Request For Expression Of Interest For National Consultant To Conduct Research On International Good Practice Of Supporting And Encouraging Stock Market

Request For Expression Of Interest For National Consultant To Conduct Research On International Good Pratice Of Supporting And Encouraging Stock Market Through Tax Incentives And Prepare Recommendation On Mongolian Legal Environment Procurement Method IndividualNotice No Op00069544Mongolia Has Received A Credit From The International Development Association Ida For The Strengthening Fiscal And Financialst Ability Project Sffsp The Objective Of The Sffs Project Is To Contribute To The Government Of MongoliaS Efforts Tostrengt Hen Fiscal And Financial Stability And Improve The Quality Of Expenditure The Project Is Designed Into Five Components I Strengt Hening Macroeconomic And Fiscal Management Ii Improving The Efficiency Of Public Financial Management Iii Enhancing Financial Sector Stability Iv Strengthening The Social Protection System V Project Management And Monitoring Theobjectives Are To Str Engthening Fiscal Responsibility And Implementing Relevant Policy Measures Improving Fiscal Discipline Strengthening The Resilienc Y Of The Banking System Improving Public Expenditure Quality In Social Protection Providing Supportfor Project Implementation Co Ordination Monitoring And Evaluation Including Inter Alia Audit Arrangements Reportingrequirements Procurement And Financial Management Activities Respectively For More Details Please Refer To The Project Appraisaldocument Report No Pad2269 Themongolian Capital Market Is Still Under Development And Therefore Securities Marketlegislation And Its Enforcement Should Be Furth Er Strengthened There Are Some Legal Framework In Place Which Ensures Issuance Andcirculation Of Basic Products Mostly Shares Andgovernment Securities And Basic Infrastructure For Capital Markets Issuance Oflocal Corporate Debt Securities Is Relatively Rare And It Needs To Be Made More Efficiently Appropriate Legal Framework Alonecannot Sufficiently Create A Well Developed And Effici Ent Markets And It Is A Prerequisite That Bringing A Certain Level Of Legalreforms May Lift Existing Barriers For Various Market P Articipants In 1994 The Securities Market Law Of Mongolia TheSecurities Market Law Was Enacted On May 24 2013 The Parliament Of Mongolia Enacted The Revised Securitiesmarkets Law And It Took Effect From January 1 2014 The Purpose O F The Revised Securities Market Law Was To Introduce Effectiveand Clear Guidance With Respect To Initial Public Offerings Of Sharesand To Define The Distinction Between Primary And Secondarysecurities Market Activities While Providing Measures For Preventing In Sider Dealing Trading And Market Abuses The Revisedsecurities Market Law Defines Securities Broadly To Include Derivatives Deposi Tory Receipts And Warrants And Expressly Permitsover The Counter Trading Of Securities Even Though The Legal And Regulatory Frame Work Is Developed And Basic Infrastructure Andcapital Markets Basic Instruments Such As Equity Government Bonds And Corpor Ate Bonds Are In The Markets Since 1991 Thelast 28 Years Of Capital Markets Development Was Unsatisfactory And It Needs To Be Dev Eloped Further Domestic Privatecorporations Are Lacking Long Term Low Cost Financial Resources And Therefore They Are Interested I N Raising Funds Through Capitalmarkets And Individual Investors Interests On Investing In The Capital Markets Have Relatively Incre Ased These Days As Well Thus As A Measure To Attract More Companies To Utilize The Capital Markets As Well As Investors To Partici Pate In Investing In Thecapital Markets The Government Of Mongolia Should Take Initiatives For Creating Some Tax Concessions Envir Onment For The Capitalmarkets To Become More Attractive And Dynamic Moreover The Government Of Mongolia Has Approved Ldq Uo Financial Sectordevelopment Plan 2025 By Resolution 299 Dated On October 2017 The Main Objective Of The Plan Is To Pro Mote Sustainablegrowth Of The Financial Sector And To Create Favorable Legal And Regulatory Framework For Balanced Financial Sector S And Also Tostimulate Economic Growth Through Preventing The Financial Crisis With This Master Plan For Developing Capital Market S Thegovernment Should Define Taxation Policies On The Capital Markets In Line With The Development Objectives The Tax Policies H Ave Astrong Influence They Can Support