Georgia’s government is aggressively privatizing state-owned property to attract private capital to state owned assets in order to introduce efficient management, increase investment and boost economic growth and jobs creation. The Government of Georgia received $266 million USD from privatization in 2007.
Key features of Georgia’s privatization policy include:
Flexibility – Use of Various Methods of Sale: To promote an efficient privatization process,the Government of Georgia utilizes various methods to privatize state-owned property such as tender, auction, lease-redemption and direct sale.
Transparency – To ensure a high level of fairness and transparency, the Government actively works towards establishing international contracts with interested organizations and potential investors. A special web-site, www.privatization.ge has been created to provide privatization related information.
Fairness – Equal Opportunities for all Potential Buyers - Any Georgian or foreign person or company has the right to take part in the privatization process in compliance with the laws of Georgia.
Investor-initiated privatization: Investors can initiate an expedited, transparent and competitive privatization of particular assets necessary to an investment project.
