19.Nov .2020 17:00

On Whose Advice the Government Has Identified the Areas Where “FDI Grants” Will Be Issued

On Whose Advice the Government Has Identified the Areas Where “FDI Grants” Will Be Issued
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The government is launching a new program to attract foreign investment. As it was decided at today's session, the government will help the investor, who will invest 10 million and employ at least 150 people, with 1 million GEL.
 
The new program will cover manufacturing, electronics engineering, mechanical engineering, manufacturing of machinery and equipment and parts, logistics and warehousing, aircraft repair, maintenance, and more.
 
Bm.ge asked the Minister of Economy and Sustainable Development, on what basis did the Ministry select these fields.

"This form of co-financing is an accepted and proven mechanism that operates in different countries if the focus is on attracting foreign investment. As for the list of specific fields, we are assisted by foreign consultants in "Enterprise Georgia." During the pandemic, we also had meetings with location managers who advised foreigners on where to place their businesses. We have provided tips on what fields may be interesting in Georgia.
 
It's not just machine-building; other industries are also attractive. Consultants have also advised us that these industries are attractive; most jobs can be created here. We think this is a mechanism that will be an additional incentive for investors to open a new venture or move the existing ones, "Natia Turnava said.