Strong economic growth in Georgia is positive but not sufficient to attract Western investors, according to Beka Bekaia, Chairman of the Supervisory Board of Georgian pet food producer Nutrimax. He said investors primarily need stability, lower risks and a predictable business environment, while Georgia’s small market remains an additional challenge.
Bekaia told BMGTV that European companies take significant time before making investment decisions and place particular importance on predictability and the ability to clearly assess risks. He said Nutrimax had previously planned a €10 million direct investment with a Dutch partner, but the project did not go ahead due to political uncertainty and regional risks.
The planned facility was intended to serve Central Asian markets rather than Georgia, taking advantage of opportunities created by the Russia-Ukraine war and the departure of companies from the Russian market. Despite the cancelled investment, Nutrimax has maintained its partnership with the Dutch company and has begun producing its products in Georgia under the Dutch brand for export to Uzbekistan.
Bekaia said Georgia’s economic growth, rising exports and relatively stable lari are encouraging, but do not outweigh concerns about political and geopolitical uncertainty. “A serious investor needs more predictability and a vision of a stable future,” he said, adding that instability is felt both inside Georgia and across the surrounding region.
