PM: USD 450 million foreign investments so far in 2008
By M. Alkhazashvili
(Translated by Diana Dundua)
(Translated by Diana Dundua)
Friday, February 22
Already this year USD 450 million has been invested in Georgia, Prime Minister Lado Gurgenidze announced on February 19.
He also forecast total foreign investment to reach USD 1.5 billion by the end of 2008, clearing the former government target of USD 1 billion.
“In 2008 investors’ trust in Georgia has been restored. Investors have recognized that after the January 5 presidential election the political situation here has stabilized, and they see that reforms continue,” the newspaper 24 Saati quoted Gurgenidze as saying.
The prime minister added that a USD 500 million Eurobonds issue this year will help increase foreign investment in the country. On February 20, Finance Minister Nika Gilauri announced that JP Morgan and UBS will manage the issue this April.
He also forecast total foreign investment to reach USD 1.5 billion by the end of 2008, clearing the former government target of USD 1 billion.
“In 2008 investors’ trust in Georgia has been restored. Investors have recognized that after the January 5 presidential election the political situation here has stabilized, and they see that reforms continue,” the newspaper 24 Saati quoted Gurgenidze as saying.
The prime minister added that a USD 500 million Eurobonds issue this year will help increase foreign investment in the country. On February 20, Finance Minister Nika Gilauri announced that JP Morgan and UBS will manage the issue this April.