Establishing Free Industrial Zones (FIZ) in Georgia started with the past government, which trusted that these zones would assume a significant job in the improvement of the nation’s economy and lead to some sort of ‘financial supernatural occurrence’. In 2009, the Kutaisi and Poti FIZs were set up. In any case, by 2011-2012, individuals from the administration straightforwardly proclaimed that the FIZs were bombed ventures. In spite of the past disappointments, the present government is likewise sticking its expectations on the achievement of Free Industrial Zones.
Delegates of both the current and the past governments have misrepresented assumptions about the effect of Free Trade Zone Poti on the economy. Free mechanical Zones are a piece of the nation’s domain and economy; they create in extent to the economy. Notwithstanding, having a profitable expense framework isn’t sufficient to draw in financial specialists. It is urgent to have a stable monetary and world of politics. Additionally, there are a huge number of effective FIZs on the planet, incorporating into neighboring Turkey, which makes rivalry much harder.
A Free Industrial Zone is one sort of Free Economic Zone. The primary fascination of a FIZ is that it offers charge concessions on the domain of Free Industrial Zones. Uncommon financial zones quicken monetary development. Be that as it may, before FIZs can give any substantial effect, they require legitimate improvement. FIZs are flourishing in created nations that as of now have huge economies.
Unique financial zones are especially effective in China (Hong-Kong, Shanghai) and the Unites Arab Emirates (Dubai), assuming real jobs in the advancement of these economies. Simultaneously, there are numerous instances of fizzled FIZs, especially in creating nations.
The Law of Georgia on Free Industrial Zones was passed in 2007
A free modern zone might be set up on any domain surpassing 10 hectares, with the exception of ensured regions as characterized by Georgia enactment. A FIZ can be built up at the activity of the legislature of Georgia or in line with a characteristic or legitimate individual – a coordinator. Be that as it may, an official conclusion with respect to the foundation of a FIZ is made by the administration.