We are very happy to host on our blog a commentary by Jacques Fleury, the person behind the resurrection of Borjomi and a key player in the Georgian wine industry.
A country without oil needs smart people! This clearly applies to Georgia. Not endowed with substantial amounts of natural resources, Georgia totally depends on its human resources. Yet how good is the intellectual equipment of the Georgians that is so urgently required for driving the economic development of this country?
Recently, we discussed the low ranking of Georgia when it comes to social capital (“Since When Do Georgians Trust Banks More Than Friends?”). In the 2012 Legatum Prosperity Index, our country ranked #140 in the social capital subindex, out of 142 surveyed countries!
Once considered the most dynamic sector of the Georgian economy, the banks have recently become a target for fierce criticism by Georgian policymakers and the media.
The obsession with hydropower may have obscured other green energy options for Georgia. For one thing, investment in hydro is not happening as fast as could have been expected a few years ago.