Government official calls for change in economic policy
By M. Alkhazashvili
Thursday, November 15
Niko Lekishvili, chair of the parliamentary Committee of Sector Economy and Economic Policy, has called for a change in Georgia’s economic development direction.
“I think that it’s high time to change the [country’s] economic course and support development of local enterprises,” Lekishvili stated.
Attracting foreign investment has been a cornerstone of the current government’s economic policy, and Prime Minister Zurab Noghaideli recently stated that total foreign investment in 2007 is expected to reach USD 2.3 billion, equivalent to 25 percent of the country’s GDP.
In 2005 foreign investment was equivalent to 7 percent of GDP, indicating substantial progress over the past two years, according to 24 Saati.
But Lekishvili says that local enterprise is the key to tackling the social problems Georgia currently faces.
“Foreign investment is good but without the local enterprise development new jobs cannot be created,” Lekishvili explained, according to the newspaper Versia.
“I think that it’s high time to change the [country’s] economic course and support development of local enterprises,” Lekishvili stated.
Attracting foreign investment has been a cornerstone of the current government’s economic policy, and Prime Minister Zurab Noghaideli recently stated that total foreign investment in 2007 is expected to reach USD 2.3 billion, equivalent to 25 percent of the country’s GDP.
In 2005 foreign investment was equivalent to 7 percent of GDP, indicating substantial progress over the past two years, according to 24 Saati.
But Lekishvili says that local enterprise is the key to tackling the social problems Georgia currently faces.
“Foreign investment is good but without the local enterprise development new jobs cannot be created,” Lekishvili explained, according to the newspaper Versia.