The Cabinet of Ministers of Kyrgyzstan has included RedStone Group LLC on the list of organizations eligible for tax incentives under Asman Eco-Friendly City project. The relevant order was signed by Cabinet Chairman Adylbek Kasymaliev on November 5, 2026.
Under the document, supplies of goods, works and services related to the construction of the new city will be subject to zero rates of value-added tax (VAT) and sales tax. The zero VAT rate will also apply to imports of goods intended for the project.
RedStone Group is the only company included on the approved list.
The tax incentives will remain in effect throughout the project implementation period, but for no longer than five years. The company is also required to complete construction within the established deadlines.
The Presidential Affairs Department of Kyrgyzstan has been designated as the government body responsible for overseeing the project.
The Asman Eco-City Project, planned for the shores of Issyk-Kul Lake, has been granted the status of a national investment project.
RedStone Group was previously named as the project’s investor. According to published materials of the investment agreement, the planned investment amounts to $20 billion. A 4,015-hectare land plot has been designated for the city and is to be leased for 49 years.
In August 2026, government representatives announced at an investment forum in Bishkek that a legal framework had been established for the next stage of the project.
Asman is envisioned as a modern city with environmentally friendly infrastructure, residential neighborhoods, public spaces and facilities designed to attract investment.
