The Chairman of the International Investors Association of Georgia, Mr. Osman Chalishkan Mzhavanadze, visited to the Chairman of the Trabzon Chamber of Commerce and Industry in Turkey M. Suat Hacısalihoglu. During the meeting, they talked about the problems caused by the Covid Pandemic, new economic challenges and improving the investment environment, and the importance of the participation of international companies in the Batumi Build Virtual 2021 construction virtual exhibition.

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The Chairman of the International Investors Association of Georgia, Mr. Osman Chalishkan Mzhavanadze, paid an introductory visit to the T.C. Kemalpaşa Governor to Mr. Recep Gündüz, and wished him success. Today, the Chairman of the International Investors Association of Georgia, Mr. Osman Chalishkan Mzhavanadze, paid an introductory visit to the T.C. Kemalpaşa Governor to Mr. Recep Gündüz, and wished him success. During the meeting they discussed problems caused by coronavirus on the economy, the improvement of the business environment and the development of new strategies and ways of development. The Governor of the city of Kemalpaşa, Mr. Recep Gunduz, thanked Mr. Osman for their visit.

The Government of Georgia has approved the state program to support foreign investment  projects. The program will be implemented by the agency Enterprise Georgia, who had been working on developing the program for past several months.  The goal of the program is to promote the growth of foreign direct investments in country, the inflow of technology and the creation of new jobs. The FDI grant incentive applies to following economic sectors:

• Production of electrical and electronic engineering products;

• Manufacturing of aircraft parts and components;

• Manufacture of vehicles and equipment, as well as their parts;

• Export of business services/ business process outsourcing (BPO);

• Developing Warehouses and logistic centers;

• Aircraft repair and maintenance (MRO); The eligibility criteria includes:

• An international company participating in the program will have obligation to invest at least 10 million GEL and create minimum 150 jobs.

• For companies operating in the field of business process outsourcing (BPO), the minimum amount of investment equals 5 million GEL (~1.5 mln USD), with a creation of at least 200 new jobs.

Upon fulfillment of the investment obligation, Companies will get cashback of up to 1 million GEL (~300 thsd. USD).

Companies, interested in applying to the program, have to send an application to Enterprise Georgia along with their investment project business strategy. A relevant agreement is concluded between the agency and the investor, by which the investor undertakes the investment commitment and starts the implementation of the project, the maximum term of which is 39 months.

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