Mamuka Bakhtadze, the new Prime Minister, wants to further reduce taxes to attract large international companies. As a result, Georgian companies will be able to develop their sectors even better.
"In 2017, Georgia recorded a historic inflow of Foreign Direct Investment (FDI). This is an excellent result. At the same time, the analysis of the structure of these FDI suggests that high-technology investments should progress as much as possible. We need to do very serious work in that direction. Georgia enjoys a positive international reputation among investors, but we must intensify our efforts to ensure that the ratio of investment in advanced technology increases significantly in total FDI. The high-tech sector performs better than traditional sectors. Therefore, the issue of high-tech investment must become a government priority."
"The experience of economically successful countries, such as Estonia or Finland, proves that foreign high-tech companies play an important role in their economy. We need similar companies. But the main equation to solve would be why a high-tech company would want to enter the small Georgian market. We need to think carefully about this issue and we plan to submit the necessary initiatives to Parliament, in particular by exempting them completely from taxation.".
"I believe that after the implementation of this tax initiative, we will attract new large companies to Georgia and create the right conditions for our startups to establish good relations with them," said Mr Bakhtadze.
The Prime Minister also mentioned other opportunities to increase liquidity and insisted on the contribution of "Business Angels who invest in our economy, is of crucial importance. If we have 250 to 300 successful startups, it will create such an eco-system that it will stimulate the interest of the most famous investors. This will also require strong government action. »
"The government structures of the state itself must fit into this ambitious plan, significantly increasing its purchases of digital solutions, IT services and so on. As a result, liquidity in the market will increase significantly," said the new Prime Minister.
The digital startups in Georgia will have the wind in their sails? To be continued...