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30.Oct .2020 13:30

Alliance Group Holding: "Momentum is Lost", up to ten companies refused to invest in Georgia

Alliance Group Holding: "Momentum is Lost", up to ten companies refused to invest in Georgia
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Aiet Kukava, CEO of Alliance Group Holding, says that Georgia lost many investors due to the strict quarantine conditions imposed in the country during the pandemic. According to Aiet Kukava, today strict restrictions do not apply to the business visits, but "the momentum is lost."

As he explains to BM.GE, due to the strict quarantine rules, several companies found it difficult to enter the country and then refused to invest. According to him, the loss in this case is several tens of millions of GEL.

"Government must enable investor to enter the country in a day or 48 hours. Mandatory quarantine dropped their interest towards Georgia. There were investors who waited for 2 months. We had specific projects offered to them; They were interested and then refused, which made our clients very upset.

Now it is possible for an investor to enter the country in a day, but the momentum is lost. In our case, there were about 10 investors who wanted to see hotels and real estate, consider purchasing in terms of tourism. They could buy land and built a hotel complex when the crisis passes, ”said Aiet Kukava, CEO of Alliance Group Holding.