Georgian Prime Minister Addresses Global Leaders Debate in Dubai

DUBAI, United Arab Emirates – Georgian Prime Minister Giorgi Kvirikashvili on Monday addressed the plenary session of the annual Global Leaders Debate in Dubai to highlight the country’s progress towards becoming a global leader for foreign investments.

In his address, Kvirikashvili took time to highlight Georgia’s investment prospects as well as the need to continue creating a free, open and transparent business environment in order to continue implementing the Deep and Comprehensive Free Trade Agreement with the EU, a two year-old pact that has significantly increased Georgia’s investment attractiveness.

“Georgia’s foreign direct investment has been growing over the last several years. In 2014, we had more than 80 per cent growth in absolute numbers…USD 1.75 billion. The most important reason for this upward trend is the country’s business friendly policies, our constant campaign to reform government services and strong foreign trade relations based on Georgia’s strategic location.”

Kvirikashvili also noted that Georgia’s low tax rates make the country attractive to foreign investors. According to the World Economic Forum’s ranking, Georgia is ninth worldwide when it comes to countries with the least tax burdens.

The government is in the process of launching a new reform drive aimed at the country's economic development, good governance, education system, infrastructure and regional development.

The new deep see port in Anaklia on the Black Sea coast will soon have the capacity to process 100 million tons of cargo and significantly increase Georgia’s transit potential, according to Kvirikashvili.

Kvirikashvili was also quick to remind the forum that Georgia has recently created an investor council that brings together all international financial
institutions, the European Bank for Reconstruction and Development, the Asian Development Bank and representatives of major business associations.

The three-day Annual Investment Meeting (AIM) of the Global Forum for Investment and Strategic Networking is being held at the Dubai World Trade Center on April 11-13.

The world’s leading academics and experts will showcase information strategies and knowledge on attracting foreign direct investment as well as their vision on innovative activity for the growth and development of the economy.

The event is organized under the patronage of Dubai’s ruler, Sheikh Mohammed Bin Rashid al-Maktoum.

GEORGIA TODAY is a key media partner of the AIM 2016.

By Ana Akhalaia

Edited by Nicholas Waller

11 April 2016 21:41