Dimitry Kumsishvili: Reforms implemented by Georgian Government led to significant improvement of the investment climate in Georgia

Dimitry Kumsishvili: Reforms implemented by Georgian Government led to significant improvement of the investment climate in Georgia

Dimitry Kumsishvili: Reforms implemented by Georgian Government led to significant improvement of the investment climate in Georgia

The FINANCIAL -- “Reforms implemented by Georgian Government during the last 5 years led to significant improvement of the investment climate in Georgia,” – First Vice Prime Minister of Georgia, the Minister of Economy and Sustainable Development Dimitry Kumsishvili stated at the EBRD and the OECD organized seminar on - Business Integrity: Regional Expert’s Seminar.

As the Minister said, doing business in Georgia became even easier following the limitation of the regulations and establishment of the online services. “The steps taken by the Government created successful and productive environment that is free of corruption and it found the reflection in indicators of the private sector activities and the fight against corruption,” – Dimitri Kumsishvili noted.

First Vice Prime Minister highlighted that Georgia is the least corrupted country in the Eastern European and Central Asia regions, according to Ministry of Economy and Sustainable Development of Georgia.

Dimitri Kumsishvili also emphasized that one of the recommendations of the OECD regarding the Anti-Corruption Network aiming at promoting business is included in the 2017-2018 National Anti-Corruption Action Plan.

First Vice Prime Minister also noted that the Government of Georgia is actively working on the investment climate development, improving competitiveness in the private sector and creating a transparent and fair business environment.

“One of the main directions of the Government’s four-point plan – the Governance Reform aims to increase the involvement of the private sector in the decision-making processes and thus provide more predictable and transparent business environment in Georgia,” – Dmitry Kumsishvili said.

The seminar is held with the support of the European Bank for Reconstruction and Development (EBRD) and the OECD UNDP program.

The goal of the seminar is to raise awareness of the government, business associations and the single companies on importance of improvement of the business environment and ensuring the compliance with the law for small and medium business representatives. Representatives of the public as well as the private sectors of 7 countries – Armenia, Azerbaijan, Belarus, Georgia, Moldova, Ukraine and Turkey – will participate in the seminar and discuss the practical measures that could be implemented in terms of improving the compliance with corporate ethics and law in their country.