...

Georgia Hualing FIZ to keep lowering operational costs for businesses

Business Materials 22 January 2021 09:08
Georgia Hualing FIZ  to keep lowering operational costs for businesses

BAKU, Azerbaijan, Jan. 22

By Tamilla Mammadova – Trend:

Georgia is a small open economy, which means that whoever enters our country is more oriented on producing and exporting, rather than focusing on the local market, Head of Finance & Analytics at FIZ Vakhtang Chkareuli told Trend.

"So, as he noted, in many cases, investors prefer to set up at the places, where the consumer market is large enough.

"Consequently, we have no other way but to keep lowering operational costs for businesses through taxation and reducing regulations. On the other hand, political instability throughout the region is another obstacle," Chkareuli said.

According to him, though, the labor force is available, still there are problems with their qualification. In this regard, a very beneficial and fruitful tool is provided by the Government of Georgia, I mean various funding opportunities for the companies to retrain employees and upgrade their qualifications.

"Finally, I believe that Georgia has to keep its institutional development in the direction of judicial effectiveness, property rights, and government integrity. There is a large room for improvement left over there," he added.

Hualing Free Industrial Zone (Hualing Kutaisi FIZ) is the manufacturing and trading zone in Kutaisi, Georgia offering companies 100 percent tax-free operations.

Free Zone covers the territory of 36 hectares and it is located in Kutaisi – the second-largest populated city of Georgia, on the territory, owned by the company. Considering its low proximity to Kutaisi International Airport (19 km), Port of Poti (95 km), and the highway connecting to the capital Tbilisi (210 km), Hualing Kutaisi Free Industrial Zone represents an important trading and industrial hub within the country and the region.

---

Follow the author on Twitter: @Mila61979356

Tags:
Latest

Latest