Kyrgyz Prime Minister meets with major international companies in Davos


Prime Minister of Kyrgyzstan Sapar Isakov, as part of his participation in the World Economic Forum (WEF) in Davos (Switzerland), met with representatives of several major international companies, the press service of the Government reported.

The Head of Government had five meetings where he spoke in detail about the investment attractiveness of Kyrgyzstan and favorable conditions for investors in our country.

Isakov had meetings with the Chairman of the World Energy Council, the Head of Daesung Company Kim Young Sun. He also met with the Head of the Investment Corporation of Dubai and the owner of airlines Fly Dubai, Emirates Airline Muhammad Al Shaibani, Senior Advisor of ICD Chang Sun Yoon, Co-founder and the Head of Sahara Group Tony Cole and Chairman of the Manchester United Football Club Avi Glaser.

"Attraction of investments is one of the main tasks of the Government under my leadership, which in future will create additional jobs, as well as the prerequisites for future long-term economic growth. The arrival of such large companies in our country will give impetus to the development of the economy of Kyrgyzstan. And we, on our part, are ready to provide all kinds of assistance and support to interested investors," the Kyrgyz Prime Minister said.

The Head of Government stressed that the government is currently implementing the medium-term program Forty Steps to New Era for the period of 2018-2023, two main areas of which are related to business development.

"The first is the national program Taza Koom, aiming at reduction of bureaucratic barriers in implementation of public services by digitizing the relationship between business and the state. The second direction We are with business is focused on creating favorable conditions for investors. In Sept. 2017, the government approved the Regulation on the Stabilization Regime allowing any investor investing at least $3 mln USD within 3 years in the economy of Kyrgyzstan to take an advantage of the stabilization regime. Thus, for 10 years to use one tax regime regardless of changes in tax legislation," Isakov said.

Moreover, the Head of Kyrgyz Government informed that in order to create favorable conditions for investors in Kyrgyzstan, the threshold amount of investments in the economy of the country for obtaining an investment visa has been reduced from $500 thousand USD to $145 thousand USD (10 mln.soms). In addition, at present, in order to simplify investment activities, key laws such as the Law on Investments and Law On Public-Private Partnership is under consideration.

During the conversation, Isakov suggested sectors that the meeting participants should consider of investing in our country. These areas are in hydropower, mining projects, as well as projects in the field of tourism and digitalization of Kyrgyzstan.

Following the meeting, the Kyrgyz Prime Minister invited business representatives as guests to take part in the opening ceremony of the Third World Nomad Games, which will take place in September this year on the shore of Lake Issyk-Kul.

Reported by Kabar (Kyrgyzstan).