Georgia plans to renovate its Airports Association

Georgia Materials 26 October 2021 17:48 (UTC +04:00)

BAKU, Azerbaijan, Oct. 26

By Maryana Akhmedova – Trend:

The Government of Georgia plans to reform Georgian Airports Association, with the involvement of international financial organizations, Trend reports via Georgian media.

As part of the state-owned enterprises reform, Georgian Government is actively working on a comprehensive reform of state-owned enterprises, the purpose of which is to bring the management of these companies closer to the highest standards of corporate governance.

“Large enterprises, such as the Georgian Airports Association, should be managed properly, and our structure should comply with international corporate governance standards,” Tamar Archuadze, Director of the Georgian Airports Association, said.

The World Bank conducted an analysis of the structure of the department and gave a positive conclusion, Archuladze noted.

The World Bank positively assessed the supervisory board of the Association, its professional staff, and the necessary mechanisms for quality management in the field of aviation security, Archuadze said.

Although Georgian Airports Association was heavily affected by the COVID-19 pandemic, the dynamics of recovery are evident and, according to the updated forecasts for 2023, the upturn is expected to reach 2019 level.

The World Bank, along with the Asian Development Bank, the International Monetary Fund, and the OECD are advising the Government on the reform of state-owned enterprises.

The European-type reform based on the best experience will assist in state-owned enterprises in Georgia to have sufficient potential and to play a leading role in the development of certain sectors of the economy, Georgian Prime Minister Irakli Garibashvili said.


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