Top economic issues in focus of Economic Council meeting

The Study offered 43 specific recommendations to how to develop Georgia's capital market. Photo by N. Alavidze/, 23 Jan 2016 - 14:37, Tbilisi,Georgia

Using Estonia's taxation model in Georgia, improving the country’s tax administration and implementing a governmental initiative on suspended construction of residential buildings are some of the initiatives that were voiced at today’s Economic Council Meeting.

Members of the Economic Council discussed technical and administrative details of Georgia’s taxation reform and talked about the possible results of implementing the Estonian model in Georgia.

Georgia’s Prime Minister Giorgi Kvirikashvili spoke of the benefits of the Government-initiated project to encourage companies to continue their suspended construction of residential buildings. Kvirikashvili said thanks to this initiative, 10 companies had resumed construction, which had begun in August 2008 and were still unfinished. 

The PM also summed up the results of the World Economic Forum in Davos, Switzerland and briefed the members of the Economic Council with details about important negotiations that took place at the Forum.

Kvirikashvili said the European Bank for Reconstruction and Development (EBRD) was ready to allocate funding for Georgia’s taxation reform.

The PM also said he met foreign investors in Davos who expressed their interest in developing three and four-star hotel networks in Georgia. He instructed the Council members to prepare land packages across Georgia to offer investors for developing hotel chains.