Protocol of the Investment Council meeting at the Prime Minister's Office

of the Kyrgyz Republic on July 3, 2024 (download PDF file in Kyrgyz and Russian)

The Secretariat of the Investment Council participated in a meeting dedicated to the potential accession of the Kyrgyz Republic to the "United Nations Convention on International Settlement Agreements Resulting from Mediation" ("Singapore Convention on Mediation"). The meeting was organized by the Ministry of Justice of the Kyrgyz Republic as part of a technical assistance project launched by the European Bank for Reconstruction and Development (EBRD) in collaboration with the International Development Law Organization (IDLO).

The Convention applies to international settlement agreements resulting from mediation and concluded by parties to resolve a commercial dispute, providing a harmonized framework for the enforcement and application of such agreements.

The Government of the Kyrgyz Republic supports mediation and promotes its development, including through accession to the Singapore Convention on Mediation. To support this important initiative, the EBRD and IDLO have launched a technical assistance project. The project's goals include supporting the process of signing and ratifying the Convention and assisting in the development of the necessary domestic legislation, raising public awareness, and achieving consensus to ensure the successful implementation of the Convention in the Kyrgyz Republic.

The Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic supports the initiative of the Ministry of Justice to establish legal frameworks for the fair and effective resolution of international investment disputes through mediation, as well as the legal conditions for the development and improvement of the investment climate in the Kyrgyz Republic.

REPORTAGE (in Kyrgyz)

According to the agenda, four issues were discussed at the recent Investment Council meeting. In particular, the results of the participation of the Kyrgyz delegation at the International Investment Energy Forum in Vienna (Republic of Austria) were reviewed, measures to increase investments in the Kyrgyz Republic and to enhance the export potential of the Kyrgyz Republic were considered, and information was heard on the results of the activities of the Public-Private Partnership Center at the National Investment Agency under the President of the Kyrgyz Republic for the first 5 months of 2024.

In addition, representatives of business associations and the private sector raised specific business-related issues. The International Business Council presented an analytical report on the state's involvement in the economy of the Kyrgyz Republic, which is available on the IBC website.

On July 3, 2024, the Investment Council held its regular meeting under the chairmanship of the Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov. The meeting was moderated by the Secretary of the Investment Council, Uluk Kydyrbaev.

In his opening remarks, the Head of the Cabinet of Ministers informed the Council members about the preparations for launching two key strategic projects: the construction of the Kambarata HPP-1 and the China-Kyrgyzstan-Uzbekistan railway. The Secretary of the Investment Council presented a brief overview of the Secretariat's activities for the second quarter.

Representatives of the government, the business community, and international organizations attended the meeting. The main focus was on discussing key issues related to improving the investment climate, increasing export potential, and developing public-private partnerships in the country.

Key Topics of the Meeting:

• Results of Participation in the International Investment Energy Forum in Vienna: The Minister of Energy of the Kyrgyz Republic, Taalaibek Ibraev, presented a report on the outcomes of the Kyrgyz delegation's trip to the forum.
• Increasing Export Potential: The Director of the Center for Export Development and Promotion "Kyrgyz Export," Urmat Takirov, presented the concept of the National Export Program for 2024-2027.
• Attracting Investments: The Deputy Director of the National Investment Agency under the President of the Kyrgyz Republic, Zhalyn Zheenaliev, presented the agency's report for 2023. The Deputy Minister of Foreign Affairs of the Kyrgyz Republic, Avazbek Atakhanov, presented a report on the ministry's work in attracting investments.
• Activities of the PPP Center: The Deputy Director of the PPP Center under the NIA of the Kyrgyz Republic, Ulan Danilbekov, presented the Center's results for the first five months of 2024.

Some participants also presented proposals. For instance, Rustam Baltaev, the Executive Director of the Agricultural Development Association, raised issues regarding the subsidization of international certifications and transportation costs, cross-border factoring, and access to finance.

At the end of the meeting, the Head of the Cabinet of Ministers issued relevant directives aimed at implementing the discussed initiatives. The meeting reaffirmed the importance of constructive dialogue between the government and the business community to ensure sustainable economic growth and development in the Kyrgyz Republic.