Kyrgyz govt amends legislation to step up protection for investors

BISHKEK. April 10 (Interfax) - Kyrgyz President Sadyr Japarov has signed to approve amendments to the law on investments, granting court authorities the exclusive right to take decisions on the confiscation of property from foreign and local investors, the president's press service reported.

The new regulations expand the mechanisms for resolving investment disputes in order to prioritize peaceful settlements. Parties are given the opportunity to resolve conflicts through direct negotiations or mediation. If a compromise cannot be found, the dispute can be reviewed by the courts in Kyrgyzstan or international arbitration.

The new bill introduces voluntary accreditation for foreign investors who are planning to work in Kyrgyzstan. This right replaces the procedures which were previously mandatory, thus making it easier for investors to enter the market and lowering the administrative burden for new projects.

The updated legislation lifts notarization requirements for a series of documents. This refers in particular to documents confirming the powers of a foreign investor's representatives as well as incorporation documents.