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Gov’t plans decriminalization of economic crime

By Tea Mariamidze
Tuesday, January 19
The Prime Minister of Georgia, Giorgi Kvirikashvili, has presented his plan to develop the national economy to representatives of the business sector.

The meeting was held at the government’s headquarters, and it was attended by representatives of the business and banking sectors.

Kvirikashvili introduced his development plan which consists of four main directions: the promotion of economic development, involvement reform, regional development and educational reforms.

“The main aim of this meeting is communication with the business sector and the engagement of businessmen in the decision-making process. I want to thank you for what you are doing for our country and I am very interested in your opinions about our strategies, and long-term and short-term goals,” the PM addressed the businessmen.

According to the Prime Minister, the promotion of economic development involves the creation of new jobs and the liberalization of taxes following the Estonian model, which was introduced by the PM on January 15. The model dictates that income tax is only paid in the event of profit-sharing. If the money is re-invested, companies will not pay income tax.

“Moreover, it is very important that we decriminalize economic crime in order to avoid unjust the imprisonment of investors. In addition, the regulation of financial police activities is necessary,” stated Kvirikashvili.

The PM also noted that the second direction – which concerns reforms – will require the significant involvement of the national youth and business representatives.

“The second part concerns transparency reforms, which will require your maximum involvement in the decision-making process of the government,” the PM told the businessmen.

According to Kvirikashvili, the third direction - regional development - is one of the main components of his plan. He explained that the situation in the regions is different and regional infrastructural projects have to be accelerated.

The final stage of the PM’s plan concerns the development of the educational system. Kvirikashvili believes that vocational education should be developed and expanded in the country.

“We have to raise the quality of education in secondary schools and also carry out higher education fundamental reform, which will be based on the dynamic study of the requirements in the country, not only in an economic sense, but with other specialties in order to spend government resources properly,” stated PM.

The Minister of Economics and Sustainable Development, Dimitry Kumsishvili, said after the meeting that the government will consider all initiatives from the business sector, then make decisions and discuss them at future meetings with the business community.