FDI Grant: new state programme to support foreign investment projects in Georgia
Companies interested in applying to the programme have to send an application to Enterprise Georgia along with their investment project business strategy. Photo: Nino Alavidze/Agenda.ge.
Tweet 
Share
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.
From now on, about 150,000 companies in Georgia will be able to use automatic systems to claim their surplus VAT refund generated on the basis of VAT declaration, announces Georgian Prime Minister Giorgi Gakharia.
Georgia's Innovation and Technology Agency has announced a 100,000 GEL co-financing grant competition for the sixth time.
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.
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.
Swiss chocolate producer Camille Bloch has entered Georgia with the support of the country's investment attraction agency, Enterprise Georgia.
Foreign direct investments (FDI) in Georgia amounted to $616.9 million in 2020, down 52.9% from 2019, show the latest data of the National Statistics Office of Georgia (Geostat). Transferring of ownership from non-resident to the resident units in several companies is considered to be the main reason for the decline of FDI which reduced the value of foreign direct investments by $340.5 million.
Finnish corporation Nokia has expressed an interest in entering the Georgian market, announces the Ministry of Economy of Georgia. Georgian Deputy Economy Ministers Genadi Arveladze and Irakli Nadareishvili met with regional Vice-President of Nokia Mikko Lavanti earlier today to discuss areas in which Nokia could invest in Georgia.
Georgian Prime Minister Irakli Garibashvili has today appointed Vazil Hudak, former Vice-President of the European Investment Bank (EIB) and former Minister of Economy of Slovakia, as his special adviser on foreign investments.
Lithuanian company Girteka, one of the largest logistics companies in Europe, will invest €1 million and create 400 jobs in Georgia over the next three years as part of the FDI Grant programme under the auspices of Georgia’s export promotion agency Enterprise Georgia.