On February 12th, a meeting was held at the Investment Council Secretariat's office with World Bank experts as part of a technical mission scheduled for February 12–16, aimed at analyzing the business environment's favorability in the Kyrgyz Republic. The team comprises Karen Grigoryan (Senior Private Sector Development Specialist, Team Leader), Goar Gyulumyan (Senior Economist), Bakyt Dubashev (Senior Economist), Valentina Saltane (Senior Private Sector Development Specialist), Lev Freinkman (Consultant), and Nurlanbek Tynaev (Consultant). A roundtable is set for February 13th to present findings on legislative and institutional barriers to business. This analysis will not only identify current barriers but also offer solutions to overcome them, thereby strengthening the investment climate and supporting businesses of all sizes.

On January 30th, the II National Tax Forum, themed 'The Path of Digital Transformation of the Tax System,' took place in Bishkek.

The event was attended by the Prime Minister of the Kyrgyz Republic, Akylbek Japarov, members of the Jogorku Kenesh (Parliament), representatives of government bodies, business communities, international organizations, educational institutions, entrepreneurs, and the head of the Secretariat, Uluk Kydyrbaev.

"In every country, the tax system is one of the most crucial economic regulators, serving as the foundation of the financial mechanism for state economic regulation. Taxes are the primary financial resource of the state, making effective tax management the cornerstone of overall government governance. In this context, the Tax Code serves as a socially significant instrument for the successful implementation of tax policies, guaranteeing legal interaction between the government, businesses, and citizens," noted Uluk Kydyrbaev. He also emphasized that in the current dynamic realities of our lives, with changing global trends, tax legislation should be a flagship in terms of flexibility and rapid adaptation.

The forum presented information on tax administration issues, the implementation of digital technologies, and the results of the Tax Service's activities for the year 2023.

Prime Minister Akylbek Japarov also addressed the II National Tax Forum, highlighting key points in his speech:

• Taxes not only carry obligations but also serve as a significant contribution to the country's and society's development, creating a resilient economy.
• The country's GDP has reached a historical record of 1 trillion 228.9 billion soms.
• Thanks to the enthusiasm of entrepreneurs, the national economy is becoming more resilient.
• Every investment contributes to the future, and we encourage building businesses conscientiously.
• It is essential to make the economy more transparent – a shared goal.
• Systematic work is underway to modernize, automate, and improve tax administration.
• Visualization of goods movement within the country and beyond is one of the key tasks.

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.