Economic Development Corporation has been established in Georgia. It will be led by Irakli Gabriadze.
Addressing the presentation, Prime Minister Irakli Kobakhidze said the corporation establishes yet another powerful tool for strengthening cooperation between the state and the business sector, and for fostering the rapid development of the economy.
“Today, we officially present a significant initiative, the Economic Development Corporation, which aims to establish yet another very powerful instrument for strengthening cooperation between the state and the business sector, and for fostering the rapid development of the economy,” he said.
According to the PM, through correct economic policy pursued by the government, the Georgian economy is developing rapidly, the capabilities of the private sector are increasing, and this process requires further support.
The progress we have achieved in the economic sphere was significantly boosted by the establishment of the Produce in Georgia agency in 2014, which has delivered concrete, tangible results. Between 2014 and 2025, more than 20,000 entrepreneurs benefited from government programs; investments totalling up to 8.5 billion GEL were made, and approximately 90,000 jobs were created.
The number of people employed in the small and medium-sized business sector increased from 405,000 to 544,000, while the value of output grew from 14.8 billion to over 54 billion. In medium-sized companies, employee compensation rose from 998 to 2,760 GEL, a figure that even exceeds the compensation levels found in large corporations. The export volume of small and medium-sized enterprises increased from USD 1.3 billion to 2.7 billion.
We need a broader and long-term vision to maintain these achievements. Besides strengthening business, we need to expand the scale of government support. Therefore, by unifying the knowledge and financial resources accumulated in various institutions, we established the Economic Development Corporation. This is not only a structural change. Our goal is to make the support provided to entrepreneurs even more coordinated and result-oriented,” said the Prime Minister.
