Economy minister highlights Bloomberg ranking Georgia 13th for investor interest among 100 states

Economy minister said on Monday that the Bloomberg Media ranking for investor interest had ranked Georgia among the top 15. Photo: economy ministry press office, 10 Oct 2022 - 17:39, Tbilisi,Georgia

Georgia has been ranked 13th among the United States, Great Britain, China and the world’s major economies in Bloomberg Media’s recent ranking for investor interest, economy minister Levan Davitashvili said on Monday.

Davitashvili highlighted the ranking by a leading international media and analytical group, noting 3,351 heads of leading companies in 15 countries had named Georgia as a “popular destination” for making investments for the index.

The official said the country’s key investment sectors, “sustainable economic situation, access to skilled workforce, government incentives for foreign investors, environmental, social and governance-related questions” had been taken into consideration for the ranking, and added the study showed over 400 leading international investors were considering investing in Georgia in the next three years, while 70 percent of interested investors were optimistic about the country’s economy, which he said was “significantly higher than the global average of 55 percent”.

The study has named the factors which made Georgia attractive for foreign investors. Photo: Nino Alavidze/ 

The study has shown that 44 percent of investors planning to invest in Georgia were ‘well- aware’ of the country's strengths, including Georgia’s strategic location, affordable green energy and a skilled and competitive workforce, which is five percent more available than the global average. Twenty-three percent of them considered up to $100 to 200 million dollars for a separate project”, Davitashvili said. 

The minister also cited the study as saying the country’s “strategic location and the advantages the local authorities had ensured for investors” had led to the entry of such international companies into Georgia as Fortune 500 brands Concentrix, Majorel, EPAM, Viber and Godel Technologies. 

The minister praised the role of the Georgian government, which he said was “working effectively with investors, including within the state Produce in Georgia programme”, and added he hoped the figures would be “translated into real investments in the near future”.