PM at Georgia-Estonia business forum: “Estonian investments increased by 52% in 2016”
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Georgian Prime Minister Giorgi Kvirikashvili stated at today’s Georgia-Estonia business forum in Tbilisi that the country’s liberal trade regime, low taxes and strategic location made Georgia as a regional leader for investment opportunities.
Our economic policy is for fair, free, inclusive and sustainable development. We are carrying out a very ambitious reform agenda which will further strengthen our democracy and boost economy,” Kvirikashvili stated, mentioning the four-point reform agenda.
Met w/ PM @KvirikashviliGi in #Tbilisi who gave deep insight about reforms #Georgia has and is going through. Impressive steps made. pic.twitter.com/WHn2iufxPW
— Kersti Kaljulaid (@KerstiKaljulaid) November 1, 2017
The PM stated that Georgia’s foreign trade policy is "one of the most liberal worldwide.”
Kvirikashvili said that:
- Georgia takes 9th position in the World Bank Doing Business index, improving its position by seven points compared to last year.
- Frazer Institute’s Global Economic Freedom latest survey named Georgia as 8th among 159 world countries.
- For low taxes Georgia takes 8th position worldwide based on the World Economic Forum.
- Georgia improved its corruption perception index by 38 points in the course of the past five years.
- Georgia’s property protection index improved by 74 positions.
- The country advanced by 39 points for fair court.
- For tax encouragement to businesses Georgia improved its position by 21 places.
- For the macroeconomic environment the country advanced by 89 points under the Georgian Dream leadership.
Business people from Estonia and Georgia attended the forum. Photo by Prime Minister's press office.
Despite all this we are taking steps to make our tax system even more liberal,” Kvirikashvili stated.
The PM highlighted Estonia’s "huge progress” since the country gained independence from the Soviet Union and thanked the nation for its support to Georgia’s sovereignty and territorial integrity.
Estonia is an example of success,” he said.
The PM stated that in 2015 direct foreign investments from Estonia to Georgia increased six times compared to previous years and in 2016 by 52 percent.
In first nine months of 2017 trade turnover between Georgia and Estonia increased by 6 percent,” Kvirikashvili said.
The PM stated Georgia and Estonia had big potential to further enhance trade-economic ties.