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Doing business in Georgia

The British-Georgian Chamber of Commerce (BGCC) hosted a seminar titled, “Doing Business in Georgia: A Legal, Commercial, and Political Analysis of the Current Climate.”

The seminar was organized with the help of the Embassy of Georgia in the UK and Ireland and was attended by 35 representatives of the British business and mass media. BGCC actively promotes Georgia on the British market and participates in various annual events.

The Georgian Ambassador to the UK George Badridze, Sophie Biagioli, HSBC manager Banks and securities, Financial Institutions Group, Nika Ghvinadze, representative of Ghvinadze and Partners, and Mako Abashidze, director of the British-Georgian Chamber of Commerce, delivered speeches at the event.

According to Doing Business 2010, Georgia has made a substantial progress and has moved up to 11th place with regard to the ease of doing business. The government sees this as a declaration of “confidence toward Georgia, which significantly increases the perspectives of attraction of investments in the country.”

In his speech, Badridze talked about the successful political and economic reforms carried out by the Georgian government, pointed out results and security measures for corruption extermination, taxation system changes, current investment environment, export market differentiation, privatization, business independence, free industrial zones, international ratings, the banking system and spoke about the freedom act presented by the country’s president. The ambassador also emphasized the economic development and the number of foreign investments in Georgia.

Badridze said that despite the war in 2008 and the global financial crisis, the Georgian economy, the banking, infrastructural and all related systems continued functioning.

Sophie Biagioli talked about the Georgian investment and business environment, business establishment, its management and perspectives. She paid attention to the environment and said that considering the current liberal business environment and low taxes, establishing a business is possible for a short period of time. She also emphasized that bureaucracy is at zero level in the executive departments of the country.

The high qualification of young cadres was discussed (more than 90 percent of the people at HSBC’s Tbilisi office are local). Biagioli also said that despite the August war, electricity and telecommunications were functioning without any interruption and the bank worked without any delay.

“The country has a stable and independent infrastructural system, which is very important for any investor,” she stated.

Abashidze talked about BGCC’s operations, current and future projects. According to BGCC’s and BMI’s joint project, a lot of information about Georgia will be published in the abovementioned air company magazine that will popularize Georgia and raises awareness about the country internationally. Moreover, future plans include the preparation of an hour-long commercial movie about Georgia for the Travel Channel; the movie will be about Isabelle Legeron, a well-known British writer working on wine issues.

Ghvinadze gave information about the establishment of a company, registration and legal aspects.

At the end of the seminar attendees were able to ask questions.

 

Story by Natalie Mchedlishvili

9.04.2010