Presentation of Produce in Georgia Agency

"This program enables us to write a new chapter in the life of our country, to help both established entrepreneurs and startups, innovative young people spread their wings by offering them state programs in order to create new directions in Georgia's economy," Georgian Prime Minister Giorgi Kvirikashvili stated in his speech at today's presentation of the Produce in Georgia Agency.

Starting today, the state program's implementing agency will have a new name and a renewed organizational structure. The Produce in Georgia Agency will incorporate three components: business (local production), export, and investments.

According to Giorgi Kvirikashvili, all components under the program will transform into a unified agency called Produce in Georgia. The Prime Minister hopes that this new entity will prove flexible to make state support programs more effective and efficient.

"It will have a new front office, service office, that is, which will make it easier for businesspersons and startups to conduct their business and maintain relations with the state. Along with developing entrepreneurship, we are also determined to position our country in the international arena so as to attract new investments and increase export," the Prime Minister emphasized.

According to Giorgi Kvirikashvili, the Georgian Government is actively working toward diversifying Georgia's trade markets. Georgia enjoys FTAs with the EU, Turkey, and CIS countries. In the nearest future, similar agreements with the EFTA, China, and Hong Kong will come into force. Currently, Georgia is also probing into prospects of signing an FTA with India.

"All of this creates immense potential for international and local investors. It is our goal to help investors see and use the exceptional opportunities and business environment in Georgia, this way boosting the export of Georgian products, and we are committed to doubling our efforts to this end. Moreover, several state agencies will join forces to ensure our exporters' global positioning. Produce in Georgia, the Ministry of Foreign Affairs, and the Export Promotion Agency will work together to support exporters in exploring and taking root in new markets," the Prime Minister said.

Giorgi Kvirikashvili singled out yet another novelty, the new institution of commercial attaches. The Prime Minister hopes that these envoys of Georgia, so to speak, who will work at Georgia's embassies in different countries, will actively introduce prospective investors to the opportunities in Georgia.

The Prime Minister commented on the performance of the Produce in Georgia state program and discussed its achievements. Since the launch of the program, almost 170 projects have been financed under the industrial component alone, with their total investments amounting to 400 million GEL. Over 100 million GEL have been invested in the program's agricultural component. Over 20 hospitality sector projects, with investments making up 34 million GEL, have been supported. Investments in the cinema industry exceed seven million GEL. The component for supporting micro and small enterprises deserves special mention in that it has retrained almost 9,000 beneficiaries, provided co-financing to 5,000 beneficiaries, and created over 5,000 new jobs in Georgia's rural areas.

The Produce in Georgia Agency will incorporate three independent brands: Produce in Georgia-Business, Produce in Georgia-Export, and Produce in Georgia-Investment. Minister of Economy and Sustainable Development Giorgi Gakharia introduced the audience to the agency's goals and objectives. (gov.ge)