Sebastian Molineus, Head of the World Bank Representation in the Caucasus Region, spoke about the prospects of Georgia's economic growth in 2021 in the TV program "Analytics".
According to him, Georgia remained attractive for foreign investments in the pre-pandemic period due to the open business climate and free trade agreements, but if the country wants to attract more FDI, it is important to train qualified personnel, as well as maintain infrastructure and political stability.
"It is important that Georgia is focused on attracting foreign direct investment. Looking back over the last 10 years, before the COVID-19 crisis, Georgia had FDI of more than 7% of GDP. FDI, which enters Georgia, promotes job creation and export growth. We are currently reviewing what needs to be done to bring FDI in, namely the business environment, low taxes, and free trade agreements. These are the three areas that Georgia needs to work on and which are critical for investors - political stability, staff qualifications, and physical infrastructure and logistics; Georgia has a lot of work to do in this regard," said Sebastian Molineus.
Recall, in 2020, the FDI in Georgia decreased by 53% and amounted to only $ 617 million.
