Former Investment Council to focus on attracting environmentally sustainable capital

The Cabinet of Ministers approved a resolution on 16 July amending the previously effective document ‘On the Investment Council’.

According to the new amendments, the former name ‘Investment Council’ has been replaced by ‘Business Development and Investment Council’.

The amendments affected both the name and the provisions governing the activities of this advisory body.

The council's tasks have been expanded. Its powers now include:

• facilitating the attraction of environmentally sustainable and green economy-oriented investments;
• holding consultations, forums, meetings, seminars and other events to discuss business issues and initiatives;
• launching an electronic platform for collecting suggestions and complaints from the business community;
• monitoring the implementation of investment projects with the right to make recommendations to state bodies;
• conducting analytical research on issues affecting business interests.

A number of procedural issues have also been clarified. The council now includes the head of the National Institute for Strategic Initiatives under the President of the Kyrgyz Republic and a representative of the National Academy of Sciences (by agreement). The procedure for agreeing the agenda of meetings with relevant state bodies in the field of economic development and entrepreneurship has been clarified.

The resolution shall enter into force 15 calendar days after its official publication.