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Investment

AmCham Criticizes Restrictions on Land Sales to Foreign Citizens

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American Chamber of Commerce has expressed extremely negative position in connection with the announced restrictions of land sales to foreign citizens, AmCham head Michael Cowgill told Business Course.

“We have several members, who own lands fully or partly, and therefore, they will likely suspend their investment projects. Agriculture sector has huge potential within this country. Therefore, these restrictions will badly modify the country and that is a poor message to those, who will expend in agriculture sector and other investors”, Michael Cowgill said.

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According to Georgian Prime Minister Giorgi Kvirikashvili, the usual law of the nation will restrict sales of agriculture lands to foreign citizens.

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