Approved
by Regulation of the Cabinet of Ministers
of the Kyrgyz Republic #149
dated May 16 2022

Appendix

 

Regulation

on the Investment Council

under the Cabinet of Ministers of the Kyrgyz Republic

 1. Main Regulations

    1. The Investment Council under the Cabinet of Ministers of the Kyrgyz Republic (hereinafter – the Council) is a permanent consultative and advisory body that ensures an effective dialogue between the state and the            business community to improve the business environment and investment climate, as well as to develop public-private partnerships (hereinafter - PPP), protecting the rights of investors and business entities to                    achieve accelerated socio-economic development of the country.       

    2. The main principles of the Council’s activities are:

• openness and impartiality;
• consideration of the views of the business community in preparing and making decisions;
• validity of prepared decisions;
• equality of Council’s members;
• results-orientation.

    3. The Council shall be guided in its activities by the Constitution of the Kyrgyz Republic, laws of the Kyrgyz Republic, decisions of the President of the Kyrgyz Republic, other normative legal acts of the Kyrgyz                        Republic, as well as these Regulations. 

 2. The Purpose and Objectives of the Council

     4. The purpose of the Council is to build a sustainable dialogue and interaction between public authorities and the business community on improving the business environment and investment climate, developing the             mechanism of public-private partnership and improving the mechanisms for legal protection of business entities.

     5. The objectives of the Council are:

• ensuring a systematic effective dialogue between the state and the business community to improve the business environment and investment climate;
• development of recommendations and proposals to state bodies and local authorities on improving the business environment, investment climate, policy implementation and application of PPP mechanism;
• contributing to formation of unified coordinated public policy in the field of business, investments and PPP;
• conducting regular monitoring, analysis and evaluation of the implementation of the Council's recommendations.

 3. Powers of the Council

      6. Powers of the Council:

• develop proposals to improve the business environment, increase the investment attractiveness of the country and promote business in the framework of PPP;
• conduct an expert review of normative legal acts in the field of business, investment and PPP, as well as prepare recommendations for their improvement;
• make recommendations to the Cabinet of Ministers of the Kyrgyz Republic on improving the business environment, increasing investment attractiveness and developing PPP in the Kyrgyz Republic;
• at the initiative of the heads of state bodies, local authorities and others, to hear at their meetings relevant information related to issues within the competence of the Council;
• make appropriate recommendations to state bodies and local authorities on issues within the competence of the Council and monitor the progress of their implementation;
• involve specialists from state bodies, local authorities, other organisations and experts, including international ones, to carry out expert evaluations of the implementation of measures in the areas under consideration;
• monitor the activities of state executive bodies and local authorities on the implementation of PPP projects;
• request in accordance with the established procedure, the necessary materials from state executive bodies, local authorities, business entities, non-profit and research organisations;
• approve a system for monitoring the implementation of decisions taken by the Council;
• establish a system to evaluate the performance of the Council Secretariat staff using key performance and efficiency indicators;
• attracting investment, supporting and developing business entities and effectively developing PPPs in the Kyrgyz Republic.

 4. Chairman and Members of the Council

     7. The Chairman of the Council is the Chairman of the Cabinet of Ministers of the Kyrgyz Republic.

     8. Members of the Council: 

• ex officio:
• First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, in charge of economic and financial issues, Deputy Chairman of the Council;
• Deputy of the Jogorku Kenesh of the Kyrgyz Republic, member of the Committee on Budget, Economic and Fiscal Policy of the Jogorku Kenesh of the Kyrgyz Repunlic (as agreed);
• Heads of authorized state bodies in the field of economic development and support of entrepreneurship, budget and finance, on issues of attracting investments;
• Heads of structural subdivisions of the Presidential Administration of the Kyrgyz Republic supervising the issues of monitoring and analysis of reforms, examination of decisions of the President and the Cabinet of Ministers;
• Head of the PPP project coordination body;
• Authorised person for the protection of the rights, freedoms and legitimate interests of business entities (Business Ombudsman - as agreed);
• Chairman of the Chamber of Commerce and Industry of the Kyrgyz Republic (as agreed);
• Two representatives of international development partners providing support on issues within the competence of the Council (as agreed);
• representatives of the business community (as agreed) in accordance with the procedures under the present Regulations;
• Council Secretary.

     9. Members of the Council participate in its work on a voluntary basis, with the exception of the Secretary of the Council.

    10. The procedure for the election of the members of the Council, who do not represent public authorities, shall be based on the following provisions:

• the international development partners shall propose to the Secretary of the Council their representatives on a rotating basis from multilateral and bilateral international development partners in accordance with the procedures established by them;
• the Secretary of the Council is appointed on a competitive basis according to the procedures of the international development partner funding the Council's working body;
• the business community shall submit its candidatures to the Secretary of the Council.

    11. Members of the Council, representatives of the business community directly involved in the preparation of issues submitted to the Council, shall participate in the meeting of the Council.

