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Kyrgyzstan|business|November 21, 2014 / 04:25 PM
Regulatory reform project launched in Kyrgyzstan to enhance business climate

AKIPRESS.COM - OSCE_sign The OSCE Centre in Bishkek, in co-operation with the Economy Ministry of Kyrgyzstan launched yesterday the Systematic Regulatory Review project with the aim of assisting the country’s government in conducting regulatory reforms, governing private economic activity and combating corruption.

As part of the project, the international company, Jacobs, Cordova & Associates, will provide technical assistance and conduct a regulatory review of all legal and normative acts regulating the business sector.

The project follows a Memorandum of Understanding between the Economy Ministry of Kyrgyzstan and the OSCE Centre in Bishkek signed in March 2014 on implementing the regulatory reform project. The agreement aims at implementing projects to reduce the administrative and regulatory burden imposed by the State on private economic activity through the “guillotine principle.”

Kyrgyzstan currently has more than 15,000 normative acts – laws and regulations – in force that regulate business activity. Many of these acts are contradictory or are more historic in nature, and are not consistent with existing laws and regulations. They are considered to be the major obstacle to business development and foreign investments.

“In recent years Kyrgyzstan is undertaking considerable reforms aimed at creating conditions for business and attracting investment. Particularly, we are improving legislation that regulates the private sector,” said Temir Sariev, Kyrgyz Minister of Economy. “Abolishing corruption in public administration and reducing the government’s intervention in business activities is our priority and we hope this project will contribute to that.”

Ambassador Sergey Kapinos, the Head of the OSCE Centre in Bishkek said: “I believe that the rapid development of the economy requires laws regulating private economic activity that are straight-forward and understandable, and not contradicting each other. Simplifying laws and regulations reduces opportunities for corruption. This joint project is designed primarily to create a stimulating, favorable business environment, based on pre-existing initiatives undertaken by the Government of Kyrgyzstan to streamline legislation regulating the business sector.”

The project’s foresees the creation of a Regulatory Reform Council that will work under the Government, chaired by the Prime Minister. The Council will oversee, review and pre-approve the recommendations for proposed legislation reform. . Public authorities and business representatives will take an active part in implementing the project.

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