Investors in Georgia released from fines

Photo: Investors in Georgia released from fines / Georgia

Tbilisi, Georgia, Dec.30
By Nana Kirtzkhalia -Trend:

In order to improve the investment climate, Georgian Economy Ministry has decided to release entrepreneurs from fines accrued for non-fulfilment of their obligations. This amounts to about $16 million and 6.5 million lari ($1 = 1.73 lari).

Georgian Economy Minister Giorgi Kvirikashvili said it will enable the resumption of the implementation of more than 50 projects totalling over $360 million.

"In addition an inventory of state property has begun that for many years has been unaccounted. 600 buildings over a total area of five million square metres have already been registered," the minister said.

Translated by M.L.

Edited by S.M.

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