Proceedings of the 2nd Business & Management Conference, Madrid

PRINCIPLE LINES OF FORMING ATTRACTIVE INVESTMENT CLIMATE IN GEORGIA

LAMARA QOQIAURI

Abstract:

Each foreign investor today considers Georgia with its investment environment to be one of the most attractive countries. This is not a casual issue. Our country, with effective economical policy of the government, makes maximal attempts for avoiding multiple obstacles of forming favorable investment climate giving impulses to its actualization. My present work is dedicated to the problematic issues of forming investment climate favorable and attractive to the foreign investors, primary ranges of the industrial system – enterprises and organizations; I tried to represent the factors influencing upon formation of attractive investment environment and to give their new grouping and analyzing. In the preseneted work the following issues are researched: Investment climate and investment attractiveness from theoretical perspective, content and characteristic of principle factors of forming investment climate of the country: Economical factors and their role in creation of investment climate; Influence of administrative-legislative factors upon formation of the investment climate; Influence of social-economical factors upon investment climate; Influence of resources and technical capabilities upon investment climate, within possible bounds,I included practical materials selected for strengthening my theoretical postulates. Consideration of theoretical aspects forming investment climate discussed in the work as well as generalization of four blocks concerning investment climate and the outhors’s recommenations: • to abstain from adoption of laws setting unjustified restrictions to local and foreign investors and delay their development; • avoidance of regulations, restricting competition at the particular markets and promoting separate companies; • Harmonization of Georgian legislation with EU legislation and regulations of international legislative institutions; • Special attention to the environmental issues; share of investments in the basic stock its increase for environmental protection and rational utilization of natural resources; • revision of legislative and regulatory framework of environmental and sanitary-epidemiology monitoring. • solvation and arrangement of rights related to land use, settlement policy and competences of local residents as well as issues related to compensation, will help local and fereign investors to implement investment projects, create attractive investment climate in Georgia and activate investment processes.

Keywords: Economical growth, Investment climate, investment attractiveness, macro-economy stability, legislative base, business, partner fund.

DOI: 10.20472/BMC.2015.002.011

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