ICR Group is refraining from launching new investment projects in Georgia for now, but the major retail company is continuing its development strategy and is preparing to enter the European market. According to ICR Group Supervisory Board Chairman Kakha Khazaradze, the company is currently conducting research for expansion, though he did not disclose specific details. He noted that the planned entry into Europe will also be focused on the trade sector.
In an interview with BMGTV’s program Tsertili, Khazaradze said that although ICR Group is not currently considering new investment projects in Georgia, it remains open to development opportunities abroad. He explained that the company is exploring other attractive markets and that any future projects are more likely to be implemented outside the country in partnership with strong international partners.
Khazaradze said the company is currently evaluating alternative markets, including in Eastern Europe, and emphasized that growth is essential for a company employing around 1,000 people. According to him, stagnation is not an option, and if business expansion in Georgia is limited, the group must seek opportunities elsewhere to continue its development.
He also explained that the main reason for pausing new investments in Georgia is uncertainty and lack of long-term predictability. Khazaradze said businesses like ICR Group require stable institutions and a clear long-term vision, adding that the current environment makes it difficult to operate confidently. He stressed that only with greater stability and clarity could the company consider expanding investments in sectors such as agriculture, including blueberry plantations, in the future.
