19.Jul .2021 14:00

These Events Frighten Investors – Co-founder of Phubber On July 5

These Events Frighten Investors – Co-founder of Phubber On July 5
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"Nobody is interested in investing in Georgia, none of the American investors has the goal to invest here. If we make a top list, Georgia will not be included in the TOP-100," Giorgi Chugoshvili, co-founder of Phubber, told Business Morning.

The co-founder of the company has talked about the developments on July 5 and notes that this story is causing great damage to the business environment of the country, while investors are thinking and scaring.

"It was a very difficult story, with very dire consequences. We, as a country, can continue to live, but the consequences will have a lasting effect on the image of our country.

Even today, it is difficult to convince an investor, because first of all, a large part of foreign investors does not know where Georgia is at all. Further, when you explain, the perception comes that this is a post-Soviet space with corruption and crooked institutions, which has small population with low incomes. Investors prefer to invest in a country, where they can defend their positions. Where justice will be ensured.

Additionally, now they are looking at the developments here and think that this country is in danger. These events frighten investors," said Giorgi Chugoshvili.