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Meeting with Development Funds and State Banks

Meeting with Development Funds and State Banks

Thursday, 07 March 2024

On January 26, 2024, a meeting convened between the Secretariat of the Investment Council, the Ministry of Economy and Commerce of the Kyrgyz Republic, and representatives from development funds and state banks. Notable participants included the State Development Bank of the Kyrgyz Republic, the Azerbaijan-Kyrgyz Development Fund, the Uzbekistan-Kyrgyz Development Fund, the Hungary-Kyrgyz Development Fund, the Russia-Kyrgyz Development Fund, the public joint-stock company "Aiyl Bank," and the public joint-stock company "RSK Bank.”

The meeting was organized to fulfill the tasks assigned following the previous session of the Investment Council in December of the preceding year. The primary objective was to assess the current status of development funds and state banks, and to discuss plans and prospects for the year 2024.

During the meeting, emphasis was placed on the forthcoming session of the Investment Council, with a specific focus on the financial centers of the country, especially the operations of state development banks and development funds. These institutions play a pivotal role in shaping the investment climate, directly influencing the economic stability and development of the nation. Participants were provided with specific guidance regarding the information to be presented at the upcoming session, aimed at enhancing the efficiency of the meeting.

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Investment Council Shifts to a New Operational Framework

Investment Council Shifts to a New Operational Framework

Friday, 19 January 2024
During the recent session, Akylbek Usenbekovich Japarov, the Chairman of the Investment Council and the Prime Minister of the Kyrgyz Republic, emphasized that in 2024, the Investment Council should shift to a new working basis. Meetings should not only address issues related to legal acts but also encompass significant investment projects, subject to review and approval during sessions. In the first 100 days of 2024, the government will undertake initiatives aimed at attracting investments.
Members of the Investment Council were encouraged to actively participate in the preparation and execution of upcoming international investment events scheduled for the spring and summer of 2024.
Additionally, Akylbek Japarov highlighted the government's efforts to repeal laws that impede investment attraction into the country. In this regard, the Chairman of the Investment Council instructed Council members (business association leaders) to submit proposals to the Council's Secretariat by February 1, 2024, suggesting the annulment of legislative norms hindering investment attraction and protection.
Furthermore, the concept of the draft law of the Kyrgyz Republic "On Investments in the Kyrgyz Republic," prepared by the National Agency for Investments under the President of the Kyrgyz Republic, was approved.
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Annual Meeting

Annual Meeting

Friday, 19 January 2024
On December 25, a concluding meeting unfolded, featuring representatives from government entities and business associations.
The event acknowledged the contribution of the previous team of the Secretariat of the Investment Council, headed by Talaibek Jumashovich Koichumanov. He was presented with a special certificate signed by the Vice Chairman of the Investment Council, the Secretary of the Investment Council, and the Head of the EBRD in Central Asia.
Appreciation letters were also awarded to active members of the Council for their active participation in the public-private dialogue aimed at improving the business environment and investment climate.
"Emphasizing the sustainability, stability, and effectiveness of the Investment Council as a unique platform for high-level public-private dialogue, which has been successfully functioning for over 16 years. This is confirmed by our achievements and significant decisions made during joint discussions. A crucial aspect has been the strengthening of mutual trust and understanding between government bodies and the business community. The Secretariat has fostered an atmosphere conducive to achieving mutually acceptable outcomes," noted the head of the Secretariat, Uluk Kadyrbaev.
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Investment Council Meeting

Investment Council Meeting

Wednesday, 20 December 2023

On December 19, 2023, under the chairmanship of the Prime Minister of the Kyrgyz Republic and Chairman of the Investment Council, Mr. Akylbek Japarov, another meeting of the Investment Council took place at the Administration of the President of the Kyrgyz Republic. Representatives of business associations, government bodies, international organizations, development funds, state banks, and the Secretariat of the Investment Council attended the meeting.

 

The Investment Council under the Cabinet of Ministers of the Kyrgyz Republic serves as a pivotal platform for public-private dialogue on improving the business environment, enhancing the investment climate, and promoting the development of public-private partnerships. It also focuses on safeguarding the rights of investors and entrepreneurs to achieve.

 

The agenda of the meeting included several critical issues:

Amendments to the Law of the Kyrgyz Republic "On Restricting the Circulation of Packages Made of Polymer Film and Plastic Products on the Territory of the Kyrgyz Republic."

Presentation of the new version of the Law of the Kyrgyz Republic "On Investments in the Kyrgyz Republic."

Results and plans for developing public-private partnerships PPP in the Kyrgyz Republic.

In addition, the results and further work plans of the Investment Council for 2024 were discussed.

At the conclusion of the meeting, relevant protocol assignments were issued.

* The project is supported by the European Bank for Reconstruction and Development (EBRD)

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