Economy Ministry Aims to Streamline Business Entry into Stock Market
The Ministry of Economy and Commerce of Kyrgyzstan has put forward a proposal to simplify the entry of business entities into the stock market. This initiative is part of a draft law aimed at stimulating the development of the stock market and its digital infrastructure in the country.
Among the key proposals in the draft law are the establishment of a modern National Securities Depository that complies with international standards, the streamlining of the process for businesses to enter the stock market, and the promotion of securities trading to increase the volume of exchange trading in stock market instruments.
Additionally, the draft law seeks to introduce measures to ensure financial stability, enhance corporate governance practices among securities market participants, and establish systems for training personnel in corporate finance. It also aims to enable the activities of investment consultants, create favorable conditions for investments, including foreign investments, and boost savings among the population.
Furthermore, the draft law addresses issues related to unfair competition among professional participants in the Eurasian Economic Union (EAEU) member states and aims to rectify any inconsistencies or gaps in the legislation governing the securities market.
The draft law has passed through the parliamentary committee in its first reading, signaling a positive step towards facilitating the entry of businesses into the stock market and enhancing the overall development of the financial sector in Kyrgyzstan.
