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Government Owns 53 Nonoperating Companies

As of 2014, LEPL National Agency of State Property at Ministry of Economy and Sustainable Development owned 451 state-owned companies, while the number has shrunk to 106 ones.

National Agency of State Property told BM.Ge that currently minimization process of additional nonoperating companies are underway at the agency. Today, 53 stat-owned companies operate, while 53 ones have suspended operation.

Over the past years state-owned enterprises were actively moved to private sector, the agency representatives said.

Since 2014 twelve state-owned companies were privatized, including Balneology Resort – JSC Akhtala Resort was sold by electronic auction at 3 760 000 GEL on condition of investing 12 million GEL.

“National Agency of State Property continues active operation on reduction of number of state-owned companies through their minimization and privatization”, the agency officials noted.

As reported, Government of Georgia has assumed obligation to revise the monitoring of state-owned companies.