Georgian Government to co-op with private sector – Business Association

Georgia Materials 30 November 2021 15:21 (UTC +04:00)
Georgian Government to co-op with private sector – Business Association

BAKU, Azerbaijan, Nov. 30

By Maryana Akhmedova – Trend:

The cooperation between the Government of Georgia and the private sector and the implementation of joint projects is important for the well-being and economic sustainability of the country, the President of the Georgian Business Association, Soso Pkhakadze, said, Trend reports via the press service of the Association.

The issue of private sector investment opportunities, in particular the investment of pension fund assets, was discussed at the meeting between the Georgian Business Association and the Pension Fund Investment Council.

“At this stage, we are fully invested in banks, although we are very intensively considering other means, including capitalization instruments and the primary market. This is what we hope for the most because liquidity in the secondary market is very low. We will look at all the issues and discuss the capital market instruments,” Goga Melikidze, the Chief Investment Officer of the Pension Agency, said.

The discussion also touched upon the level of inflation and the challenges it creates for savings, however, according to the Director of the Pension Agency, Giorgi Danelia, the yields currently exceed inflation.

“Naturally, high inflation is a challenge for the savings as well, but we expect that the inflation rate will start to decrease and we hope that, in the long run, our revenues will be higher than inflation,” Giorgi Danelia said.

“We have carefully studied the offer of the Pension Agency. At the meeting, we discussed the investment of pension fund assets, which is a very important and topical issue. We hope that our members will be interested in participating in this process, which will be mutually beneficial,” Soso Pkhakadze said.


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