Georgia expects investment of US$ 2 billion

According to Executive Director of «Partnership Fund of Georgia» Mr. Irakli Kovzanadze in 2013 Georgia expects foreign direct investment of US$ 2 billion, Business Georgia informs.

Kovzanadze said that the Georgian government will hire international investment banks to hold consultations on the management of Sovereign investment fund. «We are negotiating with “JP Morgan”, “Credit Suisse” and other banks that have the experience in asset management», - said Kovzanadze. According to him, the Sovereign fund will be the successor of the Partnership Fund. The revenues of the Sovereign fund will be derived from the profits of state-owned companies (railways, oil and gas corporation, etc.), dividends and investments. Irakli Kovzanadze believes that the main flows of investment will be from Turkey, Azerbaijan, Kazakhstan and Russia.

English translation by BSN