33rd anniversary of stock market establishment celebrated

        A bell ringing ceremony was held on the Mongolian Inventory Change (MSE) to mark the thirty third anniversary of the institution of the inventory market in Mongolia and the Change on January 18.

Performing Government Director of MSE J.Tsogtbayar mentioned in his opening speech, “MSE has made historical past with its progress and achievements of the previous 30 years. On today 33 years in the past, the Mongolian Inventory Change was established to start out the method of privatization of state property and additional develop the inventory market. On this manner, we wish to congratulate all of those that labored arduous and developed collectively within the technique of transitioning Mongolia from a centrally deliberate financial system to a market financial system, creating individuals within the inventory alternate and securities market, and introducing new services and products. Over the previous 33 years, the market worth of the inventory alternate has been efficiently elevated to the stage of 20 % of GDP.”

In response to the Monetary Regulatory Com mission (FRC), the market worth of digital alternate has reached a historic excessive of 11.6 trillion MNT and 21.6 % of GDP. Final 12 months, corporations raised about 1.45 trillion MNT by way of preliminary public choices (IPOs) and asset-backed securities and bonds. As a part of the reform of the banking sector, the market capitalization of banks elevated by 5.86 trillion MNT. FRC then talked about that one of many vital duties that shall be carried out this 12 months is the tax discount and the earnings tax exemption of funding funds, the discount of the dividend tax of publicly traded corporations, and the calculation of the taxable earnings of international buyers on an equal foundation with that of home buyers. To internationalize the inventory market and join it with the markets of Asia and the Pacific area, FRC plans to prepare an occasion in main monetary facilities of the area this 12 months. As well as, consideration shall be paid to extend buyers’ belief out there, increasing worldwide cooperation, enriching the names and forms of merchandise and providers based mostly on superior know-how and supporting inexperienced financing, and updating the regulation and authorized framework of the securities market. For instance, FRC experiences that amendments are deliberate to be made to the Securities Market and Funding Fund Legal guidelines.

Director of Enterprise Growth Division of MSE T.Khash-Erdene mentioned, “Because the institution of MSE, the market worth of the inventory alternate has reached 11 trillion MNT, shares of greater than 170 corporations are publicly traded, and mining merchandise price 7.7 trillion MNT have been traded.”