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U.S Embassy: TBC Case Result can Have Significant Implications for Georgia’s Reputation

The U.S. Embassy to Georgia is closely following developments surrounding TBC Bank.

“The conclusion of these matters, how that conclusion comes about, and how it is explained can all have significant implications for Georgia’s reputation as a place in which to invest and do business,” the Embassy told the Accent News Agency.

As for the investment environment in Georgia, the Embassy said that Georgia has worked hard to identify and implement reforms to improve the business environment.

“It recently improved its ranking to sixth, up from ninth the previous year, in the World Bank Group’s annual Doing Business report,” it added.

“The United States urges Georgia to take further steps, including to ensure that relevant laws and policies are well implemented.  Also important will be judicial reforms to ensure business disputes are adjudicated fairly, transparently, and consistently.  We will also continue to seek ways to expand U.S.-Georgia trade and investment ties, and help Georgia realize its potential to become a vital hub in the trade, logistics, and energy corridors linking European and Asian,” the Embassy said.

Source – Accent News Agency