The government of Georgia has announced a new state programme, FDI Grant, under the auspices of Enterprise Georgia which will promote the growth of foreign direct investments, the inflow of technologies and the creation of new jobs in Georgia, announces Enterprise Georgia agency.
The FDI Grant incentive applies to the following economic sectors:
- Production of electrical and electronic engineering products
- Manufacturing of aircraft parts and components
- Manufacture of vehicles and equipment, as well as their parts
- Export of business services/ business process outsourcing (BPO)
- Developing warehouses and logistic centers
- Aircraft repair and maintenance (MRO)
The eligibility criteria include:
- An international company participating in the programme will have the obligation of investing at least 10 million GEL (about $3 mln) and create a minimum of 150 jobs.
- For companies operating in the field of business process outsourcing (BPO), the minimum amount of investment is 5 million GEL (about $1.5 mln), with the creation of at least 200 new jobs.
Upon fulfillment of the investment obligation, companies will get cashback of up to 1 million GEL (about $300,000).
Companies interested in applying to the programme have to send an application to Enterprise Georgia, the export promoting agency that is implementing the new programme, along with their investment project business strategy.