Georgian Economy Minister emphasises Gov’t’s “commitment” to sustaining economic growth

Georgian Economy Minister Levan Davitashvili on Tuesday outlined the Government’s “commitment to actively work towards” sustaining economic growth in the short term while “laying a solid foundation” for long-term development of the country.

Speaking at a panel discussion at the Georgian Business Association Conference, Davitashvili emphasised the “high priority” given to the development of transport and logistics infrastructure, citing “significant progress” in recent years.

Highlighting flagship projects such as the Anaklia deepwater port project in the country’s north-western Black Sea town, railway modernisation, works on the East-West highway, the Black Sea submarine cable project for a new transmission route to deliver green energy from the South Caucasus to Europe - and development of logistics infrastructure, he underscored their “transformative potential” for the country's development.

Davitashvili also underlined the importance of the project for new international airport of the capital city of Tbilisi in meeting the “growing demand” in the tourism sector.

The Minister highlighted the emergence of new service sectors, particularly the information and technology industry, which he said had seen an increase in exports.

With an export value of almost $800 million in 2023, the sector is expected to exceed $1 billion this year”, he said.

Davitashvili emphasised the sector's “special dynamics” and “knowledge-oriented nature”, with potential to bolster the country's position in “various areas”.

The Minister also stressed the need to leverage technological advancements to enhance traditional sectors of the economy, increase productivity, and maximise the utilisation of domestic resources.