Natia Turnava: Georgia will further advance in reform implementation, which will create business-friendly climate

Minister of Economy and Sustainable Development of Georgia, Natia Turnava, within the framework of the Panel Discussion: Invest2Succeed of the Tbilisi Silk Road Forum, talked about the business-friendly environment in Georgia. As Turnava noted, influential international rating agencies have increased Georgia’s credit rating.

 “In 2019, two leading rating agencies, the Fitch Ratings and the  Standard and Poor’s rating has increased Georgia’s credit rating – they increased the sovereign credit ratings with steadily progressive. Stability is very important and it is a positive message to foreign investors that Georgia will continue to follow the direction of reforms targeted at creating of a favorable business climate,” – the Minister of Economy noted.

Natia Turnava also outlined Georgia’s positions in the World Bank rankings: “In terms of Ease of Doing Business, we have one of the leading positions in the World Bank ranking, but this achievement always needs strengthening, and we continue work under a single window principle in all the areas including the cooperation with the private sector, privatization, issuing the permits and licensees, etc. We can now do business on a single window principle using different digital platforms.”

According to Natia Turnava, the Government of Georgia pays great attention to the development of the small and medium-sized enterprises in order to allow them to introduce a quality assurance system and to satisfy the European standards for small and medium-sized enterprises.

In her speech, the Minister of Economy and Sustainable Development emphasized the importance of the reforms in the field of education. “I would like to emphasize the education reform, which is the basis for long-lasting economic growth. We have an ambition to move forward in terms of knowledge and innovation economic. By 2022, education spendings will reach 6% of GDP,” – Turnava  said.

Ministry of Economy and Sustainable Development of Georgia. 2017 ©