US Congressman Mullin concerned about ‘deteriorating economic climate’ for FDI in Georgia
In his letter Markwayne Mullin shared his "increasing concern regarding Georgia's continued decline from democratic values and the associated decay of its economic prosperity". Photo: Carolyn Kaster/Associated Press
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United States Congressman Markwayne Mullin, who is a member of the House Committee on Energy and Commerce, has sent a letter to Georgian Prime Minister Giorgi Gakharia with concerns about the "deteriorating economic climate" for foreign direct investment (FDI), in particular for US energy companies in the country.
As a Member of the House Committee on Energy and Commerce, I sent this letter to the Georgian PM with concerns about the deteriorating economic climate for foreign direct investment, in particular for US energy companies. Economic Prosperity = Freedom! @TvMtavari @TVSGEORGIA pic.twitter.com/HZ0dSTjbAH
— Markwayne Mullin (@RepMullin) January 16, 2020
In his letter to Gakharia, Mullin shared his "increasing concern regarding Georgia's continued decline from democratic values and the associated decay of its economic prosperity" as well.
With this in mind, I join my colleagues in Congress, who represent the Georgia Caucus, Chairman Adam Kinzinger and Chairman Gerry Connoly, in their recent letter to you of December 13, 2019 that highlighted concern over the decision to forego promised democratic reforms, as well as reports of violence against associated peaceful protests", Congressman Mullin addressed PM Gakharia.
Mullin said, despite Georgia's progress since declaring its independence in 1991, "recent years have revealed a continuous negative trend in democratic and free market economic indicators" that has not gone unnoticed in the US. He also believes that FDI in Georgia "is on the decline" because US and European business interests "have been subjected to harassment and expropriation attack".
The US Congressman further noted that "this deteriorating environment" has resulted in both the House and Senate passing and the US President Donald Trump's signing into law, two consecutive annual appropriation bills for 2019 and 2020 "that have addressed concerns regarding the Georgian government's progressively antagonistic actions against the values, free-market principles and American business interests".
For the first time in Georgia's modern history, your country has been cast in a negative and cautionary light with respect to appropriations from the US government", Congressman Mullin said.
Hoping that Georgia will continue to be "a strategic partner" of the US "for many years to come", Mullin also hoped that the Georgian government "will halt aggressive actions against US companies and act quickly on the increasing warning signs that represent a threat to the democracy and economic prosperity that the Georgian people deserve so much".
US Congressmen Adam Kinzinger and Gerry Connolly have sent a letter to Georgian PM Giorgi Gakharia regarding the ongoing protests in Tbilisi, sparked by the rejection of the ruling Georgian Dream party proposed election bill on November 14. The congressmen stated that since declaring independence in 1991, Georgia has developed a “strong democratic foundation and demonstrated a commitment to democratic values”, including free and fair elections.
US Congressman Eliot Engel, who is also the chair of the Foreign Affairs Committee of the House of Representatives, issued a statement in support of the National Democratic Institute (NDI) and the International Republican Institute (IRI).
The United States Congressmen Adam Kinzinger and Alex Mooney, who are visiting Georgia on November 5-9, met with the Parliament Speaker Archil Talakvadze today. Kinzinger and Mooney reiterated the US support for Georgia, its territorial integrity and sovereignty, as well as the country’s European and Euro-Atlantic aspirations.
US Congressman Adam Kinzinger, who came to Georgia late yesterday to attend the Georgia Defence and Security Conference (GDSC), says that the US Democrats and Republicans have disagreements on various issues but when it concerns Georgia, “we are unanimous.” He spoke about the security challenges coming from Russia during the conference, stating that the US is trying to help the European states “defeat the Russian energy blackmail.”
Georgian Parliament Speaker Archil Talakvadze has responded to a recent open letter published by US Congressman Markwayne Mullin on ‘the deteriorating economic climate’ in Georgia, by saying that Georgia listens to the official statements of the US government. “Top officials of the US State Department and our American partners say that Georgia has irreversible progress in terms of development of democratic institutions."
Congressmen Adam Kinzinger, Gerald Connoly, Eliot Engel and Michael McCaul wrote on January 21 that they are “concerned over the decision to forego promised democratic reforms and the associated violence against peaceful protesters” in Georgia.
United States Congressman Brian Babin, who is a member of the Committee on Science, Space, and Technology, has sent a letter to Georgian Prime Minister Giorgi Gakharia over “delayed reforms and a declining climate for US investment” in the country.
"The idea of American business being oppressed in Georgia is not true”, said Georgian Foreign Minister David Zalkaliani in response to the letter of US congressman Markwayne Mullin sent to Georgian Prime Minister Giorgi Gakharia, where he expressed his concern about the US business interests in Georgia being ‘subjected to harassment and expropriation attack’ naming oil and gas company Frontera Resources from Houston, Texas.
Foreign direct investments (FDI) in Georgia amounted to $616.9 million in 2020, down 52.9% from 2019, show the latest data of the National Statistics Office of Georgia (Geostat). Transferring of ownership from non-resident to the resident units in several companies is considered to be the main reason for the decline of FDI which reduced the value of foreign direct investments by $340.5 million.