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from 23.01.2008

Belarus adopts 2008-2010 Corporate Securities Market Development Programme

Belarus adopts 2008-2010 Corporate Securities Market Development Programme

A programme was adopted in Belarus to develop the corporate securities market in 2008-2010. The corresponding decision is laid down by resolution No 78/1 of the Council of Ministers and the National Bank dated by January 21, 2008.

lThe main purpose of the programme is creating the necessary conditions for establishing an integral, liquid, transparent and effective securities market as part of the national financial market integrated into the global securities market and contributing to attracting investments, first of all, into the real economy sector.

The programme includes a list of measures aimed at removing factors, which slow down the development of the corporate segment of the securities market, and provides for perfecting taxation laws through reducing taxes on incomes gained from operations with securities, through lifting limitations from equity carve-out; bringing golden share regulations into compliance with international rules.

The document also provides for improving the effectiveness of the management of state property, introducing collective investors, new stock market instruments, giving access to foreign securities markets to Belarusian companies.