Some issues concerning Georgian industry
By Messenger Staff
Tuesday, September 7Some time ago world famous economist and Nobel Prize winner Robert Mundell expressed his opinion on Georgian industry and proposed lifting tax pressures from it and activating efforts to improve the investment climate. Unfortunately Georgian industry has been deteriorating for a long time. Industry’s share of the Georgian economy was 17.7% in 2003, 16.1% in 2004, 15.7% in 2005, 14.9% in 2006, 13.3% in 2007 and 13% in 2008.
Economic analyst Irakli Iashvili suggests that these figures show that Georgia is not using its industrial potential appropriately, stressing that the major export product of Georgia is scrap metal. Currently foreign investors are not investing much in industry.