Eldar Abakirov discusses issues of FEZ with business community

Bishkek, Feb. 8, 2019. /Kabar/. Deputy Minister of Economy of Kyrgyzstan Eldar Abakirov met with head of the Secretariat of the Council for Business and Entrepreneurship Development under the Speaker of the Jogorku Kenesh (Kyrgyz Parliament) Abdilla Arzymatov, expert of the BizExpert analytical center Alexey Dogadin and representatives of the American Chamber of Commerce in Kyrgyzstan to discuss the development of free economic zones in Kyrgyzstan, the press service of the Ministry of Economy of the Kyrgyz Republic reported.

During the meeting, business representatives voiced a number of problematic issues related to the taxation of FEZ entities, and also made proposals for the development of the institute of special economic zones in the republic.

In turn, Deputy Minister Abakirov informed those present about the situation related to the expiration of benefits for exemption from VAT payment when exporting goods from the territory of the FEZ to the common territory of the Kyrgyz Republic, previously granted to FEZ entities registered before the Law on Amendments and Additions to the Law on Free Economic Zones in the Kyrgyz Republic dated September 20, 2000 entered into force.

In addition, the meeting participants received explanation on the current tax benefits for FEZ entities and the advantages of doing business in these territories, as well as the measures taken by the Ministry to create favorable conditions for doing business in the FEZ and improving administration of business processes of the general directorates.

In conclusion, the deputy minister noted that the Ministry of Economy is always open to a constructive dialogue with the business community, and all the suggestions made by experts to further improve the development policy of the FEZ will be worked out jointly with the concerned parties.