We are pleased to present the 2024 Annual Report of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic. This report highlights our key achievements, strategic initiatives, and the outcomes of our work over the past year.

What you will find in the report:

• Key figures and milestones from 2024
• Successes in consolidating the regulatory framework
• Advancements in renewable energy and PPP projects
• Development of the Regional Investment Councils (RICs) network
• Media initiatives and contributions to strengthening economic journalism
• Plans for 2025

The Annual Report not only summarizes the results of our work but also reaffirms our commitment to openness and collaboration with businesses, government institutions, and international partners.

We extend our heartfelt gratitude to our partners, donors, and colleagues who supported us throughout the year. Your contributions and involvement were integral to our achievements.

We welcome your suggestions and ideas. For more details on how to submit your proposals, please see the “Open to Your Proposals” section.
Download the PDF version of the report here.

Thank you to everyone who joined us in 2024! Together, we look forward to pursuing new goals, launching impactful projects, and seizing opportunities for shared growth.

On December 18, 2024, the Jogorku Kenesh (Parliament) of the Kyrgyz Republic adopted the draft of the new Labor Code, as well as the law "On the Introduction of the Labor Code of the Kyrgyz Republic and Amendments to Certain Legislative Acts in the Sphere of Labor," in its second and third readings.

Work on this significant document began in 2022 at the initiative of the business community. The primary goal was to enhance the country's investment attractiveness and simplify the application of labor law norms. The key task was to create a logical and user-friendly framework for labor legislation.

The idea of updating the Labor Code was proposed by the International Business Council and discussed during a meeting of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic. Based on the discussion, the Ministry of Labor, Social Protection, and Migration was tasked with developing a draft document in collaboration with business associations, trade unions, and experts. The draft aimed to balance the interests of workers and employers while incorporating best international practices.

The new version was developed by an interdepartmental working group that included representatives from government agencies, trade unions, business associations, and international organizations. Input from all stakeholders was considered, resulting in a balanced document that protects workers' rights while fostering a favorable environment for businesses.

The adopted amendments mark a significant step toward modernizing labor legislation, improving the business climate, and protecting labor rights in the Kyrgyz Republic. This document provides a solid foundation for aligning economic development with the protection of workers' rights and enhancing the country’s investment appeal.

We are proud to share with you a video celebrating the 17th anniversary of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic. This is more than just a milestone—it’s an opportunity to reflect on the journey, recognize achievements, and outline future plans.

? Since 2007, with the support of the EBRD, the Investment Council has been a key platform uniting the government, business community, and international partners. It has served as a hub for generating critical initiatives, making decisions, and strengthening partnerships.

? Over the years, more than 60 sessions have been held, addressing some of the most pressing economic issues, from tax reforms to creating conditions for the development of creative industries.

? More than 160 initiatives have come to life, including optimizing the regulatory framework, launching the High Technology Park, introducing electronic visas, and improving licensing procedures. These measures have driven economic growth and boosted the country's competitiveness.

? Our progress is reflected in the Doing Business ranking, where Kyrgyzstan has climbed from 98th to 46th place, solidifying its position on the global investment stage.

We extend our heartfelt gratitude to all our partners for their productive collaboration, support, and trust. Together, we continue to advance the Council's mission, opening new opportunities for business and the economy of the Kyrgyz Republic.

The VIDEO is available here

On December 17, 2024, a strategic session titled "The Role of a Sustainable PPP Platform in the Successful Implementation of State Investment Policy" was held. Uluk Kydyrbaev, Head of the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, summarized the Council’s annual performance. Key priorities for improving the investment climate in the Kyrgyz Republic were also outlined.

This year marked the 17th anniversary of the Investment Council. As part of the event, achievements were presented, including the successful implementation of projects and improvements to the regulatory framework for businesses and investors. Guests reflected on the Council's establishment and evolution, highlighting how, despite changes in its composition and structure, it has remained the premier high-level platform for dialogue between the public and private sectors.

Participants emphasized the Council's significant role in attracting investments and supporting strategic initiatives. This event was part of a seminar focused on addressing key issues of state investment policy and exploring ways to further enhance the investment environment.

Speakers included:

• Jyparisa Rysbekova – Head of the Sectoral Policy Department and Deputy Head of the Presidential and Cabinet of Ministers Administration’s Decision Preparation Division;
• Damirbek Bikulov – Deputy Director of the National Investment Agency under the President of the Kyrgyz Republic;
• Dmitry Pyatachenko – Country Manager of the International Finance Corporation (IFC);
• Anvar Abdraev – President of the Union of Banks of Kyrgyzstan;
• Tatyana Kim – Chairperson of the PNK KR Board;
• Aziza Yuldasheva – President of the Coalition for Women’s Entrepreneurship;
• Elvira Borombaeva – President of the Small Hydropower Association;
• Rustam Baltabaev – Executive Director of the Agribusiness Development Association.

The event brought together representatives of government bodies, the business community, and international organizations.