Faroe Islands set to present Investment Fund takeover proposal to Danish Parliament

The proposal for the Faroe Islands to take over the Investment Fund is set to be presented to the Danish Parliament.

The Danish government has conducted hearings with regional authorities, Danish Business, and Danish Industry regarding this initiative.

No comments were received from those parties involved.

The Faroese Parliament has already approved the takeover of the Investment Fund.

All 28 members present in the parliamentary session on that day voted in favor of the proposal from the regional government.

The takeover is scheduled to take effect on January 1, 2025.

Since the law governing the Investment Fund is Danish, the proposal must also go through the Danish Parliament.