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Georgia expects billion strong investments?2013-03-13 15:23
Volume of foreign direct investment in Georgia will double until late 2013 compared to the previous. This was stated by the Minister of Finance of Georgia Nodar Khaduri. "This year investment volume will increase at least 2 times compared to 2012 - to about $ 2 billion", he said at a news conference in Tbilisi.
According to Khaduri, many investors have already confirmed their willingness to undertake direct investment in Georgia. In his view, investment funds created in Georgia and redistributing risks will also contribute to the flow of investment.
Khaduri also informed that in the second half of last year, the level of investment in Georgia significantly reduced, which was associated with the recent parliamentary election in October, as well as with "political pressure on the business of the former power". He assured that the new Georgian authorities would reduce state intervention in business affairs to the minimum.
Note that the amount of foreign investment in Georgia for 2012 has not been yet fully quantified, but it is known that the largest investors into the country are the companies from the Netherlands, Azerbaijan and China. Major investments by the end of 2012 were made in the processing industry, energy and the financial sector, the RBC reports.
In early March Khaduri met with Director General of Export Credit Insurance Agency of France (Compagnie Francaise d'Assurance pour le Commerce Extérieur - COFACE) Jean-Marc Peel.
"I had an interesting and friendly meeting in the Export Credit Insurance Agency. This organization is a leader in credit insurance, both in Europe and around the world. I gave the Director General of the Agency the information about important reforms in Georgia, including those to improve indicators by which Georgia was behind in the past", said Khaduri.
"There has outlined a good trend for the future cooperation. They have information on macroeconomic indicators of the country, which is very important. They appreciate all the steps of the new government in the direction of economic reforms", said the Minister.
In turn, Jean-Marc Peel noted the importance of the meeting.
"It's a positive signal when the new government is focusing on the positive changes in the economy and is improving our assessments on Georgia. We should note transparency and open environment for business. We welcome the fact that the Georgian government is making efforts to create the appropriate climate for business, which will be an additional incentive to attract investments", he said.