DUSHANBE, April 15, 2011, Asia-Plus — Secondary equity market will be created in Tajikistan with help from foreign investors, according to the Ministry of Finance (MoF).
The source at a MoF says Tajikistan is currently conducting negotiations on providing grants for creation of the secondary equity market in the country with a number of foreign investors and international financial institutions.
“This complicated and time-taking process requires considerable investments. It is to be noted that within the CIS area, securities exchanges now operate only in Russia and Kazakhstan,” noted he. “We are conducting negotiations with internationally known exchanges, including Russia’s MICEX (Moscow Interbank Currency Exchange), asking them to advise us on organization of the secondary equity market in Tajikistan.”
According to the preliminary data, the secondary equity market is expected to start working in Tajikistan before the end of this year.
The basic documents for further formation and development of the equity market in Tajikistan include the equity market development program and the strategy for development of equity market designed for the period until 2012.
The project designed for 2008-2012 is being implemented to ensure turnover of the government and non-governmental securities within the framework of the strategy for development of the equity market in Tajikistan. This project provides for development of the equity market and organization of the secondary market for buying and selling of securities.
