AKIPRESS.COM - The International Finance Corporation (IFC), a member of the World Bank Group, and the Ministry of Economy launched yesterday a two-day peer-to-peer learning conference to encourage regional leaders to share best practices in business regulations and regulatory governance in an effort to spur investment, create jobs, and boost growth.

IFC is working to help countries in Europe and Central Asia strengthen business operations by improving implementation and adopting new reforms. As part of those efforts, the Bishkek conference welcomed executives, officials and experts from the region and beyond to analyze the key challenges in regulatory governance and consider solutions.

“Making business regulations transparent and efficient helps businesses launch, create new jobs and grow,” said Kylychbek Jakypov, Deputy Minister of Economy. “This is very important for Kyrgyzstan, which is undertaking reforms to make the regulatory environment more business-friendly. We are hopeful that this learning opportunity will encourage broader reforms to further improve business regulations in our country.”

“During this conference we are exploring the links and potential synergies between regulatory reform and the reform of governance systems, their role and importance in ensuring public and private sectors reap the benefits of new legislation,” said Serhiy Osavolyuk, IFC Project Manager.

The initiative is part of the World Bank Group’s Trade and Competitiveness Global Practice’s Investment Climate Project, which helps the government of Kyrgyzstan to streamline regulations and make the business environment more business friendly.