Kyrgyzstan Aims to Boost Women's Entrepreneurship with New Law

Summary:

Kyrgyzstan is introducing a new law to support women's entrepreneurship and increase their participation in the economy.
The amendment to the “On the Protection of Entrepreneurs’ Rights” law aims to address the underrepresentation of women in the Kyrgyz economy.
The bill defines a woman entrepreneur as a legal entity with a woman owning at least 51% of the shares, potentially opening doors to preferential financing and state support.
The law hopes to address challenges faced by women entrepreneurs such as limited access to financing and societal barriers.
This initiative is inspired by similar legislation in Azerbaijan, where state-level support for women entrepreneurs has been successful.

Kyrgyzstan is taking steps to empower female entrepreneurs by introducing a new law that explicitly defines and supports women's entrepreneurship. This amendment to the “On the Protection of Entrepreneurs’ Rights” law aims to address the underrepresentation of women in the Kyrgyz economy. The amendment cites IMF data showing that female entrepreneurship can contribute up to 27% to the country's GDP. The bill states that women entrepreneurs often face challenges such as limited access to financing and societal barriers. By introducing the term “woman entrepreneur” and defining it as a legal entity with a woman owning at least 51% of the shares, the law hopes to encourage preferential financing and state support. This move is seen as a significant step towards promoting gender equality and economic empowerment in Kyrgyzstan.

Source: Times of Central Asia