 5. Organization of the Council’s Activities

 

    12. Meetings of the Council are held as necessary by decision of the Council, but at least once a quarter.

    13. A meeting of the Council may be held on behalf of the President of the Kyrgyz Republic and with his participation.

    14. Meetings of the Council are held by the Chairman of the Council, in his absence, the Deputy Chairman or one of the members of the Council to whom the powers of the Chairman have been delegated.

    15. Meetings of the Council shall be deemed competent if at least 2/3 of its members are present.

    16. At the suggestion of the members of the Council, meetings at the level of the relevant ministries and agencies authorized representative offices of the President of the Kyrgyz Republic and local authorities on                    issues within their competence may be held by decision of the Chairman of the Council.

    17. Meetings of the Council may be held remotely via videoconferencing.

    18. The agenda of the Council is approved by the Chairman of the Council upon presentation of the Secretary of the Council.

    19. Decisions on the issues under consideration are taken by a simple majority of votes from the total number of members of the Council present and are drawn up in the form of a protocol. In case of equality of                    votes, the vote of the Chairman of the Council meeting is decisive.

    20. Council decisions are advisory character.

    21. To implement the tasks and functions of the Council on a permanent or temporary basis the expert working groups of the Council may be established. The decision to create working groups of the Council is made              by the members of the Council.

    22. The results of the activities of the Council are regularly covered in the media.

    23. To finance the activities of expert working groups, the Council has the rights to attract extrabudgetary funds, grant assistance from donors and international organizations.

    24. The working body of the Council is the Secretariat of the Council.

    25. The structure and staff schedule of the Council Secretariat is approved by the Secretary in coordination with the First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, supervising the issues of               economy and finance.

    26. The activities of the Council Secretariat are financed by the international development partners on a grant basis.

    27. The staff of the Secretariat of the Council shall be elected on a competitive basis in accordance with the procedures of the international development partner providing funding.      

    28. The implementation of the recommendations and proposals of the Council shall be monitored by the Secretariat of the Council.

    29. The Council has its own letterhead.

 6. Rights and Obligations of Council’s Members

 

    30. Council’s members have the right to:

• participate participate in the meetings of the Council, make proposals, comments and amendments on the substance of the issues discussed;
• participate in the preparation and implementation of the recommendations drawn up by the Council;
• receive and acquaint themselves with all information necessary for the performance of their duties as members of the Council;
• be present at meetings of the Council's expert working groups when matters within the Council's competence are discussed
• participate in the work of commissions and working groups of the Cabinet of Ministers of the Kyrgyz Republic, ministries, agencies and local authorities on issues under the competence of the Council
• freely express their opinion on any issue of the Council's activity
• to apply to the state and local authorities and request from them the information necessary for the work of the Council.

    31. Members of the Council are obliged to:

• personally participate in the work of the Council, its working body, the Council's expert working groups and activities within the framework of the Council's adopted work plans;
• participate in the meetings of the Council, not to be absent without a valid reason;
• provide other members of the Council with comprehensive information on the progress and results of their activities in accordance with the Council's work plans;
• contribute to the implementation of the Council's decisions and recommendations

 7. Main Functions of the Secretary and Working Body of the Council

 

    32. The Council Secretary performs the following functions:

• requests information necessary for the work of the Council from state bodies and local authorities;
• holds meetings to discuss certain issues of preparation for Council meetings;
• ensures the monitoring of the evaluation of the implementation of the adopted decisions of the Council;
• repares reports of the Council, informs the Chairman and members of the Council about the review of the Council's recommendations;
• summarizes proposals of state bodies, local authorities and representatives of the private sector on issues within the competence of the Council;
• participates in the preparation of the Meetings of the Council;
• directs the work the Secretariat of the Council.

    33. The Secretariat of the Council performs the following functions:

• provides information and analytical support and expert support for the Council's activities;
• provides practical assistance in the implementation of the ongoing reforms and mechanisms for the actual implementation of the Council's decisions;
• analyses the actual implementation of the Council's decisions and identifies gaps and problems affecting their implementation
• develops innovative ideas and makes proposals to improve the legislation in the areas under consideration by the Council
• ensures timely and qualitative preparation of recommendations and drafts of normative legal acts primarily provided for in the decisions of the Council as well as suggestions on improvement of the law enforcement practice in the respective areas and sectors
• on a permanent basis study relevant international experience on improvement of the investment climate and implementation of PPP projects with development of proposals on the acceptability of their implementation in the conditions of the Kyrgyz Republic;
• organizes and ensures the meetings of the Council at the level of relevant ministries and agencies at the suggestion of the Council members;
• organize and conduct seminars, specialized trainings, round tables, conferences, symposiums and other events on topical issues related to the implementation of the ongoing reforms within the Council's activity;
• performs other functions within the competence based on the tasks assigned to them by the Council members.

    34. The Secretariat of the Council in its activities interacts with structural units of the Administration of the President of the Kyrgyz Republic, the authorized state body in the field of economic development and business support, state bodies and local authorities.