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Almambet Shykmamatov appointed head of Investment Promotion Agency

Ex-deputy of the Parliament of Kyrgyzstan Almambet Shykmamatov was appointed the head of the Agency for Promotion and Protection of Investments under the President. The order was signed by the Prime Minister Ulukbek Maripov.

This is a new agency. It was created on the initiative of parliament members.

The agency’s functions include:

  • Resolving of issues on raising investments to the country;
  • Support of investors in overcoming administrative obstacles;
  • Improvement of customs, tax and administrative legislation;
  • Development of tools to increase attractiveness of business projects of the Kyrgyz Republic for investing in the country.

The Agency for Promotion and Protection of Investments, established earlier under the Government, did not produce the expected results and was unable to take the necessary effective measures to improve the investment attractiveness of the republic. In this regard, it was decided to create a similar one, but under the President.

A similar structure was created in 2009 and was headed by Maxim, the son of the President Kurmanbek Bakiev, who was ousted as a result of the April 2010 coup d’etat.