The business environment in the country is more business oriented than in some countries in the region, but overall many improvements are necessary. Starting a business are easy, quick and cheap, but administrative requirements, especially in the SME sector, are perceived as a significant burden. Registering a property is one of strong sides of the regulatory framework, Kyrgyz Republic being one of global leaders. The process of licensing and providing permits is not transparent and is can be easily manipulated. The biggest problems for private enterprise are located in the field of corruption, which is omnipresent, as well as policy instability and inefficient bureaucracy, which is complicated, and plagued with inconsistent regulations. Dealing with construction permits is cheap but
lengthy. However, getting electricity is inefficiently slow and expensive, mostly due to Severelektro public company. Tax regulations pose a problem, with high number of payments, and complicated procedures. Their actual implementation are also problematic, due to low quality of the tax authorities. Banking regulation is not in line with international standards, and the central bank is perceived not to be independent from the government. Labour regulations are mostly flexible: fixed term contract are not allowed for permanent tasks, but maximum level of fixed term contract is relatively long. The mandated minimum wage is relatively low. Envisaged Labour Code reforms that would introduce further liberalization were put aside due to public dissatisfaction.