12.May .2021 13:00

Govt's Four-Fold Effort Is Needed To Draw Investors - Grant Thornton on FIZ

Govt's Four-Fold Effort Is Needed To Draw Investors - Grant Thornton on FIZ
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Paata Shurghaia, Partner at Grant Thornton in Georgia declares, that the success of a Free Industrial Zone lies in the government's approach and depends on their economic and political measures.

According to him, independent management and the macroeconomic parameters of the country are pre-conditions of the FIZ's success.

"We should determine our own policy measures instead of other regions. These are the consistent and correct steps that the government should take in terms of economic policy in communication with the management of the Free Industrial Zone. Management of the FIZ must have more freedom in order to keep the investors interested. The first important issue when we talk about FIZ is development of its concept and what economic wealth do we want to create. Classification of FIZ is different, for example, there are industrial and commercial type free industrial zones"- said Paata Shurgaia.

According to him, the government's four-fold effort is needed to draw investors, otherwise, investors will not come to the FIZ.

“Investors will not come to the Free Industrial Zone if the government does not arrange infrastructure there in such a way that they can bring, take or process the goods at a high level. Why aren’t FIZ successful? In this case, the government has a greater responsibility, because the government imposes certain obligations on the management of the free industrial zone", Shurgaia explained.