The International Business Council calls on the government of
The organization reminded the words of Almazbek Atambayev that
The IBC stressed that the arbitration proceedings does not contribute to improving the investment attractiveness of our country. As of today, there are a number of suits at the international arbitration courts against
Centerra Gold Inc. is one of the largest investors and taxpayers in our country. In 2016, the company’s payments in the territory of the Kyrgyz Republic exceeded $ 238.45 million.
«Taking into account the importance of this investment project for the country, the IBC offers the government of
However, according to the agreement between the Cabinet of Ministers of Kyrgyzstan and Centerra dated 2009, all claims for compensation of environmental damage in relation to Kumtor Operating Company, which took place before 2009, have already been settled by the amount of $22.4 million.
«We urge both sides to reach a compromise solution. This is necessary both for Centerra and for the government. State policy in the mining sector should be aimed at maintaining the balance of interests of the state and the investor," the statement says.