News

In accordance with the adopted resolution, the Regulations on the Procedure for the Implementation of Labor Activities by Foreign Citizens and Stateless Persons within the Territory of the Kyrgyz Republic and the Regulations on the Procedure for Employment Activities of Citizens of the Kyrgyz Republic Abroad were approved.

The President of the Kyrgyz Republic, Sooronbay Jeenbekov, signed the Law of the Kyrgyz Republic “On introducing amendments to the Law of the Kyrgyz Republic “On Securities Market”. The law was adopted by Jogorku Kenesh of the Kyrgyz Republic on April 4, 2019.

Supply of goods, works and services intended for use in production from the territory of the Kyrgyz Republic by a subject that is not a subject of the free economic zones (FEZ) to the subject of the FEZ is subject to VAT at a rate of 0 percent. The law comes into force on January 1, 2019.

In order to further implement judicial and legal reform, the Resolution of the Government of the Kyrgyz Republic on the introduction of a temporary moratorium on amendments to the Criminal Code, the Code on Misconduct, the Code on Violations, the Criminal Procedure Code, the Criminal Penitentiary Code dated October 4, 2018 No. 457 was declared invalid.

On 21 May 2019, the European Bank for Reconstruction and Development and Optima Bank signed risk participation agreements in the aggregate amount up to USD 20 million. According to these agreements, EBRD will share the risks of up to 50 percent for some loans issued by Optima Bank. Borrowers under the agreements will also have the opportunity to use various technical cooperation programs to familiarise themselves with the best practices of international and local experts.

On May 17, 2019 the Partner of Bishkek office of GRATA International, Nurlan Kyshtobaev, participated in a
Business Forum “SCO: Expanding Borders of Cooperation” that was held in the State Residence “Ala-Archa”
in Bishkek under the chairmanship of the Kyrgyz Republic in the Shanghai Cooperation Organization.