(MENAFN- AzerNews) By
Government of Kyrgyzstan decided to give Uzbekistan land plots in Issyk-Kul, where 4 resorts are located, for a temporary use. Prime Minister Sapar Isakov signed the resolution on December 13,reports.
The decision was taken in accordance with the agreement on eternal friendship between Kyrgyzstan and Uzbekistan dated 24 December 1994, the government statement said.
The document is aimed at development of tourism and attracting direct investments.
4 objects in Issyk-Kul regio -- Bosteri, Altyn Jai (former Rakhat), Ene Sai (former name Dilorom) and Buston resorts -- are being given back to Uzbekistan. Kyrgyzstan appropriated the resorts in 2016 after the failed debt repayment.
According to the document, the land plots where these resorts are located will be provided to Uzbekistan for a temporary use and Uzbekistan side undertakes to invests in these resorts to make them the 3-4 star hotels with at least 80% of Kyrgyz employees.
In response, Uzbekistan will withdraw its claims from international arbitral proceedings and settles all outstanding disputes peacefully.
MENAFN1312201701950000ID1096228168
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.