German Chambers Union - “Georgian business climate at risk”

The ban on land acquisition for foreigners is a bad signal to investors,-  Tobias Baumann, Director of the International Department at the German Chambers Union told The FINANCIAL.

The bill that was adopted without general public discussion is creating risks for the development of the investment climate in Georgia. 

“If you are looking for investors in agriculture then the acquisition of land should be possible. This is the case in most developed and liberal market economies,” - Tobias Baumann says adding that this definitely makes it easier to attract foreign investments. The Union estimated the Georgian business atmosphere to have deteriorated since the 2012 elections.

Adapted from commersant