OREANDA-NEWS. October 04, 2010. In the framework of the project supported by the OSCE Center in Bishkek, the International Business Council (IBC) is conducting the Open Meeting on development prospect of the mining sector in the Kyrgyz Republic, reported the press-centre of IBC.

The IBC and the OSCE Centre in Bishkek organized the Open Meeting in close co-operation with the Ministry of Natural Resources of the Kyrgyz Republic. The Open Meeting will serve as a unique platform for representatives of the investment business community to discuss the main concerns with state representatives and other stakeholders. Due to the April and June events, the investment climate was seriously affected in Kyrgyzstan, and the investors of the mining sector faced number of problems, which need urgent responses. The key point of the Open Meeting’s agenda is the package of draft laws regulating the mining industry. The Open Meeting will provide opportunities to establish close and fruitful relationships between state organizations and business community for mutually beneficial cooperation.

Volker Jacoby, the Economic Environmental Officer of the OSCE Centre in Bishkek, said: "In terms of the current difficult situation, development of the mining sector in Kyrgyzstan will definitely contribute to the social economic stability in rural areas and general improvement of the investment climate in Kyrgyzstan."

Kuban Ashyrkulov, IBC Executive Director, added: "During the last nineteen years only one gold mining project, Kumtor, has been realized, while Kyrgyzstan has seventeen potential mining projects to be explored. The lack of transparency and bad governance lead to very slow development of the mining industry. In order to boost the mining sector, we have to as soon as possible adopt new mining legislation with thorough consideration and close involvement of the business community.”

In frme of the project, the OSCE Centre in Bishkek supports publishing of the “Investment Now” magazine, which includes survey with thorough analysis of the current investment climate and mining development.