Economy Minister: pandemic hinders investment in Georgia
During the first half of the year, property worth 75 million lari was sold within the framework of the "100 state property objects" program.
The coronavirus pandemic has hindered the process of attracting investment to Georgia, Georgian Minister of economy and sustainable development Natia Turnava said.
"Of course, the pandemic has hindered many processes related to investment, including the privatization process. Private companies are looking for land and buildings to build a commercial facility, but due to the fact that the economy has shrunk due to the pandemic, the economic process has been reduced and complicated accordingly," Turnava said on Palitra TV.
At the same time, Turnava noted that Georgia is still successfully implementing the project on the privatization of 100 state facilities.
"According for the first half, in the framework of the "100 objects of state property", property sold amounting to 75 million gel and we've already exceeded half of last year," said Tarnawa.
Since the fall of 2019, the project "100 investment proposals for business has been operating in Georgia. It provides for the simultaneous holding of one hundred parallel auctions and the privatization of state property under a simplified procedure.
The list of objects includes real estate: industrial facilities, warehouses and farms, medical institutions, sports infrastructure, hotels, etc.
This decision was made by the authorities in order for businesses to operate it more effectively.
According to preliminary estimates, the volume of foreign direct investment in Georgia in the first quarter of 2020 decreased by 41.7%, compared to preliminary data for the same period in 2019, and amounted to 165.4 million dollars. This figure is the lowest since 2009.
sputnik-georgia.ru
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Economy Minister: pandemic hinders investment in Georgia
During the first half of the year, property worth 75 million lari was sold within the framework of the "100 state property objects" program.
The coronavirus pandemic has hindered the process of attracting investment to Georgia, Georgian Minister of economy and sustainable development Natia Turnava said.
"Of course, the pandemic has hindered many processes related to investment, including the privatization process. Private companies are looking for land and buildings to build a commercial facility, but due to the fact that the economy has shrunk due to the pandemic, the economic process has been reduced and complicated accordingly," Turnava said on Palitra TV.
At the same time, Turnava noted that Georgia is still successfully implementing the project on the privatization of 100 state facilities.
"According for the first half, in the framework of the "100 objects of state property", property sold amounting to 75 million gel and we've already exceeded half of last year," said Tarnawa.
Since the fall of 2019, the project "100 investment proposals for business has been operating in Georgia. It provides for the simultaneous holding of one hundred parallel auctions and the privatization of state property under a simplified procedure.
The list of objects includes real estate: industrial facilities, warehouses and farms, medical institutions, sports infrastructure, hotels, etc.
This decision was made by the authorities in order for businesses to operate it more effectively.
According to preliminary estimates, the volume of foreign direct investment in Georgia in the first quarter of 2020 decreased by 41.7%, compared to preliminary data for the same period in 2019, and amounted to 165.4 million dollars. This figure is the lowest since 2009.
sputnik-georgia.ru
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