1. About the MEDT’s Role in Improving Business Environment
Ministry of Economic Development and Trade
of the Kyrgyz Republic
About the MEDT’s Role in Improving Business Environment

2. Key Problems Impeding Business Development
Imperfect entrepreneurship-related legislation
Problem with registration
Imperfect system of licenses and permits
Numerous inspections by state controlling agencies
Tax burden

3. Reforms in the construction sector
Resolution of the Government of the Kyrgyz Republic № 252 dated May 30, 2008 “On Approval of the Procedure for Issuance of Permissive Documents for Designing, Construction and Other Changes in Real Estate Objects and the Procedure for Commissioning Completed Construction Objects in the Kyrgyz Republic”
2. Law of the KR “On Introducing Amendments and Addenda to the KR Law “On City Planning and Architecture of the Kyrgyz Republic”

4. Reforms in the area of information sharing, protection of minority shareholders and control of related party transactions
Law of the KR “On Introducing Amendments and Addenda to the KR Law “On Joint Stock Companies”
Concerned person
Plaintiff (shareholder)
Court
Chairman of the Management Board/ Board of Directors
Recognizing the transaction to be invalid
Public and/or shareholders
Disclosure of information on the deal
Published statements
Concerned person
Related party transaction
Board of Directors
Plaintiff (shareholder)
Direct / indirect claim
Court
Related party transaction
Damage to JSC

5. Reforms in the area of information sharing, protection of minority shareholders and control of related party transactions
Law of the Kyrgyz Republic
“On Introducing Amendments to the Civil Code of the KR”
Credit history:
more than 2-year period
Data on:
Individuals
Legal entities
Data:
Positive
Negative
Data on credit:
1% of income
Credit information from:
1. Retailers
2. Trade creditors
3. Providers of utility services
4. Financial institutions
CIB
(Credit Information Bureau)
The borrower can check his data in the CIB register
Laws of the KR

6. Business Start-Up Reforms
The KR Law on Introducing Amendments and Addenda to the KR Law “On State Registration of a Legal Entity, a Branch and a Representative Office of a Legal Entity” $
Placing
a deposit
in a bank
Notarization of
constituent
documents
Verification of
the legal entity’s
location .
Registration with
the Ministry of
Justice
the Tax Office
Receiving
a permit for the seal and ,
the stamp
the Social Fund
Opening a bank account

7. RLA Adoption Flow Chart
Regulatory and Legal Act
RIA Methodology
beneficial
Economic appropriateness
non-beneficial
Adoption
Abolishment

8. “Guillotine” Principle

9. Ministries and agencies Working groups
Draft Resolution of the Government of the Kyrgyz Republic “On the Interdepartmental Commission on Regulatory Reform”
Government of the Kyrgyz Republic
Interdepartmental Commission on Regulatory Reform
Ministry of Economic Development and Trade of the KR
Experts’ Working Group
Ministries and agencies
Working groups
RIA

10. Contains the following norms: The Procedure for conducting inspections
Resolution of the KR Government “On the Procedure for Conducting Inspections of Subjects of Entrepreneurship and Identifying the List of Authorized Bodies Having the Right to Conduct Inspections of Subjects of Entrepreneurship” as of , №533
Contains the following norms:
The Procedure for conducting inspections
The Procedure for coordination of the inspection plan
Prohibits to conduct overlapping inspections on the same issue by different controlling entities

11. To implement the KR Law “On the Procedure for Conducting Inspections of Subjects of Entrepreneurship, the BELL Program has been developed
inspection
Entrepreneur
State Controlling Body (AB)
ring
Public Relations Office of the MEDT
Mobile team «BELL»
Explanation of the Law on Inspections
Identification of violations
Reporting in mass media
Taking actions
Consists of:
MEDT
Mass media
Business associations
visit
Establishing legality of the inspection NO
YES

12. Next steps and perspective directions for development of the KR legislation
I. Continue with the reforms to improve the legal frameworks for development of entrepreneurial activities in the Kyrgyz Republic
Adoption of a new version of the Tax Code
Continuing reforms for reducing bureaucratic barriers when obtaining permissive documents for construction
Reduction of procedures for liquidation of enterprises
Simplification of procedures to acquire the rights to real estate objects
Revision and improvement of the legal frameworks through regulatory analysis of regulatory and legal acts in the sphere of entreprenruship
II. Work on improving the Competitiveness Index of the World Economic Forum (Davos, Switzerland)

13. Thank you for your attention!