This agreement between the governments of both countries concerns Kazakhstan's ownership rights to resort facilities located in the Issyk-Kul region of Kyrgyzstan. It extends Kazakhstan's obligations to modernize these facilities until the end of 2029, with the aim of upgrading them to the level of 3- and 4-star hotels operating year-round. The initial contract was signed on July 4, 2006.
According to Senator Nuriya Niyazova, Kazakhstan will gain the right to attract investors and demolish existing structures on the leased territory. Under the agreement, Kazakhstan is granted rights to four facilities: the "Kazakhstan" sanatorium, the "Samal" recreation center, the "University" sports and health camp, and the "Olympus" center.
Informburo.kz reports that Kazakhstan plans to modernize four hotels on Issyk-Kul, but funding has only been allocated for part of the facilities, stated Deputy Minister of Finance Dauren Temirbekov.
He clarified that funding of 9 billion tenge will be directed to the "Kazakhstan" sanatorium, while obligations for the other facilities will be placed on investors.
Regarding the renovation of the "Olympus" center, which is managed by the Ministry of Tourism and Sports, the investor, Almara Petroleum, is ready to invest 3.7 billion tenge. The "Samal" recreation center, owned by the Satpayev Kazakh National Research Technical University, will receive about 10 billion tenge.
Temirbekov noted that an investor has not yet been found for the third facility—the university's sports and health camp. Search efforts are ongoing, and preliminary calculations in collaboration with the Ministry of Science and Higher Education suggest that the required investment may amount to around 13 billion tenge.
He added that investors come to the projects on their own initiative, and no special conditions are offered to them, as implementation depends on existing agreements in Kyrgyzstan.
On May 27, 2025, the President of Kyrgyzstan, Sadyr Japarov, approved a law concerning agreements with Kazakhstan regarding resorts and land plots in the Issyk-Kul region. According to this document, Kazakhstan is obliged to bring its resort facilities up to the standards of 3- or 4-star hotels.
