Economy Minister discusses investment prospects with US Export-Import Bank Vice Chair
Davitashvili also welcomed the figure of US investments in Georgia amounting to more than $1.8 billion in foreign direct investment since 1997, and noted there was “more potential” in this regard. Photo: Georgian Economy Ministry
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Prospective investments in Georgian logistics, renewable energy development, business process outsourcing and information technology were discussed by Levan Davitashvili, the Georgian Economy minister, and Judith Pryor, the Vice-Chair of the Export-Import Bank of the United States, the Economy Ministry announced on Tuesday.
Trends of the Georgian economy, its “liberal business environment” and “favourable tax regulations” for investments in the country were highlighted by Davitashvili during the meeting, with the official noting his country maintained "one of the highest rates of economic growth" in the region despite current challenges.
The discussion focused on several “priority projects,” including a high voltage transmission line connecting Georgia and Romania on the Black Sea floor to connect the energy systems of the country and the European Union and “significantly increase” the former's energy independence, the Ministry said.
The state body also revealed the Georgian delegation had raised the prospect of American companies introducing 5G technology to Georgia.
Davitashvili also welcomed the figure of US investments in Georgia amounting to more than $1.8 billion in foreign direct investment since 1997, and noted there was “more potential” in this regard.
The Georgian official began his visit to the US on Monday, holding high-level meetings with US officials and businesses through Wednesday.
A US-Georgia free trade agreement (FTA) would have a net positive effect for both countries, Georgian Foreign Minister David Zalkaliani told Brock Bierman, an opinion contributor for the American newspaper The Hill.
Georgian Economy Minister Levan Davitashvili on Monday met with Katherine Tai, the United States Trade Representative, as part of his visit to the US to discuss the prospect of establishing a free trade deal between the countries.
Georgian Economy Minister Levan Davitashvili will be on a visit to the United States between Monday and Wednesday to hold meetings with public officials and private sector representatives, the Ministry announced on Monday.
As part of his official visit to the United States, Georgian Economy Minister Levan Davitashvili met with members of the America-Georgia Business Council on Wednesday to discuss “priority areas” of bilateral economic relations, the Georgian Ministry of Economy said.
Trade relations between Georgia and the United States are entering a “new phase”, Georgian Economy Minister Levan Davitashvili said after his meeting with Katherine Tai, the United States Trade Representative, on Monday.
Establishing a free trade agreement between Georgia and the United States would be a “clear signal” of increased US economic interests in Georgia and contribute to the country’s Euro-Atlantic integration aspirations and economic development, Georgia's Ambassador to the US David Zalkaliani said on Tuesday.
Georgia’s Economy Minister Levan Davitashvili on Thursday said United States Congressmen had “clearly” expressed their political support for Georgia and willingness for even more joint projects between the two countries.
Georgia will have new, fiscally sustainable mechanisms to improve the support framework for energy projects, which will help to ensure energy independence, Economy Minister Levan Davitashvili said on Friday at a plenary session of the Georgian Parliament.
Georgian Economy Minister Levan Davitashvili on Tuesday said Germany was providing the country with “significant support” from the “very first day” of the recognition of Georgia’s independence three decades ago.
Spain with $196.1 million, the United Kingdom with $87.2 million, and Turkey with $67.1 million were the countries that invested most heavily in Georgia in the first quarter of 2022, the preliminary data by the National Statistics Office of Georgia showed on Thursday.
Georgia's United States Ambassador David Zalkaliani and Damon Wilson, the President of the National Endowment for Democracy, on Tuesday discussed the importance of further democratic consolidation in Georgia and the European perspective granted to the country by the European Commission.
A “beginning of new opportunities” in cooperation between Georgia and the United States was the focus of an address by Georgian Economy Minister Levan Davitashvili, delivered at an event marking the US Independence Day on Thursday.
The foreign direct investments in Georgia amounted to $1.24 billion last year - up 2.1 times in 2020 and 7.7 percent on the preliminary data of the year - as seen in the adjusted data of FDIs, published by the National Statistics Office of Georgia today.
Georgian Deputy Economy Minister Genadi Arveladze on Tuesday highlighted Georgia’s “liberal trade policy and effective customs regulations” at a meeting of the Steering Committee on Trade Capacity and Standards of the United Nations Economic Commission for Europe.