Newspaper "FINANCIAL" publishes interviews with Victor Kipiani, Partner MKD and Glenn Kolleeny, Partner SALANS about Analyzing Risks in the Region
May 31, 2010
"Georgia has made tremendous progress in its legal system becoming more modern and business promoting system, making it easier for companies to do business in the country by entering the Georgia market, paying taxes, and registering property," said Glenn S.Kolleeny, Partner at Salans, an international law firm. Glen visited Georgia last week, sharing his experience with Georgian partner company Mgaloblishvili Kipiani Dzidziguri (MKD).
"There are special steps put forward in the development of capital markets in Georgia. At the same time, the degree of government interference in financial market relationships, is minimum and tnat helps business units to develop new products and promote the market", said Victor Kipiani, Partner at Mgaloblishvili Kipiani Dzidziguri (MKD).
The Mgaloblishvili Kipiani Dzidziguri (MKD) law firm based in Tbilisi in cooperation with Salans, the large international law firm, organized a seminar focusing on various Georgian law issues as well as those in neighbour countries, including Armenia, Azerbaijan and Ukraine.The seminar covered the managing of political risks in Georgia, the legislation and reforms in Caucasus Area, as well as political and business environment in Ukraine.
"This is the first such type of seminar conducted throughout the region, serving the meeting of lawyers from different countries including the international law firm Salans, several of its law offices in Saint Petersburg, Kiev, Baku, and our colleages from Armenia.
This meeting has several points – firstly, we believe we will contribute to development of legal practice in Georgia and, secondly, that modern business does not recognize border limitations, consequently, the co-operation of legal professions in different countries is important for supporting the free movement of capital, people and goods to facilitate domestic and international business becoming more result-oriented and profitable,” said Victor Kipiani.
The seminar will really try to get people to realize that business has no borders , it has no nationalities, and this region will be successful when it is able to master the power of all of the entire market of the region, each of the three markets are otherwise too small,” Kolleeny said.
He believes that Georgian legal system is more progressive and more liberalized system compared to neighbour countries Azerbaijan and Armenia.
Azerbaijan has followed Georgia’s example in reducing barriers of entry, but still has lot of problems in the areas of import/export of goods, customs, and corruption. According to the World Bank Azerbaijan is one of the corrupted countries in the world”.
On the Armenian side the liberalization of the legal system has not gone as far as it has in Georgia and Azerbaijan, but I think this is unavoidable. The changes that have been made in Georgia will sooner or later happen in the rest of the region otherwise those countries would not be able to compete. This is the progressive influence which Georgia has had which you could almost see in the way that Azerbaijan is reforming its law,” he said.
"Ukraine has recently had very major change in the Government, a lot of the changes are still being made, nevertheless I think some of the unusual and distractive changes in low related finance have been lifted so some of this provisions that Ukraine has instituted are very strange ones”.
"There have been some positive movements but we really need another six months to a year to see what happens in Ukraine,” Kolleeny declared.
Mgaloblishvili Kipiani Dzidziguri, foundede in 1996, is a full service law firm. With local, national and international clients, the company serves as the legal counsel to major world-known and leading local companies by providing legal support in the course of investment, infrastructure, trade and commercial activities in the region.