Regulatory System of Kyrgyzstan

Written by Sandeep Nehra

Law “On Foreign Investments in the Kyrgyz Republic” (on March 27, 2003).

The law establishes the basic principles of public investment policies aimed at improving the investment climate in the country and stimulate the attraction of domestic and foreign investment by providing fair and equal legal treatment to investors and guarantees the protection of investments in the Kyrgyz economy, and regulates the relationship between investors and state bodies. The law was prepared taking into account the investment laws in force in the CIS. The main features of the new law by repealed Law on Foreign Investment in the Kyrgyz Republic are:

- The possibility of granting preferences (investors, investing in priority sectors of the economy and social sphere, as well as in certain territories of the Republic, in accordance with state program (project) development may provide investment incentives in accordance with the laws of the Kyrgyz Republic)

- The right to appeal an investor in international arbitration, bypassing the internal procedures

- Stability (constancy) of the legislation for 10 years. In the case of changes or additions to investment legislation of the Kyrgyz Republic, with the exception of the Kyrgyz Constitution, tax legislation and legislation of the Kyrgyz Republic relating to matters of national security, health and environmental protection, investors in the ten years from the date of such changes or additions have the right to choose the most favorable conditions for them

- Alignment of the conditions of domestic and foreign investors

- A clear definition of the term “investor” (foreign – domestic).

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