He noted that the implementation of the main infrastructure of the SFIT "Tamchi" at Issyk-Kul could take up to ten years, so it is advisable to start introducing key investment mechanisms now by opening a branch in Bishkek.
Kulov's proposal includes the establishment of the "Bishkek International Investment Registration Center," which will be a branch of the SFIT "Tamchi" and will be able to perform legal and financial functions for the future territory.
Investors, both local and foreign, will be able to become residents of this center with a guarantee of protection for their capital. Upon registration, they will be required to contribute funds to an investment fund, which will be intended for the development of the center's infrastructure and attracting international specialists.
Economic and investment disputes will be considered based on English law with the participation of international judges and arbitrators. Kulov suggested concluding intergovernmental agreements, for example, with the United Kingdom, Singapore, and the United Arab Emirates.
As examples, he mentioned international financial centers in Dubai, Singapore, and Astana, where the English legal system and international arbitration operate, which has allowed for significant investments to be attracted.
In Kulov's opinion, opening a branch in Bishkek will accelerate the launch of investment mechanisms, attract international banks and fintech companies, as well as increase trust from investors and prepare the legal infrastructure for the full launch of the SFIT "Tamchi."
He also emphasized that such a center would signal the return of domestic investments and enhance the confidence of foreign investors.
According to his estimates, the branch could be established within a year, provided that a special law is adopted, jurisdiction under English law is defined, and an international arbitration court is created. The financing of the center is expected to come from registration and arbitration fees, as well as the services provided.
