Georgian Deputy Economy Minister discusses country’s trends, investment opportunities with Federation of Austrian Industries members

Georgian Deputy Economy Minister Genadi Arveladze on Wednesday met with members of the Federation of Austrian Industries, an organisation uniting the largest groups of manufacturers operating in the country’s industrial sector, to introduce domestic economic trends and investment opportunities.

Arveladze highlighted the “long-standing and successful economic cooperation” between the two countries, noting Austrian investments in the country exceeded $430 million and covered sectors such as construction, logistics, energy, food production, and tourism, the Georgian Ministry said.

He also emphasised that Georgia ranked third in the inaugural Business Ready report by the World Bank, adding the country maintained “one of the lowest inflation rates” in the wider region, which he said was “further evidence” of the state’s “economic stability”.

Thanks to economic policy and ongoing reforms, the country has successfully overcome external shocks, maintained macroeconomic stability and achieved impressive economic growth, which was driven by infrastructure spending, foreign direct investment and productivity-enhancing structural reforms. We expect this positive trend to continue”, Arveladze said.

The Deputy Minister also pointed out the country’s “attractive” investment environment, liberal tax rates, “low risks”, green energy initiatives and access to a “2.3 billion-strong global consumer market” through free trade deals. He further discussed ongoing strategic infrastructure projects aimed at integrating Georgia into global transport and infrastructure networks.

Following the meeting, the official added representatives from Austrian postal and banking companies had expressed interest in investing in Georgia during the discussions.

The Ministry added members of the Federation expressed “great interest” in Georgia's investment potential, suggesting closer collaboration between the business communities of the two countries, including the organisation of joint business forums and exhibitions to deepen bilateral economic ties.