CDM: Insufficient foreign investment in Georgia

During the recent debates following the Presidential annual report, the leader of Christian Democratic Movement (CDM) mentioned a number of failures of the ruling administration including the increase in Georgia’s foreign debt, the increased cost of utilities and most of all the problems the country is experiencing in receiving investment.

Targamadze pointed out that in the first quarter of 2010 Azerbaijan received USD 1.5 billion, Armenia USD 300 million and Georgia only USD 273 million. His party’s solution to the problem would be to decrease taxation pressure, reform the court system and combat monopolies. According to Targamadze the Government’s various programmes such as the employment programme, anti crisis programme, economic stimulation program, hundred days programme, 50 months programme, 100 hospitals and cheap insurance programme, etc. are all failures. The CDM also thinks that the Georgian government encourages, supports and gives extra benefits to foreign businessmen but stifles the creation of Georgian businesses as the conditions are unequal for the two sectors.