Ministry of Economic Development and Trade

1
Ministry of Economic Development and Trade of
the Kyrgyz Republic
About the MEDTs Role in Improving Business
Environment
2
Key Problems Impeding Business Development

• Imperfect entrepreneurship-related legislation
• Problem with registration
• Imperfect system of licenses and permits
• Numerous inspections by state controlling
  agencies
• Tax burden

3
Reforms in the construction sector

• Resolution of the Government of the Kyrgyz
  Republic ? 252 dated May 30, 2008 On Approval of
  the Procedure for Issuance of Permissive
  Documents for Designing, Construction and Other
  Changes in Real Estate Objects and the Procedure
  for Commissioning Completed Construction Objects
  in the Kyrgyz Republic
• 2. Law of the KR On Introducing Amendments and
  Addenda to the KR Law On City Planning and
  Architecture of the Kyrgyz Republic

4
Reforms in the area of information sharing,
protection of minority shareholders and control
of related party transactions
Law of the KR On Introducing Amendments and
Addenda to the KR Law On Joint Stock Companies
Concerned person
Related party transaction
Court
Related party transaction
Damage to JSC
5
Reforms in the area of information sharing,
protection of minority shareholders and control
of related party transactions
Law of the Kyrgyz Republic On Introducing
Amendments to the Civil Code of the KR
6
The KR Law on Introducing Amendments and Addenda
to the KR Law On State Registration of a Legal
Entity, a Branch and a Representative Office of a
Legal Entity
Business Start-Up Reforms
7
RLA Adoption Flow Chart
Regulatory and Legal Act
RIA Methodology
beneficial
non-beneficial
Economic appropriateness
Adoption
Abolishment
8
Guillotine Principle
9
Draft Resolution of the Government of the Kyrgyz
Republic On the Interdepartmental Commission on
Regulatory Reform
10
Resolution of the KR Government On the Procedure
for Conducting Inspections of Subjects of
Entrepreneurship and Identifying the List of
Authorized Bodies Having the Right to Conduct
Inspections of Subjects of Entrepreneurship as
of 6.11.07, ?533

• Contains the following norms
• The Procedure for conducting inspections
• The Procedure for coordination of the inspection
  plan
• Prohibits to conduct overlapping inspections on
  the same issue by different controlling entities

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To implement the KR Law On the Procedure for
Conducting Inspections of Subjects of
Entrepreneurship, the BELL Program has been
developed
12
Next steps and perspective directions for
development of the KR legislation
I. Continue with the reforms to improve the legal
frameworks for development of entrepreneurial
activities in the Kyrgyz Republic

• Adoption of a new version of the Tax Code
• Continuing reforms for reducing bureaucratic
  barriers when obtaining permissive documents for
  construction
• Reduction of procedures for liquidation of
  enterprises
• Simplification of procedures to acquire the
  rights to real estate objects
• Revision and improvement of the legal
  frameworks through regulatory analysis of
  regulatory and legal acts in the sphere of
  entreprenruship

II. Work on improving the Competitiveness Index
of the World Economic Forum (Davos, Switzerland)
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Thank you for your attention!