Hamper Or Distort The Development Of Capital Markets The First Importance Is Not To Harmmarkets Development Therefore In Order To Implement The Policies And Defining The Tax Policy To Encourage The Development Of Capital Markets The Ministry Of Finance Mof Is Seeking To Hire A National Individual Consultant To Prepare Recommendationsfor Developing And Supporting Mongolian Capital Markets Through Tax Incentives The Assignment Will Be Closely Supervised By Mof Thrro Foghout The Period Of The Consultancy Service And In Addition The Consultant Is Expected To Coordinate The Work With Thefinancial Gulatory Committee And Other Related Organizations Objectives Of The AssignmentThemain Objectiv E Of The National Individual Consultant Is To Assist The Financial Markets And Insurance Division Fmid Of Financialpolicy Departm Ent Of Ministry Of Finance Mof For Conducting Research On International Good Practices Of Tax Incentives Forsupporting Capital Ma Rkets Development And Prepare Recommendations On Mongolian Capital Markets Related Legalenvironment Scope OfworkThe Consultant Shall Carry Out The Following Tasks But Notlimited To Preparing R Ecommendations On Developing And Supporting Mongolian Capital Markets Through Taxincentives Bas Ed On The Current Tax Legislation And Its Rates Carry Out An Analysis Anddetailed Estimation On The Tax Revenue Related To The Cap Ital Markets Activities Such As Capital Gains Dividend Tax And Fees Ontransactions Conduct Research On International B Est Practices Of Tax Incentives For The Capital Markets Development Andeffectiveness Of Tax Incentives For Corporations And Investo Rs Capital Markets Participation Behavior Provide Recommendation Based On The International Best Pra Ctices On Various Types Of Suitable Taxconcessions That The Government Should Introduce For Promoting The Capital Markets Activiti Es Prepare Therelevant Legal Documents Research Papers And Other Supporting Documents For Introducing Capi Tal Markets Tax Incentives Policy Andmaking Amendments To The Related Laws Recommendation On Inst Itutional Arrangement ForfmidTo Consult With Stakeholders And Organize The Working Group Meetin Gs And Publicdiscussion To Provide Advice And Support The Fmid With Issues Related To Financial Markets Throughout The C Onsultancyservice Undertake Such Other Tasks Including Coordination Of Other Activities Relating To The Assignment As Re Asonablyrequested And Or Assigned By The Director Of Financial Policy Department And The Head Of Financial Markets And Insurance Division ConsultantS Qualifications SelectioncriteriaEducation A Suitable Candidate Should Have A Bachelor Rrsquo S Degree Or Higher From An Accredited University CriteriaEducationExperience Incumbent Should Have At Least 5Years Of Relevant Professional Experience With The Skill Of Developing Legislation Conducting Fin Ancial And Economic Analysis And An Excellent Understanding Of Mongolian Capital MarketS Current Condition And Its Challeng Es Laws Andregulations Language Skills Fluent Written And Spoken Skills In English And Mongolian Other Skills Excellent Skills In Research Facilitation Of Workshops Andconsultations With Excellent Skills And Abilities To Function Effectively And Collaboratively In A Team Environment CoBe Proficient In Pc Based Applications Such As Word Excel And Data Management And Have Excellent Web Research Andnavigatiskills The Consultant Will Be Selected In Accordance With Theworld BankS Procur Ement Regulations Foripf Borrowers July 2016 If You Possess The Above Qualificatio Ns Please Submit Followingdocuments Via Email To Procurement Sffs Mn 1 Cover Letter Indicatingwhy She He Considersher Himself Suitable For The Position 2 Detailed Cv Highlighting Relevant Skills Ex Perience 3 Copy Of Diplomas Or Certificates And 4 2 Reference Letters From Pre Vious Lasttwo Employers No Later Than 17 00 April 04 2019 The Submitted Documents Will Not Be Retu Rned Tothe Applicants Please Note That Incomplete Applications Would Not Be Considered For Evaluation Only Selected Candidates Wi Ll Becontacted Candidates Can Be Interviewed Detailed Terms Of Reference Can Be Requested From Procurement Sffs Mn Contact Addres S Attn Ms Bayarmaa Procurement Specialist Strengthening Fiscal And Financial Stability ProjectRoom 204 Negdsen Undestni I8 2 4Th Khoroo Chingeltei District Ulaanbaatar Mongolia Tel 70120582

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