Natia Turnava meets with representatives of Investor Council and Business Associations

By Nika Gamtsemlidze

Wednesday, February 26

The meeting was organized by the Board of Investors

All legal issues such as appraisal, property registration, border clearance and more are also settled in advance

The Minister of Economy and Sustainable Development Natia Turnava met with the representatives of the Investor Council and Business Associations and introduced the existing components and investment offers of the program 100 Investment Offers to Business.

The meeting was organized by the Board of Investors. The meeting was also attended by Maia Zavrashvili, Head of LEPL National Agency of Minerals, Giorgi Dugladze, Head of LEPL National Agency of State Property and Giorgi Cherkezishvili, Head of Investor Secretariat.

Turnava introduced the participants to the new investment project 100 New Investment Proposals for Business, during which the participants in the privatization auctions are offered already prepared investment packages, including the possibility of real estate development under the General Development Plan.

All legal issues such as appraisal, property registration, border clearance and more are also settled in advance. The existing project also added a component of the licenses for extraction of minerals - 100 bids for commercially attractive minerals were selected and put up for auction in various regions of Georgia. The purpose of new investment projects is to promote economic growth, create new jobs and attract new investment.

“We have a lot of initiatives for business and a lot of talk in this regard. The initiative 100 Investment Offers to Business has so far only included privatization of property and has recently been enriched with a subsoil component. We have a lot of news regarding business today, including simplified land access for companies that are committed to not only extract but also process minerals. Our task is to create as much value as possible in Georgia and to employ as many people as possible in Georgia,” said Turnava after the meeting.

PM Gakharia announced the 100 Investment Offers to Business in 2019. As he said, the program would be available for the business sector for privatization that will be offered by the government so that the Georgian business can operate more effectively.

The National Agency of State Property Management launched the privatization of state-owned objects. The project envisages holding 100 parallel auctions and privatizing property through simplified procedures.