The National Agency of State Property of the Ministry of Economy and Sustainable Development of Georgia has put up for sale 50 agricultural plots with a total surface of 706 hectares within the framework of the “100 Investment Proposals for Business” campaign.
Of the total number of land plots, 4 are located in the Imereti region, 7 – in Samegrelo, 1 – in Guria, 9 – in Shida Kartli, 10 – in Kvemo Kartli, 14 – in Kakheti, 5 – in Mtskheta-Mtianeti. The size of each one is different – starting from 0.9 hectares to several tens of hectares.
The sale of plots is carried out through an electronic auction (https://www.eauction.ge), in separate lots. The auction will last until April 13.
The initial cost of the aforementioned plots is 19.4 million lari ($5.6 million) in total.
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“It is important for us that farms develop, and that the farmer-owner can attract financing, including banking, the opportunity for which is provided by private property, can participate more confidently in state support programs, including those of the Ministry of Agriculture,” – the Minister of Economy and Sustainable Development of Georgia Natia Turnava said during the presentation of the initiative “100 Investment Proposals for Business”.
As Natia Turnava emphasized, “in order for the land plots to be not just an investment, but really work, for investments to be made and jobs to be created, the acquisition of a land plot of more than 3 hectares is accompanied by certain investment obligations.”
Under current legislation of Georgia, the following cannot be buyers of agricultural land on its territory: a citizen of a foreign state, a stateless person, a foreign legal entity, as well as a resident legal entity in which the dominant partner is a citizen of a foreign state or a foreign legal entity.
The “100 Business Investment Proposals” Initiative was launched by the Ministry of Economy and Sustainable Development to support business development amid the Covid-19 pandemic and help create new jobs in the country. The large-scale privatization package prepared within the framework of the initiative includes, in total, about 150 investment-attractive objects, which, in addition to agricultural plots, include enterprises of various profiles, tourist facilities, etc. The total initial cost of this state property, which will be put up for auction, is about 400 million lari ($115.9 million).
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