Georgia should be more active in attracting investors – President of Georgian Chamber of Commerce and Industry

TBILISI(BPI)- President of Georgian Chamber of Commerce and Industry Giorgi Pertaia believes the government’s investment and privatization policies must be  revised saying  a small country such as Georgia should be more active in attracting investors.

 

In Pertaia’s words, the state should be much more active in positioning itself in the international arena as a country successfully containing coronavirus  and one of the safest countries in the world  for COVID19.

 

The Chamber President says that after the coronavirus is successfully overcome, the country’s investment potential has grown significantly.

 

“Investor approaches have changed as before  when deciding on investing in any country, the business was guided by such criteria as tax policy, external risks, labor force, etc. Now the situation has changed, and epidemiological safety has been added to other factors, ” George Pertaia explains.

 

In his opinion, this is a reason why Georgia should speak to the whole world as loudly as possible about its advantage in fight against coronavirus.

 

As for the privatization policy, according to the head of the Chamber of Commerce and Industry, certain projects should be transferred to private ownership free of charge, but at the same time subject to the mandatory fulfillment of clearly established investment obligations.

 

Commenting on the government’s privatization policy, Pertaia believes that  some  projects should be transferred to private ownership free of charge, but the companies should be subject to the mandatory fulfillment of clearly established investment obligations.

 

“In the long run, it will bring much more benefits than a one-time payment of the value of the object. The state must strictly control the fulfillment of  investment obligations, otherwise there is a serious risk that they will remain unfulfilled, ” Giorgi Pertaia notes.

 

He adds that  the state should have individual approach to each investor, taking into account his investment proposal.

 

“Georgia has its advantages, but still we have to compete with countries that have been attracting investors for decades, are actively working in foreign markets and are capable  in attracting capital. Despite Georgia’s safety for COVID-19, this is a very difficult and laborious task, ” Giorgi Pertaia stresses.

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