Kazakh investments represented in Georgia by various economy areas

Business Materials 15 February 2021 11:31 (UTC +04:00)

BAKU, Azerbaijan, Feb. 15

By Tamilla Mamedova - Trend:

Kazakh investments have started in Georgia since 2006 and its figure, according to the Department of Statistics, is around $240 million, said Giorgi Jakhutashvili, the Honorary Consul of the Republic of Kazakhstan in Georgia, Trend reports via Georgian media.

As he said, there is no alternative to foreign investment for the development of the Georgian economy, and the crisis of 2020 has emphasized this even more.

According to Jakhutashvili, at present, this argument alone is sufficient to assess the role of Kazakh investments in the development of Georgia, however, the inflow of additional funds through various channels is to be considered as well, which in total exceeds half a billion dollars.

"Today, Kazakh capital is represented in Georgia by the bank, port, oil company and airlines, which over the years have brought in many private entities that invested money mainly in real estate or the other medium-sized firms, employed quite a lot of people and want to develop these businesses. All of these represent a resource that, with our support, can be further developed, becoming at the same time a channel for attracting additional investment, as there are potential and resources that are still underutilized. It is very important to be focused on such a market in order to be able to use its potential in our country," he said.

Kazakhstan is one of Georgia's largest economic partners, with a trade turnover of approximately $1.5 billion over the past 10 years, of which more than $800 million was the volume of export from Georgia.

This is quite an effective and important indicator, especially for the countries like Georgia and Kazakhstan.


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