In an interview with the Ukrainian business daily Ekonomicheskie Izvestia published on May 18, Georgian State Minister for Economic Reforms Kakha Bendukidze said that fears over Russian investments are “over-exaggerated.” “It would have been very strange if Russian capital went to Indonesia, without paying attention to Georgia or Ukraine… I think there is an over-exaggerated fear of Russian capital… The same happens in Estonia, which thinks that it would be better to nationalize the railway, otherwise it might be bought by a Russian company. In reality, the best way of protecting is to maximally open the economy: the more transparent the privatization process is the more chances there are for non-Russian companies to buy facilities,” Bendukidze said. He said that by the next year all the major state-run facilities in Georgia, except the railway, high-voltage power lines, Enguri hydro power plant and trunk gas pipeline, will be privatized. He said shares of the privatization process in Georgia's mid-term budget for 2008-2010 will total 0.1% of GDP. He hailed the ongoing privatization process as a success, but also noted the failure to privatize Chiaturmanganumi, the manganese mining factory. “But I think in two months, Chiaturmanganumi will find an owner,” Bendukidze said. |
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