“The law on Investment Funds will facilitate development of the capital market and attraction of investments, it will serve as a new guideline for the investors and for new investments and the country needs this law”, - the Chair of the Budget and Finance Committee, Irakli Kovzanadze stated at the online dialogue organized by the Committee, Business and Economic Center, and with engagement of the Economic Ministry, and the National Bank.

According to him, the law-makers in cooperation with the experts and parties concerned, have discussed the bill prior to the I reading tomorrow.

The bill on Investment Funds aims at development of the investment funds, establishment of the regulations and provision of free competition, as well as protection of interests of the investors on legal basis.

The law will apply the investment funds and asset managing companies, as well as the natural persons and legal entities engaged in the activity related to investment, management, administration and registration of the assets.

The bill has been developed in cooperation with the Government and the National Bank and is backed by the USAID, Council of Investors, and the World Bank.

The online meeting was also attended by the heads of all leading funds registered in Georgia and representatives of other financial institutions.