Invest in Georgia — Doing Business – Agressive Privatization Policy

Agressive Privatization Policy Georgia’s new 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 $297 million USD from the privatization process in 2006.

 

Privatization

Source: Ministry of Economic Development of Georgia 

 

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, http://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.

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