MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

“Georgia has become a very interesting and popular destination for business, investments, and startups. This is a combination of both natural circumstances and the advantages created by the efforts of the country’s government” – Irakli Nadareishvili, the Deputy Minister of Economy and Sustainable Development stated during a panel discussion at the Georgia Investment Forum in London.

The Georgia Investment Forum was held in the United Kingdom for the third time, and for the first time directly at the London Stock Exchange. Over 180 active and potential investors attended the event.

In his speech, the Deputy Minister emphasized Georgia’s strategic location, which enables it to further develop as a corridor for the transit of goods and services between Europe and Asia. He noted that geopolitical challenges in the region have significantly increased the importance of this corridor. Irakli Nadareishvili also highlighted the advantages created by the Georgian government over the last decade. “Today, we have an open and liberal economy with an effective regulatory and tax environment. We will also continue to sign free trade agreements with major global markets. If you look at global business development rankings, you will see that Georgia has held leading positions over the last decade. For example, in almost all areas important to investors, Georgia ranks among the top five countries worldwide in the World Bank’s Doing Business Report” – Irakli Nadareishvili noted.

The Deputy Minister placed particular emphasis on decisions made to develop the innovative ecosystem. He stated that the government is actively developing innovation infrastructure and making significant investments in IT education to train qualified specialists. Simultaneously, by adopting preferential tax legislation, Georgia is attracting international technology companies.

Irakli Nadareishvili noted that the advantages created by the government are providing a significant impetus for economic growth, reflected in the increase of both GDP and Foreign Direct Investment over the past four years. The Deputy Minister also highlighted that approximately 80% of investments in the country are reinvested. In his assessment, this is the best evidence that investors view Georgia not merely as a country with positive macroeconomic parameters, but as a platform for their own growth and development.

The Deputy Minister focused on economic sectors that are most attractive to investors, including renewable energy, transport and logistics, tourism, information technology, business process outsourcing, and the financial sector, among others. Irakli Nadareishvili also discussed such strategic projects of regional importance as the Anaklia Deep Sea Port, the Black Sea submarine cable, the modernized railway, a new airport project in Tbilisi, and the East-West highway.

The Deputy Minister also particularly highlighted the capital market reform that has been successfully implemented in recent years. He specified that the corporate bond market has doubled in recent years, a growth also driven by relevant government decisions. “We have a developed banking system in Georgia. The country’s two largest banks are listed on the London Stock Exchange, which is very significant. At the same time, our interest is to further develop capital market instruments, and this is one of the priorities of our economic policy,” – Irakli Nadareishvili noted.

Giorgi Saganelidze, Chargé d’Affaires of Georgia to the United Kingdom, also spoke at the investment forum. He discussed the role of Georgia’s diplomatic mission in developing investment, trade, and economic relations between the two countries.