Georgia-UK Business Forum brings together dozens of current and potential British investors

Official opening of Georgia - United Kingdom Business Forum was held in Tbilisi yesterday. The Minister of Economy and Sustainable Development Natia Turnava participated in the event, and it was also attended by Judith Slater, a member of the British Government's Trade Commission for Eastern Europe and Central Asia, the Ambassador of the UK to Georgia, Justin McKenzie and other officials.

In her welcoming speech, Minister of Economy highlighted Georgia's macroeconomic trends, high international ratings, ongoing and planned reforms and investment attractiveness of the country.

According to the Minister, strengthening international cooperation and economic integration is a priority of Georgia's economic policy.

“We are actively working to deepen economic cooperation and accelerate economic growth through tools such as trade facilitation, development of transport infrastructure and investment incentives,” noted Turnava.

The Minister said that the Government of Georgia aims to further increase the inflow of foreign capital into the Georgian economy, as Foreign Direct Investment (FDI) is an important source of economic growth, knowledge and technology transfer.

At the same time, special attention is paid to the qualitative improvement and diversification of FDI flows, thereby making it more profitable in terms of productivity and export promotion.

According to Natia Turnava, Georgia has a solid foundation to become a regional hub. She noted that the use of transit potential and the development of logistics centers, intermediaries for the processing and production of goods coming to Europe and Asia. She said that among many other things, Georgia offers a developed tourism infrastructure and an open energy market to potential investors.

As Judith Slater points out, the forum brings together businesses in the United Kingdom and Georgia to see once again how they can work together to improve bilateral trade relations, which is already evolving.

“Georgia's 7th position in the World Bank's "Ease of Doing Business" is very appealing to businesses that come here. They want to get the specific benefits that these circumstances bring,” noted Slater.

She said that it is simple for British businesses to develop in Georgia, which is further promoted by direct flights between the countries.

“We want more British businesses to come here, find local partners and learn more about the local market. In addition, Georgia has a very well-developed digital economy and it is easy to do business,” noted Slater.

The forum was held yesterday, on December 3rd at the Rooms Hotel Tbilisi, and it brought together dozens of current and potential British investors.