratorium was introduced on conducting inspections of business entities for 2019-2020, (in 2019, inspections were reduced 8-fold);

• A new version of the Law “On Public-Private Partnerships” was adopted (a PPP Center was created and a portfolio of 29 projects worth 300 million US dollars was formed);

• The Business Ombudsman Institution was established;

• The administration of social contributions was transferred to the Tax Service (only in January 2020, the fees increased by 43%)

• A fifth degree of freedom of air (open skies) was introduced;

• The Jewelry Industry Development Concept for 2019-2022 was approved;

• A Plan to improve the country's indicators in the Doing Business rating for 2019-2020 was adopted.

Last year’s results create the foundation for future economic transformations in the country. Next, we need to take special measures to guarantee the inviolability of private property and investments. We must eliminate any bureaucratic delays in starting and running a business. It is also about the transformation of some lands for the implementation of investment projects and projects in the framework of public-private partnership. An important issue is the increase in sources of financing business in the regions, including through the regional development funds. Entrepreneurs should see that working legally is not only safe but also profitable,” said Abylgaziev.