Georgia approves new incentive program

The world is going through a difficult period due to the Covid-19 outbreak. The COVID-19 pandemic that turned into a pandemic is a global health crisis. All sectors were very affected by this situation. In order to overcome the crisis, first of all, it is necessary to attract foreign investment and help the business sector at the state level.
Osman Çalışkan Mzhavanadze, President of the International Foreign Investors Association, said, “In order to overcome the economic crisis and attract foreign investment to Georgia, the Georgian Government approved the new state program" Foreign Investment Incentive Mechanism "" INVEST IN GEORGIA ". Program '' Enterprise Georgia '' (http://www.enterprisegeorgia.gov.ge/en/News/the-state-program-fdi-grant). The aim of the program "INVEST IN GEORGIA" is the growth of foreign direct investments in the country, the flow of technology and new It is to encourage the creation of jobs. ''
Osman Çalışkan Mzhavanadze, who gave detailed information about the program, said a new program "INVEST IN GEORGIA" applies to the following economic sectors: Production of electrical and electronic engineering products Manufacturing of aircraft parts and components Manufacture of machinery and equipment (machines) and their parts Export of commercial services / Outsourcing in business process (BPO); Developing warehouses and logistics centers; Aircraft repair and maintenance (MRO); New program "Foreign Investment Incentive Mechanism", (INVEST IN GEORGIA) Entering Georgia, making new production or rebuilding existing production Foreign capital companies that are committed to investing at least 10 million GEL in the Georgian economy and want to employ at least 150 people will be supported by the government up to GEL 1 million. If the entrepreneur wishes to be included in the program, the business plan of the relevant investment project will be supported. Produce in Georgia An application to the agency '' Enterprise Georgia '' Offers rmu. An agreement is made between "Enterprise Georgia" and the investor to start the implementation of the project with a maximum duration of 39 months by undertaking the investment commitment of the investor.
Referring to the difficulties that foreign investors will experience in Georgia due to the Covid-19 pandemic, Osman Çalışkan Mzhavanadze said, “It is not easy for foreign investors to invest in Georgia, investors face some problems, one of these problems is the problem of qualified personnel, so the quality of the work is directly related to the quality of the work. We should try to increase the number of personnel. Our country is heavily dependent on imports, but we need to improve local production, increasing local production will help the country's economy develop and create new jobs. We, as an international foreign investors association, are ready to work with the Georgian government and foreign investors to encourage more foreign investment in the country. Even under pandemic conditions, we should try to increase local production and create more jobs so that Georgian citizens will not have to work in other countries ”.