Significant changes are expected in the investment market
To ensure stable and rapid economic growth, not only short-term, but long-term financial resources are also vital. Capital market instruments play an invaluable role in attracting such large and strategic funds.
Major changes are expected to take place in the investment market. For this reason, the Committee on Budget and Economic Issues of the Legislative Chamber of the Oliy Majlis is completing the process of preparing the draft law "On the Capital Market" for the second reading.
This draft law is aimed at fundamentally renewing the legal foundations for the development of the national capital market. It provides for significantly expanding the types of financial instruments in the capital market, stimulating investment activity, and creating more favorable and attractive conditions for market participants.
In particular, clear and strong legal norms are being established regarding the implementation of modern financial instruments, strengthening mechanisms to protect the rights and legitimate interests of investors, improving the capital market infrastructure, and regulating the activities of professional participants.
At the same time, special attention is being paid to adapting the national capital market to international practice and advanced standards, as well as increasing its transparency and operational efficiency.
The draft law is also very comprehensive in terms of its regulatory scope. The draft includes norms aimed at regulating relations in the capital market based on modern requirements, reliably protecting investors' rights, and developing the market infrastructure. In addition, the need to ensure compliance with current legislation and improve certain norms in existing legislation is also provided for.
During discussions of the draft law, its norms are being further refined based on proposals from deputies, relevant ministries and agencies, specialists and experts, entrepreneurs, and direct capital market participants. Furthermore, the economic and legal consequences associated with their practical application are being thoroughly analyzed.
Therefore, the essence, legal significance, and level of consistency with existing legislation of each norm in the draft are being reviewed one by one. In particular, from the legal terminology of new financial instruments to the powers and obligations of capital market participants, the rich experience of developed countries in reliably protecting the rights and legitimate interests of domestic and foreign investors is being thoroughly studied.