Restoring of economic processes is one of the priority tasks for the next few years. Due to the pandemic, the pace of economic development slowed down significantly. This was influenced by many factors: border closures, supply disruptions, lack of production components. Not only Kyrgyzstan, but the entire world faced such difficulties. The situation was complicated by the fact that in recent years an unfavorable investment environment has been developed in the country. In addition, the problems associated with the coronavirus. Large investors during a pandemic set themselves the task of preserving capital in the first place. Besides, various events of previous years influenced the investment attractiveness of Kyrgyzstan.
In 2021, the Kyrgyz authorities took a number of actions to improve the investment climate in the country. Thus, the beginning was laid by the country's President Sadyr Zhaparov, when in January of this year he signed a decree "On the protection of property and support for entrepreneurs and investors."
The decree speaks about ensuring the safety of the activities of investment objects and property of investors, about strengthening supervision over the strict observance of legislation, about guarantees of freedom of entrepreneurial activity and protection of property and investments, and much more.
At the same time, during the year, various bodies carried out work to improve the investment climate. Conditions were created to attract investors to the country. In addition, during his state visits to various countries, Sadyr Zhaparov repeatedly met with representatives of the business communities.
“Kyrgyzstan pays close attention to creating favorable conditions for work and protection of investors,” the president of Kyrgyzstan noted on February 25 at a meeting with representatives of the large Russian business community.
Then the president added that given the strategic nature of Kyrgyz-Russian relations, it is more important for us than ever to give a new impetus to the expansion of comprehensive trade and economic interaction and production and investment cooperation.
“We clearly understand the need for the practical implementation of large investment projects, which, in turn, will contribute to the development of small and medium-sized businesses, as well as diversification of ties, the creation of new production facilities, and an increase in the added chains of the production and service cycle,” the head of state said.
In this context, the president noted that one of his first decrees after assuming office was aimed at the need to significantly improve the investment environment, business climate and free movement of capital.
“One of the main points of the decree is to ensure the safety of investment objects and property of investors, within the framework of which the relevant work of the competent authorities of the republic has been strengthened. At the legislative level, measures will be taken to simplify the procedures for the preparation, consideration and implementation of investment projects,” Sadyr Zhaparov said.
In addition, one of the reasons for the creation of the Anti-Corruption Council was precisely the improvement of the investment climate.
“The main goal of the creation of the Anti-Corruption Business Council under the President of the Kyrgyz Republic is to improve the main directions of state policy in the field of anti-corruption, to ensure an effective dialogue between government authorities and civil society on anti-corruption issues, as well as to create favorable conditions for business development, improve the investment climate and mechanisms for protecting and supporting the activities of business entities,” the presidential press service said in a statement.
In Turkey, the issue of attracting investors to Kyrgyzstan was also prioritized by Sadyr Zhaparov. During his visit in November, he met with representatives of the Turkish business community and urged them to invest in Batken region.
The head of state told Turkish entrepreneurs about the assignment of a special status to the region. The Kyrgyz president believes that giving the Batken region a special status will improve the quality of life due to the socio-economic development of the region. This will enable business development, employment and regional development.
The president added that in accordance with the legislation of the country, special preferential tax and investment regimes will operate on the territory of the region.
He explained that entrepreneurs investing in the region are exempted from four types of taxes: property tax, land tax, income tax and sales tax. At the same time, customs duties on the import of industrial, useful and necessary goods will be reduced to 0%, and income tax - from 10% to 5%.
“Kyrgyzstan is interested in implementing joint projects aimed at expanding industrial cooperation, developing public-private partnerships, the agricultural sector, as well as mining and light industry, hydropower and other industries of mutual interest. Turkish companies and entrepreneurs will be able to use all the opportunities available in Kyrgyzstan, actively invest in joint ventures that add value to the country, and can fully use the potential of Kyrgyz-Turkish cooperation,” the president said during the meeting.
In addition, the improvement of the investment climate was repeatedly discussed on internal platforms among the expert community, and programs were developed to improve the situation. Prospects were discussed among the expert community of Kyrgyzstan.
Kabar News Agency
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