Smart City: A Cautionary Note on the Selection of WAGAS GROUP

Smart City: A Cautionary Note on the Selection of WAGAS GROUP
Based on publicly available information, the utmost caution should be exercised before entrusting WAGAS GROUP with the implementation of a project as strategic as a smart city.

Established in 2019, the company has a relatively recent track record. Furthermore, most of the large-scale projects it highlights are difficult to verify through independent sources. In addition, the publicly available information does not make it possible to fully assess its financial strength, operational experience, or proven record in delivering comparable infrastructure projects.

Publicly accessible information also raises questions regarding the company’s operational capacity, particularly with respect to the human resources and technical means required to successfully deliver a project of such magnitude. These aspects deserve the most rigorous verification before any decision is made.

Given the significant financial, technological, and national sovereignty implications of such a project, any contractual commitment should be preceded by comprehensive due diligence, including the verification of audited financial statements, bank guarantees, references for completed projects, sources of financing, as well as independent technical, legal, and financial assessments.

The supreme interest of the State requires that the selection of a strategic partner be based exclusively on objective guarantees of competence, financial soundness, proven experience, and execution capability, in order to safeguard the interests of the Republic and secure an investment that will shape the country’s future for decades to come.