IBTCI was selected to conduct a comprehensive review of the Georgian transportation and telecommunications sectors, evaluated its privatization potential, and recommended an initial strategy for the privatization of viable transportation enterprises. IBTCI’s privatization strategy within the transportation sector involved assessing the business environment of the Poti Port, the largest sea port within Georgia, developing market projections, conducting operations and capacity analyses, analyzing the financial viability of the Port, and developing a labor restructuring plan. Legal and regulatory framework was also analyzed and a series of recommendations for new or amended legislation was proposed to provide an enabling legal environment for the privatization.
IBTCI also provided privatization assistance to the government of Georgia for the telecommunications sector in three implementation-focused phases. In phase I, IBTCI conducted assessments to determine the readiness of the telecom sector for privatization. In phase II, IBTCI completed the development of privatization strategies for the telecommunications sector such that would best achieve the Georgian Government’s objectives. In this regard, IBTCI reviewed and revised necessary laws and norms/regulations, assisted in establishing a telecom competition policy and regulatory structure, and educated government officials and media on the privatization strategy, its rationale and anticipated benefits. In the final phase, IBTCI supported the Ministry of State Property Management (MSPM) and the Georgian Telecommunications Commission in establishing the tender panel and selecting the investment bank to conduct the tender, assist in developing the terms of the tender, monitor the investment bank during the tender, and reviewing proposed terms and conditions of sale and contracts/documentation to assure conformity with the government of Georgia.