BAKU, Azerbaijan, April 21
By Tamilla Mammadova - Trend:
The Ministry of Economy and Sustainable Development of Georgia, together with the National Bank of Georgia and the Produce in Georgia Agency, is working on a special study, which will be completed in the near future, Trend reports citing Georgian media.
The purpose of this study is to identify industries that are most promising in terms of import substitution, and also are in need of support and development.
Consulting company Galt&Taggart will also take part in this study, minister of economy of Georgia Natia Turnava noted at a video conference held on April 20 with participation of representatives of National Bank of Georgia, Produce in Georgia Agency and Galt&Taggart company.
“The global challenge of coronavirus has shown the world that greater emphasis needs to be placed on own production in each country, and Georgia is no exception,” said Turnava.
According to the minister of economics, this possibility exists both in the agricultural processing and food industries, as well as in the production of other industrial goods, including the development of building materials manufacturing and mineral processing.
The outbreak of coronavirus has dealt a serious blow to the economy of Georgia. Almost all areas of business represented in the country suffered losses, while many people were left without work. To overcome the crisis, the authorities spent three weeks in negotiations with international financial institutions to receive financial assistance.
As of April 21, the number of coronavirus cases in Georgia stands at 402; 93 patients have recovered, four people have died.
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