Starting 2018 nonresidents?is able to purchase corporate securities. Archil Mestvirishvili, vice chairman of National Bank of Georgia (NBG), noted that, currently, state GEL-denominated securities represent a most-developed segment.
Jointly while using stock game, the unit is being intended to the direction of corporate bonds, he was quoted saying.
\”Currently, we have now 3 nonresident investors, who buy state securities. There are many organizations in Georgia that own global securities. This signifies foreign bodies are capable of buy GEL-denominated securities. Currently, we cooperate using the stock exchange to inflate the software to corporate bonds and equity. Starting 2018 nonresidents can simply buy corporate securities”.
Today we\’ve got complications with capital market development and we are wanting to? resolve this condition, including concerning taxation environment, infrastructure, various regulations and legislative changes. We cooperate with international organizations and Government of Georgia to solve these complications and we all formerly achieved certain progress\”, Archil Mestvirishvili noted.