Ban on the Sale of Agricultural Land to Foreigners may Deter Investment

access_time2017-09-13 12:59:17

Chairman of the German Business Association (DWV) Sascha Ternes  says that the ban on selling agricultural land to foreign private and legal entities is a big mistake that could have serious consequences for the development of agriculture in Georgia.


Regulations should not hamper investment, and the new law should not contradict investment agreements, including between Georgia and Germany. The business community should take an active part in the discussion of this issue," he says.


In his words, Georgia needs foreign investment in agriculture, and land is an asset. At the same time, both the government and business should be sure that land is acquired not for the purpose of speculation, but for investment and production.


“There is a danger that a complete ban will arose  distrust towards Georgia among investors. If the sale of  land to foreigners in exceptional cases is allowed, the process should be completely transparent, "Sasha Ternes believes.

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