Bishkek, Jan. 26, 2021. /Kabar/. The draft law "On Amendments to the Law "On Investments in the Kyrgyz Republic" is submitted for public discussion starting from Jan. 26, 2021.
Deputies Iskander Gaipkulov and Nurlan Sydygaliev are initiators of the Law.
This bill is designed to expand economic opportunities of the country, improve the investment attractiveness of the country, stimulate the development of industries and attract investment in the economy to ensure sustainable economic development of the Kyrgyz Republic.
In international practice, investment protection is commonly understood as a series of actions aimed at the efficiency and safety of investments.
The actions are controlled and taken by the state and include economic, technical and legal adjustments, with the help of which the investor can reduce the level of risks and preserve capital in the event of adverse conditions for its projects and business.
In this regard, an authorized state body should be established in Kyrgyzstan whose tasks will include following:
- solving the issues of attracting investment to the country;
- supporting investors in overcoming administrative barriers;
- improving customs, tax and administrative legislation;
- development of tools to improve the attractiveness of business projects of the Kyrgyz Republic for investing in the country.
At present, however, the Agency for Investment Promotion and Protection of the Kyrgyz Republic, formed under the Government, has not produced the expected results and failed to take the necessary effective measures to improve the investment attractiveness of the country.
At the same time, the state body should be empowered to solve problems in the field, including protection and promotion of investments and be accountable to the head of state - the President.
Comments
Post Comment