Thursday, August 16, 2007, #156 (1423)

Foreign investments boom in Georgia

Foreign direct investment in Georgia in 2006 was 2.5 times the 2005 figure, according to the newspaper 24 Saati.

Last year, Georgia took in foreign investments worth USD 1 billion from 44 countries.

The Georgian government predicts the 2007 figure will reach USD 2 billion.

Some independent experts have questioned the usefulness of selling Georgian assets to foreign companies. They argue that the success of investments should be judged on the effective functioning of businesses within Georgia and the creation of jobs for Georgians.

Those experts have also warned that the flow of Kazakhstani and Russian capital into the country does not sit well with its Western orientation.

Tbilisi, however, continues to prioritize attracting foreign investment.



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