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INNOVATION, ECONOMIC GROWTH, AND INVESTMENT ENVIRONMENT
Devi SHONIA
Sokhumi State University,
Tbilisi, Georgia.
Abstract
IN GEORGIA
Georgia is in difficult process of developing. Countries economical innovative activity, brand management and
process of image formation, should be discussed together, which determines the recovery and improvement of
the investment environment. Innovative development of the economy in recent years, its achievements and
participation of various citizens were reflected in international rankings which take a big influence on investment
flows in the country. Georgia, as dependent on the investments, needs to provide more active and aggressive
policy for attracting investments, as far as country’s internal capital market is still undeveloped and its economic
growth is depended on external sources of funding – direct foreign investment. The gaps should be a serious
problem for those who make investment policy of the country. Only to maintain the liberal economic course,
regulations, taxes, reducing corruption and macro factors will not be enough to achieve the goal. Innovative
development of economy and improvement of investment environment is available if country provides targeted
policy: Understanding correctly changes which is in society and in the environment, determining real factors of
country’s advantages and profitability, constant cooperation of government, business, education and art, inserting
people in this process, affecting on society consciousness, creating and understanding those values which are near
to peoples spiritual world.
Research methodology. The methodology of the study is represented by the papers and works of the world's
leading specialists and the experts of the specific problem, the researching materials by international and local
scientific organizations, the analyses of the result of Georgia's economics innovative activity and its developing
process study. Methods used and/or approach taken; casual research, analytical model, verbal model, graphical
model.
Results and implications: Representing of the marketing look about the necessity of the economics innovative
activity and the country’s image branding development; the validation of the tight intercommunication of the
economics innovative activity, the country’s image and the brand-management. Representing of the impact of the
economics innovative activity and the country’s image on the Georgia’s investment environment as well as on the
international commercial economic relations; The validation of the necessity of the marketing transformation from
the point of Georgia’s investment attraction and country’s image development. Results and/or arguments
summarized (The impact of Georgia’s economics innovative activity and the process of the branding of the
country’s image of the last years on the investment environment).
Keywords: innovative activity, country's Image, investment environment.
Introduction
Georgia is in difficult process of developing. Countries economical innovative activity, brand
management and process of image formation, should be discussed together, which determines
the recovery and improvement of the investment environment. Innovative development of the
economy in recent years, its achievements and participation of various citizens were reflected
in international rankings which take a big influence on investment flows in the country.
Georgia, as dependent on the investments, needs to provide more active and aggressive policy
for attracting investments, as far as country’s internal capital market is still undeveloped and its
economic growth is depended on external sources of funding – direct foreign investment. The
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