Businessman Kakha Khazaradze, Chairman of the Supervisory Board of ICR Group, has criticized the institutional environment in Georgia following the appointment of Mariam Kvrivishvili as the country’s new Minister of Economy.
Speaking to BMGTV, Khazaradze argued that no matter how qualified a person is, even someone like Bill Gates would be unable to drive meaningful change within the current system.
“Today, if Bill Gates were appointed as the Minister of Economy of Georgia, he would not be able to do anything under such institutions and in such a situation. It’s not only about the professionalism of the person—the main thing is solid institutions,” Khazaradze said.
He added that under present conditions, government reshuffles have little impact, stating that “personnel changes are of the hundredth kind” when the real issue lies in the country’s institutional foundation.
Khazaradze pointed to the lack of an independent judiciary as a core obstacle to economic development and investor confidence.
“There are no institutions in the country—first of all, the court. The volume of investments has fallen significantly, not only foreign, but even Georgian businesses are reluctant to invest,” he said.
He emphasized that long-term investments, especially from foreign entities, require predictability, rule of law, and trust in institutions, not personal connections.
“An investor does not need acquaintances, they need strong institutions. They need to be sure that if their rights are violated, they can seek justice. Right now, even the rights of Georgian citizens are being violated,” he added.
Khazaradze’s comments came a day after Levan Davitashvili was replaced by Mariam Kvrivishvili as Minister of Economy. Davitashvili has since taken on the role of Chief Advisor to Prime Minister Irakli Kobakhidze and Secretary of the Economic Council.
