Special Adviser of the Prime Minister of Georgia for Foreign Investments will be Vazil Hudak

Published in Economics
Friday, 07 May 2021 16:08

As noted by the Prime Minister of Georgia Irakli Garibashvili, a new plan of economic recovery is required in the difficult situation created by the novel Coronavirus and foreign investments acquire special importance in it. This will be the main duty of his Special Adviser. Mr. Hudak will be actively working towards this end. Namely, Vazil Hudak will focus on the mobilization of foreign public and private support for the New Economic Strategy of the Government of Georgia. He will interact with the European Union (EU), International Monetary Fund (IMF), World Bank, European Bank for Reconstruction and Development (EBRD) and other international financial institutions (IFIs) as well as international businesses, investment funds and banks.

Vazil Hudak will center his efforts on select strategic, priority investment projects and will ensure the engagement of corporate and individual foreign investors.

"Today, I wish to introduce to you my Special Adviser - Mr. Vazil Hudak. He will work on foreign investments to Georgia. You may well be aware that we are working on a New Plan of Economic Recovery in the difficult situation created by the novel Coronavirus. Foreign investments will have a leading role in the future growth and economic development of Georgia. Country needs investments, which means that a quick recovery of the economy will follow. More people will get employed. More income will be generated by our citizens. Hence, we selected Mr. Vazil Hudak for being a great friend of Georgia and for his successful career as a Vice President (VP) of the European Investment Bank (EIB), Ministers of Economy and Finance of Slovakia. Prior to these, he worked at private banks: JP Morgan, Citibank. I wish to tell you that Mr. Hudak knows Georgia very well. He frequently visited our country in the capacity of the Vice President of the European Investment Bank. He knows our economic team pretty well. I also wish to note that Mr. Hudak was appointed as an EU Envoy for SME yesterday. He already held meetings with Ministers of the Economic Team of Georgia. His goal is to mobilize foreign public and private support for our New Economic Strategy. He will focus on the select strategic priority investment projects. For effective performance, he will interact with the EU, IMF, World Bank, EIB, EBRD and other IFIs. Also, he will work with international businesses, investment funds and banks.

Considering our current strategy, we highly value the European policies for SME. It will be implemented with the vision and professional advice of Mr. Hudak. Hence, I wish to once again express my gratitude to Mr. Hudak for accepting this offer and I am convinced that we will jointly reach the results that are now needed for our country" stated Irakli Garibashvili, Prime Minister of Georgia.

As Vazil Hudak noted, he will work as an Envoy of the Prime Minister of Georgia for the development and advancement of the country in support of the Government of Georgia.

"First of all, I feel greatly honored to be back again. Georgia is very close to my heart and as the Prime Minister has noted, I have been to Georgia many times in different capacities. Most recently, I was visiting Tbilisi as a Vice President of the European Investment Bank (EIB). It is among the largest investors in Georgia and Georgian economy. I have a great honor to work for the development of the country - this time as an Envoy of the Prime Minister of Georgia in support of the Government.

We have to operate in a difficult period together. It is true for Europe and globally. It is due to COVID. However, I believe that difficult times present us with opportunities as well. We have an opportunity now to grow and develop in many different directions, create better quality in various areas, attract support from the USA, EU and other countries. We know how to recover the economy through investments, more economic development and advancement. I believe that this is the future of Georgia as well in the EU. The Prime Minister of Georgia already announced that I am an EU Envoy for Small and Medium Enterprises (SME). It is aimed as an endeavor for greater resilience and 50 billion Euros have been allocated for the program. It has 2 main aspects: digitalization and green or environmental initiative to address climate change. These are the future directions of Georgia as well - to become more digital, more modern and greener. I believe that Georgia will thus come closer to Europe and it is the major aspiration of the Government of Georgia too. I met all Ministers of the Economic Team to discuss all challenges faced in the process and studied various needs and challenges. Public funds are not sufficient to meet all these needs and that is why it is so important to mobilize other resources thereby engaging the private sector in the process. That is exactly where I see my role, to help the Government of Georgia in finding ways to mobilize other resources. International support will bring more benefit to the Government of Georgia. I see this goal achieved through the Public-Private Partnerships (PPP) as well, which will benefit the Georgian economy. I indeed have a great honor to serve the country and Georgian people in the capacity of an Adviser of the Prime Minister of Georgia. It is an opportunity for strengthening ties between EU and Georgia. I take this mission very confidently" noted Vazil Hudak upon his appointment.

Vazil Hudak has a long career track record in working for the public and international financial sectors. He is currently Adviser to the Government of the Czech Republic on the Establishment of a National Development Fund. Also, he serves as a Deputy Chairman of GLOBSEC. At various times, Mr. Hudak was a Vice President of the European Investment Bank, Minister of Economy of the Slovak Republic, Deputy Minister of Finance of the Slovak Republic, Vice President of Economic and Financial Committee within the Council of the EU, Chief Negotiator for the EU Budget (SK EU PRES 2016), Chairman of the Board at the Slovak Investment Holding and Slovak Guarantee and Development Bank, Member of the Council of the International Bank for Reconstruction and International Investment Bank, Industry Head of Public Sector for the Central and Eastern Europe at J.P. MORGAN CHASE, Vice President of CITIGROUP, Vice President of the EASTWEST INSTITUTE. Vazil Hudak holds an MA in International Relations and Diplomacy, as well as JUDr in International Law.

Press Service of the Government Administration 

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