Georgian Ministry names economic development priorities
Baku, Azerbaijan, September 5
By Tamilla Mammadova – Trend:
Among the priorities in the field of economic development, Ministry of Economy and Sustainable Development of Georgia named the Grant Program for SMEs, the Loan Guarantee Scheme, Regional Investment Programs and planned measures to improve the investment environment, Trend reports with reference to the ministry.
Minister of Economy Natia Turnava presented the priorities of the Ministry of Economy and Sustainable Development to the Georgian Parliament.
“The grant for SMEs will be increased to 30,000 lari. The terms of preferential co-financing for the mountain and border regions will be applied,” Turnava said.
According to her, this will be a promising loan guarantee scheme, which will facilitate small and medium-sized enterprises access to finance. This mechanism is quite complex, and the ministry has long worked with banks to reach an optimal agreement.
“We are actively developing regional investment programs with the involvement of governors and other industry agencies. The regional investment portfolio will be supported by all the mechanisms at our disposal,” said the minister.
She added that the National Agency for State Property of Georgia is expanding the list of privatization objects.
“The pace of improvement in the investment environment of Georgia has accelerated since January 1, 2019 and 717 auctions were held. Since privatization, up to 65 million lari has been mobilized. The nine-month plan was 112 percent completed, but that’s not enough,” said Turnava.