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Japan remains key investor for Georgia in energy, infrastructure, transport areas

Business Materials 30 January 2021 07:01
Japan remains key investor for Georgia in energy, infrastructure, transport areas

BAKU, Azerbaijan, Jan. 30

By Tamilla Mammadova – Trend:

Georgian Minister of Economy and Sustainable Development Natia Turnava signed an agreement on liberalization, promotion, and protection of investments between Georgia and Japan, Trend reports via Georgian media.

The agreement aims at the stimulation of entrepreneur investment and economic relations intensification.

Turnava met with the Japanese Ambassador to Georgia Imamuma Akira.

Turnava said Japan was a key investor for Georgia in energy, infrastructure, agriculture, and transport spheres. She said 26 companies with the participation of the Japanese capital investments function in Georgia. Energy giant TEPCO Renewable Power (TEPCO RP) acquired 31.4 percent shares in one of the Georgian energy system’s largest projects.

Japanese Ambassador to Georgia said that the agreement would be a good signal to international businesses to contribute to the attraction of foreign investments to Georgia.

Turnava said the Georgian government would do its best in the post-COVID period to get more Japanese investors interested in Georgia to create new jobs.

In addition, Georgia and Japan signed an agreement on the evasion of double taxation between the two countries. Finance Minister Ivane Machavariani and Japanese Ambassador to Georgia Imamuma Akira inked the document.

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