According to Bekeshev, the proposed amendments introduce a new approach to resolving disputes involving investors. In particular, the initiators of the draft law suggest that in the event of a conflict, investors should first attempt to resolve it through negotiations with the state. Only if an agreement is not reached will the case be referred to the courts of Kyrgyzstan, and only after that will the parties be able to appeal to international arbitration.
It is important to note that the possibility of appealing to arbitration will be enshrined in a written agreement between the parties.
“I’m not sure how foreign investors will react to this,” added Dastan Bekeshev.
Also, as part of the discussed initiatives, it is proposed to abolish mandatory accreditation for foreign investors. The deputy supported this idea, stating that it would be more reasonable to transition accreditation to a voluntary format.
