Cabinet of Ministers decides to create tourism and industrial holding companies
The Cabinet of Ministers of Kyrgyzstan decided to create holding companies in the fields of industry and tourism.
Their tasks should be to increase the long-term value of state assets and develop these sectors of the economy.
The holding companies will allow optimizing the management structure of state-owned companies. In addition, due to the transition to a holding model of management, the flexibility and efficiency of decision-making will increase, and the interference of sectoral state bodies in the current activities and personnel issues of state enterprises is excluded.
However, the current legislation does not contain the concept of «national holding company», therefore, it is required to fix the legal status of these holding companies at the legislative level.
Products of the spheres of subsoil use, energy and industry account for more than a third in the national export of goods and make up a large share in GDP.
It is noted that the national holding companies will be included in the list of strategic objects.
