Georgia’s planned “Economic Development Corporation” will be fully included in the ongoing state-owned enterprise reform, Finance Minister Lasha Khutsishvili said in an interview with BMG.
According to the minister, the new entity, set to be created through the merger of the Georgian Development Fund and the “Enterprise Georgia” agency, will be treated as a state enterprise and placed under full financial oversight and reform mechanisms.
Khutsishvili explained that the corporation’s funding will come from the budget of “Enterprise Georgia” as well as consolidated financial flows from all merged institutions. He said this will create a substantial resource base for launching investment projects at an early stage.
The minister added that consolidating these structures under one umbrella is expected to improve efficiency, while ensuring the new corporation is subject to the same governance, ownership, and financial control standards as other state-owned enterprises.
