Tbilisi Mayor attends international conference on financial technologies organised by Georgian National Bank

Kakha Kaladze, the Mayor of Tbilisi and Secretary General of the ruling Georgian Dream party, on Friday attended an international conference on financial technologies organised by the National Bank.

Kaladze attended the conference together with the First Vice Prime Minister of Georgia and Minister of Economy and Sustainable Development Levan Davitashvili, and the President of the National Bank Natia Turnava.

He also addressed the participants of the event.

“I am pleased that our capital city is hosting yet another important event aimed at strengthening the country's economy. The technological infrastructure in Georgia is already quite developed. Particularly notable is the commercial banking sector and the innovations it has introduced, which simplify the daily financial operations of citizens. Our country's geographic location offers the opportunity to combine cultural diversity and ease of doing business within the fintech sector, which, in turn, increases the demand for the introduction of innovative technologies and services. Technology can overcome geographic barriers, increase the speed, security, and transparency of transactions, and offer financial services better tailored to the needs of both local users and tourists”, Kaladze said.

He further explained that since financial services encompass banking, investment, insurance, and other sectors, the development of fintech as an alternative financial system is of great importance in Georgia.

“Fintech is an alternative financial system, and given that financial services cover banking, investment, insurance, and other directions, the development of this field is especially important for us. Creating a favorable investment environment and advancing technologies in such a way that international companies can easily operate in the Georgian market will increase the country’s visibility, attract more investment, and contribute to greater employment and development of citizens. The Tbilisi Municipality, within its capacity, will do everything to support the development of innovative technologies and services. Today, the Tbilisi Municipality leads in accessibility of municipal services in Georgia, but we continue to work every day and implement reforms to achieve even greater success”, he noted.

The event will continue with thematic presentations and panel discussions, where participants will discuss the future of fintech and ways to address existing challenges.

The conference was attended by the Minister of Justice, Paata Salia, Deputy Mayor of Tbilisi, Andria Basilaya, Secretary General of the Municipality of Lugano, Robert Bregy, as well as representatives of the financial sector, state institutions, and international organizations.