Kyrgyzstan Considers Granting Permanent Regime To Its High Technology Park
Date
5/21/2024 3:08:23 AM
(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, May 21. Kyrgyzstan isconsidering granting a permanent Regime to its High TechnologyPark, Trend reports.
The relevant proposal was approved in the first reading by thebudget, economic, and fiscal policy committee of Kyrgyzstan'sParliament. The bill was initiated by the Cabinet of Ministers.
The proposal aims to introduce a permanent regime for the HighTechnology Park, arguing that setting a fixed term for itsoperation would be a limiting factor for the development of theinformation and communication technology sector. This new measureis expected to increase both interest and attractiveness forforeign IT companies to consider relocating to Kyrgyzstan.
The High Technology Park regime is a special legal and taxstatus that provides tax exemptions and insurance contributionbenefits for export-oriented IT companies.
More than 400 resident companies are currently registered in theHigh Technology Park, employing over 2,500 people. In 2023,residents earned 7.5 billion soms ($85.038 million), with exportsaccounting for 92.4 percent of their total revenue.
MENAFN21052024000187011040ID1108237892
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.