Government to offer 100 state-owned buildings to business tomorrow
Turnava said that the process of privatisation will help attract additional investments in the country and will stimulate economic growth. Photo: Ministry of Economy.
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Ministry of Economy and the National Agency of State Property will offer local and international businesses 100 buildings for privatisation tomorrow, announced the Ministry of Economy.
Minister of Economy Natia Turnava says that such a case is unprecedented, with all 100 buildings going on offer for privatisation at once in the form of parallel auctions.
Turnava said that the total initial price for these buildings is 150 mln GEL ($50.4 mln/€45.8 mln).
Businesses can access all the information about the buildings on the website of the National Agency of State Property and will be able to be involved in the process of privatisation.
To simplify the selling process, all information about the buildings will be published on the website, with recommendations for purposing the buildings . These recommendations will be in accordance with the general plans of the towns and municipalities where the buildings are located.
Turnava said that all the legal issues will be handled in advance of the sale, including the valuation process, property registration, and boundary specification.
This is one of the largest investment offerings, a very broad choice for businesses, where and how they can invest and create new jobs," said Turnava.
Turnava said that the process of privatisation will help attract additional investments in the country and will stimulate economic growth.
The Ministry of Economy will offer 100 state-owned buildings to investors for privatisation this month, said Georgian Economy Minister Natia Turnava earlier today.
One of the main priorities for the Ministry of Economy in 2020 is the privatisation process of state property and the goal is to increase the privatisation income in the state budget, said the Georgian Minister of Economy Natia Turnava today.
A wind energy plant in Gori in the Shida Kartli region of Georgia will be privatised in a month or month and a half, Georgian Economy Minister Natia Turnava said. Turnava stated certain facilities belonging to the state are difficult to sell as the privatisation process requires special preparation in advance.
The Government of Georgia is addressing a problem facing dozens of investors who purchased state-owned assets but were unable to complete the privatisation process.
State-owned assets which are not fully involved in the Georgian economy should be involved in the economy as soon as possible in order to support the rapid economic growth of the country, said Georgian Prime Minister Giorgi Gakharia at a presentation of 100 investment offers for businesses.
On the basis of the state-owned buildings which will be privatised, hotels, medical, education and other profile institutions will be built which will entail the creation of about 2,500 new jobs, said Georgian Minister of Infrastructure Maia Tskitishvili earlier today.
The Georgian state is selling about 130 state-owned assets at auction.
6 of over 100 state-owned assets auctioned to businesses for $3 mln
Six of more than 100 assets offered to businesses by the Georgian government, “in an unprecedented project” on November 29, have already been sold for 8,090,000 GEL [3 million dollars], Georgian Minister of Economy Natia Turnava stated earlier today.
The process of getting water licenses for small and medium-size business owners will become easier, said Economy Minister Natia Turnava yesterday after the government meeting.
The Georgian Economy Ministry is offering natural resources for privatisation in addition to other state-owned assets offered through the “100 investment projects for business” program, said Georgian Prime Minister Giorgi Gakharia at a government meeting earlier today.
Over 120 million GEL has been earned from the privatisation of state buildings in 2020 despite reduced business activity amid pandemic, said Georgian Acting Economy Minister Natia Turnava earlier today.
The government should start thinking about the privatisation of state-owned enterprises, said Acting Prime Minister Giorgi Gakharia earlier today in parliament, noting that this does not apply to strategic companies.
The government of Georgia is starting to reform state-owned enterprises, announced Georgian Prime Minister Giorgi Gakharia at today's government meeting, adding that this will be 'an extremely important process during the economic life of Georgia in 2021-2024'.
A concert hall located in the Rike Park of the Georgian capital city of Tbilisi could not be sold at auction for 47.5 million GEL despite a 50% discount, announces the National Agency of State Property. "The auction failed again because no one expressed a desire to buy the building", said the agency.