Uncertain future and expectations of  Georgian wine industry

Uncertain future and expectations of Georgian wine industry

access_time2020-03-24 17:28:52

“Crisis, as a rule, is a good period for investing in the future, but we have to suspend investing as access to finance has declined,” the founder of the Telavi Wine Cellar winery says.

According to the founder, winemaking is in a very difficult situation, as exports fell almost to zero as well as  domestic consumption as tourists don’t arrive in the country  while all restaurants are closed.

“In the crisis caused by the COVID-19 outbreak, we have to cut the staff, reduce salaries and fight against lower incomes through various radical methods. The crisis has seriously damaged winemaking. I can honestly say that we were not prepared for such a scenario, but are  not going to  suspend our work, ”the businessman explains.

The founder of the Vaziani wine company Irakli Iashvili believes  that delayed investments and an uncertain future impede business development and make job cuts inevitable.

According to Iashvili, those who have cash at hand, should buy real estate and securities that will become cheaper over time.

“The situation will continue to deteriorate but still all depends on how long it will take to get out of the crisis. China sees positive dynamics where enterprises resumed production. Now the main is to face towards  a positive point and resume economic growth,” Irakli Iashvili concludes.


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