Georgia’s Minister of Economy Claims Foreign Investor Confidence is Growing

“When we talk about a small country like Georgia, where the dynamics of foreign direct investment is very much dependent on the timeframe for starting or ending a large investment project, it would be most correct and justified to discuss it in the medium-term framework,” says the Minister of Economy and Sustainable Development Natia Turnava.

The Minister said it is important that Georgia's FDI (Foreign Direct Investment) distribution is three times higher than other countries in the area and also a number of Eastern European countries.

"The recent statistics is very heartening- the results of the 3rd quarter of foreign direct investment, which showed that FDI in Georgia is a double-digit figure and more importantly, the volume of reinvested earnings are practically doubled," said Natia Turnava.

According to the Minister of Economy and Sustainable Development, the data presented by her displays that the confidence of foreign investors in the economy of Georgia “is growing.”

The Minister also spoke about the Anaklia Deep Sea project, which is under construction and faces a backlash of switching investors. 

“Georgia needs Anaklia Deep Sea Port project like air” the Minister of Economy and Sustainable Development of Georgia, Natia Turnava stated.

As Turnava underlined, if the Anaklia Development Consortium does not deliver full financing sureties for the port within the given timeframe, the government will confer other possibilities for the project.

“I don’t want to speak prematurely. Let’s wait for the deadline. After that, the government will sit and discuss other possibilities for the project. This project delayed. The investor has been demanding postponement of the project since 2017” Natia Turnava stated.

By Beka Alexishvili