On August 10, 2011 was held the meeting of the Georgian Government. The agenda included 36 items.
Prime-minister of Georgia Nika Gilauri has talked about privatization procedures before starting of sittings.
Prime-minister's speech is given below:
"I want to greet you. We are discussing legislative changes that are related to privatization procedures. These changes will allow state companies to place their holdings of shares at international exchange houses such as London, New-York, Warsaw and other.
Existing regulation didn't allow us to do it. We want to discuss placement of 15-20-25% shares at London and Warsaw exchange houses with such companies as "Railway", "AES Corporation", "Electosystem" and other state companies. It will allow us to attract great amount of new capital and investments in the country. It will give stimulus to new private companies to make the same and bring money to Georgia from stock exchanges of London, New-York and Warsaw. It will promote increase of employment and economical growth of the state.
At the present moment there isn't quite good situation at international exchange houses. Nevertheless trust in Georgia hasn't decreased. Vise-versa, it has increased and Georgian securities are sold better.
A lot of questions have arisen in connection with economical stability. All macro-economical indicators of Georgia are sound. If ten year loan for Georgia was traded for 7.1%, now it is traded for 6.2%. It means that International investment society evaluates positively Georgian macro-economical stability and has more trust in it."
Prime Minister Press-Service