Today, a discussion and preliminary approval of the draft law concerning amendments to a number of legislative acts related to venture financing took place in the Jogorku Kenesh of the Kyrgyz Republic. This project was presented by the Cabinet of Ministers.
The Deputy Head of the National Investment Agency, Zhalyn Zheenaliev, emphasized that this draft law is aimed at improving the investment climate and stimulating venture investments in startups and innovative companies. It proposes the creation of a favorable legal regime and the protection of investors' interests, which aligns with modern market requirements and international standards of venture activity.
As part of the draft law, the introduction of new terms such as "venture financing," "venture investor," "venture fund," "business angel," and "startup," along with the concept of an option agreement and option pool, is planned.
During the discussions, Deputy Bolot Saginayev focused on mechanisms that facilitate the attraction of venture investments, as well as on the regulation of venture fund activities.
Deputy Saltanat Amanova raised questions regarding the specifics of venture financing, including the minimum and maximum amounts of charter capital for venture funds.
Gulsharkan Kultaeva highlighted the importance of requirements for the organization and regulation of venture funds, pointing out the need for enhanced control to prevent dishonest behavior by participants.
The Chairperson of the committee, Toktobubu Ashymbaeva, drew attention to the number of business angels in the country, as well as the conditions for creating venture funds and mechanisms for supporting startups, especially those developing based on higher education institutions.
