Major investment funds enter Georgian market
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Several large international investment funds will soon invest significant sums of money in Georgia to support the country’s development across various sectors of the economy.
At today’s Governmental meeting Georgia’s Prime Minister Giorgi Kvirikashvili spoke of the new cooperation between Georgia’s state-owned shareholding company the Partnership Fund and major investment funds, and of the "important agreements” the PF was about to sign.
When all the deals are penned, several large investment funds will begin operating in Georgia and support local development projects.
Kvirikashvili said for the first time the PF will invest in an international consortium that focuses on supporting small and medium-sized enterprises (SMEs) in Georgia, announced the PM’s press office today.
Prime Minister shared this news with his followers on his official Twitter account:
Happy to announce major #investment funds are entering #Georgia and will be supporting local development projects https://t.co/O4SNv2x9ha
— Giorgi Kvirikashvili (@KvirikashviliGi) 29 September 2016
Additionally, the PF will partner with the Canadian investment fund – the Gazelle Finance fund. The initial capital of the Gazelle Finance Fund will be $27.5 million USD however its investment amount will increase by $70 million.
The Gazelle Finance website says the institution is in the final stages of fundraising for a special purpose investment fund targeting four countries in the region: Georgia, Armenia, Kyrgyzstan, and Moldova.
Gazelle Finance expects to close the fund later in this year (2016) and is positioned to launch investment operations immediately thereafter," said the Fund's website.
The PM’s press office said the Gazelle Finance would finance projects in the wider region however it had chosen Georgia as its regional hub where the Fund will spend 60 percent of its capital.
This is a very important factor that the … Gazelle Finance chose Georgia as its place of operation. Also partners of the [Gazelle Finance] Fund include Dutch state-investment fund, the Dutch Good Growth Fund (DGGF) and the Netherlands Development Finance Company (FMO),” said Kvirikashvili.
Also today the PM told how the PF was helping fund projects in Georgia’s energy sector.
Already the PF had agreed with US investment group Schulze Global Investments to support Georgia’s development, and was currently negotiating with European investment groups to also support Georgia’s energy-related development projects.
Schulze Global Investments is a very serious international financial fund that is going to enter Georgia. Together with the Partnership Fund, it will invest in Georgia,” announced Kvirikashvili today.
He added "in the nearest future” the Partnership Fund planned to work with two large investors – the Maclellan Foundation from the US and French investor Dominique Romano – who will each pledge to invest $10 million in Georgia.
The United States government’s Overseas Private Investment Corporation (OPIC) is teaming up with Georgia’s state owned investment fund, the Partnership Fund (PF) to mobilise investment capital to finance a range of new projects in Georgia.
Georgia seeks to tighten business ties with US
Easy bureaucracy, low initial capital needed to start a business and a plethora of opportunities in niche markets are the main things encouraging United States (US) citizens to invest in Georgia.
A state-owned shareholding company Partnership Fund (PF) has completed working on the concept of developing Georgia’s Racha region together with an international network of public accounting, tax and advisory firms, BDO.
Georgia is looking for ways to deepen cooperation with its partners in China and encourage more Chinese investors into the country.
Georgian ambassadors are shedding light on the country’s promising business and investment climate to investors and authorities in the Great Britain and Serbia.
A group of entrepreneurs from the United States will visit Georgia next year to familiarise themselves with the Georgian market and investment opportunities.
The Georgian Co-Investment fund has a new chief executive officer: Tsotne Ebralidze who is replacing George Bachiashvili in the post.
The Government of Georgia has presented a bill on investment funds earlier today at a government meeting which aims to develop investment funds in Georgia and ensure free competition.