The FINANCIAL — While summarizing its activities in Georgia, Bosch President of the Eastern Region Gerhard Pfeifer told The FINANCIAL that all of the key tasks of the Bosch company are being successfully fulfilled in the country.
“Our investments in education and trainings have been the best. In this region we aim to reach EUR 50 million turnover. This is an ambitious plan but we can achieve it. Last year we made EUR 6 million and we are surpassing these numbers this year,” he said.
“Let’s talk about the former soviet region, excluding the Baltic countries. In this case we are talking about 3,700 employees, 48 locations and 4 factories. Last year we achieved steady and very impressive growth. Last year we realized turnover of EUR 1,124 million which represents growth of 43 percent since 2010. The same rate of growth will continue in 2012 also. We will double growth. We are seeing stable growth in former soviet countries and especially in Georgia. Luckily the financial turbulences of Western Europe have not yet influenced the economy of Eastern European countries. Therefore we see real GDP growth of approximately 4 percent in the next year. In Georgia this will even reach 6 percent according to several economic institutions. Inflation is on a reasonable level and unemployment is decreasing which is also a very good indicator. Therefore we are willing to invest in our business and in the region. We are investing EUR 124 million in our new headquarters in Moscow. In total in the last four years we invested EUR 250 million. We are growing based on the rates of consumption.”
“We are detecting additional interesting potential in Georgia for Bosch exports. Being a world market leader in hydropower means we have good potential in regard to involvement with the hydro power projects in Georgia. More than 30 projects are currently under construction. By comparing Georgia to other countries in the region Georgia has easily created the best conditions for investors.”
“Georgia for me is an example of how a country can change in to an energy and economy friendly country in just a few years. I will give a few examples of why Georgia is ahead of all other Eastern European countries, Western Europe and even Germany. Simplified administration procedures and successful fight against corruption are the first two big successes of Georgia’s. Being able to create a company in a very short period of time and undergoing easy procedures is a really big achievement for the country. An open government attracts investors, which supports investment flow in the country. I do hope that the new government will be future-oriented as well and follow the same path as the previous government.
Coming from the airport I have seen policemen standing on segways. I have only ever seen such a sight before in Tokyo. That shows just how much the country wants to be modern and be among the world’s leading countries. I encourage other investors to come to Georgia and invest here and for that reason I am sharing my own experience which I have had in Georgia. It is for all of the reasons which I mentioned above that we chose to base our head office here rather than in Armenia or Azerbaijan.”