This agreement regulates Kazakhstan's rights to resort facilities located in the Issyk-Kul region of Kyrgyzstan and extends the obligations for modernization until the end of 2029. Kazakhstan is required to upgrade its facilities, transforming them into 3- and 4-star hotels operating year-round, with the original agreement having been signed on July 4, 2006.
According to deputy Nuriya Niyazova, it is provided that Kazakhstan will be able to attract investments and carry out the demolition of existing buildings on the provided territory. The agreement covers four facilities: the "Kazakhstan" sanatorium, the "Samal" rest house, the "University" sports and health camp, and the "Olympus" sports and health center.
According to information from Informburo.kz, Kazakhstan plans to modernize four hotels at Issyk-Kul; however, funding for all the facilities has not yet been secured, as stated by Vice Minister of Finance Dauren Temirbekov.
He noted that funds will be allocated only for the "Kazakhstan" sanatorium in the amount of 9 billion tenge, while the other facilities will be handled by investors.
Almara Petroleum is ready to invest 3.7 billion tenge in the renovation of "Olympus," which is under the Ministry of Tourism and Sports. For the "Samal" rest house, owned by the Satpayev Kazakh National Research Technical University, about 10 billion tenge is planned to be allocated.
As for the university's sports and health camp, an investor for this facility has not yet been found. Temirbekov added that the total amount of investments for it could reach about 13 billion tenge, according to calculations with the Ministry of Science and Higher Education.
Investors come without any preferences; the terms of implementation are determined by the existing agreements in the territory of Kyrgyzstan, the vice minister added.
On May 27, 2025, the President of Kyrgyzstan, Sadyr Japarov, signed a law regarding agreements with Kazakhstan on resorts and land plots in the Issyk-Kul region. According to this document, Kazakhstan is obliged to bring its resort facilities up to the level of 3- or 4-star hotels.
