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Gold Kyrgyzstan: second thought

15/04-2011 14:24, Bishkek

The process is going! Authorities decided to follow previous regimes. The Parliament of Kyrgyzstan set a commission to reconsider the contract with the biggest foreign investor who implements the project most significant for the economy and the country.

To intimidate the investor

?The volume of investments reduced in the first quarter of 2011 comparing with the same period in 2010,? the Prime Minister Almazbek Atambaeyv stated during the recent government?s meeting. ?The reason is that our politicians frighten investors. Kumtor?s overall production decreased. Peoples? rallies impede the company to work normally. The Ministry of Internal Affairs and the prosecutor?s office have to impose order. It is time to stop frightening investors, investment and money love calmness. We have to ensure order and protection of investments.?

We were waiting for such statement of the Prime Minister for a long time. Unfortunately, the head of the government was late as usual. If investors feared before then now they made final conclusions. Kyrgyzstan is inscribed in the world chronicle as the country reconsidering terms of the contracts with big investors under each change of the government. The most bright and often used example is events around the biggest gold mining company of Kyrgyzstan ? Kumtor, a litmus paper of the investment policy of the country.

Terms of the company?s work were reconsidered many times. The last revision was made on the initiative of Almazbek Atambayev. Taking the post of the Prime Minister during Bakiyev?s government he pushed for the change of terms of the contract in favor of the Kyrgyz side.

In early April parliament members formed a working group comprising experts and public figures to reconsider terms of the contract with investor and expose shareholding structure. A formal reason is claims of the initiative group displeased with the work of the gold mine as it was several years ago. Miners were accused of disruption of foodchain in mountains, radiation leap to the deadly level, destruction of houses made of airbricks because of passing by trucks and intention in attempt on the life of one of members of the group. ?The popular cry? was supported by parties entered the Parliament.

http://eng.24.kg/business/2011/04/15/17594.html