American Chamber of Commerce Comments on the Economic Situation

What are the economic situation and the business climate like in Georgia? Michael Cowgill, the first vice-president of the American Chamber of Commerce, has told TV3’s English language Business News program that the slowing of the economic processes has been noticeable. However, the business environment remains attractive for investors. According to Mr. Cowgill, the tax system and the new balanced Labour Code contribute to the healthy business climate. Speaking about American investment in Georgia, the ACC vice-president states that the investors are awaiting more political stability, and that some uncertainties still remain for them following the political changes in the country. He adds that the upcoming presidential elections might delay both foreign and local investment in the country.