Sebastian Molineus, World Bank Regional Director for the South Caucasus spoke about the investment climate of Georgia. According to him, Georgia's number one challenge for attracting new investments today is the rule of law.
Sebastian Molineus also focuses on the need to improve the infrastructure in Georgia and the shortage of qualified personnel.
"Here I would like to recall the investor survey, which the World Bank and other international financial institutions regularly conduct. Interviews are conducted around the world and show what are the main challenges and opportunities for investors. In the case of Georgia, the first challenge they mention is the rule of law. The second is a strong infrastructure: the situation in Georgia is normal in this respect, although it is incomplete and this is understandable, because the development of infrastructure is very difficult and expensive. Georgia also has the Poti Port, which is operational - and finally, and I'm sorry to repeat this, skilled laborforce is important for investors. The majority of investors do not have access to a professional workforce, and this also stops investors from coming to Georgia and getting the benefits they expect from investing in this country," said Sebastian Molineus.
