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International Chamber of Commerce: Georgia’s Direct Investment Inflow Slowed

International Chamber of Commerce: Georgia’s Direct Investment Inflow Slowed

According to the Secretary General of the International Chamber of Commerce (ICC) Zurab Kachkachishvili, weakening of investment activity is the main problem for the Georgian economy.

“Most likely this is due to the political instability, as investors have no clear idea of ​​what awaits them in the next year or two. In such a situation it is difficult to take specific decisions regarding capital investments. Accordingly, the situation in the  market and the business climate in the country is what they  need  to know and it depends on the government  which should have more active communication  with the business,” he said.

He believes that the meetings of representatives of authorities and business are very important, and the creation of the Investors Council under the Prime Minister can play a positive role.

“We cannot say that the Georgian market is not  attractive for  investors. Those who are more risky can enter it today, but that is not enough to attract investors to Georgia. Accordingly, we need more contacts, more consultations, more transparency in the business environment. Exchange of views with business associations will be useful for everyone. I emphasize that our criticism of the government always has a friendly nature and comes from our desire to improve the situation. I cannot agree with the opinion that anyone criticizes  the government without good reason. We believe that the criticism is necessarily, even if it is unpleasant but constructive. It is always good for the authorities,” the head of the Chamber notes.

In his words, the government should always coordinate any decisions relating to entrepreneurs with businessmen.

“Any law that is somehow related to the business should be friendly to it, and should promote or at least not hinder its  development,” he concludes.