Georgian Gov’t approves 5 new businesses to boost economy
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Five new businesses will open in Georgia's regional areas under the 'Produce in Georgia' scheme to help boost the Georgian economy.
The new enterprises will be established in Rustavi, Khobi, Vani and Abasha municipalities and will begin operating in two years' time after being approved today at a Governmental meeting, reported Georgia's Minister of Economy and Sustainable Development Giorgi Kvirikashvili.
Manufactured products will be sold at local level as well as export markets.
"We have made some changes in the parameters of Produce in Georgia. From now on the state’s share in the mortgaging guarantee, which is required by the banking institutions for their approved projects, will be 50 percent instead of 30 percent. This decision is very important for the representatives of small and medium business to be involved in our program, Produce in Georgia,” Kvirikashvili said.
One of the five new enterprises, Pigaro Ltd. will get a 32,130 sqm piece of non-agricultural land in Khobi in western Georgia at "a symbolic price". The company was obliged to establish the business to produce construction materials and plastic production. Pigaro Ltd. will invest 1.66 million GEL to implement this project and employ 30-50 people. The products produced at the factory will be sold in local market.
Within the Produce in Georgia scheme, TBC Bank has approved a preferential loan worth $5 million USD for CBC Ltd., who will establish a household waste collection metal containers enterprise.
Another of the new businesses will see the country's first hot-dip galvanization enterprise business established in Georgia.
Georgian Laurel Ltd. will build a bay leaf producing business, for which the company will invest 247,200 GEL. The enterprise will be built in Bzvani village, which is located in the Vani municipality. The factory's products will be exported to China, Turkey, Korea, Bulgaria, Vietnam and Poland.
Also, a milk factory will be built in Abasha municipality by Abasha Milk Factory Ltd. The company will invest just over 2.5 million GEL and employ 150 people. The products produced will be exported to Russia, Azerbaijan, Armenia and Turkey.
A building materials factory will be opened in Rustavi by Reabas Ltd., in which the company will invest 1.45 million GEL and employ a minimum of 10 people. The factory's products will be sold to the local and international markets.
A multi-million dollar greenhouse has opened in the Kapanakhchi village in Georgia's Gardabani region within the framework of the state program Produce in Georgia.
An old shopping centre built in the Soviet times on the capital city’s main Rustaveli ave has a new owner and a new future. The building, commonly known as the Univermagi building, is located near Freedom Square in central Tbilisi.
Georgian tomatoes might be one of the first vegetables to replace imported vegetables in Georgia.
One year on from the establishment of the Produce in Georgia program, 90 new projects with a collective investment portfolio of $252 million USD have been implemented in the country, says Georgia’s Economy Ministry.
A new brand of Georgian lemonade is set to hit the local and international market at the end of this month following the establishment of a new lemonade factory.
A new enterprise has opened in Georgia that will benefit the country’s construction sector, support the economy and employ the local population.
Adding a new line to Georgia’s railway system, installing roof-top solar panels and boosting tea production in Georgia are some of the initiatives that were voiced at today’s Economic Council Meeting.
A new high-tech factory has opened in Georgia’s capital Tbilisi to produce pharmaceutical products by using the healing potential of Georgian flora.
Four million GEL was invested in the new Geocap company, which was implemented under the ‘Produce in Georgia’ state program.
Two new fruit and vegetable processing factories are opening within the ‘Produce in Georgia’ state program, which supports development of industry in Georgia.
The Government of Georgia has approved two new projects within the ‘Produce in Georgia' scheme, in which more than one million GEL will be invested into the country’s business sector to stimulate domestic production and develop production-oriented industries.