Kyrgyzstan, UAE to Set up Joint Holding Company

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The Parliament Committee for Budget, Economic and Fiscal Policy considered and approved the bill on ratification of the agreement of cooperation between the Ministry of Economy and Commerce and Abu Dhabi Fund for Development concerning establishment of the joint holding company in Kyrgyzstan in 1st reading.

The charter capital of the prospective holding company will make $5 million initially. Kyrgyzstan will co-finance $2.5 million. The company will be managed based on corporate governance principles, Deputy Minister of Economy and Commerce Chingiz Makeshov said.

The charter capital will be increased to $100 million in future.

Around $1 billion investments will be attracted into the country.

The company will be headquartered in Bishkek. It will finance projects that will be carried out in Kyrgyzstan.