President of the Kyrgyz Republic, Sadyr Japarov, has initiated a draft Law of the Kyrgyz Republic "On Amendments to Certain Legislative Acts of the Kyrgyz Republic in the Field of Protecting the Rights of Entrepreneurs and Investors." The concept of the draft law aims to enhance the protection of entrepreneurs and investors engaged in economic activities in the Kyrgyz Republic.

The draft law proposes to introduce corresponding changes to the Criminal Code of the Kyrgyz Republic, the Code of Offenses of the Kyrgyz Republic, and the Criminal Procedure Code of the Kyrgyz Republic.

Key changes include:

• Adding a new article 338 (1) to the Criminal Code of the Kyrgyz Republic, which provides for liability for obstructing lawful entrepreneurial activities.
• Increasing the fine stipulated in Article 436 of the Code of Offenses of the Kyrgyz Republic from 100 to 150 calculation indices, in connection with the increased liability for obstructing lawful entrepreneurial activities.
• Implementing alternative preventive measures (electronic monitoring, bail, house arrest) for entrepreneurs, as provided by the Criminal Procedure Code of the Kyrgyz Republic, to protect entrepreneurs from unjustified pre-trial detention.

Previously, this issue was also considered by the expert working group on improving the legislation of the Kyrgyz Republic, which regulates the issues of attracting investments, including foreign ones, developing tourism, aviation, the licensing system, and eliminating excessive control functions of state bodies. The Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic is part of this expert group.

These changes are aimed at creating favorable conditions for businesses and investors, as well as improving the investment climate in the country. The Secretariat of the Investment Council continues to actively participate in the development and promotion of initiatives that contribute to economic development and the protection of the rights of entrepreneurs and investors in the Kyrgyz Republic.

Today, May 31, 2024, within the framework of the forum "Interaction of Business, Education, Science, and Government: Opportunities and Ways of Regional Development," a Memorandum of Cooperation and Understanding was signed between the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, the Plenipotentiary Representative of the President of the Kyrgyz Republic in Osh Region, and Osh State University.

The Memorandum aims to establish partnership relations and develop effective long-term cooperation aimed at improving the business environment and investment climate, implementing policies and applying public-private partnership mechanisms, and protecting the rights of investors and business entities.

The signing of the Memorandum is an important step towards strengthening the interaction between educational institutions, government bodies, and the private sector. It is aimed at promoting joint initiatives in the field of entrepreneurship, investments, research work, development of small and medium-sized businesses, as well as implementing ESG principles and digital transformation of the economy.

We express our gratitude to all participants for their active involvement and support, and we hope that this cooperation will bring significant results in developing the economic potential of the regions.

On May 31, Uluk Kydyrbaev, the Head of the Secretariat of the Investment Council under the Cabinet of Ministers of the Kyrgyz Republic, participated in a significant regional forum held at Osh State University. The event, themed "Interaction of Business, Education, Science, and Government Agencies: Opportunities and Development Paths for Regions," marked the 85th anniversary of Osh State University.

During the forum, Mr. Kydyrbaev delivered a compelling presentation during a panel session focused on "Integration of Business and University Research Potential in Ensuring Economic Environment Innovations and Modern Technologies." His presentation emphasized the importance of collaboration between businesses and universities, showcasing how such partnerships can drive innovation, enhance research capabilities, and contribute to the region's economic development. He highlighted successful case studies and potential benefits, such as improved access to cutting-edge technologies, enhanced workforce skills, and increased competitiveness.

The forum brought together diverse participants, including representatives from various government agencies, business associations, and academic institutions. Discussions revolved around strengthening public-private partnerships, advancing sustainable economic development, and exploring innovative solutions for regional growth.

The participation of the Investment Council's Secretariat in this forum underscores its commitment to supporting initiatives that drive economic progress and collaboration between different sectors in the Kyrgyz Republic.

On May 31, 2024, the Secretariat of the Investment Council of the Kyrgyz Republic participated in a significant financial forum in Bishkek, co-hosted by the Chengdu Municipal People’s Government, the Ministry of Economy and Commerce of the Kyrgyz Republic, and the Astana International Financial Centre (AIFC) Green Finance Centre. The event took place at the Sheraton Hotel, bringing together key stakeholders from the financial sectors of China, Kazakhstan, and the Kyrgyz Republic.

Chengdu, known for its robust economy and technological innovation, is a major financial hub in China. The city is famous for its thriving high-tech industry, financial services sector, and extensive infrastructure development. Chengdu's experience in fostering innovation and sustainable development offers valuable insights for the Kyrgyz Republic as it seeks to enhance its economic growth and investment landscape.

Agenda Highlights:

• Opening Remarks by Wang Fengchao, Mayor of Chengdu Municipal People’s Government, Choro Seyitov, First Deputy Minister of Economy and Commerce of the Kyrgyz Republic, and Daniyar Kelbetov, Chief Product Officer and Member of the Management Board of AIFC Authority.
• Report Launch by Aigul Kussaliyeva, Advisor of AIFC Green Finance Centre.

The forum aimed to discuss and promote green investment principles, strengthen regional financial cooperation, and explore new opportunities for sustainable development.

The discussions underscored the importance of green finance and sustainable investment practices in driving economic growth and development. Participants explored how Chengdu's economic model and innovative approaches could be adapted to the Kyrgyz context to enhance regional financial and investment ties.

The event concluded with a commitment to continue exploring collaborative opportunities and strengthening financial links to support sustainable regional development.