Georgian gov't to begin reforming state-owned enterprises in 2021-2024
The first state-owned enterprise to undergo reforms will be Georgian State Electrosystem (GSE), an electricity transmission system operator. Photo: Nino Alavidze/Agenda.ge.
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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'.
The goal that we set while reforming the state-owned enterprises is to bring their management closer to the highest standards of corporate governance. This is not just our desire, it is a necessity due to the current economic situation in the country and the global economic crisis", said Gakharia.
The first state-owned enterprise to undergo reforms will be Georgian State Electrosystem (GSE), an electricity transmission system operator.
Today we are discussing how the supervisory board should be staffed at this state-owned organisation and it is extremely important that we maintain the highest standards in this process", Gakharia said.
He added that a working group will be established which will be headed by Georgian Finance Minister Ivane Matchavariani.
Enterprise Georgia has expanded its programmes from which investors can benefit. Georgian Economy Minister Natia Turnava stated earlier today that within the programme investors may receive land for symbolic 1 GEL ($ 0.3/€0.25).
Enterprise Georgia has presented Investment Promotion Strategy and Action Plan for 2020-2021 earlier today, which aims to attract foreign direct investments in Georgia and create 3,500 new jobs in the highest paid, perspective fields.
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.
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.
Georgia has become a member of the World Association of Investment Promotion Agencies (WAIPA) through the application of Invest in Georgia, which is run by the country's export support agency Enterprise Georgia.
A new council will be created in Georgia that will develop a state enterprise reform strategy to be implemented in 2021-2024, announces Georgian Prime Minister Irakli Garibashvili. The goal of the reform is to bring the management of state-owned enterprises closer to the highest standards of corporate governance.
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.
Georgian Prime Minister Irakli Garibashvili on Monday announced his Government had approved a four-year strategy for reforming state-owned enterprises with the aim of establishing “appropriate corporate governance”.