Home / Economy / China Southern Airlines could Stop Flying to Georgia

China Southern Airlines could Stop Flying to Georgia

The Financial  writes about a dramatically reduction of  Chinese investments in Georgia. The Economic and Commercial Chancellor of the Chinese Embassy  says that the government’s visa policy has a negative impact on investments.

According to Mr Liu Bo, 30 delegates who paid a visit to the  country  are ready for investments in the energy sector and scheduled meetings but are waiting for visas after 45 days. In his words, China Southern  Airlines  flies between the two countries, but  prior to  September  the number of passengers exceeded 100,  today  only 15-20 passengers fly and if the visa policy remains unchanged,  the flight is  expected to be  closed  in 2-3 months.

A statement made by  the Chinese Embassy with regard to investments is unclear for the parliamentary majority leader David Saganelidze. Saganelidze does not know why diplomats issued a similar statement claiming that earlier the Chinese investments in Georgia were confined to  import of  household items and  Chinese toys of low quality by small companies. Today Hualing Group is the biggest investor in the country which carries out a large investment. It is engaged in  construction of  the Olympic Village, a large shopping mall and so on.

According to The Financial, USD 89 million investment recorded  in 2013 has reduced to  USD 8 million in the first and second quarter of 2014.

It is also important to mention the figures published by Sakstat. As per  statistics, China accounts for  29% of USD 508 million investment in the third quarter  followed by the Netherlands – 18%, Azerbaijan – 16%, USD – 5%, Russia- 3%.