Kyrgyzstan establishes National Investment Fund - presidential decree

BISHKEK. July 25 (Interfax) - The National Investment Fund has been set up in Kyrgyzstan, the Kyrgyz presidential press service said on Thursday.

"Kyrgyz President Sadyr Japarov signed a bill on the National Investment Fund into law," the press service said.

A number of companies with state participation will be incorporated into the fund's authorized capital, it said. The law aims to improve the effectiveness of managing economic entities with state participation, ensure sustainable growth in the value of economic entities with state participation, and draw investment by entering the local and international capital markets.

In accordance with the law, the government is forming the fund's capital as a result of issuing and placing the fund's shares. Payment for the placed shares may be made by shares in other economic and/or joint-stock companies, property complexes and other assets belonging to the state. The decision on the use of state property facilities, including strategic facilities, which are transferred as payment for the placed fund shares, is made by the government.

The involvement of the fund and its subsidiaries in projects may be accompanied by creating favorable market conditions in reproducing socially important goods, work and services or developing their areas of activity.