Shevardnadze Dismisses US Criticism Over Unfavorable Investment Climate

(Tbilisi, August 4, 2003, Civil Georgia) – In his radio broadcast on August 4 President Shevardnadze denied US embassy’s statement regarding unfavorable investment climate in Georgia.

The US embassy in Georgia in its statement issued on July 31 expressed regret regarding the AES Corporation’s pull out from Georgia and said “AES’s action reflects the difficult investment climate in Georgia.”

“Of course the investment climate in the country is not ideal; however situation is not so grave. Many projects, including construction of the Baku-Tbilisi-Ceyhan o!
il pipeline, are in progress,” Eduard Shevardnadze said.

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