BISHKEK, Kyrgyzstan, June 27. Members of Kyrgyzstan's Parliament have approved a draft law on the creation of the National Investment Fund in three readings, Trend reports.
At the parliamentary session, lawmakers endorsed the bills "On the National Investment Fund of the Kyrgyz Republic" and amendments to the laws "On the Privatization of State Property in the Kyrgyz Republic," "On Joint Stock Companies," and "On Strategic Objects of the Kyrgyz Republic."
According to Daniyar Amangeldiev, the Minister of Economy and Commerce, the law establishing the fund is designed to enhance the efficiency of management and ensure sustainable growth in the value of enterprises with state participation. Additionally, it aims to attract investments by enabling these enterprises to enter local and international capital markets.
The existing laws were given a makeover to bring them in line with the "National Investment Fund of the Kyrgyz Republic" bill and make way for the smooth-sailing establishment of the National Investment Fund of the Kyrgyz Republic OJSC.
The sole shareholder of the fund is the Cabinet of Ministers of Kyrgyzstan. The shares of the fund are state property.