Business Development Program of Kyrgyzstan until 2026 presented in Bishkek

Bishkek, April 18, 2023. /Kabar/. The Business Development Program of the Kyrgyz Republic until 2026 was discussed at a round table in Bishkek.

The round table was organized by the Ministry of Economy and Commerce of Kyrgyzstan as part of the Business Development and Entrepreneurship Support through Dialogue project with the support of the American Chamber of Commerce in the Kyrgyz Republic.

The event was attended by representatives of state bodies of the country, business associations and experts.

The Business Development Program of the Kyrgyz Republic until 2026 is the business agenda for business, which contains the main directions and tasks for the development of the country, provides for a policy for the development of the business environment and investment climate. The program is modeled in two directions: anti-crisis measures aimed at responding to external factors affecting the economy; systemic measures - to ensure the economic growth of the country.

“The program was adopted for the implementation of the National Development Program of the Kyrgyz Republic until 2026, taking into account the new crisis circumstances emerging in the world and the Central Asian region,” said Ainura Usenbekova, Deputy Minister of Economy and Commerce of the Kyrgyz Republic.

“The priorities of the Program are the provision of fiscal preferences, the simplification of administrative procedures and the creation of conditions for the development of certain industries.”

According to the presented document, the republic provides for a transition to a service model for business. It is also envisaged that the tax payment procedure will be simplified as much as possible, taxes that directly or indirectly restrict the free movement of goods, works and services or financial resources within the country's territory will be unacceptable.

The state will intensify information work among taxpayers about the current taxes and fees, the process of tax audits will be streamlined and the principle of "one agency - one audit" for tax audits will be introduced.

Further measures will be taken to improve the system for appealing against decisions of the tax authorities in order to increase the transparency and competitiveness of the process.

In addition, it is planned to reduce control functions and the degree of interference in the activities of business entities by introducing a moratorium on the introduction of new types of licenses and permits.

It is proposed to introduce a KPI system in all government bodies to assess the contribution to the economy, taking into account the link to international ratings.

Conditions will be created to increase the potential of knowledge in the field of entrepreneurship, business readiness for possible challenges and timely adaptation to new business conditions.

It is planned to bring the financial system in line with the requirements of the ESG and other international funds to expand the possibility of access to financial resources.

“The uniqueness of the Program lies in the fact that it was developed entirely with the participation of representatives of business structures, and each measure provides a great opportunity for business,” the deputy minister added.