ASTANA, Kazakhstan, February 12. Kazakhstan and Kyrgyzstan have settled the legal status of Kazakh-owned resort facilities located in the Issyk-Kul region of Kyrgyzstan, Trend reports via the Senate (the upper house of Kazakhstan's Parliament).
The Senate of Kazakhstan has ratified the Agreement on the Settlement of Property Rights and the Treaty on the Lease of Land Plots in the Issyk-Kul region of Kyrgyzstan.
The documents establish a unified legal framework for the operation of Kazakhstan’s resort and recreational facilities in Kyrgyzstan.
Under the agreements, Kazakhstan retains ownership rights to four facilities, including one sanatorium, two holiday resorts, and one sports and wellness center;
Obligations to modernize the facilities, except for the sports base, have been extended to upgrade them to the level of three- to four-star hotels. The land plots are leased for 49 years.
The Kyrgyz side guarantees that no measures will be taken to expropriate the facilities, and their use will strictly comply with their designated purpose.