In April 2017, while seeking to increase the synergy and efficiency between existing private sector support programs implemented by the State, The Ministry of Economy and Sustainable Development of Georgia decided to unite mechanisms tailored to suit different stages of foreign and Georgian business development. Thus, Enterprise Georgia has incorporated the activities of Invest in Georgia (state agency responsible for promoting and facilitating foreign direct investments in Georgia). With this restructuring, Enterprise Georgia is now responsible for three main pillars, namely the Business, Export and Invest in Georgia divisions.
The business division of the agency aims to develop entrepreneurship in Georgia by supporting entrepreneurs, creating new enterprises and promoting the expansion or re-equipment of existing enterprises. Whereas the export division is directed to promote the export potential of the country, in order to increase the competitiveness of local products on international markets and to increase the export volume of domestic products. The Invest division plays a role of moderator between foreign investors and the Government of Georgia, ensuring that the investor gets different types of updated information and has means of effective communication with the Government bodies. The aim of the Invest division is to attract, promote and develop direct foreign investments in Georgia. It serves as a “One-stop-shop” for investors to support companies before, during & after investment process.
The main Services that Invest in Georgia pillar mandates are:
» Information support – providing general data & statistics information, sector-specific researches;
» Communication – connecting investors with Government bodies and potential local partners
» Organization of business visits – preparation of site visits to potential investment locations and accompanying of investors
» Aftercare – supporting existing investors and reinvestment activities
Active involvement from Enterprise Georgia in terms of investment promotion and support played a key role in successfully launching seven new investment projects in 2017. These included one project tied to Business Process Outsourcing (BPO) services, four in real estate & hospitality, one in manufacturing, and one agricultural project specializing in almonds. The total volume of these projects is US$ 75M (US$ 15M was spent in 2017), all of which created more than 250 new jobs and are scheduled for completion between 2017 and 2020. In the same year, the investment team provided information to more than 500 parties interested in FDI opportunities in real estate and hospitality, logistics, BPO, manufacturing and other business sectors. In all of 2017, Enterprise Georgia - Investment Division facilitated more than 500 meetings in Georgia as well as approximately 60 meetings that took place during roadshows, forums, and in foreign countries. Overall, Enterprise Georgia - Investment Division organized three sector specific roadshows (real estate & hospitality, manufacturing, BPO) that took place in target countries (Poland, Romania, Turkey) and participated in eight forums that showcased Georgia’s investment potential.
