To amplify the regional impact of the CAMCA (Central Asia - Mongolia - Caucasus - Afghanistan) region as an emerging institutionalized market, the Investment Council Secretariat hosted the ASEAN-CAMCA Region-to-Region Dialogue. This event, a side event of the CAMCA Regional Forum 2024, was held to connect the CAMCA region with ASEAN (Association of Southeast Asian Nations), known for its successful track record of regional integration and cooperation. Leaders from both regions came together to explore untapped opportunities for enhancing people-to-people connections, economic prosperity, and regional peace.

Key Highlights:

• Investment Climate and Doing Business in the Kyrgyz Republic Uulk Kydyrbaev, Head of the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, presented an in-depth analysis of the investment climate in the Kyrgyz Republic. He highlighted key opportunities, regulatory frameworks, and the business environment to attract ASEAN investors to the region.
• Country Profile: Kyrgyz Republic and CAMCA Forum Invitation Jenny Jenish kyzy, Chair of the Board of Directors of the CAMCA Network and Head of the Kyrgyz Organizing Team for the CAMCA Regional Forum 2024, presented a detailed country profile of the Kyrgyz Republic. She also extended an official invitation to the CAMCA Forum, emphasizing the strategic importance of the event in fostering regional cooperation and development.
• Regional Integration - Lessons from ASEAN A representative from the USA within the CAMCA Network presented insights on ASEAN’s successful model of regional integration. They shared valuable lessons and strategies that CAMCA could adopt to enhance regional cooperation and economic integration.
• CAMCA: Emerging Regionalization The USA representative from the CAMCA Network also discussed the emerging trends of regionalization within CAMCA, highlighting the potential for increased economic and political cooperation among member countries.
• Why ASEAN is Interested in the CAMCA Market? Eric Ku, Head of the ASEAN Delegation, outlined the strategic interests of ASEAN in the CAMCA market. He highlighted the benefits of establishing closer economic ties and emphasized ASEAN's commitment to exploring investment opportunities in CAMCA.

The event provided a platform for experience sharing, highlighting best practices of ASEAN enterprises, and presenting opportunities for Kyrgyz enterprises. This dialogue marked a significant step in fostering partnerships and exploring synergies between the two dynamic regions, leveraging their combined market of 800 million people for mutual benefit.

By bringing together stakeholders from ASEAN and CAMCA, this event underscored the potential for enhanced cooperation and integration, paving the way for a more prosperous and peaceful future for both regions.

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.