Georgian PM pitches country’s financial, technology plans to Ripple CEO at World Economic Forum
The Government Administration announced Garibashvili had promoted the favourable market conditions for the development of digital assets in Georgia at the meeting and highlighted the country's "favourable investment environment and strategic location". Photo: PM's press office.
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Georgian Prime Minister Irakli Garibashvili has offered the CEO of Ripple, a United States-based technology company, to consider launching a company service centre in Georgia, with the offer made at a meeting as part of the World Economic Forum in Davos on Monday.
The Government Administration announced Garibashvili had promoted the favourable market conditions for the development of digital assets in Georgia at the meeting and highlighted the country's "favourable investment environment and strategic location".
It was noted that with young, experienced and competitive human capital, Georgia is becoming a global and regional multifunctional hub for financial services, technical and innovative industries. Thanks to its reputation and friendly business environment, Georgia has become a global leader in terms of ease of doing business," the Administration said in its summary of the meeting.
At the meeting Garibashvili also noted his Government had created a draft legal framework for the regulation of virtual assets, with the bill being discussed with various stakeholders before its submission to the Parliament. He said the drafting was expected to be completed by the end of the year.
Great talks w/ @Ripple CEO @bgarlinghouse! Shared ????????'s vision on future of blockchain & regulation. W/ business centric environment & innovative approach, we aim to evolve as a tech & innovations hub. Shared ????????'s story as the 1st country to bring #Blockchain in public services. pic.twitter.com/x6NHoRLqml
— Irakli Garibashvili (@GharibashviliGe) May 23, 2022
The PM also told the company CEO Georgia “successfully” used blockchain technology and was the first country in the world to introduce its use in public services - in particular in the land registration process - with a resulting reduction of operating costs by about 30 percent.
Garibashvili also mentioned his Government’s ongoing talks with the FTX Crypto Derivatives company for opening its regional office in Georgia.
Georgia's European prospects and questions of the country’s European Union membership questionnaire will be discussed in meetings involving Prime Minister Irakli Garibashvili and European leaders at the World Economic Forum in Davos, Foreign Minister Ilia Darchiashvili said on Monday.
Investment environment in Georgia, the current economic processes in the country, dynamics of economic recovery in the post-pandemic period and specific measures planned by the Government were discussed on Monday in a meeting between the Georgian Prime Minister Irakli Garibashvili and Kristalina Georgieva, the Managing Director of the International Monetary Fund.
Revaz Lominadze, the Georgian Ambassador to Switzerland, on Monday said the participation of a delegation from the country at the World Economic Forum in Davos was “extremely important” in light of the political and economic challenges facing the world.
A Georgian delegation led by the country’s Prime Minister Irakli Garibashvili has left for Davos, Switzerland to participate in the World Economic Forum, the Government Administration said on Sunday.
Georgian Economy Minister Levan Davitashvili and Kalyan Kumar, the Head of Ecosystems at HCL Technologies, on Monday discussed a potential launch of a branch of the global technology company in Georgia for supply of information technology products to international markets, the Economy Ministry said.
Georgian Prime Minister Irakli Garibashvili discussed the “high level” of partnership between Georgia and Japan and their successful cooperation in various fields with Akihiko Tanaka, the President of the Japan International Cooperation Agency, at a meeting as part of the World Economic Forum in Davos on Monday.
Georgian Prime Minister Irakli Garibashvili and Amy Weaver, the CEO of American cloud-based software company Salesforce discussed the potential for opening an IT and service delivery centre in Georgia on Monday at the World Economic Forum.
Georgian Prime Minister Irakli Garibashvili and Gautam Adani, the Chairman of an Indian multinational conglomerate Adani Group, discussed how Georgia's "strategic location and favourable investment climate" made the country a "natural hub" and "perfect location" for multinational businesses, the PM said in a post on Twitter following a meeting as part of the World Economic Forum in Davis.
Georgian prime minister Irakli Garibashvili and Changpeng Zhao, the CEO of Binance, the world's largest cryptocurrency exchange, on Wednesday discussed the "stable and favourable" business environment of Georgia and "significant opportunities" offered by the country to investors.
Binance, the world's largest cryptocurrency exchange platform, on Monday announced the opening of a new regional hub in Georgia, saying the operation would aim to acquire talent, “promote blockchain education, and accelerate crypto adoption in the region”.
Tether, the world’s largest issuer of stablecoin, a type of cryptocurrency, will help Georgia develop its blockchain infrastructure following a memorandum of understanding signed on Wednesday between the company and the country’s Ministry of Economy.