According to Levan Davitashvili, the optimization of funds in state-owned enterprises was achieved, among other things, through staff reductions

The Minister of Economy and Sustainable Development and Vice Prime Minister, Levan Davitashvili, explained that the optimization of funds in state-owned enterprises was achieved, among other things, through staff reductions. He made this statement to journalists following the government meeting.

“Yes, the reduction in expenses was due to staff cuts and certain savings, which will be used for other purposes within the state budget. However, our long-term goal is the full-scale reform of state-owned enterprises, a process we began in recent years. The state has a management strategy for state-owned enterprises, which was developed together with our international partners.

During the implementation of this strategy, we have made findings that call for certain adjustments, which may now be reflected in comprehensive legislation. The next step, as the Prime Minister also noted, is to enshrine at the legislative level the principles that we have already tested in practice. This involves increasing the efficiency of state-owned enterprise management, enhancing transparency, and ensuring greater professionalism.

Ultimately, this will lead to improved efficiency and the introduction of performance indicators: clear accountability from leadership and the appointment of professional management in state-owned enterprises — which, in turn, will make them more competitive. All of this is critically important for the economy. You know this concerns individual LLCs in which the state holds shares, as well as large corporations that play an important role in various sectors. This reform is very important, and the country will continue implementing it,” said Levan Davitashvili.