The Meeting of the Government of Georgia was held on 27 March 2008. The agenda of the Meeting consisted of 31 items.
At the commencement of the Meeting, Prime Minister of Georgia Vladimer Gurgenidze informed the audience that the first quarter of 2008 had proved most successful in terms of raising investments. He said: in particular, our companies raised over 500 000 US dollars in investments. It is particularly pleasing that the investment capital will apply to a number of sectors such as real estate, banking sector, transport infrastructure, articles of daily consumption, etc. A number of major international investors have invested in our country for the first time. They have purchased a variety of plants and certain infrastructure assets. Three new banking licenses have been issued in this quarter. Besides, one major eastern group has purchased another Georgian bank, and leading Georgian banks have drawn over $200 million share capital through loans. Despite the fact that the there has been a grim financial situation in the world for the last few months, our companies and banks have proved successful in raising funds.
The Prime Minister of Georgia expressed satisfaction with the performance of the Ministry of Economic Development and other agencies, saying: in the first quarter, the privatization proceeds from the sale of small facilities only amounted to 36 million US dollars. As far as large facilities are concerned, the contracts for over 200 million US dollars were signed and a number of buyers have already started paying the money. And all of this in addition to the 500 million that I have told you about here, the Prime Minister said. I'd like to congratulate all the Georgian companies and businessmen that have brokered a deal with foreign investors and have raised investments in this period. I'd like to wish success to all the international investors, who came in our country for the first time or who has been doing business here for years and invested additional capital in our economy.
Besides, I'd like to express thanks to our people for the fact that despite such successful investment background, of course we understand that there is still much to do and we are working tirelessly to that end. Each million dollar invested in Georgia means at least 50 new jobs. It is very important that investments are made not only in Tbilisi and not only into banks but also many other parts of the country. The indicators that the country has achieved in terms of economic growth is a clear sign for foreign investors that now is the right time to invest in Georgia that, of course, calls for a stable situation, stable climate and peace.
Organizational Department of the Chancellery of the Government of Georgia