MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

“Our economic growth philosophy is aimed not simply at the growth of the economy, but also at the equal distribution of incomes,” – Giorgi Kobulia, the candidate for the Minister of Economy and Sustainable Development of Georgia stated at the joint sitting of the 4 Committees of the Parliament, where the Members of the Parliament listened to the programs of the candidates of the economic bloc.

Giorgi Kobulia, the candidate for the position of the Minister of Economy and Sustainable Development, made special emphasis on the inclusive economic growth and the decisions to achieve this goal. Giorgi Kobulia gave special importance to the support of the SMEs, acceleration of the industrialization process, development of regions and other activities stimulating business.

According to the statement of the candidate for the Minister of Economy and Sustainable Development, despite the positive economic trends and positive results of the international ratings, Georgia faces significant challenges. According to the World Bank’s evaluation, Georgia is among the poor countries, and the economic income per capita is relatively small. Giorgi Kobulia also mentioned the high level of unemployment.

The candidate for the Minister of Economy and Sustainable Development named several priority measures to overcome those challenges and they include the development of small and medium business and the increase of population involvement in the economic processes; the industrialization and creation of new industries, creation of new perspectives in the regions and especially in the development of the agro-sector and neighboring sectors. Giorgi Kobulia gave special importance to the development of Georgia as a regional logistic hub. 

In order to stimulate these priority directions, Giorgi Kobulia suggested the development of labor resources, as well as the integration of Georgia into international markets, creation of export-oriented production and services and diversification. The candidate for the Minister of Economy and Sustainable Development has also drawn attention to the creation of a mechanism that will facilitate the availability of small and medium business finances. Giorgi Kobulia is one of those initiatives. The creation and development of agro-insurance policies will be greatly facilitated by improving the economic situation in the regions as well as the increase in productivity in agro-sector. A candidate for the Minister of Economy and Sustainable Development, speaking about industrialization, noted that it is important for the country to make the choice for sectors where the country has a comparative advantage. Another priority that Giorgi Kobulia mentioned was the development of the capital market in Georgia and further integration into the international markets.

“I strongly believe that with joint efforts, we will further strengthen Georgia’s welfare. I am very enthusiastic about fulfilling this task, for me it is a challenge and it is very interesting,” – Giorgi Kobulia, the candidate for the Minister of Economy and Sustainable Development highlighted.