BISHKEK: Kyrgyzstan is considering granting a permanent regime to its High Technology Park, Trend reports. The relevant proposal was approved in the first reading by the budget, economic, and fiscal policy committee of Kyrgyzstan's Parliament. The bill was initiated by the Cabinet of Ministers. The proposal aims to introduce a permanent regime for the High Technology Park, arguing that setting a fixed term for its operation would be a limiting factor for the development of the information and communication technology sector. This new measure is expected to increase both interest and attractiveness for foreign IT companies to consider relocating to Kyrgyzstan. The High Technology Park regime is a special legal and tax status that provides tax exemptions and insurance contribution benefits for export-oriented IT companies. More than 400 resident companies are currently registered in the High Technology Park, employing over 2,500 people. In 2023, residents earned 7.5 billion soms ($85.038 million), with expo rts accounting for 92.4 percent of their total revenue. Source: Trend News Agency