The goal of the draft law is to improve the investment climate in the country
In the first reading, the draft law concerning venture financing was reviewed by the Committee of the Jogorku Kenesh responsible for science, education, innovation, and information technology, as well as for culture, sports, and youth affairs.
The Deputy Director of the National Investment Agency under the President, Zhalyn Zheenaliev, noted that the main task of the draft law is to create a more favorable investment climate, especially in the field of venture capital for startups and innovative companies.
As part of the draft law, it is planned to introduce and enshrine in legislation terms such as "venture financing," "venture investor," "venture manager," "venture fund," "business angel," "startup," as well as "option agreement" and "option pool."
During the discussion, Deputy Bolot Sagyinaev emphasized the mechanisms for supporting venture investments in startups and regulating the activities of venture funds.
Deputy Saltanat Amanova raised questions regarding the specifics of venture financing, including the minimum and maximum sizes of the authorized capital of venture funds.
Additionally, Deputy Gulsharkan Kultaeva discussed the requirements for organizing and regulating the work of venture funds.
As a result of the discussions and voting, the draft law was approved by the committee members.
