Georgian PM: Govt’s strategy includes large investments in renewable energy, plan to use country’s “strategically” important location
He noted the country had four free industrial and economic zones, which was a “rare opportunity” for foreign companies to invest and create enterprises in Georgia, as well as in Azerbaijan. Photo via Government Administration
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The Georgian Government has developed a strategy with large investments in renewable energy, including solar and wind energies, and a plan to use “this cheap energy” and the “strategically important” location of the country, Georgian Prime Minister Irakli Garibashvili said on Thursday at a panel discussion Eurasia's Middle Corridor: From Pathway to Highway within the framework of the World Economic Forum in Davos.
In his address Garibashvili highlighted that Georgia had “one of the best” business environments and was ranked in the top ten easiest countries for doing business, in the top 20 in economic freedom and in “many other rankings”, the Government Administration said.
He noted the country had four free industrial and economic zones, which was a “rare opportunity” for foreign companies to invest and create enterprises in Georgia, as well as in Azerbaijan.
The Head of the Government also said the so-called roadmap had been signed by Georgia, Kazakhstan, Azerbaijan and Turkey, in Aktau in November, for the development of the Middle Corridor for 2022-2027, which would help the countries to agree on the next steps.
Georgia ranks high in the region as a good place to do business despite challenges, the 2022 Investment Climate Statements, released by the United States Department of State on Thursday, said.
Georgia has ranked 63rd among 191 countries in the United Nations' Human Development Index 2021-2022, maintaining its place on the list of the countries with a “high level of human development”.
Georgian Prime Minister Irakli Garibashvili on Wednesday said the country was aiming at becoming a “hub” for renewable energy generation and transit, in remarks at the ongoing World Economic Forum in Davos.
Georgia’s energy sector is in “an active phase” of development and the country’s goal is to “effectively” use the “huge” unused potential of renewable energy through hydro, wind, solar, and other energy-sufficient directions, Romeo Mikautadze, Georgia’s Deputy Economy Minister said on Saturday at the 13th session of the Assembly of the International Renewable Energy Agency in Abu Dhabi.
Georgian Prime Minister Irakli Garibashvili on Thursday said the security and prosperity of Georgia contributed to global stability and noted he was honoured to participate in the World Economic Forum’s panel discussion on Eurasia’s Middle Corridor.
The 2023 Investment Climate Statements of the United States Department of State on Thursday highlighted business and investment conditions in Georgia as “sound”, adding the country “favourably” compared to regional peers.
The United Kingdom, Spain and the Netherlands were the major foreign direct investor countries in Georgia in the past year, the National Statistics Office of Georgia said on Tuesday in its adjusted data. Investors from the UK led the statistics with $437mln, with Spain second with $360.5mln, and the Netherlands in third with $196.2mln.
Georgian Prime Minister Irakli Garibashvili on Tuesday hosted Philippe Guitard, the Senior Executive Vice President of Central and Eastern Europe from French Veolia Group, a leading company operating in the energy sector and providing services to meet environmental challenges.