Businessman Davit Tsertsvadze declares that banks are not business partners today, because their loan terms insure the risks of financial institutions and harm the business.
Davit Tsertsvadze, the founder of "Mgzavrebi Group" and "Chateau Vartsikhe", names access to finance as one of the important challenges for doing business in the country and says that the bank is the only source of financial resources for the private sector. In addition, he notes, that there is no competitive environment in the Georgian financial sector.
"The National Bank should create a free environment for foreign banks to enter the market. Bank competition means cheaper money for businesses and increased access. The only resource for business is banking products, which are very expensive for us", says Davit Tsertsvadze.
According to the businessman's assessment, the government is less involved in the support of the business, the more it will help the sector.
"What the state should arrange infrastructure, roads, water, natural gas, which are necessary for business operations. Create a simple tax system, specific environment, access to finance, which depends on the availability of banking products. The state should give businesses more freedom to operate with fewer regulations," said Davit Tsertsvadze.
