Georgia working on capital market development strategy
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Georgia takes actions to develop capital market, implement equity securities, corporate bonds, derivatives and other instruments.
Today, Georgia’s economic team discussed the capital market development concept, created by Georgia’s Ministry of Economy and Sustainable Development, the National Bank of Georgia (NBG) and Georgia’s Finance Ministry.
The representatives of the Georgian Stock Exchange positively assessed the Government’s action plan.
At the meeting Georgia’s Economy Minister Dimitry Kumsishvili said capital market played an important role in the economic development process.
By developing capital market Georgia could attract long-term financial resources in the national currency, which was a challenge for the country, according to Georgia's Economy Ministry.
Until the end of 2016 Georgian Government will create several legislative acts and improve the exchange market infrastructure in order to develop the capital market, announced the Ministry.
The Asian Development Bank (ADB) is enhancing its support for Georgia to foster inclusive and sustainable growth and to strengthen regional connectivity.
The Georgian Government, the National Bank of Georgia (NBG) and the country’s private sector should team up to develop Georgia’s capital market.
The International Finance Corporation (IFC) is issuing a 30 million GEL bond (about $15 million USD) to support Georgia’s capital markets. This is IFC’s first local currency issuance in Georgia.
Georgia is making changes to the country's tax law in a bid to improve the investment climate, attract more investors and additional capital to the country.
Georgia is making it easier for foreign investors to access the local financial market by becoming the 55th domestic market link for an important player in the securities services industry.
The Government of Georgia on Monday presented its Capital Market Development Strategy, supported by the Asian Development Bank, in a forum hosted by the ADB and Luxembourg in Tbilisi.