Representatives of public and private sectors discuss bill on investment funds at NBG
By Levan Abramishvili
Tuesday, November 26
Representatives of the public and private sectors came together at the National Bank of Georgia (NBG) on November 25 to discuss the draft law on the investment funds and draft amendments to the Tax Code of Georgia.
The main aim of the meeting was to discuss the draft law that intends to provide an effective legislative framework. The bill was developed by the Government of Georgia and the NBG with the support of USAID and the World Bank and active involvement of experts and stakeholders.
The meeting, which was organized by the Ministry of Economy and Sustainable Development, the NBG and the Center for Business and Economics and in cooperation with the Budget and Finance Committee of the Parliament, was opened by the President of the National Bank Koba Gvenetadze.
The draft law on investment funds, to be initiated in the Parliament in the near future, aims to establish appropriate rules for the development of the investment funds market in Georgia and to ensure free competition, as well as the rules for the establishment and investment of investment funds and their activities. Establish legal grounds for the protection of the interests of the people.
The Draft Law on Investment Funds, which is planned to be launched in parliament in the near future, aims to establish appropriate rules for the development of the investment funds market in Georgia and to ensure free competition. It also creates regulations for the establishment of investment funds and the legal basis for protecting investors’ interests.
The law will apply to investment funds and asset management companies, as well as other natural or legal persons involved in investment fund management, asset management, storage, administration and accounting activities.
The meeting was held in the framework of the US Embassy's project "Developing Participatory Public-Private Dialogue for Inclusive Economic Growth" in cooperation with the Business and Economics Center and the Parliament of Georgia.