ICC Georgia Chairman Fady Asly has voiced concern over Georgia’s investment climate, noting that practically no new investments are coming into the country. Speaking on TV-program “Analytics,” he highlighted the $6 billion Eagle Hills project, one of the largest planned investments, while stressing that its exact scale remains to be confirmed.
Asly emphasized that a favorable investment environment requires political will and investor protection. “Current practices, pressuring investors, punishing them via courts, or limiting residence permits, do not contribute to an attractive investment environment,” he said, noting that Eagle Hills is already facing such challenges.
He also warned of social and environmental tensions that large projects often trigger. “I am worried about Eagle Hills, I do not want them to suffer. Large projects naturally touch people and ecology, which can cause public dissatisfaction,” Asly said, adding that Eagle Hills is experienced with such challenges.
The comments follow recent changes at Eagle Hills Georgia, where Irakli Nadareishvili and Tornike Zirakishvili joined the Supervisory Board after amendments allowed state officials to serve. The state now holds 33.33% of the company, alongside founder Mohamed Alabar and other board members.
