The Deputy Chairman of the Cabinet of Ministers, Minister of Water Resources, Agriculture and the Processing Industry of the Kyrgyz Republic, Bakyt Torobaev on January 16th held a meeting of the governmental commission for the selection of national investment projects.
The meeting considered giving certain undertakings the status of “projects of national significance,” which, according to Torobaev, will help increase their attractiveness to investors. This will contribute to socioeconomic development, job creation, the development of industry and agriculture in regions where such projects are implemented, Torobaev stated.
The commission granted the status of “projects of national significance” to the construction of the Kambarata hydroelectric power plant-1, the Kazarman hydroelectric power plants cascade, and the Kemin-Torugart 500 kV power transmission line. With this status, companies interested in investing in these will be exempt from value added tax, sales tax, and income tax for a certain period. The Cabinet of Ministers expects that this step will help speed up the implementation of these strategic projects.
Construction of the Kambarata hydroelectric power plant-1 and the cascade of the Kazarman hydroelectric power plants are two flagship projects aimed at introducing new power generating capacities to help Kyrgyzstan overcome its chronic electricity shortages, which are especially acute in the winter months.
