on a 35% decrease in foreign direct investments
(FDI) . Temur Chkonia positively assesses the country's investment climate and defines
several types of investments - foreign investment, foreign funds attracted by the local investor and the local investments.
Chkonia notes that it is important to analyze whether incoming investments are protected in the country and in what tax environment an investor has to work. The latter is not bad in Georgia.
"I think in some cases it is good, the administration depends on the will. As for the court system, it’s a place where any person can appeal to protect his rights. Unfortunately, the vast majority of the public agree that the judicial system is poor, "Chkonia explains.
In Chkonia’s words, unfortunately, only politicians are involved in the recovery of the judicial system and not the layer which is directly concerned.
According to Chkonia, everyone thinks that the court reform belongs to politicians and not the business community. But all this is an integral part of the investment environment, " Chkonia notes.
Chairman of the Supervisory Board of Telavi Wine Cellar Zurab Ramazashvili says that the country’s business environment is quite attractive, including in terms of taxation. He believes the Estonian taxation model is a gift for business.
As far as the private sector has a certain role in the income of investments, Ramazashvili explains that the private sector should propose an acceptable proposal by which foreign investors will get interested and make money.
Notably, in 2018 FDI decreased by 35% compared to 2017.