BAKU, Azerbaijan, Feb.25
By Tamilla Mammadova – Trend:
A new council will be created in Georgia that will develop a state enterprise reform strategy to be implemented in 2021-2024, said Georgian Prime Minister Irakli Garibashvili, Trend reports via Georgian media.
The goal of the reform is to bring the management of state-owned enterprises closer to the highest standards of corporate governance.
In addition, the reform aims to help the country emerge from the crisis caused by the COVID-19 pandemic and further develop the economy.
Garibashvili said that the International Monetary Fund supports the reform while the partner organizations, including the World Bank and the Asian Development Bank are involved in the process.
"For the successful implementation of this reform, we are creating a Council on State Enterprise Reform, which will develop a strategy for reforming state-owned enterprises, a concrete action plan, and ensure and monitor the implementation of the reform. We believe that state-owned enterprises in Georgia have sufficient potential to play a leading role in the development of certain sectors of the economy. The reform will enable us to improve the efficiency of the state enterprise sector in Georgia," he added.
The first state-owned enterprise to undergo reforms will be Georgian State Electrosystem (GSE), an electricity transmission system operator.
---
Follow the author on Twitter: @Mila61979356