A new member has joined the Business Development and Investments Council under the Cabinet of Ministers of the Kyrgyz Republic - the Association of Virtual Asset Market Participants (AVAMP). This decision underscores the growing importance of the digital economy and opens new opportunities for the development of the crypto industry in the country.

Founded on October 14, 2024, AVAMP brings together leading companies and professionals working in the field of virtual assets. The Association’s mission is to create a sustainable and transparent ecosystem that fosters innovation, educational initiatives, and the responsible development of the cryptocurrency market in the Kyrgyz Republic.

AVAMP’s vision is to become a leading organization that sets standards and best practices in the field of virtual assets, protects the interests of market participants, and promotes the integration of the Kyrgyz Republic into the global cryptocurrency community.

Key areas of AURVA’s work include:

• supporting market participants and strengthening industry cooperation;
• contributing to the development and implementation of regulations ensuring market security and transparency;
• organizing educational programs to improve financial and crypto literacy;
• promoting innovation and the adoption of new technologies in blockchain and digital finance.

“The inclusion of our Association in the Business and Investment Development Council is a landmark event and a great honor for us. We see this as recognition of the importance of virtual assets and as a vote of confidence in our organization.
This membership gives us the opportunity to directly contribute to shaping the future of the industry — not only through the development of legislation but also through educational initiatives and the promotion of innovation. We will work to create a reliable and transparent environment to raise financial literacy among the population and ensure the stability of the market.
Our main goal is to make the Kyrgyz Republic a leader in the field of virtual assets in Central Asia. We are confident that our participation in the Council will help strengthen the country’s economy and attract investment.”

Temir Kazybay, Chairman of the Association

Last week, the Secretariats of the Regional Investment Councils (RICs) strengthened their field work, focusing on public-private partnership (PPP) practice, targeted business consultations, and building “short bridges” with local authorities. The agenda included clarifying mechanisms, collecting project ideas, and analyzing real-life cases.

August 12, Talas region, Kok-Oy village.
The Talas RIC Secretariat held a roundtable at the district administration building for entrepreneurs of Talas district with the participation of government representatives. They presented the RIC’s mandate and tools, explained step by step the PPP mechanism, the format for submitting initiatives, and the process of implementing joint projects. Participants raised questions on applying PPP at the district level and the conditions for business involvement, to which practical clarifications were provided.

August 13 and 15, Jalal-Abad region.
The Jalal-Abad RIC Secretariat conducted consultation sessions in the Nooken and Bazar-Korgon districts. In the morning — a group informational-consultative part: the concept and legal framework of PPP, forms and models, preparation and support of projects, and an overview of successful cases in the Kyrgyz Republic and the region. In the afternoon — fieldwork: identifying needs at the ayil okmotu level, preliminary review of PPP ideas, filling out the standard template for an initiative application, and a basic financial-legal feasibility assessment. Participants included akims and their deputies, city and ayil okmotu heads with investment specialists, potential investors, and entrepreneurs.

August 14, Jalal-Abad city.
A practical session was held for members of the city business association with the participation of representatives from the Tax Service and the Department of Architecture. Discussions focused on the RIC’s role as a platform for sustainable dialogue, the provisions of the PPP Law, and project implementation mechanisms. Entrepreneurs also heard real case studies from local companies. The Tax Service explained available benefits for SMEs in the city, while the Architecture Department provided clarifications on the legality of construction, grounds and timelines for demolition, alternatives for relocation of facilities, and compensation procedures in cases of expropriation.

Why is this important for business and municipalities?
RICs in the regions are building a single “entry point” for initiatives, where entrepreneurs receive guidance on legal and financial issues, and local authorities gain a tool for consolidating projects and receiving direct feedback from the market. As a result of the week, preliminary lists of PPP project ideas were collected, thematic mini-sessions were scheduled to select “quick” pilot projects, and agendas were prepared for upcoming RIC meetings.

This work is carried out under the framework of a tripartite cooperation agreement between the Secretariat of the Business and Investment Development Council under the Cabinet of Ministers of the Kyrgyz Republic, the United Nations Development Programme (UNDP) in the Kyrgyz Republic, and the PPP Center under the National Investment Agency.

Last week, a meeting was held at the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic to discuss a proposal for developing a legal and regulatory framework on self-regulatory organizations (SROs) in the country.

The meeting was attended by Uluk Kydyrbaev, Head of the Secretariat; Bakyt Samakov, Chief Legal Expert; Almazbek Musabekov, Chief Economic Expert; and members of the Investment Council - Sergey Ponomarev, President of the Association of Markets, Trade Enterprises and Services; Tatyana Kim, Chairman of the Board of the Chamber of Tax Consultants of the Kyrgyz Republic; and Ivan Geletyuk, Head of the Secretariat of the National Alliance of Business Associations (NABA).

The key focus of the discussion was the significance of this initiative in improving the business environment - particularly in terms of reducing bureaucracy, enhancing transparency, and increasing the efficiency of interactions between entrepreneurs and public authorities.

Self-regulatory organizations are associations of entrepreneurs - either sectoral or professional - to which the government delegates a range of regulatory and oversight functions. During the meeting, participants noted that introducing the SRO mechanism would allow the business community to take a more active role in regulating its own sectors, thereby helping to reduce excessive bureaucracy.

By transferring certain public functions to industry-specific associations - such as certification, categorization, and participation in compliance monitoring - administrative burdens on both businesses and public institutions could be reduced.

International practices were cited, where business-government interaction is often carried out through associations. This approach is expected to improve the transparency of rulemaking and ensure that the interests of the business community are considered at early stages of policy development.

Mechanisms for SRO accreditation and the participation of a broad range of associations in dialogue with the state are intended to ensure a balance of interests and a competitive environment among business associations.

Participants agreed that the development of a modern legal framework for self-regulatory organizations is both timely and necessary to further improve the country’s investment climate.

The Secretariat of the Investment Council will continue its work on the draft legal act on SROs in cooperation with associations and taking into account the proposals voiced during the discussion.

On July 29, 2025, a regional training seminar was held in Jalal-Abad Province at the initiative of the Regional Investment Council (RIC) under the Plenipotentiary Representative of the President of the Kyrgyz Republic in the region. The event focused on the institutionalization of RICs and the practical implementation of public-private partnership (PPP) mechanisms.

The seminar was chaired by the Plenipotentiary Representative of the President in Jalal-Abad Province, Tilek Tekebaev, and was attended by heads and deputy heads of districts and cities, specialists in investment and PPP, and representatives of small and medium-sized businesses. Remote districts such as Chatkal, Toguz-Toro, Toktogul, and the city of Kara-Kul joined the discussion via video conference.

Participants received detailed information on approaches to developing and implementing PPP projects, the role of RICs in this process, and the potential use of the regional Investment Map as a coordination and initiative-promotion tool. Particular emphasis was placed on the importance of establishing continuous cooperation with the RIC Secretariat, supporting business initiatives on the ground, and developing actionable proposals.

Mr. Tekebaev noted that as of July 17, 2025, the Regional Investment Council of Jalal-Abad Province has been officially relaunched and has begun active operations. He instructed local government leaders to designate responsible focal points for engagement with the RIC Secretariat, develop PPP project proposals, and contribute to the formation of a regional Investment Map by the end of the year.

At the conclusion of the seminar, participants discussed proposals to expand the province’s investment potential and further develop PPP mechanisms at the local level.

The activities of Regional Investment Councils are carried out within the framework of a tripartite cooperation agreement between the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, the United Nations Development Programme (UNDP) in the Kyrgyz Republic, and the PPP Center under the National Investment Agency.