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The EBRD representative gave Sakartvelo some tips on investment attraction

2011-11-17 15:48

The director of the European Bank for Reconstruction and Development EBRD in the Caucasus, Moldova and Belarus Paul-Henri Forestiиre expressed optimism about the attraction of foreign investment into the Georgian economy. As reported by the GHN, he expects the inflow of direct foreign investments to Georgia in the amount of $ 750 million. However, the current level of investment is two times less than in 2008.

"It is not true that Georgia can not attract investment due to the fact that it is small country. We think there is still much to do", said Forestiиre.

He also believes that Georgia should fix a number of shortcomings in the legislative arena.

Thus, according to an expert, in Sakartvelo virtually has an "antique" legislation in the mining industry. For this reason, foreign companies will not hire lawyers to work in this industry.

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