New projects planned in energy, logistics, real estate and manufacturing in Georgia

New projects planned in energy, logistics, real estate and manufacturing in Georgia

Baku, Azerbaijan, March 5

By Tamilla Mammadova – Trend:

New large-scale investment projects are planned to be launched in Georgia, especially in the fields of energy, logistics, real estate and manufacturing that will promote increase in Foreign Direct Investment (FDI) during the next several years in the country, Produce in Georgia Agency told Trend.

"We expect that in the short and medium term, perspective and existing investors will continue reinvesting in Georgia contributing to stable FDI inflow", said the representative of agency.

According to the agency, in the long-term period, priority of Georgian government is to attract quality investments in the real sectors of economy, implement investments in the high-tech fields and apply the knowledge and technologies.

The government takes active steps to attract investments in the high value-added sectors, which will contribute to the acceleration of net export-driven economic growth and reduction of external vulnerability, the agency said.

"Hence, it is important to increase not only the volume of FDI, but the share of quality, high-tech and knowledge transfer-based foreign investments in the total FDI as well", said the representatives of agency.

As the agency noted, government of Georgia actively works to raise awareness about Georgia as a great destination for companies from all around the world, whether it’s to enter the regional market, the European or Asian markets.

The Produce in Georgia program was created in the summer of 2014 to stimulate local production and offers two main incentives: financial resources and infrastructure (land, buildings, etc.). In April 2017, the agency of the same name was created, which combined all state programs aimed at promoting the business sector and economic development of the country.

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