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Foreign investors want equal land rights

13 June 2010 - Issue : 889


The survey of the International Business Council (IBC) shows that foreign investors in Kyrgyzstan consider that they should be equaled in rights to land possession with local entrepreneurs, Irinnews.org reported. Determination of foreign person, specified in the Land Code, creates unpredictable legal consequences for business environment. The Land code states that change of status of a JSC 20% share owner may transform this JSC into a foreign legal entity. The opportunity for foreign persons to take possession of lands of certain categories will give wide guarantees and exclude many risks at conducting business in Kyrgyzstan, the IBC review citing one of participants of the survey read. The survey says that now feign investors will be confident in tomorrow and express more interest in investment. In its turn, it serves as an impulse to full-scale development of various sectors of economy and will solve many social problems. Around 27% of the respondents in the survey agree that it is necessary to provide foreign investors with equal rights for acquisition of all categories of lands, while 50% of respondents noted the necessity of equaling of all in rights to land within settlements.

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