MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development of Georgia introduced 100 Investment Offers to Business programme presentation. The Prime Minister of Georgia Irakli Gharibashvili officially opened the event.

Natia Turnava highlighted that the Government and the business community should try their best together to overcome the shock caused by the Covid-19 pandemic as soon as possible.

The Minister also noted that according to the forecast of all international financial organizations, Georgia has a chance to recover the economy the fastest, return to a positive economic growth and maintain the highest economic growth rate in the region.

“We consider the covid-pandemic, which is the biggest challenge for the whole world and for Georgia, as an opportunity for business to become more efficient, competitive and strong. For us, for the Government, for the Ministry of Economy and Sustainable Development, for my colleagues, this is the high time when we need to take sharper steps, make non-standard decisions. We made one of such large-scale, non-standard decisions following the instructions by Prime Minister Irakli Gharibashvili, when today we offered you a truly unprecedented large-scale privatization package,” – the Minister said.

100 Investment Offers for Business programme was enlarged by the Ministry of Economy and Sustainable Development and the list of real estate attractive for investment has been increased significantly. The map of the objects for sale will be supplemented by various types of state-owned enterprises, locations for the construction of infrastructure on highways, and facilities for tourism, industry, agriculture and logistics. In total, the business sector will be offered the state property worth of 400 million GEL.

According to the Minister, over half of the 150 properties presented are completely new objects, which will be put up for sale for the first time, the rest - have already been offered for auction. However, due to the changed market reality, the properties are re-evaluated and now offer on discount prices.

At this point, another 50 different types of mines have been added to the programme.

“Our task is to create new jobs, first of all, in the regions, so we have relevant property in all regions, represented by a large amount. Part of this property is an investment commitment, which is especially interesting for tourism, part is free for any use and the buyer can personally decide what to develop there,” – Natia Turnava said.

The Minister of Economy and Sustainable Development of Georgia stressed the role of business in the process of the economy-recovery and noted that in the post-pandemic situation it is the private business, the private investors who should undertake the role of the locomotive of the economic recovery.