Business Association of Georgia says 63% of member companies plan to increase investments in 2023
The Business Association of Georgia on Thursday published the results of a survey that said 63 percent of its member companies planned to increase the volume of their investments this year. Photo: Nino Alavidze/Agenda.ge
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The Business Association of Georgia on Thursday published the results of a survey that said 63 percent of its member companies planned to increase the volume of their investments this year.
Collected in the first quarter of the year, the survey also saw 28 percent of the member companies say they would keep investment levels unchanged this year, while nine percent predicted a decline.
The Association, which brings together around 100 companies, said the construction sector had shown the “most optimistic” investment expectations in 2023.
It noted 75 percent of surveyed companies in the industry planned to increase investments, while for the trade sector the figure stood at 64 percent.
Among companies in the service sector 63 percent indicated plans for increasing their investments, while in the industrial sector 45 percent projected annual increase of their total investment volume.
Small startups in Georgia have been urged to submit business ideas to the latest edition of a grant programme from the country’s Innovation and Technology Agency, with the chance of gaining $56,611 in co-financing support.
Georgian brands producing toys are featured at the ongoing Spielwarenmesse Fair in Germany, while companies from the country that make children’s clothing are among exhibitors at Playtime Paris in the French capital.
Georgian Deputy Economy Minister Irakli Nadareishvili on Wednesday said increasing the effectiveness of the small and medium-sized business sector was a “priority direction” of the Georgian Government’s economic policy.
Georgian Economy Minister Levan Davitashvili on Monday said foreign direct investments in the country had exceeded $2 billion in 2022, setting a “historic high” mark.
Investment consultants and managers from the world’s leading BPO companies on Friday praised Georgia’s positive dynamics in the industry, as well as the country’s investment potential.
The positive dynamics of the BPO services in Georgia and the opportunities that the country can offer to foreign companies were discussed on Friday by Georgian Economy Minister Levan Davitashvili and the investment consultants from the world’s leading companies in the industry.
Georgian Deputy Economy Minister Irakli Nadareishvili on Friday said the domestic startup ecosystem was “growing, competitive and takes a worthy place” on the global map of innovative projects.