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RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of February 18, 2022 No. 88

About approval of the List of financial liabilities of authorized state bodies on protection of investments in the territories with particular investment regime for priority industries of economy and the social sphere and Regulations on procedure for provision of financial liabilities of authorized state bodies on protection of the investments in case of guarantee according to investment projects enshrined in investment agreements in the territories with particular investment regime for priority industries of economy and the social sphere

According to Article 63 of the Budget code of the Kyrgyz Republic, article 4-1 of the Law of the Kyrgyz Republic "About investments in the Kyrgyz Republic" and the Law of the Kyrgyz Republic "About the status of Batken Province", and also with articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Approve enclosed:

- The list of financial liabilities of authorized state bodies on protection of investments in the territories with particular investment regime for priority industries of economy and the social sphere according to appendix 1;

- Regulations on procedure for provision of financial liabilities of authorized state bodies on protection of the investments in case of guarantee according to investment projects enshrined in investment agreements in the territories with particular investment regime for priority industries of economy and the social sphere according to appendix 2.

2. To impose control of execution of this resolution on management of control of execution of decisions of the President and the Presidential Administration Cabinet of Ministers of the Kyrgyz Republic.

3. This resolution becomes effective after fifteen days from the date of official publication.

Chairman of the Cabinet of Ministers of the Kyrgyz Republic

A. Zhaparov

Appendix 1

The list of financial liabilities of authorized state bodies on protection of investments in the territories with particular investment regime for priority industries of economy and the social sphere

1. The obligations of the state within guarantees according to investment projects enshrined in investment agreements in case of causing damage as a result of illegal actions / failure to act of state bodies by consideration of the disputes which arose because of contradictions in the legislation.

2. Guarantee of protection against any forms of discrimination from the state for providing equal competitive opportunities for investors.

3. Equal relations both to foreign investors, and to domestic investors.

4. Free translation of profit and other income types.

5. Guarantee of protection of investments against expropriation, except as specified, stipulated by the legislation.

6. Guarantee of protection of the rights of investors concerning intellectual property and property.

Appendix 2

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of February 18, 2022 No. 88

Regulations on procedure for provision of financial liabilities of authorized state bodies on protection of the investments in case of guarantee according to investment projects enshrined in investment agreements in the territories with particular investment regime for priority industries of economy and the social sphere

1. General provisions

1. This Regulations on procedure for provision of financial liabilities of authorized state bodies on protection of the investments in case of guarantee according to investment projects enshrined in investment agreements in the territories with particular investment regime for priority industries of economy and the social sphere (further - the Provision), are developed according to the Budget code of the Kyrgyz Republic, the Law of the Kyrgyz Republic "About investments in the Kyrgyz Republic" and the Law of the Kyrgyz Republic "About the status of Batken Province".

2. The provision establishes procedure for provision of financial liabilities of authorized state bodies on protection of the investments determined by the Cabinet of Ministers of the Kyrgyz Republic on behalf of the authorized state bodies within guarantee according to investment projects enshrined in investment agreements for the territories on which particular investment regime acts.

3. The basic concepts used in this Provision:

1) particular investment regime - the special mode determining the state guarantees from the Cabinet of Ministers of the Kyrgyz Republic, directed to creation of the favorable investment circle in the territories in which the particular treatment according to the legislation of the Kyrgyz Republic is effective;

2) the state guarantee - the commitment letter (the investment agreement) to which the Cabinet of Ministers of the Kyrgyz Republic shall before the investor performing investments in the territories with particular investment regime in industries of economy and the social sphere according to state programs (projects) of development in case of causing damage as a result of illegal actions / failure to act of state bodies, to indemnify loss within the financial liabilities included in the investment agreement by consideration of the disputes which arose because of contradictions in the legislation of the Kyrgyz Republic;

3) financial liabilities of the state - obligation types, included in the investment agreement which list affirms the Cabinet of Ministers of the Kyrgyz Republic for priority industries of economy and the social sphere in the territories with particular treatment.

2. Conditions of provision of the financial liabilities by authorized state body in case of guarantee according to investment projects enshrined in investment agreements

4. The investor shall perform investment of investments within three years from the date of signing of the investment agreement in the capital of the invested company, on the amount equivalent at least 3 (three) million US dollars, and for Batken Province - at least 1 (one) one million US dollars.

5. The investor who performs the activities connected with studying, search, investigation, development of minerals shall enclose investments within five years from the date of signing of the investment agreement on the amount equivalent at least 20 (twenty) million US dollars, and for Batken Province - at least 10 (ten) million US dollars.

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