Giorgi Jakhutashvili: Kazakh Businessmen Have Invested over $250 million in Georgia

Doing business in Georgia reveals various peculiarities, Giorgi Jakhutashvilil, Capital investment group manager general and Honorary Consul of Kazakhstan to Georgia told Business Partner.

According to official statistics, Kazakh businessmen have invested over $250 million in Georgia, while unofficial indicators exceed $0.5 billion. Investments have been made in Batumi Seaport, oil terminal, oil company, commercial banks, communication companies, airlines, and real estate.

“$250 million invested in the non-neighboring country in the Post-Soviet space is the biggest amount. This is an enormous figure. So far, Georgia-Kazakhstan business relations have been developed so strongly that this figure will grow three and four times”, Giorgi Jakhutashvili noted and added that Georgia and Kazakhstan have huge opportunities for developing economic cooperation and these opportunities should be fully employed.

The honorary consul also talked about challenges that businessmen face in Georgia. “Kazakh business entered Georgia amid the growth trends that started in 2006… They entered without market exploration. They entered real estate and other businesses. Trust is a very important component in Asian and Middle Asia culture. Later, they met problems. Without shifting all the responsibility onto the government, we should note that the attitude to doing business and experience of doing business in Georgia is of crucial importance because doing business in Georgia reveals various peculiarities.

Seemingly, we have introduced single-window services, but not at full scales. Doing business in Georgia has its own peculiarities”, Giorgi Jakhutashvili noted and added that the mission of the honorary consul is to assist business so that investors interested in Georgia face no problems.

‘We should foster them in doing business. We should help them in overcoming challenges. New investors should be fostered to pass this way simply, with fewer problems and mistakes”, the honorary consul noted.