The Cabinet of Ministers of Kyrgyzstan has amended Resolution No. 32 of January 28, 2022 «On the Procedure for Handling Investor Complaints and Supporting Them.» This decision was made to improve the investor protection mechanism.
According to the document, the status of the authorized body is clarified. It is now defined as the government agency responsible for developing and implementing state investment policy.
The new version sets forth the principles for handling investor complaints. They will be based on the rule of law, objectivity, fairness, completeness, and effectiveness.
Government agencies and local government bodies are required to post information on their websites and online resources about how investors can submit complaints in accordance with the established procedure.
The procedure for filing and reviewing complaints is being clarified. Investors have the right to submit a complaint to the authorized body at any stage—before going to court, an arbitration tribunal, or international arbitration. Complaints may also be identified by the authorized body itself as part of its investor support efforts.
After registering a complaint, the authorized body conducts an analysis, including an assessment of potential economic risks for Kyrgyzstan and potential violations of international or national law. If the complaint is confirmed to be valid, a letter is sent to the relevant entity outlining the complaint and recommendations for addressing it, and the investor is simultaneously notified.
The complainant is required to submit their position within seven business days of receiving the letter. A number of clauses and appendices have been declared invalid, including the previous version of one of the appendices to the procedure.
The resolution will enter into force in 15 days.
