Kyrgyzstan to continue taking measures to support domestic business.

By Azernews

By Kamila Aliyeva

An international conference entitled ‘Prospects of the development of arbitration institutions in Central Asia’, organized by the Chamber of Commerce and Industry of the Republic, was held in Bishkek on November 30.

The event was timed to coincide with the 15th anniversary of the International Court of Arbitration in affiliation with the Chamber of Commerce and Industry of Kyrgyzstan, Kabar reported.

The conference was attended by representatives of state bodies of the country, business and international organizations.

Addressing the event, Kyrgyz Vice Prime Minister Daiyr Kenekeev noted that the government will continue to take all necessary measures aimed at supporting and stimulating domestic business.

“Recently, the fourth meeting of the National Council for Sustainable Development that considered the draft of the Country Development Strategy until 2040, the main priority of which is to create the most favorable conditions for doing business in Kyrgyzstan,” he said.

The minister noted that the government is currently implementing the mid-term program “Jany Doordo - Kyrk Kadam,” in which the two main areas are related to the support and development of business in the country.

“The first direction is the national program ‘Taza Coom’, which provides for reducing bureaucratic barriers in the provision of public services by digitizing relations between the state and business. This measure will also reduce corruption risks. The second direction is called ‘Together with business’, which will be focused on creating favorable conditions for both beginners and active entrepreneurs,” he said.

The official also stressed the role of arbitration institutions, such as the International Arbitration Court at the Chamber of Commerce and Industry of Kyrgyzstan, in creating favorable conditions for business by resolving disputes in civil legal relations.

“Since its foundation, the International Arbitration Court has considered over 800 economic disputes, the total amount of claims of which amounted to over $77 million,” Kenekeev said.

A permanent International Arbitration Court at the Chamber of Commerce and Industry of the Kyrgyz Republic is the leading arbitration institution in the country, which ensures the prompt and qualitative resolution of economic disputes by independent professional arbitrators.

The conference is expected to end with signing of memorandum on cooperation with arbitration institutions.