Business Association of Georgia met with the Minister of Economy and Sustainable Development of Georgia

22 Feb '17

Representatives of member companies of Business Association of Georgia met with the Minister of Economy and Sustainable Development of Georgia  Giorgi Gakharia at Radisson Blu Iveria hotel on Feberuary 22, 2017.

The main discussion topics at the meeting were the current business environment and government’s plans regarding capital market development and pension reform which is expected to be launched next year.

“In the nearest future we are going to complete the draft law in the direction of pension reform. The World Bank and the Asian Development Bank together with other international financial organisations are involved in this process. From March we are going to start open discussions first of all with business associations and later we will send the draft law to the parliament”, said Mr. Giorgi Gakharia.

Other topics discussed at the meeting where the problems in judicial system related to the case review periods and the competence of the judges  as a whole creating significant problems for the business.

"We have discussed number of topical issues raised by the Minister as well as the businesspersons. This issues covered pension reform, capital markets, etc. We even discussed issues that are out of the direct competence of the Ministry of Economy including business disputes at the Court. However, we find the Ministry of Economy and Sustainable Development to be the state agency closest to the business sector and our main partner as well,” – the President of the Georgia’s Business Association, Giorgi Chirakadze.

As Giorgi Gakharia stated, the Ministry of Economy and Sustainable Development should become a service-provider for the business sector, which will effectively and rapidly solve the obstacles that the business sector faces. 

“For the Ministry of Economy, it is essential to develop business and business environment. It is also important to resolve such structural challenges as trade balance and direct foreign investments. We found these issues to be of outmost importance and I believe that Business Association and the private companies will assist us in solving the problems,” – Gakharia noted. According to the Minister, business is the instrument that contribute in economic growth and creating new workplaces.