"European Democrats" are worried by Georgian investment climate
"European Democrats" are worried about the current investment climate in Sakartvelo. According to "Business-Georgia", on the eve, during a press conference, one of the leaders of the party Giorgi Hokerashvili reported that foreign direct investment in Georgia totaled $ 203 million. This was 5 million less than the same period last year. According to experts, this was investment collapse.
"It was surprisingly but the Georgian government expects foreign direct investment of $ 1 billion in 2011. Pretty similar prediction was made for 2010. But last year, investments amounted to 553 million instead of 1.2 billion" - said the "European Democrat". He's also worried that 18 countries exported a total of 53 million dollars from Georgia only in the first quarter of 2011.
The biggest outflow of capital - 34 million - occurred in the United States. This automatically led to job losses in Georgia, and put the country's further development threatened.
According to the "European Democrats", the main reason for reduced investment was the lack of democratic institutions in Georgia - frequent changes in the tax code in the country, the lack of an independent judiciary, bad monetary policy and unhealthy competition.