International investment location scouts visiting Georgia to explore investment potential
During their visit the three location consultants will get to know Georgia’s investment climate and meet with several public as well as private sector representatives. Photo: Enterprise Georgia.
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International investment location scouts from leading European and US companies KPMG, Conway, and GDP Global are visiting Georgia for the first time to discover the country's investment potential and state programmes oriented towards industrial development.
Notwithstanding the ongoing global challenges, we have managed to bring highly experienced and skilled investment location consultants to Georgia. I am happy that we have made this first, very important step forward in accordance with our strategy and action plan”, Enterprise Georgia CEO Mikheil Khidureli said.
During their visit the three location consultants will get to know Georgia’s investment climate and meet with several public as well as private sector representatives. As a result they will receive information about the investment opportunities and successfully implemented investment projects in the country.
With the aim of attracting foreign investment to Georgia and thus popularising the country’s investment potential, partnering with location consultants represents one of the main directions for our agency” said Khidureli.
During the past few years, the number of investors who utilise investment location services has increased considerably, Enterprise Georgia notes. The agency said that working with them is 'a unique opportunity' in terms of increasing awareness about Georgia’s business climate, as well as attracting investments to the country. For this reason, Enterprise Georgia is planning to organise the similar tours in the future as well.
Georgian Economy Minister Natia Turnava says that the increased rate of foreign direct investment in the second quarter of 2020 proves that despite the pandemic the Georgian economy is gradually recovering.
Foreign direct investments (FDI) in Georgia amounted to $237.8 million in the second quarter of 2020, which is a 0.5 per cent increase compared to the same period of 2019, show the latest data of the National Statistics Office of Georgia (Geostat). The largest share of FDI was registered in the financial sector, reaching $78.1 million in Q2 2020, the energy sector was the second with $29.6 million, followed by the construction sector with $27.7 million.
To tackle the economic challenges caused by COVID-19, some changes have been made to the state programme Produce in Georgia, which will now support six new economic activities in the country.
The Georgian government is launching a new programme 'State - Your Partner', which will allow individuals to receive state services and information in 81 community centers and 24 justice houses in more than 100 settlements throughout Georgia about programmes to help start or assist new business.
Foreign direct investments (FDI) increased by 35 per cent and amounted to $51.9 million in Georgia's Black Sea region of Adjara in the second quarter of 2020, show preliminary data from the press office of the government of the Adjara Autonomous Republic.
Changes have been made to the state programme of Produce in Georgia that will benefit event companies and farmers in Georgia, announced Georgian Economy Minister Natia Turnava.
Georgia’s export support agency, Enterprise Georgia, has announced the start of the forth stream of applications for the 'Co-financing Mechanism for Supporting Family-owned, Small and Medium-size Hotel Industries' to help industry players tackle the economic challenges caused by Covid-19.
The net international investment position (IIP) of Georgia amounted to negative $23.9 billion as of September 30, 2020, says the National Bank of Georgia.