AKIPRESS.COM - Good governance can have a transformative impact on investment and growth, IMF staff mission said after visit to Kyrgyzstan.

New laws and regulations should aim to minimize opportunities for corruption, enhance competition, prevent emergence of state monopolies, and strengthen transparency and accountability of the public sector.

Digitization of tax administration and allowing public access to income and asset declarations by government officials were important steps, but management of SOEs should be improved.

Developing a comprehensive SOE ownership and oversight policy would help determine which SOEs serve important public interests and should therefore remain in state ownership, and which should be divested to reduce state footprint.

The Anti-Money Laundering/Combating the Financing of Terrorism framework should be strengthened, including by improving monitoring of cross-border activities to detect and recover proceeds of corruption, IMF mission said.