OSCE-supported project launched to bolster private economy, reduce corruption in Kyrgyzstan
BISHKEK, 19 March 2014 – A memorandum of understanding to launch a major regulatory system reform project was signed between the OSCE Centre in Bishkek and Kyrgyzstan’s Ministry of Economy today.
Under the three-year initiative, the government of the Kyrgyz Republic will receive assistance in raising the economic competitiveness of the country, stimulating market-driven growth and reducing corruption. The legal framework regulating private economic activity will be simplified and streamlined, and the regulatory policies, practices and procedures will be aligned with international best practice.
The project was developed upon the request of the Kyrgyz government. A group of local and international experts will work closely with various government agencies and bodies. They will prepare a comprehensive regulatory review of all legal norms and regulations, and provide recommendations on optimizing the regulatory process and eliminating unnecessary barriers for conducting private business activities.
“A dynamic economy and economic growth require that the laws and regulations governing private economic activity be clear, straightforward, reasonable and business-friendly” Ambassador Sergey Kapinos, Head of the OSCE Centre in Bishkek, said. “This would also minimize the leeway for corruption.”
“With the help of this project the burden on business imposed by government regulation will be reduced”, he added.
The regulatory reform project is part of the activities of the OSCE Centre in Bishkek under the Economic and Environment dimension and is one of Centre’s most extensive initiatives both in terms of its scale and expected impact.