BAKU, Azerbaijan, Nov. 13
By Tamilla Mammadova – Trend:
By 2020, the volume of attracted investments in the Hualing Free Industrial Zone (FIZ) of Georgia exceeded $70 million, the FIZ told Trend.
The Hualing Free Industrial Zone, operating since October 2015, is one of the most important investment projects of the Hualing Group in Georgia.
Hualing FIZ covers an area of 36 hectares and is located in the city of Kutaisi, an industrial city. Based on its location and various operational advantages, FIZ H serves as an excellent logistics center for expanding the business to the countries of the South Caucasus, Central Asia, and Europe," the FIZ noted.
According to the source, at present, about 120 companies are already enjoying the advantages of Hualing FIZ, including dozens of Azerbaijani import-export companies. Among them - 13 factories operating at full capacity, engaged in the production of wood, building materials, ferroalloys, pharmaceuticals, solar modules, ethylene, textiles, and plastics.
"Hualing FIZ also has trading companies that import finished products and raw materials from all over the world, exporting them to regional markets. By 2020, the volume of attracted investments exceeded $70 million. Products that are manufactured on the territory of Hualing FIZ", receives a certificate of origin "Produce in Georgia", which allows these materials to be exported to the CIS countries, the EU, Turkey, and others, in many cases without customs duties or under a simplified customs regime," the FIZ said.
According to the source, companies that are interested in starting production at Hualing FIZ are given a unique opportunity to take advantage of access to financial resources provided by the Georgian government. The investor gets the opportunity to receive financing from a commercial bank, and as collateral, the state gives a guarantee of up to 90 percent on the full loan amount. Hualing FIZ is the only free industrial zone in Georgia that offers ready-made buildings, at exclusive rates for warehousing and production activities (assembly/disassembly, packaging, production, processing, etc.).
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