Helping Georgian Businesses Cut through Red Tape

June 15, 2010—For Georgia's Alexander Tvalchrelidze, running a business has gotten easier since a new IFC-supported public service center opened in Tbilisi. No long lines and no waiting.

"The service center saves a lot of time and resources," said Tvalchrelidze, who helps run Eurasian Minerals, a mining company. "It took me less than an hour to finish all the bureaucratic issues that used to take several days."

The center is a one-stop shop for business licenses and permits, privatization procedures, state-owned property management, investment, and tourism-related issues. Since its launch in 2009, the center has changed things for over 4,000 Georgian businesses.

By saving time, Georgian entrepreneurs save a lot of money too. A recent survey found that the simplified procedures at the center helped each business save an average of 3.25 percent of profits in 2009, or around $7.2 million in direct and indirect savings for all served businesses.

The center was established by the IFC Georgia Investment Climate Project and the Georgian Ministry of Economy. Improving the business environment is part IFC's strategy in Europe and Central Asia aimed at supporting economic growth and job creation.

The IFC Georgia Investment Climate Project was supported with funds from BP and its oil and gas partners and the Canadian International Development Agency.

For more information contact:
Tamar Barbakadze
Phone: +995 32 23 00 00/01/02