NOTICE on the development of a draft regulatory legal act of the Kyrgyz Republic

The National Investment Agency under the President of the Kyrgyz Republic (hereinafter - the National Agency) hereby informs about the beginning of discussions on legal regulation and the collection of proposals from interested parties for the development of the draft Law of the Kyrgyz Republic "On Concessions". 1. Description of the problems that the proposed regulation aims to address: Currently, the Kyrgyz Republic is actively promoting concession projects as an important element of the country's investment strategy. As part of the set tasks, a review of the existing regulation of concession agreements is being conducted to enhance investment attractiveness, ensure flexibility of the concession mechanism, and align it with modern international realities. An analysis of the current concession legislation has revealed a number of problems hindering the effective development of this area: The Law of the Kyrgyz Republic "On Concessions and Foreign Concession Enterprises in the Kyrgyz Republic" was adopted on March 6, 1992 (No. 850-XII), that is, 33 years ago. This Law of the KR does not take into account modern approaches to concession regulation, international standards, and changed economic conditions. Issues related to concession objects (land, subsoil, property, activities of foreign enterprises) are partially regulated by various regulatory acts, including the Civil Code of the Kyrgyz Republic, the Law of the Kyrgyz Republic "On Investments in the Kyrgyz Republic", the Law of the Kyrgyz Republic.