25 Nov 2021

Georgia’s investment environment, the impact of COVID-19 on the economy, the vaccination process, and necessary steps to be taken towards attracting FDIs were discussed during the 16th Investors Council Meeting, which was chaired by the Prime Minister Mr. Irakli Garibashvili, at the Government Administration on November 25,2021.

Opened by the Head of Government, the meeting featured welcome speeches by the UK Ambassador to Georgia H.E. Mark Clayton and EBRD Regional Director for the Caucasus Ms. Catarina Bjorlin Hansen. Head of the Investors Council Secretariat Mr. Giorgi Cherkezishvili reported regarding the council’s performance and recent activities.

The meeting also discussed prospects of FDIs into renewable energy and agriculture, creation of new financial instruments for enhancing access to financing, challenges facing the development sector, state enterprises reform, and issues pertaining to the pharmaceutical industry.

“Today’s meeting of the council encompassed almost all directions of the economy and the investment situation in a variety of areas. These issues are related to the fields of energy and pharmaceuticals, also the reform of state-owned enterprises, and the empowerment of financial tools. Plans for the future were set, and work will continue in the next few days in the format of working groups,” stated the Head of the Investors Council Secretariat -Mr. Giorgi Cherkezishvili.

Today’s meeting of the Investors Council was commended by EBRD Regional Director for the Caucasus Ms. Catarina Bjorlin Hansen.

“Today, we had a very productive discussion at the Investors Council meeting. We discussed the impact of COVID on FDI into the country, also domestic and foreign investments in the renewable energy sector, a very promising area for development for us. We also discussed covered bonds. It is a new legislation that will hopefully be passed very soon and that will lead to great inflows of financial means into Georgia. We discussed a number of other issues that we will continue to work on together with the Government of Georgia. All in all, we had a very productive meeting and a great discussion,” stated Ms. Catarina Bjorlin Hansen.