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IFC supports new inspection rules to reduce burden on Kyrgyz businesses.

IFC, a member of the World Bank Group, is helping the Kyrgyz Republic improve the inspections process for businesses through new regulations that reduce inspections for many firms and help them save time and money. New amendments to the Kyrgyz Republic's inspections law - incorporating IFC advice and adopted by the Kyrgyz government on June 24 - will introduce risk-based inspections. Selecting business to be inspected in accordance with the level of risk they represent will significantly reduce the number of inspections and lower the burden of inspections on many businesses in the country. The new procedures should decrease the inspection time from 30 calendar days to five working days for small businesses, and from 30 calendar days to 15 working days for larger businesses. State agencies will also introduce inspection checklists to raise awareness among entrepreneurs of inspections requirements and increase transparency. "The new legislation will make the inspections system more efficient for both businesses and inspectors, supporting health and safety standards, and making it easier for businesses to comply with regulations," said Sanjar Mukanbetov, Deputy Minister of Economic Regulation of the Kyrgyz Republic. Vsevolod Payevskiy, Project Manager of the IFC Investment Climate Advisory Services Project, said, "Together with the Government of Switzerland, and in partnership with the USAID Business Environment Improvement Project, we have supported the Kyrgyz government in moving toward this very important milestone. There are still challenges ahead, and we look forward to supporting the Kyrgyz government during the implementation stage in the reform process." The Investment Climate Advisory Services Project in the Kyrgyz Republic is supported by Switzerland, and is part of IFC's broader regional initiative to help governments in Europe and Central Asia remove administrative barriers to small and medium enterprise growth, simplify state regulation, and raise entrepreneurs' awareness about their rights and responsibilities.

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Publication:AKIpress News Agency
Date:Jun 30, 2011
Words:311
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