Gov’t plans to offer tax benefits to marine business

13 Sep 2018 - 12:00

  • PM Mamuka Bakhtadze said that Georgia has huge potential to turn itself into a regional hub. Photo: Prime Minister’s press office., 13 Sep 2018 - 12:00, Tbilisi,Georgia

The Georgian Government intends to offer significant tax benefits to companies engaged in marine businesses and those which offer services to such businesses starting from the next year, Georgian Prime Minister Mamuka Bakhtadze stated today at the Georgia International Maritime Forum being held in the country’s western, coastal city of Batumi.

In terms of doing business, Georgia occupies the 9th position worldwide. We also take the 9th position among world countries with low taxes. With the Adjara government we are working on a very important initiative, which will enable us to offer tax benefits to maritime business starting from the next year,” Bakhtadze said.

Georgian PM praised the role of the International Maritime Organisation. Photo: Prime Minister's press office. 

PM Bakhtadze voiced some points of the initiative: 

  • Maritime companies will be able to work in a nearly zero per cent tax regime;
  • They will have an excess to unique electronic services;
  • A comfortable environment will be provided for recruitment; 
  • Georgian maritime legislation will come in line with international standards;

PM Bakhtadze said that local production plays a particular role for boosting exports, attracting more foreign direct investments, the implementation of innovations and Georgia’s full integration into the world economic process.
He said that transport and energy development are the preconditions for the state economy development.

That is why we are carrying out such large-scale projects. We believe that for the successful development of the maritime transport field, we should bring up leaders, invest in maritime education and I am sure that the efforts will yield outcomes,” Bakhtadze said.

He added that it is essential all regional countries use Georgia’s transport potential.

Georgia is a gateway for eight countries which have no entry to the sea. This is a huge responsibility and a huge opportunity,” Bakhtadze said.

PM Bakhtadze stated that by fully using the lever, the Georgian economy will radically change in a positive direction.