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President’s Welcome Note
Mikheil Saakashvili President
Dear Readers,
A sincere and warm welcome to the readers of this exclusive report!
As you probably know, Georgia has an ancient history and a deep cultural heritage, but recently it has confronted political and economic challenges. Nonetheless, our path to development is steady. We are committed to looking for new opportunities and to maintaining economic growth and stability. Our main goal is to rise above our current difficulties, minimise the impact of the world economic crisis, and preserve the peace and well-being of the Georgian people.
Georgia has enjoyed significant economic growth in recent years, largely because of the robust inflow of foreign direct investment. When we adopted our reform agenda, we understood that the country’s business climate needed drastic change, and we rose to the occasion. Since 2003, we have drastically reduced corruption, minimised red tape, deregulated and liberalised all key sectors of the economy, simplified the tax system and issuance of licences and permits, and lifted trade barriers.
revitalise our domestic business climate; they also made Georgia a more attractive place to invest. Today, we are pleased to have both diverse sources of investment and an abundance of sectors into which those funds flow.
Georgia has friendly and rapidly developing economic relations with the UAE and Gulf countries. Both sides derive significant benefits from these relations, and interest in developing them is mutual. Some of the investments from the UAE, due to their scale and scope, are strategically important for Georgia and the investors alike. We have established transparent relations based on trust and appreciation of each other’s interests, and this gives us the opportunity to sustain and deepen our cooperation. We hope this trend continues and fosters even greater interest from the Gulf Cooperation Council.
fields and sectors where our cooperation can grow. Agriculture, food processing and production, for instance, have outstanding investment potential. Georgia has significant competitive advantages in tourism, energy (including renewables and hydropower), and light manufacturing industries such as textiles. Partnerships in these areas could be highly beneficial for all of us.
As I mentioned, some of the UAE investments—such as the Free Industrial Zone in Poti by RAKIA—are strategic because of their size and scope. Trade-transit capabilities are a key service that Georgia has to offer. Poti Port has long been a critical component of this sector, and the FIZ greatly enhances our trade-transit capabilities through improvements in infrastructure and services and by increasing economic activity.
It is my sincere belief that relations between our countries will only grow warmer. We have a strong foundation upon which to build, and we extend our hand to new friends and potential investors. I wish the readers of Strategy Reports success in all their endeavours and invite you to visit Georgia to explore the potential of our country.
Georgia has enjoyed significant economic growth in recent years, largely because of the robust inflow of foreign direct investment.
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