Georgia negotiating with over 400 companies including Nokia to attract investments
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. Photo: Nino Alavidze/Agenda.ge.
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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).
Experts from Deloitte have analysed Georgian fiscal, monetary and sectoral economic policies and given recommendations to the Georgian government at an online meeting with Georgian Prime Minister Giorgi Gakharia earlier today.
Georgian Prime Minister Giorgi Gakharia has presented the anti-crisis budget for 2020 at the Inter-Agency Coordination Council today in response to the before sending it to the Parliament of Georgia later today. "The reason and purpose of our meeting today is the anti-crisis budget for 2020. We all understand very well that the epidemic has pushed the country back economically. Today the budget will be presented to parliament and you are all here to discuss it and change our opinions", Gakharia said.
The Georgian government is working with experts from the University of Cambridge and the University of London as well as Deloitte analysts and local experts to create a post-crisis economic plan and decide what steps they should take in order to improve the Georgian economy after the coronavirus lockdown.
Enterprise Georgia has presented Investment Promotion Strategy and Action Plan for 2020-2021 earlier today, which aims to attract foreign direct investments in Georgia and create 3,500 new jobs in the highest paid, perspective fields.
The International Trade Centre (ITC) has selected 18 national trade promotion organisations including Enterprise Georgia which will take part in the 2020 World Trade Promotion Organization (WTPO) Awards.
Swiss multinational biopharmaceutical company Ferring Pharmaceuticals is ready to invest in Georgia, said Georgian Economy Minister Natia Turnava earlier today after speaking with Per Falk, the president of Ferring Pharmaceuticals.
Enterprise Georgia has been named one of the best export supporting agencies yesterday along with Sweden and Costa Rica at the World Trade Promotions (WTPO).
Enterprise Georgia has expanded its programmes from which investors can benefit. Georgian Economy Minister Natia Turnava stated earlier today that within the programme investors may receive land for symbolic 1 GEL ($ 0.3/€0.25).