"Our next goal should be to attract quality investors" - Mariam Koyava
"Our next goal should be to attract quality investors," Mariam Koyava, managing partner of the consulting company SavvY, said during a visit to the BMGTV program Redact2. Koyava mentioned that work is underway in this regard.
To the question of whether we should take pride in the foreign direct investment trends in Georgia, the respondent answers that the country has a positive trajectory considering the current situation in the region.
"Foreign direct investments are a significant parameter for all countries because, along with the cash inflow, investors often demand highly skilled labor and transfer knowledge and experience to the country. A question is frequently asked - why do we care so much about FDI instead of domestic investors? Regarding direct foreign investments, we have a normal indicator given the situation we have to contend with, including the post-COVID period, regional unrest, and the war factor; these are critical and sensitive issues.
I think Georgia has a good trajectory in this respect, but what more can we do? In my opinion, our next step should be, and as far as I know, they are working on it, to attract quality investors. That is, not just investors who come in, carry out a project, and leave with their money, but rather investments that involve reinvestment over the medium term and leave behind knowledge and experience in the country," explained Koyava.
When asked if Georgia has an attractive investment environment, Mariam Koyava says that Georgia must find its own niche and offerings to compete with other countries.
"Regarding investment attractiveness, if we look at taxes, we have quite loyal and attractive policies. The issue of the court system continues to be an obstacle for many investors, so private arbitration or adherence to international law may be utilized to enter or invest in the country. Litigation may be a concern, but investors can hedge against this risk through arbitration. We cannot attribute the lack of investor interest solely to the court system.
And as for how Georgia might be found interesting, I believe we have offerings that could pique interest, such as the foreign direct investment grant or the loan subsidy component for many sectors, etc. Today, the competition for international investors is fierce among countries. Many nations are striving to showcase their competitive advantages; we need to demonstrate to investors why it is more advantageous and profitable for them to invest in our country. I think we should emphasize our competitive advantages more," said Mariam Koyava.
She believes that Georgia has the potential to develop the balneotherapy and wellness sector.