International Investment Forum aims to spark joint projects

Georgia has been described as a politically stable investment destination, efficient with a pro-business and corruption-free Government, a growing market size due to free trade agreements, a solid sovereign balance sheet and more at the International Investment Forum in Tbilisi.

Georgian Government high officials noted these and other advantages of the country at today’s forum, titled ‘Georgia – Regional Hub and Asia’s Gateway to Europe’, which aimed to introduce investment projects to potential business partners.

See the full story on this link: International Investment Forum aims to spark joint global projects

The event mostly focused on the logistics and manufacturing, energy and tourism sectors. Georgia’s Prime Minister Irakli Garibashvili opened today’s business forum and addressed more than 200 delegates representing energy, construction, tourism, finance, food production and engineering industry fields from all over the globe.

In his speech he stated he believed investing in Georgia was as safe as investing in any country in Europe, except that business costs and taxes would be lower.

"If you invest in Georgia there will be fewer regulatory burdens and your returns will be higher,” Garibashvili stressed in his speech to forum participants, who were in Georgia to share their experiences and present investment plans with their Georgian colleagues.

Garibashvili further highlighted that a country like Georgia could have the lowest tax rates in the world and many other business incentives, but investors would not come if there was no rule of law – at least not the investors they want.

 (From Left) John Defterios, CNN's Emerging Markets Editor and anchor of Global Exchange and Georgia’s Prime Minister Irakli Garibashvili at the International Investment Forum in Tbilisi entitled "Regional Hub and Asia’s Gateway to Europe”.

"Georgia is not only open for business but it is safe for business,” he said. Policy and Management Consulting Group’s (PMCG) director Aleksi Aleksishvili, who was one of the organisers of the forum along with the Asian Development Bank (ADB) and the Ministry of Economy and Sustainable Development of Georgia, believed law conditions including tax environment of the country was stable and this supported attracting investors to Georgia.

"In any business climate, stability of the country is the most important issue for the investor.  But stability does not only mean the domestic political situation, it also means the judicial and geopolitical stability,” Aleksishvili said.

"Georgia is not in a peaceful geopolitical condition if we refer to the developments in Ukraine and the Middle East. Thus, it was the role of the Government to give a clear message to investors that Georgia is a stable country.”

Managing partner at Kohl & Partner, Andre Partner, who consulted with the Georgian Government for tourism, shared the same opinion in an interview with Agenda.ge and said investors need stability for investing.  

"Stability is very problematic at present as Ukraine is very close to Georgia and investors sometimes does not know difference and is very scared. Otherwise the political and administration environment is perfect in Georgia,” Partner said.