Neil Farquhar, the Deputy Chair of Global Finance and Technology Network, a not-for-profit organisation established by the Monetary Authority of Singapore, on Wednesday drew parallels between Georgia’s economic development and Singapore’s growth over the past five decades, saying that Georgia’s economic success story should be shared more widely with the world.

“I see many similarities between Singapore’s economic growth over the past 50 years and the processes currently taking place in Georgia”, he said. 

In his remarks following a meeting with the Georgian Prime Minister Irakli Kobakhidze in Singapore, Farquhar noted that smaller countries are often more relevant and dynamic than larger nations.

“In my view, what the Prime Minister said, and what was further elaborated by the Economy Minister and his deputy, was an excellent description of the progress Georgia has achieved over the past several years”, he said.

The Deputy Chair further added that many people in Southeast Asia were not familiar with Georgia’s successful economic growth story. 

“Therefore, my recommendation is that this story of economic success, the celebration of talent, and the country’s relevance should be shared more widely and explained in greater detail, especially to the international community and, even more importantly, in Southeast Asia - in Singapore and across the rest of Asia. This is truly an amazing story!” Farquhar noted.

“As I already mentioned during the meeting, I see many similarities between Singapore’s economic growth over the past 50 years and the developments currently taking place in Georgia. These smaller countries are much more relevant than larger ones. Therefore, opportunities for talent development, as well as dialogue between cultures and knowledge sharing between our countries, are truly remarkable”, he concluded.