Prime Minister Appoints Ex Slovak Economy Minister Vazil Hudak as His Advisor in Attracting FDI

Georgian Prime Minister Irakli Gharibashvili appointed Vazil Hudak as his special advisor in attracting Foreign Direct Investments (FDI). Regretfully, neither Prime Minister nor the special advisor has made any additional comments on this appointment.

In 2016-2019, Vazil Hudak was vice president of the European Investment Bank (EIB) and in 2015-2016, he was the Economy Minister of Slovakia. Starting 2019, Vazil Hudak is a project manager at GLOBSEC consulting center of Slovakia.

Starting February 2021, Hudak is a member of the investment committee of the Development Foundation of the Czech Republic. Furthermore, starting January 2021, Hudak is chairman of the 4gimel investment foundations’’ supervisory board. “We are developing a new economic recovery plan to tackle COVID-19 challenges and FDI inflows will have a leading role in future economic development. Our country is thirsty for foreign investments to ensure rapid recovery, create new job places, generate more profits. Therefore, we have selected Vazil Hudak as our advisor in attracting FDIs”, Irakli Gharibashvili noted. As reported, FDI inflows in 2020 constituted $616.9 million, down 52.9% year on year.

This is the lowest figure since 2008-2009, in the post-war period. According to official statistics, Georgia’s FDI inflow has seen the 15 years’ minimum in 2020.