Expert: Georgia needs Western investment and not Asian
Share of Western capital in direct foreign investments into the economy of Sakartvelo over the period of first quarter of 2011 appeared negligible. According to "Business-Georgia", this information was announced to reporters by the president of the Association of young businessmen and financiers of Georgia Merab Janiashvili. According to him, the bulk of investment came from Cyprus and the Virgin Islands, which are offshore territory, as well as Russia and Asia.
"In my opinion, if we strive to the west, western capitals are more acceptable, but not Asian or capital from offshore territory" - said Janiashvili. He added that the investments were located mainly in the financial sector and real estate.
"Unfortunately, investing in development of tourism and agriculture is negligible. Given the fact that the government called these areas a priority, it is bad when they develop it so paltry" - said a Georgian businessman.