01.Nov .2021 14:30

What Are The Main Challenges For Economic Development? - GDBA

What Are The Main Challenges For Economic Development? - GDBA
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Iva Chkonia, President of the Georgian Distributors' Business Association names the main challenges for the economic development.

"If we do not take care of local production, it always will be one of the main challenges for the economy. I do not mean only products, which are produced in Georgia, it also includes agriculture. We have great potential, as the country can get a large income from the agriculture sector and not depend on imported products.

The second determining factor is foreign investments. The inflow of investments is sharply down in recent years. This will remain so because the first thing our European and American partners tell us is the challenge in a judicial system, which is totally damaged. It is unfortunate, but in today’s reality, the judiciary plays a crucial role in the development of the country, which is a serious brake.

I can tell you that there are business processes, which trial can be held within an hour, but there are some business processes, which court hearing are held after a year of filing a lawsuit", - explains the President of Georgian Distributors' Business Association.