Dimitry Kumsishvili Introduced Georgia’s Economic Reforms to the International Investors Group



Dimistry Kumsishvili, First Deputy Prime Minister and Minister of Finance of Georgia, discussed Georgia’s economic conditions and ongoing reforms with the representatives of “TBC Bank’s” largest international investor companies.

At the meeting, held at the Ministry of Finance, special attention was paid to the progress of government’s four-point plan and the reforms to be implemented within its framework. According to Kumsishvili, government’s four-point plan is aimed towards developing business as the main driving force of the economic growth, to maximize the use of the potential of human resources during the process of country’s progress and the rapid development of infrastructure.

According to Kumsishvili, Georgia has carried out extremely important change in the form of profit tax reform in order to speed up economic growth and private investment incentives, allowing private sector to re-invest and create additional jobs instead of paying tax profits. Dimitry Kumsishvili also stressed his attention on other reforms supporting economic growth, including the development of pension systems and capital market, activation of the deposit insurance system, creation of public-private cooperation framework document, state investment and financial management reforms and other topics. According to his assessment, after the implementation of all these structural reforms, country’s financial stability will increase, which in turn will increase Georgia’s business friendly environment attractiveness.

First Vice Prime Minster Dimitry Kumsishvili also spoke about Georgia’s economic indicators which stand out by significant growth dynamics after 2017. According to him, this year the country's economy had a good start, which is displayed in ncreased gross domestic product indicator - 4.8% of January-February. According to Kumsishvili, fiscal policy and structural reforms, provided within the scope of the government’s four-point plan are effective and oriented on economic growth which in turn will be reflected in employment growth and high levels of investment.

At the meeting, international investors expressed their interest towards individual sectors of the Georgian economy, including, finances, agriculture, transport, logistics and other topics. They positively rated ongoing processes of the Georgian economy as well, and noted, that Georgia’s business environment creates more favorable conditions for investment.

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