British Ambassador to Georgia Justin McKenzie said on Wednesday that the growth of local and foreign investments is important for Georgia’s rapid path to economic development.

In this regard one of the important projects for Georgia is the Anaklia project, which is a joint venture of Georgia’s TBC Holding LLC and Conti International LLC . Georgian banking company TBC Bank is facing a criminal investigation over money-laundering allegations involving a USD 17 million transaction that took place in 2008, Georgia’s Prosecutor’s Office announced on January 9.

When asked, about the possible impact of the ongoing investigation on the Anaklia project, Ambassador McKenzie told the Accent: “It will not be right to comment on the specific case. However, we look closely at all those cases, where are significant British investment and where are involved British companies.”

As he emphasized the existence foreign investments “depends on the transparent and predictable environment in the country, which will be based on a fair and reliable judicial system.”

“We want to work with the Georgian authorities to implement these practices,” he added.

As for the importance of the Anaklia port, Ambassador McKenzie said: “Georgia is located between Europe and Asia and this Geographical location gives the country a natural advantage in this direction.”

“Over the years, Georgian governments have used a number of possibilities to benefit from this advantage. The Anaklia project is the answer to this ambitious challenge. With the support of the Government of Georgia, the Anaklia Development Consortium attracted British specialists and investors and I'm glad that some British companies are involved in this project,” Ambassador McKenzie told the Accent.

The construction of the Anaklia Drainage Port started on December 20, 2017. The opening of the first phase of the Port is scheduled by 2021.