Former Economy Minister Giorgi Kobulia says Georgia should revive the idea of appointing economic or investment officers in its embassies if the government truly wants to strengthen efforts to attract foreign direct investment. Speaking to BMG, he noted that similar models are successfully used in countries such as Singapore.
Kobulia argued that the currently announced structural changes, particularly the creation of an “Investment and Export Agency” within the Ministry of Economy, are unlikely to produce significant results. In his view, attracting medium and large-scale investments requires a fundamentally redesigned institutional approach rather than simple restructuring.
He recalled that during his time in government, there was an initiative to appoint investment officers in all embassies, similar to Singapore’s model. He highlighted that Singapore’s investment promotion system involves around 600 specialists, reflecting the scale of effort required to attract capital globally. A comparable system in Georgia, he said, could help connect targeted investors with Georgian opportunities more effectively.
Kobulia also emphasized the need for a stronger domestic institution to manage investor relations and project development, suggesting that this function could be embedded within a broader Economic Development Corporation. He added that the existing “Enterprise Georgia” agency is primarily focused on small and medium-sized businesses and is not suited for large-scale investment attraction.
