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KYRGYZSTAN improves the conditions for doing business

posted onJune 24, 2017
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At a regular meeting of the Council for Business and Investment Development of Kyrgystan held on 23 June, a number of decisions aimed at improving the conditions for doing business in the country were adopted, inlucluding a project on extentension of the stay of foreigners in Kyrgyzstan up to 15 days Akipress reported.

According to a statement released by the Government of Kyrgyzstan, at the meeting, representatives of business associations and state leaders discussed the improvement and liberalization of procedures in the field of external migration, the access of telecom operators to the retail financial services market, the creation of an IT education cluster and a step-by-step plan for civil aviation development through the liberalization of the air transportation market.

Prime Minister of Kyrgyzstan Sooronbay Jeenbekov noted that in the first five months of 2017, GDP growth was 6.8% compared to the same period in 2016 and stressed that there is a steady growth in exports. Based on recent results, growth in exports reached 30.4% in the first four months of the year. The Head of the government also noted that the IT is one of the most promising growth sectors of the country.

According to the Kyrgyz Prime Minister, the proposal to introduce a simplified procedure for obtaining work permits for highly skilled foreign workforce is important for the country's economy.The measure will increase the investment attractiveness of the country and simplify the business environment for many foreign investors.

Finally, the main objective of both regional and national Councils for business development and investment is to discuss the problems businesses are experiencing in order to find solutions, and the work of state bodies should be the creation of the most attractive conditions for entrepreneurs.

Kyrgyzstan at a glance
Population:
  6.0 million (2016)
GDP, current US$:  6.6 billion (2016)
GDP per capita, current US$: 1,073 (2016)
Inflation: 0.4% (2016)
                                                                                                                                                                    Source: World Bank