Ala-Too Resort state enterprise has been transformed into a joint-stock company with a 100 percent state stake. The corresponding resolution was adopted by the Cabinet of Ministers of Kyrgyzstan.
The document approves the reorganization of Ala-Too Resort state enterprise under the Presidential Affairs Department into an open joint-stock company with a 100 percent state stake. This decision was made to expedite the implementation of Mountain Cluster of All-Season Ala-Too Resort project.
The newly formed joint-stock company will be the legal successor and will retain state ownership.
The Ministry of Economy and Commerce has been instructed to re-register the enterprise, approve the charter and acceptance certificate, register the share issue, and include the project in the 2023-2025 privatization program.
The State Property Management Agency, together with the Ministry of Economy, will conduct an asset valuation to form the authorized capital and ensure the company’s location in Bishkek.
Ala-Too Resort is an ambitious state-run project to create the largest ski resort cluster in Central Asia. It encompasses three main zones: Jyrgalan, Ak Bulak, and Boz Uchuk in Issyk-Kul region. The total length of ski tracks will be approximately 250 kilometers, and the resort will welcome up to 2 million tourists annually and create over 4,600 jobs. In the first phase, in Jyrgalan, 1,624 hectares of land have been prepared for resort infrastructure, including tracks, cable cars, a substation, and utility networks.
