A new and critical phase of economic reforms is underway in Georgia. Privatization is a crucial component of this reform process. Recently initiated phase of privatization will play a distinctive role in the economic development of the country.

Privatization process was launched in Georgia in 1992, which had been preceded by enactment of the relevant laws. Over 15.000 enterprises have been privatized to date. Number of the remaining state-owned enterprises and movable/immovable property is quite substantial. There are approximately 1,800 enterprises with state participation with over 180,000 persons employed. Small, medium and strategically important enterprises are among them.

Major trends of the current privatization policy are an expedited transfer of the remaining enterprises into private ownership and a radical deregulation of the economy to mobilize private investments. Starting 2005 Georgia will become one of the most attractive countries both for domestic and international investors in compliance with parameters of the new Tax Code.

This privatization process, which is expected to be maximally impartial and transparent, will be exercised for 18 months. Any legal or physical entity worldwide will be able to take part therein.

Information on privatization of the state-founded limited liability and joint stock companies as well as of the movable/immovable property under the state ownership is provided on this site. Information on all auctions and competitive bids initiated by the Ministry of Economic Development of Georgia will be posted officially as well.

Link: http://www.privatization.ge/spp/eng/