The International Business Council calls on the government of Kyrgyzstan and Centerra Gold Inc. for consensus. The parties should begin consultations on the settlement of court disputes, the IBC said.

The organization reminded the words of Almazbek Atambayev that Kyrgyzstan should become a paradise for business, an investor, any entrepreneur: local and foreign, large and small. The President has set the task — creation and implementation of the Strategy for Sustainable Development of the country until 2040, based on human capital and innovation. One of the main tasks of both the future and the current strategy is to create a favorable investment climate in Kyrgyzstan. The NSDS recognized the mining industry as one of the strategic sectors of the economy.

The IBC stressed that the arbitration proceedings does not contribute to improving the investment attractiveness of our country. As of today, there are a number of suits at the international arbitration courts against Kyrgyzstan. One of them is the arbitration proceedings on Centerra’s lawsuit against the government on Kumtor project.

«Taking into account the importance of this investment project for the country, the IBC offers the government of Kyrgyzstan and Centerra to finish trials. According to experts, the claims of the State Ecological Inspectorate dated 2013 and the State Environment Protection Agency dated 2016 are almost the same. The state authorities want to recover money from the enterprise for reimbursement of the same damage caused, in the opinion of state bodies, by the disposal of waste in dumps," IBC noted.

«We urge both sides to reach a compromise solution. This is necessary both for Centerra and for the government. State policy in the mining sector should be aimed at maintaining the balance of interests of the state and the investor," the statement says.