We Believe In The Free Market, Not Subsidies – Fady Asly

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27.Jan .2023 18:00

We Believe In The Free Market, Not Subsidies – Fady Asly

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Author:Natia Taktakishvili

The profitability of the ICC Arbitration Court from Georgia will be determined between 6-12 months, - Fady Asly, the chairman of ICC Georgia, told TV-Program Analytics.

According to him, they have the interest to manage the disputes brought to the ICC arbitration court as efficiently as possible.

"We continue to consider this opportunity. We hope to have definitive answers within the next 6-12 months. We have the interest to manage the disputes that will come to the ICC arbitration court not only from Georgia but also from the region as effectively as possible", said Fady Asly.

He also spoke about the state's subsidy policy and said that any business that depends on the subsidy for development is a "fake" business because as soon as the subsidy stops, the business will also stop.

“We believe in the free market - we don't believe in subsidies. Any business that depends on a subsidy for development is a "fake" business, because as soon as the subsidy stops, the business will also stop. The government of Georgia should spend more effort on attracting foreign direct investment in the country, on the real increase of employment and GDP growth per capita so that people do not want to leave the country. In my opinion, this is the beginning of a healthy and stable economy," he says.

Fady Asly ICC