Gov't creating new council to develop state enterprise reform strategy
The goal of the reform is to bring the management of state-owned enterprises closer to the highest standards of corporate governance. Photo: Nino Alavidze/Agenda.ge.
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A new council will be created in Georgia that will develop a state enterprise reform strategy to be implemented in 2021-2024, announces Georgian Prime Minister Irakli Garibashvili.
The goal of the reform is to bring the management of state-owned enterprises closer to the highest standards of corporate governance.
In addition the reform aims to help the country emerge from the crisis caused by the Covid-19 pandemic and further develop the economy.
Garibashvili said that the International Monetary Fund supports the reform while the partner organistions, including the World Bank and the Asian Development Bank are involved in the process.
Georgia has become a member of the World Association of Investment Promotion Agencies (WAIPA) through the application of Invest in Georgia, which is run by the country's export support agency Enterprise Georgia.
The government of Georgia is starting to reform state-owned enterprises, announced Georgian Prime Minister Giorgi Gakharia at today's government meeting, adding that this will be 'an extremely important process during the economic life of Georgia in 2021-2024'.
The government should start thinking about the privatisation of state-owned enterprises, said Acting Prime Minister Giorgi Gakharia earlier today in parliament, noting that this does not apply to strategic companies.
Enterprise Georgia has expanded its programmes from which investors can benefit. Georgian Economy Minister Natia Turnava stated earlier today that within the programme investors may receive land for symbolic 1 GEL ($ 0.3/€0.25).
Georgian Prime Minister Irakli Garibashvili on Monday announced his Government had approved a four-year strategy for reforming state-owned enterprises with the aim of establishing “appropriate corporate governance”.