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Georgia starting to reform state-owned enterprises

Business Materials 28 January 2021 15:49
Georgia starting to reform state-owned enterprises

BAKU, Azerbaijan, Jan. 28

By Tamilla Mammadova – Trend:

The government of Georgia is starting to reform state-owned enterprises, said Georgian Prime Minister Giorgi Gakharia, Trend reports via Georgian media.

He made the remark at a government meeting, adding that this will be an extremely important process during the economic life of Georgia in 2021-2024.

"The goal that we set while reforming the state-owned enterprises is to bring their management closer to the highest standards of corporate governance. This is not just our desire, it is a necessity due to the current economic situation in the country and the global economic crisis", said Gakharia.

The first state-owned enterprise to undergo reforms will be Georgian State Electrosystem (GSE), an electricity transmission system operator.

"We are discussing how the supervisory board should be staffed at this state-owned organization and it is extremely important that we maintain the highest standards in this process", Gakharia said.

He added that a working group will be established which will be headed by Georgian Finance Minister Ivane Matchavariani.

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