New Government privatisation plans

The Ministry of Economic Development is planning to establish a new privatisation policy. This was announced at an Anti-Crisis Council session by Deputy Minister of Economy Grigol Gobejishvili on November 26.

Gobejishvili criticised the 2009 privatisation policy. He stated that GEL 76 million should have been added to the budget through privatisations in 2009 but only 10 million GEL had been. He informed the Council that the new 2010 policy will include establishing a special list of State-owned real estate, as about 1,500 such properties exist. After this list has been compiled all strategically important objects and objects attractive for investors will be identified and auctioned by the Ministry itself. The less important properties on the list will be auctioned off by local governments according to their needs with the money received from these sales mainly going to local budgets.

The list of real estate which can be sold will be ready by January next year.