"Restrictions on ownership of farmland by foreigners hinder foreign investments "

access_time2019-03-22 11:50:01

According to President of the Georgian Farmers Association Nino Zambakhidze, the ban on the sale of farmland to foreigners hinders  investment in the agriculture and caused a decline in investment volumes  in 2018.

Despite a 3-fold increase in investment in 2018 compared with 2017, it still remains extremely low and amounts to  only $ 16 million. Nino Zambakhidze believes that this demonstrates the lack of interest in agriculture from foreign investors. 

 “a drop in investments by 34, 9% is very bad for the country. The  ban on the sale of land to foreigners is a big problem for the country as  it interferes with  the development of the agrarian sector,” she says.

The sale of agricultural land in Georgia is prohibited by the country's constitution, moreover, the moratorium has been in effect since 2013, while the constitutional norm was adopted in 2018.

According to the National Statistical Office, in 2018 investment inflows  in the country's economy dropped by 34% compared with 2017 and amounted to $ 1.3 billion.


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