During the recent years, Georgian government has been actively working on the development of the capital market - this is one of the important directions of our reforms, including the reform of investment funds, on which the government cooperated closely with the National Bank, and the establishment of the first investment fund in four years is a very important moment for the development of the country’s economy. Such a statement made today the Minister of Economy, Levan Davitashvili, at the official opening ceremony of the first authorized investment fund in Georgia.

“Foresight GEL Money Market Fund” was founded by the Foresight Investment Group LLC, a licensed asset management company. As it was said at the presentation, this is a new type of financial product, which further expands the range of financial products available to society and the business sector.

By placing funds in the “Foresight GEL Money Market Fund”, the investor can receive additional income from own cash resources. The minimum contribution to the fund is 100 GEL, and the benefit is added to the daily balance.

“It is important that the people of our country have alternative investment tools, which means that, in addition to qualified investors who have specific experience in terms of investments, ordinary citizens, companies, any consumer will have the opportunity to direct their savings to the investment fund and get the maximum benefit. This is a new, alternative tool that will interest the population - most importantly, it is an authorized fund, which means that it is under the regulations of the National Bank and its reliability or trustworthiness is very high”, - said the Minister.

He also noted that the country needs more financial instruments at this stage of development, which the Ministry of Economy is actively working on. According to him, a well-developed, competitive banking system has played an immense role in the development of the economy over the years and its importance will be maintained for many years ahead. However, it is necessary to create more opportunities for both accumulation of savings and investment, and new tools for placing savings of customers should be created. Accordingly, the government is working on the establishment of appropriate policies and legislative provisions.

“In Georgia, we had many cases when the rights of investors were not properly protected, therefore, the formation of legislation of the highest standards and the corresponding capabilities in the controlling institutions are fundamentally important, and that is exactly the issue we are working on. I think that the stable economic development in recent years has gained the trust of a large part of our society, as well as increasing the credibility of new tools. We see that the thing that seemed very unusual and strange to us before, are becoming more and more understandable and common every day, so the Ministry of Economy is intensively involved in such initiatives. We will constantly continue working in the direction of creating perfect financial instruments in the country, developing the capital market, and obviously, we will support investment funds, because their role in the economy is very large”, - said Levan Davitashvili.