Mamuka Khazaradze talks about the plans of ‘Lelo for Georgia’ party
By Nika Gamtsemlidze
Monday, September 21
One of the founders of the Lelo for Georgia party, Mamuka Khazaradze, spoke with the Forbes Talks. He talked about the future plans of the country and the problems that Georgia is facing today. According to him, establishing international arbitration for local and foreign investors in Georgia is part of the ‘Lelo for Georgia’ election program.
Speaking to Forbes Talks, Mamuka Khazaradze, the party's chairman, said it would be a professional arbitration house similar to the London Arbitration and the London Arbitration team is working on the necessary legislative changes to establish it.
“If we want to attract international capital, we have to offer them the legal space they have in London, New York, Geneva. I mentioned London because I already signed a contract with them when I was in Anaklia consortium. It is a union of lawyers from the United Kingdom and Ireland. 180,000 lawyers are united. We have signed a contract with them and have already prepared the first documentation on what legislative acts are needed to establish an international arbitration in Georgia, in which they will participate,” noted Khazaradze.
Khazaradze also names the factors that have a negative impact on the GEL exchange rate. According to him, state policy has an impact on both the national currency and the attitudes towards it as well.
In an interview with Forbes Georgia Editor-in-Chief Giorgi Isakadze, Khazaradze also spoke about the trend in recent years in business circles, saying that the field of business "has lost its joy.”
There are a lot of things that influence the devaluation of the Georgian Lari. Among the things that he noted are uncertainty, frozen economy, wrongdoings of the National Bank, and frozen reforms.
According to Khazaradze, Georgian businesses have been investing in foreign banks for several years because they no longer believe in the development of the Georgian economy. “This is the worst trend. What are we even talking about when a businessman, who is tied to the whole infrastructure in this country, has no plan to reinvest the money taken from there and is accumulating it in the economy of another country?”
Lelo for Georgia is a political party in Georgia that was created at the end of 2019 by businessmen Mamuka Khazaradze and Badri Japaridze. The party has attracted a number of prominent political figures and parties, including David Usupashvili's Development Movement, the New Rights Party, and Pikria Chikhradze. The political party was officially established on December 22nd, 2019.
