The Minister of Economy and Sustainable Development of the "GD" government, Mariam Kvrivishvili, says that the write-off of 1 billion GEL in fines for the energy sector is a very important decision by the state. According to the ministry, this measure will allow investors, including small, medium, and large entrepreneurs, to implement energy projects more quickly.
“The decision ensures transparency of the process. Thus, the state is moving towards a completely new approach to cooperation based on responsibility in relation to the private sector,” said Mariam Kvrivishvili regarding Kobakhidze's initiative to write off 1 billion GEL in fines accumulated by companies in the energy sector. The write-off applies to all companies involved in the development of renewable energy projects.
The Minister emphasized that the energy sector holds exceptionally high value and importance for the Georgian economy. Therefore, the state is seeking to remove existing obstacles that could slow down the implementation of energy projects.
Mariam Kvrivishvili also noted that the write-off is carried out with a reservation:
“The reservation provides for the full restoration of the written-off fines in case of non-fulfillment of obligations by investors, as well as the accrual of new penalties related to any unfulfilled obligations. The written-off fines should be fully utilized for the implementation of energy projects, which will accelerate Georgia’s path to energy independence,” the Minister said.
