The Minister of Foreign Affairs responded to the US Department of State's assessment of the investment climate in Georgia and said that the strategic partner positively assesses the business environment in the country.
The document states that “the independence of Georgia’s judiciary and political inference in the judicial system remain problematic. Concerns regarding the integrity of the judicial appointment process and the capacity of the courts to deliver quality outcomes continue to affect investor confidence in the court system.”
Against this background, Davit Zalkaliani said that the partners positively assess the reforms:
"We are pleased that the Department positively assesses the healthy and attractive business and investment environment in the country. As a result of years of economic reforms, Georgia is a well-functioning and stable market economy. The report highlights Georgia's leading positions in the region and the world, which is reflected in the most important international rankings.
It is also extremely important that our strategic partners give a positive assessment to the most important reforms and programs implemented by Georgia in many areas to improve the investment environment and increase its attractiveness," - said David Zalkaliani.
The Assessment concludes that “overall, business and investment conditions are sound. However, there is an increasing lack of confidence in the judicial sector’s ability to adjudicate commercial cases independently or in a timely, competent manner, with some business dispute cases languishing in the court system for years. Other companies complain of inefficient decision-making processes at the municipal level, shortcomings in the enforcement of intellectual property rights, lack of effective anti-trust policies, accusations of political meddling, selective enforcement of laws and regulations, including commercial laws, and difficulties resolving disputes over property rights.”
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