• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10784 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10784 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10784 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10784 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10784 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10784 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10784 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10784 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%

Our People > Lidia Savina

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Articles

Kyrgyzstan: Corruption hinders mining development, investment attraction

BISHKEK (TCA) — Protection of natural resources and using them wisely is among the priorities in ensuring the national security of Kyrgyzstan. However, corruption in issuing licenses hampers the mining industry development and the attraction of investments in this sector, Kyrgyz President Sooronbai Jeenbekov said on January 30 at a meeting of the Security Council to address problems in the subsoil use. Continue reading

7 years ago

Kyrgyzstan: Deterring corruption could improve governance in energy sector

BISHKEK (TCA) — Kyrgyzstan’s energy management system is inefficient and bureaucratic, experts say. The National Energy Holding has been operating for three years but no significant changes have been in the sector so far. Ineffective management A lot of criticism has been expressed regarding the management of the energy sector and the effectiveness of the National Energy Holding Company OJSC, Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziyev said at the Government meeting to discuss reforms in the energy sector. There is no significant progress in solving the problems related to the maintenance of the previously received credit funds, commissioning of new generating capacities, renewal of fixed assets of energy companies, as well as drafting strategic documents for the sector’s development, Abylgaziyev added. Commissioning of new production facilities requires significant energy capacity. “We should restore the citizens' confidence in the energy sector and ensure openness and transparency of the industry, eliminating corruption risks. This will be possible with the introduction of new automated systems according to uniform high-quality standards,” Abylgaziyev said. Kyrgyzstan now purchases most of the components for the energy sector abroad. To develop the domestic economy and create new jobs, the Prime Minister suggested producing "smart meters", cables, transformers and other equipment within the country. Kyrgyz President Sooronbai Jeenbekov criticized the National Energy Holding at the Security Council’s meeting in December. “Losses have not been reduced, and there is no progress in the sector,” he said. Kyrgyzstan improved its Doing Business rating from the 77th place to the 70th, but the country has been at 160th place among 190 countries in terms of the connecting electricity index over the last three years. Background In December 2015, the Ministry of Industry and Energy drafted a law on establishment of the National Energy Holding which should not be accountable to the Parliament and Government, and the Audit Chamber was not entitled to check this company. The Parliament did not support the bill. In January 2016, the National Energy Holding Company was established by the Government Resolution as part of the reform of the energy sector to reduce losses by introduction of automated electricity metering system. The current Energy Holding Chairman, Azamat Abdykadyrov, has repeatedly stated that the holding is a private company. The law “On the National Energy Holding” has not been drafted so far. The MPs rejected the first bill, and no one created a new one. It turns out that the holding is working illegally. Holding’s maintenance The holding exists due to payments of power companies — at the expense of their profits. Since many energy enterprises are unprofitable, payments for the Energy Holding’s maintenance were made at the expense of the state budget. The Parliament members have repeatedly raised the issue of the Energy Holding. In fact, the state assets were transferred to a private company, they said. In the end, the costs of this holding are included in the electricity tariffs. To finance the Energy Holding, distribution companies paid a certain amount to the holding each year. In...

7 years ago

Eurasian Economic Union countries could benefit through business integration

BISHKEK (TCA) — Success of the Eurasian Economic Union (EEU) in achieving its ambitious goals will depend on business. To this end, it is necessary to strengthen the relationship between government agencies, the Eurasian Economic Commission (EEC) and the business community, Kyrgyz Deputy Prime Minister Jenish Razakov said at the Business Eurasia economic forum, held on January 24 in Bishkek. Continue reading

7 years ago

To attract foreign investment, Central Asia countries introduce open skies policy

BISHKEK (TCA) — Next week, Kyrgyzstan will declare a unilateral open skies policy and the fifth air freedom in the country. Continue reading

7 years ago

Kyrgyzstan: Business Ombudsman to protect the rights of entrepreneurs

BISHKEK (TCA) — 2019 began with good news for Kyrgyzstan’s business community. Kyrgyz Prime Minister Muhammedkaly Abylgaziyev has signed a Government Resolution on the establishment of a Business Ombudsman to protect the rights, freedoms and legitimate interests of entrepreneurs. Continue reading

7 years ago

Eurasian Economic Union: achievements, problems and forecasts

BISHKEK (TCA) — 2018 was difficult for the Eurasian Economic Union (EEU). Some analysts say that this union is in crisis since certain conflicts have arisen between the former Soviet republics. Nevertheless, there were positive results. Continue reading

7 years ago

Kyrgyzstan in 2018: Growing GDP and debt, decreasing investments

BISHKEK (TCA) — Favorable conditions for business have been created in Kyrgyzstan, President Sooronbai Jeenbekov said at a news conference on the 2018 results. Continue reading

