MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Ekaterine Mikabadze, the First Deputy Minister of Economy and Sustainable Development, took part in an online dialogue on the draft law on investment funds. The online dialogue was initiated by the Chairman of the Finance and Budget Committee of the Parliament Irakli Kovzanadze and organized by the Business and Economy Center. Representatives of the National Bank of Georgia and the private sector participated in the event.

According to Ekaterine Mikabadze, the draft law is based on the main international principles and regulation models, and, on the other hand, it envisages the level of development of the capital market in Georgia and the economy in general.

“The harmonization of the investment legislation with the EU legislation will not only increase the quality of investor protection, but will be a prerequisite for greater confidence and interest in Georgia from international market participants,” – the First Deputy Minister commented. Mikabadze also noted that the development of the investment funds market will strengthen Georgia’s financial sector, increase its efficiency and provide an alternative source of funding for the business sector, which will ultimately contribute to the country’s economic growth.

The draft law on investment funds was developed with the support of the Government of Georgia, the National Bank of Georgia, the USAID, the Investors’ Council and the World Bank.