PM of Georgia Talks About Georgia’s Investment Opportunities and Reforms

The Prime Minister of Georgia Opened the panel discussion entitled: Capture the Investment opportunities, as the Tbilisi Belt and Road forum continued at the Biltmore Hotel Tbilisi today.

“I’m honored and pleased to welcome you all to Georgia, at the Tbilisi Belt and Road Forum. This is a great opportunity for all of us to discuss the future of this unique initiative, that brings peace and prosperity to cooperation in many countries along the Silk Road,” Giorgi Kvirikashvili said in his speech, while addressing the forum audience; pointing out that the discussion centered around Georgia, and how to use the potential of the country as a trade, transit and logistics hub.

“Our approach should be based on win-win principles, when the advantages of the neighboring countries will complement each other in order to achieve advanced global development. For a balanced development, it is necessary to mitigate trade barriers and facilitate less developed countries export to reduce trade imbalance” Giorgi Kvirikashvili said, expressing his hope that “despite political challenges the region is facing, we are able to work together in a pragmatic manner, without harming the fundamental rights of our partners”.

The PM stressed that European and Euro-Atlantic integration has been identified as a major priority for the government of Georgia, as he noted that Georgia remains the strongest ally of the European Union in the region, and a key security partner. “The aim of the government of Georgia is to have a development strategy that serves not only our own, but also regional and global goals”. Kvirikashvili underlined that since the beginning of this year, spatial development of the country, which is intensively underway, is expected to increase the country’s transit capabilities for the coming years. He went on to talk about the custom, legislative and institutional reforms. “We created one of the best investment climates with attractive public services, a corruption free government and transparent business environment,” Giorgi Kvirikashvili said in his speech. “The extent of our progress is recognized in a number of international indexes; the World Bank’s ease of doing business report recently placed Georgia in 9th position out of 190 countries; the latest study of Frazer’s institute on Economic Freedom of the World also ranked Georgia as the 8th most free economy, and in recent years Georgia has been also recognized by Transparency International as a leader in the region in fighting corruption”

The PM added that the next step of the reform initiated by the Government will be the transformation of the economy and inclusive access to business opportunities, guided by the Georgian government, with the four-stage reform plan and agenda, which includes growth oriented reforms, governance reform, spatial planning reform and education reform. He spoke in detail on each of the reforms planned, from structural reforms, tax reforms, pension and capital market reforms and their advantages, and on the new possibilities they will bring to the country.

Giorgi Kvirikashvili also highlighted the importance of Georgia’s participation in major and strategic international projects such as Baku–Tbilisi-Ceyhan, Baku-Supsa oil pipeline projects, Baku-Tbilisi–Kars railway project, Lapis Lazuli transit corridor, as well the Anaklia Deep Sea Port construction project, which will be the largest maritime infrastructure project in the region.  

“The government of Georgia puts a lot of effort into the position our country has as a regional hub for trade and investments,” the Prime Minister said, while also mentioning the significance of the free trade agreements Georgia has reached with CIS countries, EFTA and China, which, according to the PM, makes Georgia a unique country in the region.

“I invite you all to explore the opportunities of our promising market” Giorgi Kvirikashvili concluded, saying that Georgia is open to global business.

“Our government stands ready to support your efforts to identify business opportunities in Georgia”, he said ending the speech. 

By Nino Gugunishvili

29 November 2017 15:42