A special investment territory with a special legal regime is being created in Issyk-Kul region of Kyrgyzstan. The corresponding decree was signed by the President. The document was published on Toktom portal.
It was adopted in order to improve the investment climate in the Kyrgyz Republic, to ensure guarantees for the protection of the rights and legitimate interests of investors, including foreign investors operating in the country.
«By decree of the President of the Kyrgyz Republic dated March 17, 2025 UP No. 92, it was recognized as necessary to create a special investment territory with a special legal regime and an independent international center for dispute resolution in Issyk-Kul region using the norms and principles of the English legal system, as well as other jurisdictions of the common law system,» the document says.
The Cabinet of Ministers has been instructed to immediately begin implementation of the decree, including developing and adopting relevant draft regulatory legal acts to introduce corresponding amendments to national legislation to ensure the creation of a special investment zone with a special legal regime.
It has also been ordered to form an interdepartmental expert working group under the Cabinet of Ministers to coordinate the activities of state bodies and local governments on issues of implementing the tasks.
It has the following functions:
- General management and coordination of activities to implement the decree;
- Developing, reviewing and approving draft regulatory legal acts developed to implement the decree, taking into account the recommendations of experts and consultants, and submitting them to the Cabinet for consideration;
- Making recommendations on determining the boundaries and preparing the necessary infrastructure for the placement of a special investment zone with a special legal regime;
- Making proposals to determine the categories of disputes that can be referred to the jurisdiction of an independent international dispute resolution center (using the norms and principles of the English legal system, as well as other jurisdictions of the common law system);
- Engaging international consultants and experts in the work;
- Development of other organizational measures.
The Cabinet of Ministers of the Kyrgyz Republic was instructed to:
— Immediately begin implementing this decree, including the development and adoption of relevant draft regulatory legal acts to introduce relevant changes to national legislation to ensure the creation of a special investment zone with a special legal regime;
—If necessary, engage international consultants and experts specializing in arbitration procedures using English law, as well as other common law jurisdictions.
