President of Kyrgyzstan Sadyr Japarov signed a law introducing amendments to legislation on investments and arbitration courts.
The document clarifies procedures for protecting investors and resolving investment disputes. In particular, it stipulates that disputes should first be settled through negotiations and, with the consent of the parties, through mediation or other pre-trial mechanisms.
If a conflict cannot be resolved, it may be considered in the courts of Kyrgyzstan or referred to arbitration in accordance with relevant agreements or international treaties.
The law also strengthens guarantees for the protection of investors’ property. Confiscation of property is now possible only by court order and only in cases stipulated by criminal law.
In addition, the requirement for notarization in one of the provisions has been abolished, and it is established that foreign investors may undergo accreditation on a voluntary basis.
A separate provision repeals one of the articles of the law on arbitration courts.
The law will enter into force in ten days after its official publication.
