The FINANCIAL -- “State Agency implementing the program Produce in Georgia will continue operation with the renewed, more flexible structure, which will make state supporting programs even more effective,” – this information was announced at the presentation held by the Minister of Economy and Sustainable Development of Georgia, Giorgi Gakharia. Prime Minister of Georgia, Giorgi Kvirikashvili as well as the representatives of the other state agencies and business sector attended the presentation.
Giorgi Gakharia informed the audience that the Agency is undergoing the process of transformation and it will continue operating under the name Produce in Georgia. In order to ensure dynamic economic development, the Agency will unite three main components, three interconnected layers of the economic growth, which are business (local entrepreneurship), export and investments. Consequently, a single brand will unite under one umbrella following directions: Produce in Georgia – Business, Produce in Georgia – Export and Produce in Georgia – Investment.
“Our geographic location, business environment, legislation and taxation system provides us with chances to attract large portion of the trade turnover onto our direction. We have recorded significant increase of the FDI volume during the past 4 years and today we have a 30% increase in export, which means that markets and demands with our main trade partners are stabilizing. Therefore, any reform we implement is aimed on rapid economic growth and they will have strong positive impact on production, export and investments. This is the main reason of uniting those components under the single umbrella,” – Giorgi Gakharia stated to the media representatives.
The Minister noted that the Agency will start operating with renew strength and management. Mariana Morgoshia will be in charge of the Produce in Georgia agency, while the Deputy Minister of Economy and Sustainable Development, Giorgi Cherkezishvili will supervise the agency’s activities on the behalf of the Ministry, according to Ministry of Economy and Sustainable Development of Georgia.
Three components united under the umbrella of the Produce in Georgia are as follows:
Produce in Georgia - Business: This component will continue to work with micro, small and medium-sized companies to facilitate them in the access to the financial resources, starting new businesses or expanding/ diversifying the existing ones. The component will be as dynamic as possible in order to meet the needs of the business.
At the same time, Produce in Georgia opens a Front Office where the entrepreneurs will be offered the simplified access to the business support programs in a very comfortable environment. The Front Office will work on the one stop-shop principle and serve as a business hub allowing the entrepreneurs to receive any information related to starting the business and the full range of services, enabling them to save time and resources. Later, the Front Office will join the Business House and continue operation there.
Produce in Georgia - Export: Already signed Free Trade Agreements as well as the ones being under negotiations provide excellent opportunities for Georgian export. Therefore, it is crucial to facilitate the exporters in entering new markets and establishing their place there.
Export promotion was a part of the Agency’s activity previously but due to its importance, it has become an independent component and it will be substantially strengthened. It will serve as a kind of mediator between the entrepreneurs and the foreign buyers. In addition, it will provide technical support to Georgian entrepreneurs in order to enable them to access the foreign markets as well as to the international exhibitions and in some cases, assist them to unite with other entrepreneurs for further entering the international market.
Produce in Georgia - Invest: Invest in Georgia also became the part of the renewed Agency. This component foresees a close relationship with the existing investors and offering of the specific projects to the new investors. Promoting of Georgia will be its main function. Communication with the investors will take qualitatively new, improved form and investors will be offered further consultancy services following the launching of their investment activities.
According to the Government’s decision, Commercial Attaché institution will start to operate as well. Commercial Attachés will serve as Georgia’s commercial Ambassadors with offices at the Georgian Embassies in the different countries. Commercial Attachés will promote the opportunities that Georgia offers among the potential investors, attract the buyers interested in Georgian export products and encourage more international businesses to enter Georgia.