Georgian PM at Silk Road Forum: Georgia has one of the most liberal tax policies, is attractive for investors
Prime Minister Gakharia pointed out that the volume of foreign direct investments exceeded eight billion dollars over the past five years. Photo: Government's press office.
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PM Giorgi Gakharia says that Georgia offers one of the most liberal tax policies, unique opportunities for capital investment, trade and innovation, using the country’s geopolitical location, “which has already led to more than eight billion USD investments in the country over the past five years.”
Gakharia has made the statement during the Tbilisi Silk Road Forum earlier today.
Georgia is the gateway of the region. Our goal is to integrate not only with the East and West, but also with the North and South,” said Gakharia.
He noted that the main goal for the Georgian government is to create more jobs, strengthen the middle class and ensure peace and stability in the country.
Free trade and preferential trade agreements allows business entities operating in Georgia to enter the 2.3 billion consumer markets all over the world. Photo: Government's press office.
Georgia offers the world a liberal tax system, less taxes and low tax rates. Reinvested earnings are taxed with zero interest according to the [Georgian] tax system. There is no capital gains tax and no limits on capital repatriation,” said the Prime Minister.
Gakharia spoke about the free trade agreement between the European Union and China, Turkey, CIS countries, and the European Free Trade Association. He also noted the preferential trade system between the US, Canada and Japan. Gakharia pointed out that Georgia is starting free trade agreements with India and is in the final stages of formalizing an agreement with Israel.
These free trade and preferential trade agreements allows business entities operating in Georgia to enter the 2.3 billion consumer markets all over the world.
In addition to a strong trade network, Georgia is investing in infrastructure, transport and logistics to strengthen its connections with [other regions.]”
Georgia is starting free trade agreements with India and is in the final stages of formalizing an agreement with Israel. Photo: Government's press office.
[Government] aims to make Georgia a regional transport and logistics hub,” he said.
The Prime Minister also pointed out Georgia's improved international business rankings.
Georgia is ranked sixth in the “Doing Business” ranking by the World Bank. The index measures the ease of doing business in international economies.
Georgia’s economic freedom score is 75.9, making its economy the 16th freest among 180 countries in the 2019 Index of Economic Freedom, provided by the Heritage Foundation.
Georgia offers the world a liberal tax system, less taxes and low tax rates. Photo: Government's press office.
In the annual Corruption Perceptions Index (CPI) by the Global anti-corruption organisation, Transparency International (TI), Georgia is ranked 41st out of 168 nations.
This year Georgia has upgraded in Standard & Poor's (S&P) long-term foreign and local currency sovereign credit ratings from "BB-" to "BB".