OREANDA-NEWS. On July 28, 2009 President of the Kyrgyz Republic Kurmanbek Bakiev informed about the establishment of a new agency in his Address to the nation, reported the press-centre of IBC. 

Government reform will create a permanent dialogue platform, the main goal of which is to coordinate positions and formulate a reasonable balance of interests of society, government and business, said the President.

“Therefore, the National Agency for Investment and Innovation will be created this autumn,” said President.  The Agency should contribute to a sharp increase in foreign investment in the development and modernization of the technological complex of Kyrgyzstan.

The agency itself can only help to increase investment, but it is not a decisive factor for potential investors, said President Bakiev.

The decisive factor is the investment climate as the integral indicators of the sustainability of the economy and the predictability of political situation in the country, security of property rights and freedom of business, the level of corruption and tax pressures on business. The Agency should develop proposals for improvements at each of these areas, and as a result generally improve the investment environment in the country.

“The Agency should convey information about our benefits to foreign investors and obtain that big business could come to Kyrgyzstan,” President said.