Georgian political scientists and economists are expecting the Georgian delegation in Davos, headed by Prime Minister Irakli Garibashvili to attract a number of foreign investments. This is what the PM promised before his departure to Switzerland.
“Georgia has many opportunities at the World Economic Forum this year, but it depends how the government presents all the advantages of investing in Georgia,” Ketevan Krialashvili, CEO and Founder at the Economic Education and Strategic Research Center, told Georgia Today.
Krialashvili believes that if the Georgian government develops Free Industrial Zones and local infrastructure, the country will become more attractive for foreign investors.
In the framework of the Davos World Economic Forum, the PM held meetings with leading ICT company leaders who agreed that working groups from these companies will visit Georgia in the near future to study the Country’s potential on the spot.
However, it was difficult to reach an agreement with leading companies, despite the fact that after signing the Association Agreement with the European Union Georgia has gained access to the internal Market of the EU, which currently unites 28 countries and over 500 million consumers.
The World Economic Forum is one of the most powerful gatherings in the world. Political leaders focus on very solvable problems, such as poverty, climate change and other political, economic and societal issues.
In Georgia the vast majority of the extremely poor share the common profession of farming. Therefore, improving farmer productivity has enormous downstream effects beyond merely putting food on people’s tables.
According to a Schwab social entrepreneur, farming is one of the most efficient and cost-effective ways to reduce poverty, improve the health of children and families, grow economies and mitigate the adverse effects of climate change.
“One of the leading French companies, Louis Dreyfus - global merchandiser of commodities, major asset owner and processor of agricultural goods, has already taken an interest in the agriculture sphere of Georgia,” said Garibashvili during his interview with Georgia’s Channel One on January 21.
Ketevan Krialashvili noted that developing agriculture should be a priority in Georgia and that the state should make investments itself especially when 70% of agriculture landplots are still owned by the state. “We should consider that foreigners cannot buy the land in Georgia and there are many limits on that, hence it will be difficult for the government to attract foreign investments in this field,” she added.
The Georgian Prime Minister also called on participants of the World Economic Forum to support the launch of an annual gathering of leaders of interested states and international bodies to be known as the Tbilisi Silk Road Forum.
“This area has always been a hub for intensive trade and economic interactions,” said the PM in remarks prepared for a panel discussion on growth markets. “Today, Georgia enjoys free trade with a marketplace of almost 1 billion consumers across the Eurasian continent.”
Garibashvili called for new channels for the sustainable development of the wider Eurasian region, outlining road, rail and shipping projects that will offer fast, cost-effective and reliable routes for delivering goods from China to Europe.
Krialashvili positively assessed the PM’s new initiative and added that creating a Tbilisi Silk Road Forum will assist not only China to deliver goods to Europe but also other countries who otherwise have no access to the European Market.
Speaking at a panel discussion on travel and trade in a high-risk era, Garibashvili emphasised the importance of open border policies based on trade and visa liberalisation, cross-border cooperation and respect for international law.
The PM also emphasised the importance of energy pipelines, many of which go through Georgia: “They will change the energy map of the entire region.”
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