According to the updated document, the concept of the authorized body is clarified, which is now defined as the state body responsible for the formation and implementation of state investment policy.
The principles for processing investor complaints are outlined in the updated version and will be based on key aspects such as the rule of law, objectivity, fairness, as well as the completeness and effectiveness of the process.
State and local authorities are required to publish on their websites and online platforms information on how investors can submit complaints according to the established procedure.
The procedure for submitting and considering appeals is also clarified. Investors can submit their complaints to the authorized body at any stage, including before approaching the court, arbitration court, or international arbitration. Additionally, the authorized body has the right to independently identify complaints during the process of supporting investors.
After registering the appeal, the authorized body conducts an analysis of the situation, including an assessment of potential economic risks for Kyrgyzstan, as well as a check for compliance with international and national legislation. If the complaint is found to be justified, a letter outlining the claims and recommendations for their resolution will be sent to the relevant entity, with notification to the investor.
The entity against which the complaint has been filed must present its position in response within seven working days from the date of receipt of the letter. Some points and annexes of the previous version of the resolution have been declared invalid, including one of the versions of the annex.
The changes will come into effect 15 days after their official publication.
