According to the parliamentarian's statement, the proposed amendments aim to establish a new procedure for resolving disputes between investors and the state. The authors of the draft law are interested in ensuring that in the event of a conflict, investors first attempt to resolve it through direct negotiations with government bodies. If unsuccessful, the dispute will be referred to the courts of Kyrgyzstan, and only after that will the parties be able to turn to international arbitration.
An important aspect is that the possibility of referring to arbitration must be documented in a written agreement between the parties.
“I’m not sure how foreign investors will perceive this,” added Dastan Bekeshev.
Additionally, as part of the discussed initiatives, it is proposed to abolish mandatory accreditation for foreign investors. The deputy supported this idea, emphasizing that a more reasonable approach would be to shift accreditation to a voluntary mode.
