Govt' to Submit Draft Law on Investment Funds to Parliament

The government has completed work on a Draft Law on Investment Funds and will submit it to Parliament, Georgian Prime Minister Giorgi Gakharia said at the Executive Government Meeting today.

As he explained, the Law on Funds is necessary for the further development of the capital market.

“We've been working on the Draft Law on Investment Funds for about four years. This work was completed successfully. Most importantly, the Law on Funds is of the utmost importance for the further development of the capital market. Capital market development is the only and most effective means of redistributing financial resources in the economy. Today we have completed this work and the relevant legislation will be sent to Parliament. This will contribute to the development of the country's economy, which is very important for the development of the Georgian business environment and attracting foreign capital," the Prime Minister said.

He added that adopting the Law would be another step forward.

"I emphasize that the Law on Funds will be extremely important for the redistribution of capital in the economy, as well as for the development of the capital market," Gakharia stressed.

There are 11 issues for discussion on the agenda of the government meeting, including the Draft Law on Investment Funds and the relevant draft laws.

By Ana Dumbadze