National Capital Investment Board
| Bureau nationale d'investissement d'capital | |
| Agency overview | |
|---|---|
| Formed | 1958 |
| Jurisdiction | Gylias |
| Parent department | Ministry of Economy |
| Website | http://www.ncib.gov.gls/ |
The National Capital Investment Board (French reformed: Bureau nationale d'investissement d'capital), abbreviated NCIB (BNIC), is an administrative agency which directs investment on the basis of social priorities.
History
It was created in 1958, during the transition from the Free Territories to Gylias. Although it had no proper predecessor during the Free Territories, its creation reflects the overwhelming support for economic planning as part of the Gylian consensus.
Organisation
It is an administrative agency that reports to the Ministry of Economy.
Reponsibilities
The NCIB practically administers capital controls and foreign exchange controls, in cooperation with other institutions such as the National Bank of Gylias, National Cooperative Confederation, and General Council of Workers' Unions and Associations.
It directs capital investment, whether domestic or foreign, on the basis of social priorities. Allocations focus on areas that would benefit the economy from multiplier effects, such as housing, infrastructure, and public works.
The NCIB uses a varied toolkit to carry out its mission, ranging from direct control and steering of money (mainly through the Gylian National Investment Fund and Gylian Stock Exchange), credit guidance (in collaboration with the NBG), and indirect steering through collaboration with the NCC (particularly Agsa) and GCWUA. It is particularly influential in determining where Gylian savings (such as insurance companies, trust funds, and national funds) are invested.
Impact
The NCIB has been a crucial component of Gylian planning and public policy since its establishment. It has brought an instrumental contribution to Gylias' achivement of high quality of life indicators despite GDP per capita lagging behind the regional average.
NCIB investment has played a significant role in launching several now-significant Gylian industries, such as clothing and jewellery, construction, computers, electronics, and biotechnology.