Georgia needs investments for faster economic recovery - PM
BAKU, Azerbaijan, May 7
By Tamilla Mammadova – Trend:
Georgia needs investments, which means faster recovery of the economy, more employment, more income for our citizens, Prime Minister Irakli Garibashvili declared, Trend reports via Georgian media.
He made the remark during presenting former Vice-President of the European Investment Bank, Vazil Hudak, as Special Advisor for Investments.
"As you know, we are working on a plan to restore the economy in a difficult situation caused by the coronavirus. In this plan, of course, foreign direct investment (FDI) will play a leading role in the future economic development of Georgia. The country needs investments, which means faster recovery of the economy, more employment, more income for our citizens," he noted.
Garibashvili said Hudak is well acquainted with the Georgian economic team and would help with the plan to restore the COVID-19 pandemic-hit economy in the country rapidly.
According to preliminary data, the volume of FDIs in Georgia amounted to $616.9 million in 2020, which is down by 52.9 percent compared to 2019.
Follow the author on Twitter: @Mila61979356