Kyrgyzstan’s achievements in 2018-2019

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Over the past year and a half, the Kyrgyz Republic has shown significant results in the areas of protecting and developing business, as well as attracting investments.

This is evidenced by the introduction of the Institute of Business Ombudsman, as an authorized person to protect the rights, freedoms and legitimate interests of business entities.

The Center for Project Financing for Regional Development OJSC has been established to finance business projects in the regions.

A visa-free regime has been introduced for citizens of 52 countries.

A “Project Preparation Fund” was created for the amount of about 400 thousand US dollars, the main purpose of which is to support and strengthen the potential of entrepreneurs of the republic to finance development projects, especially from the country's regions.

The public institution “Center for Public-Private Partnership” has been created. The center was created in order to support and accelerate the development of infrastructure projects of national and municipal importance and to improve the quality of public administration services for the development of infrastructure.

An agreement was reached with the People's Republic of China on grant support for the implementation of projects to provide the population of the Kyrgyz Republic with drinking water, the implementation of irrigation projects and the construction of roads in the amount of about USD 280 million (2 billion yuan).

An electronic system for paying insurance premiums to individual entrepreneurs has been introduced.

Newly created industrial enterprises in preferential cities and villages are exempted from four types of taxes for 5 years with the right of subsequent extension - taxes on profits, sales, land tax and property.

The amount of VAT has been reduced by 80% for food and processing enterprises that process domestic agricultural raw materials.

Profit tax exemption has been granted for machine and tractor stations, agricultural trade and logistics centers and agricultural cooperatives.

Enterprises importing technological equipment are exempted from customs duties.

The functions of the Social Fund of the Kyrgyz Republic in administering insurance contributions for state social insurance have been transferred to the State Tax Service under the Government of the Kyrgyz Republic.

The subjects of the Free Economic Zone are given preferences for the payment of VAT.

In the regions, Councils for business development and investment have been created.

Kabar News Agency


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