The Kyrgyzstan Tourism Development Support Fund has been transferred to the jurisdiction of the State Agency for Tourism

Changes have been made to the management structure of the Kyrgyzstan Tourism Development Support Fund. The State Agency for Tourism Development has replaced the Ministry of Economy and Commerce as the company’s sole shareholder.

According to the issuer’s disclosure, the changes took effect on June 11.

Prior to the transfer of shares, the Ministry of Economy and Commerce held 100% of the fund’s authorized capital, consisting of 988,019 common registered shares. The total value was 988.02 million KGS. Following the change, the ministry no longer holds any stake in the Fund.

The State Agency for Tourism Development became the new owner of all the fund’s shares, acquiring a 100% stake in the company.

The transfer of corporate rights effectively means that the Tourism Development Support Fund has come under the direct management of the relevant government agency responsible for the development of the tourism industry. This may indicate an attempt to strengthen the coordination of tourism projects and to concentrate the tools for supporting the industry under the authority of a specialized agency.