25 June 2019,   20:57
more
"Georgia is an investor’s graveyard" - founder of "Iconia Capital" blames the government for pressure

"I said that Georgia is an investor’s graveyard masquerading as a business utopia," the statement was made by American Ikonia Capital founder Edward Char in an interview with Courier.
The company blames the Georgian government for pressure and sues the country in international arbitration.According to the businessman, certain individuals have done everything by means of corruption and illegal decisions. According to him, all the branches of the country"s government were actively involved in it.
According to Edward Char, it was a development project that was planned to be implemented in Tsintsadze Street in Tbilisi.
"Ikonia Capital is not the first and the last of those who have been robbed of capital and everything is taken away when the government urgently calls investors to come here and invest. My goal is to let them know what a hard reality they will face, because with whom you have to confront, will not be simple people. They are ignorant of the law, its supremacy. In my case it was proved that the investor"s protection is impossible and there is no favorable environment. My goal is to share this story with everyone. Yes, I tell you that it is not safe to invest money here , "said Char, the founder of Iconia capital.
American businessman sues the government of Georgia in the arbitral tribunal and intends to demand 10 million dollars for damages.
Courier has contacted American businessman after his article was published in New Europe, where Edward Char points to his company"s problems.

RELATED TOPICS
MORE HEADLINES