7 years ago

Kyrgyzstan: Judicial reform aims to restore public confidence

BISHKEK (TCA) — In order to seize the property of foreign citizens and investors in Kyrgyzstan, some judges make illegal decisions in the interests of organized criminal groups. Such phenomena decrease the investment attractiveness of the state, block foreign investment and cause great damage to the country’s economy, Kyrgyz President Sooronbai Jeenbekov said at a meeting of the Judicial Reform Council on December 27. The Council discussed the implementation of the President’s decree on measures taken as part of the ongoing judicial reform and new bills in this area. From January 1, 2019, five new codes and two laws will come into force in Kyrgyzstan. The new codes provide for the introduction of new institutions such as the Unified Register, the investigating judge, the digitization of the investigative offices and courtrooms, and probation. Successful judicial and legal reform will directly depend on the work of these institutions. “People’s confidence in the judiciary will be restored,” the President said. He explained the peculiarities of the current reform. Earlier, the judicial and legal reforms were carried out separately while they will be implemented together from 2019. It is impossible to consider them separately, Jeenbekov added. Old-fashioned thinking On the President’s initiative, an expert working group was established to monitor the activities of the judicial and legal reform in May. “According to the WG, this work is still hampered by our old-fashioned thinking. Law enforcement and supervisory authorities do not want to abandon the old repressive laws, and some government agencies lack the political will to carry out the reform,” the President said. The Government and Parliament are late in adopting certain very relevant laws. The reform’s preparatory stage has been completed, and the time has come to work in the new legal space from January 1, 2019, he added. The reform should change the population’s attitude to the authorities, including the judiciary. “Our people waited for this reform for a long time. The revolutions of 2005 and 2010 occurred due to the lack of such reforms and because of corruption and injustice,” Jeenbekov said. Minor crimes When the codes come into force, the courts and investigators will have much more work. Not very serious crimes have been removed from the Criminal Code and transferred to the Code of Misdemeanors. They are not considered crimes now. The new code does not provide for the imprisonment of those who have committed minor crimes, the President explained. “For instance, the Сode imposes fines and correctional works for those who had stolen a bicycle, TV set, or a chicken. Sentences for certain types of crimes will be reduced. The society should educate criminals, but not just punish them,” he said. There is no practice of applying the new laws in the country. Therefore, law enforcement, control and judicial authorities, together with the monitoring working group, should analyze the practice of applying new laws, travel to all regions of the country and hold meetings. Unfair decisions People often complaint about the work of judicial and law enforcement...

7 years ago

Kyrgyzstan: Commercial banks told to disclose information on customers

BISHKEK (TCA) — This week, the local media reported that the State Financial Intelligence Service (FIS) of Kyrgyzstan requested all commercial banks of the country to provide data on customers’ accounts and cells. On December 18, the 24.kg news agency posted a letter to commercial banks, dated December 10 and signed by FIS Chairman Gulamjan Anarbaev. The letter stated that in line with the law “On Counteracting the Financing of Terrorist Activities and Legalization (Laundering) of Criminal Proceeds”, all commercial banks should provide data on their customers’ accounts and cells. The deadline was December 17, but none of the banks has provided this information so far. The Union of Banks of Kyrgyzstan was the first one to respond. The head of the Union of Banks, Anvar Abdraev, told the media that, having discussed the situation, leaders and lawyers of the banks concluded that this requirement is contrary to the Constitution and legislation of Kyrgyzstan, and would negatively affects the image of the country's banking system and the transition to a system of cashless payments. The FIS actions are illegal and harmful to the investment attractiveness of Kyrgyzstan, the Union of Banks concluded. Officials’ opinion All information on bank cells and accounts of citizens is an integral part of bank secrecy and should be protected. It can be disclosed only by a court decision or with bank customers’ own consent, Chairman of the National Bank of Kyrgyzstan Tolkunbek Abdygulov told 24.kg news agency on December 20. Decrease in public confidence in the banking system may lead to an outflow of deposits from commercial banks, he added. Trust in the banking system has been forming for decades. The banking sector is quite sensitive and vulnerable to all sorts of information, Abdygulov said. Violation of banking secrecy can cause as much damage to the economy as corruption, the Economy Ministry stated on its website, commenting the FIS actions. Such requirements are already affecting the investment climate in the country and industries sensitive to changes in the financial sector, the ministry said. The disclosure of banking information should be carried out in accordance with the law, if there are relevant criminal cases and a court decision. If this measure is aimed at eradicating corruption among public servants, then amendments to the relevant laws should be made, the Economy Ministry stated. At the same time, Economy Minister Oleg Pankratov agreed to provide information about his bank accounts and cells for the entire period of his work in the public service. Lawyers see many risks In accordance with the law, the Financial Intelligence Service is charged with collecting and storing reports on suspicious financial transactions for money laundering, and the FIS has the right to request information and documents, including banking, commercial or other secrets, said the Adilet Legal Clinic headed by Cholpon Jakupova, a well-known lawyer, human rights activist and ex-MP. However, in this particular case, the FIS has clearly gone beyond its authority. First, according to Article 9 of the Law “On Counteracting the...

7 years ago

Central Asia: Who benefits from labor migration?

BISHKEK (TCA) — External labor migration in general is beneficial to Central Asia countries, because it contributes to the solution of many acute social and economic problems. Labor migration is beneficial both to host countries, such as Kazakhstan, and to Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan, the main suppliers of labor force. Continue reading

8 years ago