The Investment Council Secretariat is thrilled to announce the signing of Memorandums of Understanding (MoU) with three esteemed organizations during the CAMCA Regional Forum on June 13, 2024:

1. Capital Markets (Mongolia)
2. KANNA Group Ltd (Azerbaijan)
3. Asia Committee of Small Business (ASEAN)

This partnership marks a significant milestone in our commitment to fostering regional economic growth and collaboration. We aim to establish a partnership and develop long-term effective cooperation focused on the interaction and implementation of joint projects and initiatives to improve the business environment and investment climate, implement policies and mechanisms of public-private partnership, and protect the rights of investors and business entities.

By joining these reputable organizations, we are paving the way for a more vibrant and resilient economic landscape. This collaboration will not only strengthen our regional ties but also create new opportunities for innovation, sustainable growth, and prosperity for all involved parties.

Dear colleagues and partners,

The Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic warmly congratulates you on the Day of Financial and Economic Workers of the Kyrgyz Republic!

Your daily work plays a key role in the development and prosperity of our country. Thanks to your professionalism, dedication, and responsibility, the economy of the Kyrgyz Republic continues to grow and strengthen. You make an invaluable contribution to creating a favorable investment climate and ensuring financial stability.

Today, we express our special gratitude to everyone working in this important field. Your hard work, commitment to the cause, and pursuit of high standards deserve the most sincere words of appreciation.

President of the Kyrgyz Republic, Sadyr Japarov, has initiated a draft Law of the Kyrgyz Republic "On Amendments to Certain Legislative Acts of the Kyrgyz Republic in the Field of Protecting the Rights of Entrepreneurs and Investors." The concept of the draft law aims to enhance the protection of entrepreneurs and investors engaged in economic activities in the Kyrgyz Republic.

The draft law proposes to introduce corresponding changes to the Criminal Code of the Kyrgyz Republic, the Code of Offenses of the Kyrgyz Republic, and the Criminal Procedure Code of the Kyrgyz Republic.

Key changes include:

• Adding a new article 338 (1) to the Criminal Code of the Kyrgyz Republic, which provides for liability for obstructing lawful entrepreneurial activities.
• Increasing the fine stipulated in Article 436 of the Code of Offenses of the Kyrgyz Republic from 100 to 150 calculation indices, in connection with the increased liability for obstructing lawful entrepreneurial activities.
• Implementing alternative preventive measures (electronic monitoring, bail, house arrest) for entrepreneurs, as provided by the Criminal Procedure Code of the Kyrgyz Republic, to protect entrepreneurs from unjustified pre-trial detention.

Previously, this issue was also considered by the expert working group on improving the legislation of the Kyrgyz Republic, which regulates the issues of attracting investments, including foreign ones, developing tourism, aviation, the licensing system, and eliminating excessive control functions of state bodies. The Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic is part of this expert group.

These changes are aimed at creating favorable conditions for businesses and investors, as well as improving the investment climate in the country. The Secretariat of the Investment Council continues to actively participate in the development and promotion of initiatives that contribute to economic development and the protection of the rights of entrepreneurs and investors in the Kyrgyz Republic.

Today, May 31, 2024, within the framework of the forum "Interaction of Business, Education, Science, and Government: Opportunities and Ways of Regional Development," a Memorandum of Cooperation and Understanding was signed between the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, the Plenipotentiary Representative of the President of the Kyrgyz Republic in Osh Region, and Osh State University.

The Memorandum aims to establish partnership relations and develop effective long-term cooperation aimed at improving the business environment and investment climate, implementing policies and applying public-private partnership mechanisms, and protecting the rights of investors and business entities.

The signing of the Memorandum is an important step towards strengthening the interaction between educational institutions, government bodies, and the private sector. It is aimed at promoting joint initiatives in the field of entrepreneurship, investments, research work, development of small and medium-sized businesses, as well as implementing ESG principles and digital transformation of the economy.

We express our gratitude to all participants for their active involvement and support, and we hope that this cooperation will bring significant results in developing the economic potential of the regions.