The European Union granted GSP+ Status to the Kyrgyz Republic (Generalised Scheme of Preferences), which allows “Made in Kyrgyzstan” products to enter the EU markets free of duties. Only 16 countries in the world have the same status of the GSP+.
“GSP+ provides advantages to foreign investors and international partners of the Kyrgyz Republic, as it allows them to produce in our country and export products on favorable terms to the EU”, – said Talant Sultanov the director of NISS, a public policy think tank.
The country has friendly business climate and favorable conditions for investors. It has a liberal economic legislation, the lowest taxes in the region and freedom of movement in the capital. It has highly educated work force and low production costs (e.g. cheapest electricity tariffs in the world).
Kyrgyzstan offers various benefits and preferences for investors, such sales tax exemption for exporters. It is that easy to set up business there, that the World Bank ranked Kyrgyzstan #9 in the world in the “Ease of Starting a Business” category of the “Doing Business” report.
The favorable investment climate has been confirmed by global rating agencies Moody’s and Standard and Poor’s, which assigned the country’s sovereign credit ratings on the level B2 and B, correspondingly, with a “stable” outlook. This is on par with Mongolia and 2-3 notches higher than even some of the European countries. Over the last year international partners increased investment into the country by 2.3 times compared to 2014.
As the first country in the former Soviet Union to join the WTO, Kyrgyzstan has become one of the largest trading nations and became one of very few countries, and the only landlocked country, where trade turnover exceeded GDP. The country is adjacent to the largest markets of the world such as China, India, Iran, Russia and others. It is visa free for almost 50 countries. Visa-free regime functions with about 50 countries. More than a hundred joint ventures are successfully operating with participation of foreign capital in various areas in Kyrgyz Republic – from the mining industry (the largest gold mine “Kumtor” is located in the Kyrgyz Republic, which is among the top ten in the world in terms of reserves) to service industries and tourism.
Kyrgyzstan joined the category of the safest countries for tourists according to experts of the International Tourism Association in 2015. Here is one of the most beautiful lakes in the world – Issyk-Kul, which is annually visited by about 2 million tourists from around the world, the famous Karakol giant slalom and the world’s largest reserve of wild walnut plantations in Arslanbob.