The investment climate of the country, the business environment are extremely important for us and we should not allow anyone, even through misinformation, to call this issue into the question, – the Prime Minister of Georgia Giorgi Gakharia told reporters when commenting on Frontera issue.
According to Prime Minister, Georgia won an arbitral dispute with Frontera and regained 99 per cent of the area.
“As a result of this arbitral dispute, the Georgian government regained 99 per cent of the assets of that area. Georgia refused to start the process on the remaining one per cent of the area, despite having all legal and formal grounds, because the investment climate and business environment of the country are extremely important. No one should be allowed, even by spreading misinformation, to question the investment environment and the business climate of the country. Second, we should not allow anyone to use the strategic partnership for any targeted purpose, and the third, the interests of Georgian people who worked for this company should be protected,” – said the Prime Minister.
The Georgian government decided not to terminate its contract with Frontera Resources Georgia Corporation and to allow the company to continue operating at the one per cent of the exploration area.