BAKU, Azerbaijan, Dec.22
By Tamilla Mammadova – Trend:
Georgia has significant reserves of minerals, said the Georgian Minister of Economy Natia Turnava, Trend reports via Georgian media.
She maid the remark during a joint meeting of five parliamentary committees.
According to her, the reform of subsoil use means updating the regulatory framework governing subsoil use, within which it is planned to introduce an integrated licensing system, introduce a modern geological data management system, modernize the tax regime, as well as strengthen the supervisory function and create a risk assessment system.
“Today, our goal is to increase social responsibility towards licensing companies, and we are working with the European Bank for Reconstruction and Development,” she said.
According to Turnava, in 2020, the project of 100 parallel auctions in the subsoil sector was successfully launched, during which 433 licenses for subsoil use were issued.
At this stage, the second stage of the subsoil sector reform is underway in Georgia. The European Bank for Reconstruction and Development provides financial support to Georgia.
Prime Minister Gakharia announced the privatization of mineral resources in early 2020, and a strategy is being developed to promote local production in the field of minerals. The Ministry of Economy, together with the National Bank of Georgia and the team of the Produce in Georgia agency, is working on a special study to identify sectors and industries that are promising in terms of import substitution and need support and development.
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