Kazakhstan has been given until December 31, 2029, to fulfill its obligations regarding the reconstruction of four resorts on the shores of Lake Issyk-Kul. If the terms of the agreement are not met by this deadline, Kyrgyzstan reserves the right to unilaterally terminate the lease, Economist.kg reports.
The decision is formalized in a protocol amending the intergovernmental agreement, signed in December 2024, Kursiv.kz notes.
Back in 2006, Kyrgyzstan leased four facilities to Kazakhstan for 49 years: the "Kazakhstan" sanatorium, the "University" sports and wellness camp, the "Olympus" center, and the "Samal" resort. Under the agreement, Kazakhstan committed to constructing three- and four-star hotels on these sites. However, nearly 20 years later, little progress has been made.
In December 2024, then Chairman of the Cabinet of Kyrgyzstan Akylbek Japarov and Kazakhstan’s Prime Minister Olzhas Bektenov agreed on new terms during an Intergovernmental Council meeting. Kazakhstan is now required to modernize the "Kazakhstan" sanatorium to a four-star hotel, upgrade the "University" camp and "Samal" resort to three-star facilities, while no star rating is stipulated for "Olympus."
Officials from Kazakhstan's State Property Committee have noted that the project faces challenges due to the seasonal nature of hotel operations at Issyk-Kul, which makes them unprofitable.
"We proposed amendments to the agreement to allow for the involvement of investors to finance the reconstruction of these facilities," explained the committee.
Kyrgyzstan’s Cabinet has imposed strict conditions: if Kazakhstan does not fulfill its obligations within five years, the lease agreement will be terminated, and the facilities will return to Kyrgyzstan's ownership. The Kazakh side is already working on project documentation and plans to attract private investors.
Previously, it was reported that Kazakhstan had been unable to begin reconstruction due to a lack of funds.
Uzbekistan also owns four health centers in Issyk-Kul. In the summer of 2024, Kyrgyzstan also signed an agreement with Uzbekistan to reconstruct these centers, including such large boarding houses as Dilorom and Rokhat.
CentralasianLIGHT.org
December 25, 2024