Economy Minister: 'Over 1,300 new businesses to be financed within Produce in Georgia'
Turnava made this announcement today at the opening of a new factory of YTONG in the Georgian capital city of Tbilisi. Photo: Ministry of Economy.
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In order to develop local production, increase exports and gradually replace imports the government of Georgia has decided to finance over 1,300 new businesses within the state programme Produce in Georgia over the next two to three years, announces Georgian Economy Minister Natia Turnava.
While in recent years the programme Produce in Georgia has funded hundreds of new productions and spent up to a billion GEL, we have an even more ambitious plan to repeat and exceed this success in the next two or three years and finance at least 1,300 new productions and mobilise 2.5 billion GEL investment, which is a very ambitious but executable plan", said Turnava.
Turnava made this announcement today at the opening of a new factory of YTONG in the Georgian capital city of Tbilisi. YTONG is a German brand that manufactures aerated concrete blocks. The factory opened in Tbilisi within the Produce in Georgia programme
55 million GEL was invested in the project and about 200 people are employed at the factory", said Turnava.
The Produce in Georgia state programme was launched in 2014.
Georgia exported locally produced goods worth $2.61 billion in January-August 2021, which is 26% higher year-on-year, announces the National Statistics Office of Georgia (Geostat). In January-August 2021 copper ores and concentrates reclaimed the first place in the list of top export items, equalling $517.9 million, or 27.3% of total exports.
Swiss chocolate producer Camille Bloch, which made a 40 million GEL investment in the Kakheti region of Georgia and planted hazelnut orchards on 50 ha of land, expects its first hazelnut harvest by 2025. Hazelnuts harvested in Georgia will be used for Camille Bloch’s famous chocolates.
Four new programmes have been added to Georgia's export promotion agency Enterprise Georgia today. The programmes will aim to help families with newborns purchase new apartments, increase the financial availability of business loans for the maximum number of business entities, increase the country's export potential and develop agro- and eco-tourism facilities in the Georgian regions.
What does it include?
Georgian Economy Minister Natia Turnava has presented a 10-year economic development strategy which covers 12 major areas, ranging from small business empowerment, investment attraction, to specific development policies and quantitative indicators in each key area that the country should achieve by 2025 and 2030.
Ministers of Economy, Agriculture sum up state supported projects
In total 1,806 new business projects have been financed in Georgia since 2013 which created about 53,000 new jobs, while investments amounted to 2.5 billion GEL, Georgian Economy Minister Natia Turnava and Agriculture Minister Levan Davitashvili have announced today.
A new factory of Italian bread and semi-finished products, Romiveria, has opened in the Georgian capital city of Tbilisi. At the first stage the factory will produce different types of piadina, a thin Italian flatbread and in the second stage, Romiveria will start the production of semi-finished products such as ready-made sandwiches, sliced ham and cheese, and various cheeses, dry fruit and hazelnuts that will pair with Georgian wine.
New steel plant will be built in Georgia by 2023 within the Produce in Georgia state program, the Georgian government press office reported today.
Micro- and small-sized entrepreneurs in Georgia have been invited to submit their projects for a state grant, after the Enterprise Georgia state campaign announced a call for business ideas on Monday.