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Georgia has every opportunity to attract foreign investors

Business Materials 10 February 2021 10:30
Georgia has every opportunity to attract foreign investors

BAKU, Azerbaijan, Feb. 10

By Tamilla Mammadova – Trend:

Despite increased competition, Georgia's investment potential has not deteriorated, said Geno Geladze, CEO at Management Company GGM, Trend reports via Georgian media.

As he noted, Turkish, Jewish, American and Dutch investors are negotiating their future investment projects with the GGM management company.

“To maintain foreign investors’ interest towards Georgia, I will distinguish four main factors: strengthening state institutions and creating a stable political environment; An independent court with a high degree of confidence; Intensifying actions on joining the EU and NATO; Rapprochement of Georgian and foreign business associations, chambers of commerce, financial institutions, business-related enterprises, and strengthening of cooperation. The more such news we have, the better,” said Geladze.

According to him, in this regard, it is very good that Georgia has recently joined the World Association of Investment Promotion Agencies (WAIPA).

"One of the main directions of GGM is assisting enterprises or individuals seeking to invest in Georgia. The portfolio of the company incorporates foreign businesses and the management is well aware of their challenges in Georgia," he noted.

According to Geladze, investors from many countries are interested in Georgia, which is due to several main circumstances. The main interest is the location of the country, natural resources, the ability to easily start a business and low taxes.

“We recently spoke with Turkish, Jewish, American and Dutch investors who have projects in Georgia or who want to invest. Despite the COVID-19 pandemic, work on investment projects is ongoing. This can be done online, it takes time, but it is important that the process of developing investment projects in various fields does not delay,” says the CEO of GGM.

Amid the COVID crisis, virtually every country is trying to be more vigilant about the large business groups operating in its country so that they can rebuild their strengths and make new investments. In addition, probably all countries are trying to attract more interested companies operating in other countries to implement projects in their country, he pointed out.

“Recently, the Georgian government has become more active in this regard, and we often see them negotiating with investment groups from different countries and aiming to present the investment potential of the country in a positive way. This is really good,” he added.

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