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Agressive Privatization Policy

Georgia's new government is aggressively privatizing state-owned property to attract private capital to state owned assets in order to introduce efficient management, increase investment and boost economic growth and jobs creation. The Government of Georgia received $297 million USD from the privatization process in 2006.

 

Privatization

Privatization

Source: Ministry of Economic Development of Georgia 

 

Key features of Georgia's privatization policy include:

  • Flexibility - Use of Various Methods of Sale: To promote an efficient privatization process, the Government of Georgia utilizes various methods to privatize state-owned property such as tender, auction, lease-redemption and direct sale.
  • Transparency - To ensure a high level of fairness and transparency, the Government actively works towards establishing international contracts with interested organizations and potential investors. A special web-site, http://www.privatization.ge/, has been created to provide privatization related information.
  • Fairness - Equal Opportunities for all Potential Buyers - Any Georgian or foreign person or company has the right to take part in the privatization process in compliance with the laws of Georgia.
  • Investor-initiated privatization: Investors can initiate an expedited, transparent and competitive privatization of particular assets necessary to an investment project.
It is easy now to set up companies in Georgia and safe to bring capital from abroad.

Gilbert Hie

Bank Republic, Societe Generale Group, CEO