On October 31, President of the Kyrgyz Republic Sadyr Japarov signed important documents designed to promote interstate cooperation between Kyrgyzstan and the United Arab Emirates following talks with his counterpart in Abu Dhabi, the press office of the President of Kyrgyzstan reports.
Kyrgyzstan and the UAE intend to create a joint venture holding company with an authorized fund of $100 million. The joint venture will be set up in Kyrgyzstan.
Along with financing, the UAE will provide business competencies. The management process at the joint venture will be based on the principles of corporate governance, using the best business practices of the United Arab Emirates. High-level foreign managers will be engaged to develop and manage projects.
The parties also signed the exchange notes on amendments to the Memorandum of Understanding between the governments of the Kyrgyz Republic and the UAE on a visa-free regime for diplomatic passport holders that provide for a visa-free regime for official passport holders, the Agreement on sister city relationships between Bishkek and Abu Dhabi, the Memorandum of Understanding between the UAE Cyber Security Council and the State Committee for National Security of the Kyrgyz Republic and other important documents.
