Georgia negotiating with over 400 companies including Nokia to attract investments

Georgia has chosen more than 400 companies including Finnish multinational communication company Nokia and has started talks to the companies’ managements to attract FDIs to the country.

For that reason, Georgian Economy Minister Natia Turnava spoke with Mikko Lavanti, the Regional Director for Central East Europe and Central Asia at Nokia, earlier today and introduced him to the business environment of Georgia.

We introduced the Georgian business environment and investment potential to the regional director at Nokia and the opportunities Nokia would have if it begins manufacturing in Georgia,” said Turnava.

The meeting was held in the framework of Enterprise Georgia’s strategy to attract foreign direct investments to Georgia.

Turnava noted that the proposals for investors will soon be reflected in the government's post-crisis strategy and action plan. 

The strategy is developed by the Enterprise Georgia team ‘Invest in Georgia’ and the International Finance Corporation (IFC). Photo: Ministry of Economy.

Turnava said that the government will continue to meet with potential investors to better understand if their development strategies are in line with the Georgian government's post-crisis vision.

On December 16, 2019 Enterprise Georgia presented an Investment Promotion Strategy and Action Plan for 2020-2021, which aims to attract foreign direct investments in Georgia and create 3,500 new jobs in highly-paid, prospective fields. 

Based on the strategy, by direct communication with investors, the agency aims to carry out 10 large and 16-20 medium-sized investment projects worth $225 million in total.

The strategy is developed by the Enterprise Georgia team ‘Invest in Georgia’ and the International Finance Corporation (IFC).