Irakli Garibashvili, Georgian prime minister, has asked the CEO of Ripple, a US-based technology business, to consider establishing a company service centre in Georgia during a discussion at the World Economic Forum in Davos on Monday.
According to the Government Administration, Garibashvili encouraged favourable market conditions for the development of digital assets in Georgia at the meeting and emphasised Georgia’s “favourable investment climate and strategic location.”
The Georgian administration commented the following:
“Georgia is becoming a worldwide and regional multifunctional centre for financial services, technological, and innovative sectors thanks to its young, experienced, and competitive human resources. Georgia has become a global leader in terms of ease of doing business thanks to its reputation and favourable business environment.”
Garibashvili also mentioned at the meeting that his government had produced a draft legal framework for the regulation of virtual assets, which was being discussed with various parties before being submitted to Parliament. He stated that the drafting would be finished by the end of the year.
The Prime Minister tweeted the following:
Georgia “successfully” implemented blockchain technology, according to the PM, and was the first country in the world to do so in public services, particularly in the land registration process, resulting in a 30 percent reduction in operating expenses.
Garibashvili also claimed that his government is in talks with FTX Crypto Derivatives about establishing a regional office in Georgia.
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