In recent years, the country has achieved impressive economic growth, maintained financial stability amidst global challenges, and developed a favorable investment environment, said Natia Turnava, President of the National Bank, during her speech at the opening ceremony of the Tbilisi Financial Summit.
According to her, Georgia has established and maintains a stable macroeconomic environment with near-double-digit economic growth, “which, combined with relatively low inflation, distinguishes Georgia even compared to more developed economies.”
“Today, Georgia is hosting a large-scale international event for the first time—the Tbilisi Financial Summit. I am delighted that the event is attended by high-ranking Georgian government officials, heads of central banks from regional countries, international investors, representatives of financial institutions, and leaders of the fintech industry. This clearly demonstrates the growing international interest in Georgia’s financial sector and our region as a whole.
It is symbolic that the Tbilisi Financial Summit is being held in parallel with the Silk Road International Forum, as Georgia has already established itself as a strong regional hub in trade, transport, and energy sectors, playing a crucial role in connectivity between Europe and Asia. Now, there is both a necessity and the preconditions for Georgia to establish itself as a similarly strong financial hub.
It is noteworthy that one of the co-organizers of the Tbilisi Financial Summit is the Global Financial and Technological Network (GFTN)—a leading international network in the field of financial technology, uniting financial institutions, fintech companies, and investors from Europe and Asia. I am pleased that Georgia is now joining this leading global platform.
Georgia’s appearance on the global financial map is not accidental. In recent years, the country has achieved impressive economic growth, maintained financial stability amidst global challenges, and developed a favorable investment environment. A stable macroeconomic environment has been established and maintained in Georgia, with near-double-digit economic growth, which, combined with relatively low inflation, distinguishes our country even compared to more developed economies,” Turnava stated.
According to Turnava, it is no surprise that over the years, Georgia’s financial industry has been a leader in attracting foreign direct investment compared to other sectors.
“Both regional and global investors are showing increasing interest in investing in Georgia’s financial sector. As a result, several new groups are already entering the Georgian market.
At the same time, it is noteworthy that Georgian banks are also expanding their operations in regional countries. Accordingly, Georgia’s banking sector has become a desirable investor in the region’s economies.
In parallel with the development of the traditional banking sector, Georgia actively supports the growth of the fintech sector. One of the priority directions of the National Bank of Georgia is to promote the development of financial technologies and services in the country. We welcome investors and foreign companies interested in this field; our market is open to them.
To promote the diversification and innovation of financial services, Georgia has created a transparent, flexible, and fintech-tailored regulatory framework. With the support of the Georgian government and parliament, we have introduced licensing for digital banks, established a registration and supervision regime for virtual asset service providers, are developing open banking, and have set up a regulatory laboratory (the so-called ‘sandbox’), where financial market participants can test innovative services and products in a controlled environment with simplified requirements.
Alongside the development of the fintech ecosystem and financial services at the national level, strengthening regional cooperation—particularly in financial technologies, capital markets, and payments—is a priority for us. Our goal is to collaborate with the countries of the Middle Corridor to make Georgia an attractive financial hub, further strengthening our country’s role in connectivity between Europe and Asia.
Today’s event provides a unique opportunity to discuss global trends in financial services, regional initiatives, and collaboration opportunities.
I wish you fruitful discussions and successful cooperation within the framework of the Tbilisi Financial Summit,” Turnava concluded.
Natia Turnava: Appearing on the global financial map is not a coincidence – In recent years, the country has achieved impressive economic growth and maintained financial stability – There is both a necessity and the preconditions for establishing itself as a financial hub
