Agriculture Minister: agribusiness production has increased by 112% over decade
Overall investments in the agricultural industry totalled ₾6.2 billion ($2.470 bln) last year, of which the state provided ₾1.6 billion ($637,541 mln) in co-financing, the official also cited from the figures, adding new initiatives and programmes were being launched annually to increase the state support for expanding the sector. Photo: Ministry of Environmental Protection and Agriculture of Georgia
Tweet 
Share
Georgian Agriculture Minister Otar Shamugia on Thursday told the country’s Parliament the rate of agribusiness production had grown by 112 percent over the past 10 years, with a 14 percent growth marked in 2022 figures compared to the previous year.
In his report on the Ministry’s 2022 work and related statistics, Shamugia told lawmakers the industry's added value had increased by 96 percent and amounted to ₾4.4 billion ($1.753 bln), a 13 percent rise compared to 2021.
Unemployment in rural areas decreased by 6.7 percentage points to 15.7 percent over the past decade, with a 2.5 percent reduction from 2021 figures shown in 2022 statistics, he also said.
Overall investments in the agricultural industry totalled ₾6.2 billion ($2.470 bln) last year, of which the state provided ₾1.6 billion ($637,541 mln) in co-financing, the official also cited from the figures, adding new initiatives and programmes were being launched annually to increase the state support for expanding the sector.
Shamugia also told MPs increasing the competitiveness of Georgian agricultural produce was necessary for maximising their potential for the European Union market.
He also noted domestic regulations had been introduced between 2015-2022 for hazard analysis, critical control points, food safety, veterinary and plant protections under the Deep and Comprehensive Free Trade Area agreement, signed by the Georgian Government with the EU in 2014.
Romeo Mikautadze, the Georgian First Deputy Minister of Economy and Sustainable Development, on Thursday said his office had signed 60 deals with investors worth $800 million last year that were expected to add more than two billion kWh to the local energy generation annually.
Georgian authorities have improved the country’s public financial management systems, the World Bank said on Thursday in its 2022 Public Expenditure and Financial Accountability assessment, which compared improvements to the institution’s 2018 report.
Georgian Agriculture Minister Otar Shamugia on Thursday told the country’s Parliament the “responsibility” of the Government to “maintain peace [and] prevent a difficult political, social and economic situation” in the country had gained a further significance since Russia’s invasion of Ukraine.
Georgian Economy Minister Levan Davitashvili on Thursday highlighted the potential of the new Central Park Towers project, a $300 million hotel hub of 1500 rooms in 25 five-star hotels in Georgia's capital Tbilisi, for attracting more visitors to the country.
Protected natural areas across Georgia will benefit from a new 10-year deal between the country’s ministries of environment, culture and economy on the one side, and the United States Department of the Interior on the other, with the cooperation aimed at protecting the environment, safeguarding cultural and natural heritage and developing tourism.
Georgia has exported locally produced goods worth $3.58 billion between January and July of the current year, marking a 15.9 percent year-on-year increase, the National Statistics Office said on Monday.