The Chairman of the Cabinet of Ministers of Kyrgyzstan Adylbek Kasymaliev held a meeting with the Ambassador of the United Kingdom of Great Britain and Northern Ireland Nicholas Bowler, as well as with international consultants on the use of English law in the settlement of investment disputes. The press service of the Cabinet of Ministers reported.
During the meeting, the parties discussed a wide range of issues aimed at developing the investment attractiveness of the Kyrgyz Republic and increasing the level of protection of investors’ rights, which is a key factor in attracting foreign investment and sustainable economic growth.
In addition, an initiative to create a special investment territory (SIT) with a special legal regime was discussed, which will create more favorable conditions for doing business and implementing investment projects.
«Creating a favorable investment climate and reliable protection of investors’ rights are priority tasks for Kyrgyzstan. We are interested in studying and applying international experience, including English law, to increase investor confidence in our legal system,» Adylbek Kasymaliev said.
In turn, Nicholas Bowler noted that «the UK is ready to share its experience and expertise in the field of law to promote the development of the Kyrgyz economy and attract investment.» It was noted that the process of determining the format of financing of the consulting and methodological support necessary for the successful implementation of these projects is currently being completed.
The parties exchanged views on other pressing issues of bilateral cooperation, discussed possible forms of interaction and prospects for attracting investment in various sectors of the economy of the Kyrgyz Republic.
It is expected that the application of English law in the settlement of investment disputes can increase investor confidence in the legal system of Kyrgyzstan, ensuring predictability and protection of their investments.
English common law is a precedent-based legal system that originated in England. It is based on a judicial precedent — a court decision that becomes mandatory for application in similar cases in the future. It is the basis of the legal systems of many countries around the world, including the USA, Canada, Australia and others.
