In the new version of the resolution, it is stipulated that the OJSC "National Investment Fund of the Kyrgyz Republic" will become a co-founder of this company, replacing the direct participation of the Cabinet.
The capital of the company will remain in equal shares:
- 50% of the shares will belong to the National Investment Fund of the Kyrgyz Republic, and the remaining 50% will belong to the Abu Dhabi Development Fund.
The authorized capital is set at an equivalent of 5 million US dollars in the national currency at the exchange rate of the National Bank of the Kyrgyz Republic. It will be divided into 1000 ordinary registered shares with a nominal value of 5 thousand US dollars each.
It was previously reported that the Kyrgyz side will contribute 2.5 million US dollars as its share, while the Arab side will also allocate 2.5 million US dollars.
The Ministry of Economy and Commerce of the Kyrgyz Republic has been tasked with transferring the functions of the Cabinet of Ministers regarding participation as a co-founder and shareholder to the National Investment Fund, as well as jointly monitoring the implementation of the resolution with the fund.
This document is aimed at improving the institutional model for attracting investments and will come into effect seven days after its official publication.
Context of the Situation
The OJSC "Abu Dhabi Kyrgyz Investment" is being established in partnership with the Abu Dhabi Development Fund as an investment platform for implementing projects in the Kyrgyz Republic.
At the World Government Summit in Dubai (UAE), the Chairman of the Cabinet of Ministers Adylbek Kasymaliev held talks with the General Director of the Abu Dhabi Development Fund Muhammad Al-Suwaidi.
Reference Information
According to the Ministry of Justice of the Kyrgyz Republic, the director of OJSC "National Investment Fund of the Kyrgyz Republic" is Temirbekov Ulan Temirbekovich, and the founder is GAUGI.
The head of "Abu Dhabi Kyrgyz Investment" is Isanov Almaz Nasirdinovich, with founders: Abu Dhabi Development Fund, Ministry of Finance (as of February 29, 2024).
