Gov’t invests 46m GEL to bolster domestic production
Tweet 
Share
The Georgian Government plans to stimulate domestic production and develop production-oriented industries through a new state program named Produce in Georgia.
Prime Minister Irakli Garibashvili, who initiated the program, presented his plan to Government members and business representatives on May 19. In his address, Garibashvili said Georgia had "great potential” to produce various products by its own and not be dependent on imports.
"Our idea and decision is to rebuild Georgian production in every region, district and village and bolster its revival. This will bring new jobs, additional income and welfare for people," Garibashvili stated.
The Government will invest 46 million GEL into the program. PM Garibashvili said the program would support any entrepreneur who decided to create a new venture. These people will be given depreciated buildings at a low price and will also be eligible to receive low interest rate loans. In addition, those living in the regions will enjoy additional privileges.
The Prime Minister said Georgia had the opportunity to have its locally-made products compete on a global scale.
"The program, Produce in Georgia, should become a Georgian Brand - Made in Georgia. These products will be released on grounds of international standards, meet all requirements and successfully compete with foreign products not only in Georgia but also abroad,” Garibashvili believed.
"Georgian products are going to enter the European market very soon and the label - Made in Georgia – could have an absolutely different meaning. Our goal is to revive production in Georgia and I believe we will achieve this," PM added.
The new state subsidiary program will begin on June 1 and will be jointly coordinated by the Ministries of Economy and Agriculture.
The total budget of the program is set at 46 million GEL. Of this, 30 million will be spent on agricultural production and processing while 16 million will be spend on developing industrial production of Georgian products.
About 75, 000 Georgian farmers with small farms in the Shida Kartli region will receive a share of 8 million GEL of state aid this year to help boost their businesses.
Georgia’s agriculture and trade sectors increased significantly in 2013 and contributed to boosting the country’s gross domestic product (GDP).
Five-months of problems surrounding the export of Georgian wine to Belarus have been rectified.
The top five exported commodities to Russia are wine (30%), mineral water (18%), ferro-alloys (7%), electricity (6%) and citruses (4%).
Georgia has become the third largest wine importer in Russia, outrunning Spain, in the first three months of 2014, Hvino News reported based on the data of Russia’s Customs Service.
The implementation of a Deep and Comprehensive Free Trade Area (DCFTA) between the EU and Georgia may create attractive conditions for Polish exports and investments in Georgia, a bulletin reports.
The Partnership Fund will invest $2.3 million USD in a local construction company with the purpose of replacing imported industry goods with locally made ones and support the development of local manufacturing.
The Government of Georgia has approved two new projects within the ‘Produce in Georgia' scheme, in which 46 million GEL will be invested into the country’s agricultural sector as a way to stimulate domestic production and develop production-oriented industries.
Georgia’s Ministry of Agriculture has presented more than 100 new enterprises funded by various Government programs to enhance and develop the country’s agricultural sector.
We are planning major changes in some very important fields of our country, Georgian Prime Minister Irakli Garibashvili said on the annual press-conference today.
The Government of Georgia is financing 119 enterprises involved in Georgia’s agricultural sector, announced Minister of Agriculture Otar Danelia at today’s Governmental meeting.