PM opened the International Investment Forum – Kakheti 2019

Kakheti International Investment Forum was held in Tsinandali, the hotel "Radisson Collection," which hosted more than 20 international and 150 Georgian companies.

The forum was organized by the Ministry of Economy and Sustainable Development of Georgia "Produce in Georgia" with the support of Kakheti municipality and Kakheti Regional Development Agency Office (DMO).

According to organizers of the event, the forum aims to introduce investment opportunities in Kakheti region for potential investors. The competitiveness of the Georgian economy was discussed at the regional and global level. Besides, the forum participants talked about the ways to develop foreign trade and attract foreign direct investment.

The event brought together members of the Georgian government, representatives of the diplomatic corps, and high-ranking foreign investors. The principal goal of the forum is to discuss future investment prospects and to attract more significant investments in the region of Kakheti.

Prime Minister of Georgia Mamuka Bakhtadze, Vice Prime Minister Maia Tskitishvili and other government officials, including Minister of Economy and Sustainable Development Natia Turnava and Minister of Environment Protection and Agriculture Levan Davitashvili, welcomed the guests.

The work sessions of the Forum focused on such issues as agricultural potential in Kakheti Region, investment opportunities in tourism and hospitality Sector. One of the meetings of the Forum was devoted to investment opportunities in the renewable energy and natural resources sectors.

The event was opened by the Prime Minister of Georgia Mamuka Bakhtadze. According to PM, a significant tradition was established in Tsinandali, as this forum will be held annually and similar forums will be held in all regions.

According to Mamuka Bakhtadze, it is essential that in recent years Kakhetian culture has been popularized and in this respect, important investments have been implemented in Kakheti, which are welcomed by him.

"It is important for us that in Georgia and Kakheti, winemaking does not depend on one of the major markets, it is good that the diversification policy is actively going on, but I think we have more to do in this part and the Ministry of Agriculture was given a specific task in this regard", said the Prime Minister.

Kakheti has the potential to enable all residents to feel economic progress in their own homes, Mamuka Bakhtadze stated in his speech. According to the Head of Government, the past imprudent economic policy has left an economic structure facing specific problems, which requires a purposeful policy to ensure the Georgian economy's greater competitiveness.

Bakhtadze said that Kakheti will become the most prosperous region in Georgia in terms of the implementation of the Georgian government's comprehensive growth policy.

"It takes a purposeful policy to make a change and to ensure the Georgian economy's greater competitiveness and inclusiveness, in which regional development plays a crucial role, of course. 2018 was a special year for Kakheti in that the 2018 vintage was the most successful in the history of independent Georgia. This means that the steps taken in the past few years have brought about concrete results, though we have yet to reach the desired outcome. According to our estimates, as low as 25% of Kakheti alone is used, which means that we have enormous economic development resources-and, most importantly, inclusive development resources-in this most beautiful region."

According to the Prime Minister, the participation of foreign investors in the forum is of vital importance, because they are interested in investing in Georgia. Such formats, the Head of Government said, offer foreign investors better insight into Georgia's economic potential, and such forums will be held in every region, the Prime Minister emphasized.

As stated by Bakhtadze, the Kakheti Region has enormous potential in terms of developing myriad cultivated plants such as walnut plans and olive trees. PM also stressed out Kakheti's potential in the field of tourism: "The rehabilitation of important settlements will be completed by the summer of 2020 and they will be given their historical appearance. The starting point for us is inclusive growth, the economic growth that will benefit the well-being of each citizen. I am sure that the Kakheti region will be the most successful result of this policy", said Bakhtadze.