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Businessman Lasha Papashvili: Government and National Bank must Cooperate

Businessman Lasha Papashvili: Government and National Bank must Cooperate

An interview with a businessman Lasha Papashvili

Has the Government managed to present Georgia’s potential in terms of investing during the EBRD Forum?
Everything has been held at a very high level, but the weather. The EBRD Forum is a very important event for our country. The decision to hold it in Tbilisi was taken more than 2 years ago, this means that the world’s leading financial institutions pay great attention to Georgia.

Have you had any meetings at the Forum?
I met with the EBRD’s representatives in real estate, tourism, and agriculture, as we are working in these areas. I discussed the question of the expansion of our business, both in the hotel industry and in agriculture. Our company is now building a new hotel and extending the farm, the EBRD, which investments amounted to $ 20 million, is involved in these projects.

In your opinion, will the government take into account the EBRD’s recommendations?
Such forums are held for this purpose, EBRD is one of the world’s largest financial institutions, and its opinion is always very important.

Your colleague, the founder of the pharmaceutical company “PSP” Kakha Okriashvili said that business in Georgia has no a 100% guarantee of inviolability. Do you agree with this opinion?
I do not think my colleague had in mind any risks to business – in this sense, security is guaranteed by 1000%, another thing is that many officials in the government are unable to take rapid decisions – that is a real problem.

How can you explain the fact that the government fails to stabilize lari exchange rate ?
Today I don’t see any preconditions for the lari restoration. The authorities must do everything to avoid fluctuations. This requires joint efforts of the government and the National Bank, but unfortunately it is not visible. I have repeatedly said this to representatives of both structures, but they still act inconsistently, and the negative effects of this are obvious.