"Problems on the border, probably, have accelerated the transfer of the used by Uzbekistan vacation hotels into the ownership of Kyrgyzstan," the Minister of Economy of the Kyrgyz Republic Arzybek Kozhoshev told journalists today.
According to him, the Ministry of Economy is aware of statements of the current owners of Zolotye Peski about investment of $ 6 million in the recreation area. However, it should be tested and proven.
"According to the investment agreement, they were to improve Zolotye Peski service up to 5 stars, but these obligations have not been fulfilled. The State Property Management Fund has to find out the amount of funds spent on the improvement of the vacation hotel. As for possible proceedings in international courts of arbitration, there won't be any. There is an agreement dated 1992, which documents Kyrgyzstan's ownership of the vacation hotels. We can not announce their balance value. The State Property Management Fund will find it out," Arzybek Kozhoshev said.
"We can not say that the return of vacation hotels in our ownership is connected with border problems. Perhaps, the situation has accelerated the process, but the work is systematic. We have also Kazakh hotels, work on them is also carried out," he added.