Launch of Tamchy SFIT discussed in Bishkek with Singaporean experts
A working meeting on the implementation of the Tamchy Special Financial Investment Territory project was held at the Administration of the President of Kyrgyzstan.
The meeting was chaired by Prime Minister Adylbek Kasymaliev. It was attended by heads of relevant government agencies and representatives of the Singaporean investment and consulting firm Makara Capital.
The parties discussed the implementation of the Law of the Kyrgyz Republic “On the Tamchy Special Financial Investment Territory with a Special Legal Regime and Status” and the establishment of an International Dispute Resolution Center based on English law.
As Mr. Kasymaliev emphasized, the Tamchy Special Financial Investment Territory is one of Kyrgyzstan’s strategic development priorities intended to become a new driver of economic growth. The Prime Minister highlighted the need for coordinated efforts among government agencies and the speedy adoption of the relevant regulatory framework to speed up the project.
Experts from Makara Capital presented the basic principles for implementing the project. According to their analysis, the success of the investment territory would depend on independent management, the application of English law, and an attractive tax and financial environment. The Singaporean experts specifically emphasized the need for modern infrastructure and human resource development.
The consultants said Tamchy’s operational model would be unique for the region. The concept is expected to combine the best practices of the international financial centers of Dubai and Singapore, adapting them to Kyrgyzstan’s national economic priorities.
