The National Investment Agency has discussed the draft law ‘On Venture Capital Financing’

On 24 October 2024, the Deputy Director of the National Agency for Investment (NAI) under the President of the Kyrgyz Republic Jalyn Zhenaliev met with USAID FGI Regional Director Anton Zinoviev. The main topic of discussion was key aspects of the draft law of the Kyrgyz Republic ‘On Venture Capital Financing’.

At the meeting, the participants reviewed the mechanisms for attracting investments, tax incentives, and guarantees of investors' rights and intellectual property protection methods. Particular attention was paid to the importance of a balanced approach that would ensure both attractiveness for investors and protection of their rights. The need to create transparent and efficient procedures to stimulate the growth of venture capital business was also emphasised.

NAI Deputy Director Jalyn Zhenaliev noted that the draft law is already under consideration by the Presidential Administration of the Kyrgyz Republic and emphasised its importance for stimulating innovation and economic development.

‘The law will create a legal basis for attracting investment in promising projects, and will support the development of startups and innovative companies in Kyrgyzstan,’ Zheanaliev noted.

Anton Zinoviev expressed confidence in the soon completion of the law and emphasised its importance for strengthening the innovation economy of Kyrgyzstan.