RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of October 21, 2025 No. 687

About approval of the Privatization program of state-owned property in the Kyrgyz Republic for 2026-2028

According to article 91 of the Constitution of the Kyrgyz Republic, article 4 of the Law of the Kyrgyz Republic "About privatization of state-owned property in the Kyrgyz Republic", being guided by 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 the Privatization program of state-owned property in the Kyrgyz Republic for 2026-2028 according to appendix.

2. To the state agency on management of state-owned property under the Cabinet of Ministers of the Kyrgyz Republic:

1) to submit in the Cabinet of Ministers of the Kyrgyz Republic the report on results of execution of the Privatization program of state-owned property in the Kyrgyz Republic for 2023-2025 approved by the resolution of Jogorku Kenesh of the Kyrgyz Republic "About approval of the Privatization program of state-owned property in the Kyrgyz Republic for 2023-2025 and introduction of amendments to the resolution of Jogorku Kenesh of the Kyrgyz Republic of July 8, 2011 No. 941-V "About approval of the Program for effective management and the order of the nationalized objects" of March 1, 2023 No. 999-VII;

2) to provide the relevant information on execution of the specified Program in Jogorku Kenesh of the Kyrgyz Republic.

3. 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.

4. This resolution is subject to official publication and becomes effective since January 1, 2026.

Appendix

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of October 21, 2025 No. 687

The privatization program of state-owned property in the Kyrgyz Republic for 2026-2028

According to the Forecast of social and economic development of the Kyrgyz Republic for 2026-2030 approved by the resolution of the Cabinet of Ministers of the Kyrgyz Republic "About the forecast of social and economic development of the Kyrgyz Republic for 2026-2030" of July 25, 2025 No. 443, medium-term target macroeconomic indicators will be reached including through effective management of the state assets of the country.

In the forthcoming period of 2026-2028 state policy in the field of privatization of state-owned property will be oriented to completion of realization of the remained assets which were not realized for 2023-2025.

The privatization program of state-owned property in the Kyrgyz Republic for 2026-2028 (further - the Program) will also include number of new objects which it is unprofitable to leave in property of the state.

Processes of privatization of state-owned property will take place according to the provisions of the law of the Kyrgyz Republic "About privatization of state-owned property in the Kyrgyz Republic".

On the basis of the analysis of financial and economic condition of subject to privatization taking into account its specific, industry, regional and other features, and also the prospects of further development and market situation by authorized state body in the sphere of management of state-owned property the method and specific terms of privatization will be determined.

In the National Development program of the Kyrgyz Republic till 2030 approved by the Presidential decree of the Kyrgyz Republic "About the National development program of the Kyrgyz Republic till 2030" of June 5, 2025 No. 178, tasks in the sphere of the financial market which will be directed on are determined:

- attraction of the capital in real production sector through initial public offerings of the companies (IPO) and release of corporate bonds;

- creation of the favorable regulatory legal base for simplification of the procedure of entry of business entities into the stock market.

At the same time it should be noted that according to requirements of the Law of the Kyrgyz Republic "About privatization of state-owned property in the Kyrgyz Republic", placement and sale of the stocks owned by the state on the stock exchanges of foreign states are performed according to the decision of the Cabinet of Ministers of the Kyrgyz Republic according to the requirements established by the exchange.

Sale of the stocks owned by the state by means of release and placement of global depository receipts with listing on the foreign stock exchanges certifying the rights to such shares is performed according to requirements of the legislation of the Kyrgyz Republic and the applicable legislation of foreign stock exchange.

According to the Program privatization of number of objects of state-owned property will be performed, including:

- the state packets of shares / the state shares, privatizeable, provided in appendix 1 to this Program;

- property complexes and other state-owned property, privatizeable, provided in appendix 2 to this Program.

The estimative organizations according to the procedure, established by the legislation of the Kyrgyz Republic on public procurements which will bear responsibility for reliability and justification of the works which are carried out by them according to the legislation of the Kyrgyz Republic on estimative activities will be attracted to cost determination of subjects to privatization by authorized state body in the sphere of management of state-owned property.

Due to the long-term nature of action of the Program as required changes and additions in accordance with the established procedure can be made to it.

Information on privatization and results of transactions on privatization of state-owned property is posted on the official site of authorized state body in the sphere of management of state-owned property.

Appendix 1

to the Privatization program of state-owned property in the Kyrgyz Republic for 2026-2028

List of the state blocks of shares and state shares, privatizeable

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