4 challenges to overcome:
Acting Economy Minister presents economic development plan

The candidate for minister of economy Giorgi Kobulia has presented his vision for the country’s economic development at a joint meeting of parliamentary committees today.

Kobulia put forward four main challenges and shared his ideas on how to overcome them.

Challenge 1:

The first challenge is "unsatisfactory” rates of development in Georgia’s small and medium-sized businesses. To overcome this challenge Kobulia will initiate easier access to credit for small and medium-sized businesses. Another initiative is so called clusterisation, which means uniting small and medium-sized business operating in different fields.

Challenge 2:

Kobulia said that his team will try to accelerate the level of industrialisation. He said that Georgia attracts investments, but it is also important to boost production. He suggested to choose several sectors of the economy, make them a priority and attract investments to these sectors. Also, production should be oriented on export, "which will bring us foreign currency”, said Kobulia.

Challenge 3:

Regional development is another challenge that Kobulia’s cabinet will try to overcome. He said the ministry of economy will work together with ministry of agriculture to help develop agricultural industry. In his opinion, infrastructure should be created in the field of storage, processing and realisation.

Challenge 4:

And finally, the fourth challenge is turning Georgia into a logistics hub. Kobulia said that Georgia is often referred to as a logistics hub, but little has been done to develop and use this possibility in a more effective manner.