1,806 projects, 2.5 bln GEL in investments, 53,000 jobs:
Ministers of Economy, Agriculture sum up state supported projects
Economy Minister Turnava said that each GEL spent under the state programme Produce in Georgia allows to attract 16 times more private investment. Photo: Ministry of Economy.
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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.
The two ministers have summed up the activities of sub-departments of Enterprise Georgia and the National Agency of State Property within both ministries.
Turnava presented the interactive map of state-supported business projects which is available at www.programs.gov.ge.
Turnava said that each GEL spent under the state programme Produce in Georgia allows to attract 16 times more private investment.
She said that Produce in Georgia unites three main directions which are:
- Industrial component and credit-guarantee mechanism - 833 new projects, 1.8 million GEL investments, 30,000 jobs
- Programmes under the auspices of the Rural Development Agency - 856 new projects, 444 million GEL investments, 13,000 jobs
- National Agency of State Property - 117 new projects, 182 million GEL investments, 10,000 jobs
Turnava said that in order to develop local production, increase exports and gradually replace imports the government of Georgia had decided to finance over 1,300 new businesses within Produce in Georgia over the next two to three years.
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.
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.
'Produce in Georgia' state programme will introduce a new programme providing co-financing on loans taken out by families with newborn children to buy a new apartment, announces Georgian Economy Minister Natia Turnava.
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.
Ryan Strategic Advisory has published a research paper on business process outsourcing (BPO) opportunities in Georgia, which reads that the country has come onto the outsourcing scene 'with a tight, targeted business services offering that is attracting the attention of executives across western demand markets'.
The Georgian Co-Investment Fund, backed by former Georgian prime minister billionaire Bidzina Ivanishvili, has denied its connections with the Black Sea Poti Free Industrial Zone and stated that offshore registered companies which are managed by the Co-Investment Fund ‘do not own property and / or assets in the Poti Free Industrial Zone and / or any other company, either directly or indirectly'.
New steel plant will be built in Georgia by 2023 within the Produce in Georgia state program, the Georgian government press office reported today.
A new processing plant has been launched in Rustavi, outside capital Tbilisi, in a ₾30 million ($11.34mln) project for producing "high-quality asphalt of a Euro standard", the Ministry of Economy said on Thursday.