"There is no stable business environment in Georgia that encourages Georgian investors to invest USD 100 million," Natia Turnava, the Minister of Economy, said yesterday.
The statement was criticized by the private sector, which said that business in the country today faces many problems or challenges.
Sandro Chumburidze, head of EU-Georgia Business Council, says that after the Namakhvani or Anaklia port projects, it is inconceivable that an investor in the country would risk investing USD 100 million.
According to Chumburidze, until there is no stable political and economic environment in the country, as well as judicial reform, is not implemented and we do not have an investment plan, it will be difficult to interest investors.
"After the Namakhvani and Anaklia port project, how can I talk to an investor about investing USD 100 million? As for me, I would accept a 100 million investor on the board with great pleasure. I would like such investors to appear, but if the country failed to hold transparent elections, which contributes to the political situation in the country, which in turn contributes to the stability of the economy if they also failed to reform the judiciary, can you directly attract investors in these conditions? If the interests of foreign investors are not protected in the country, how should the interests of local businesses be protected? When you promise a strategic partner investor to go to arbitration and this company is well-known and working on energy projects to which our country is tied, consider that no investor will consider a serious investment in our country," said Sandro Chumburidze, head of the EU-Georgia Business Council.
