Aza Migranyan, Doctor of Economics, Professor, Head of the Economics Department of the Institute of CIS Countries, answered the question: What Kyrgyzstan needs to do to restore its investment attractiveness after the October 2020 events?
According to the expert, the first thing that Kyrgyzstan should abandon is the idea of nationalization of enterprises. Instead, the professor advises the government of the republic "to start implementing programs of creation."
It is necessary to form a package of proposals for projects that may be of interest to investors. Interesting not from the point of view of the needs of Kyrgyzstan, but from the point of view of capital investment and profits.Aza Migranyan
"These are the payback periods and profitability of projects. At the same time, one way or another, the country should be included in the system of industrial cooperation because trade relations alone will not help solve this problem,” Aza Migranyan said.
The third recommendation is "an announcement for foreign investors, who have a valid agreement, that they can continue to work in the country and the government guarantees them full preferential treatment, or at least most favored nation treatment."
"It may be worth announcing that entrepreneurs, regardless of their country of origin, who have suffered losses, can count on compensation. Maybe in the form of »tax holidays,” Aza Migranyan says.
The fourth expert’s advice is »expansion of cooperation of Kyrgyzstan with key partners, primarily in the EAEU”.
"These should be not just statements, but ready-made proposals, projects and programs. Such steps will allow the new leaders of Kyrgyzstan to strengthen its image and win the trust of external observers, ”Aza Migranyan said.