Dimitry Kumsishvili Presented Investment Projects to Business Sector

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The FINANCIAL — On September 28, Minister of Economy and Sustainable Development of Georgia Dimitry Kumsishvili held a meeting with the representatives of Georgian business sector. The presentation of 15 investment projects prepared by the Georgian Industrial Development Group under the Ministry was introduced at the meeting attended by the heads of the business-associations and investment groups operating in Georgia. 

Following projects were introduced at the meeting:

1. Manufacture of matches;

2. Imereti herb production and export promotion; 

3. Stone proceeding plant in Tbilisi;

4. Pankisi diabase extraction project; 

5. Dried bay leaf and bay leaf oil production;

6. Apparel manufacturing; 

7. Textile manufacturing;

8. Ceramic tile production;

9. Dairy processing plant;

10. Cardboard boxes production;

11. Stone processing plant in Poti;

12. Steel pipe manufacturing;

13. Essential oil factory;

14. Calcite mining and processing;

15.Facing ceramic tile production.  

As the Minister of Economy and Sustainable Development of Georgia Dimitry Kumsishvili stated, the main objective of the Ministry of Economy and Sustainable Development of Georgia is to support the country’s economic development. “

“International experience illustrated that the level of development of the country’s economic growth can be achieved through its economic diversification. In order to achieve this diversification, it is necessary to develop new industries, new products and new markets; we call this process a new economic activity. Best international practice shows that the development of new economic activity requires intensive cooperation of the state and private sectors,” – Dimitry Kumsishvili said.

For this purpose, the Ministry established Georgian Industrial Development Group a year ago, which prepared the investment projects with total investments amounting to 80 million USD. Upon their implementation, 1 000 people shall be employed directly while several thousand people shall be occupied indirectly.

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It was noted that two projects presented at the meeting have already found their investors, according to Ministry of Economy and Sustainable Development of Georgia.

As the Minister Dimitry Kumsishvili noted, the Ministry of Economy and Sustainable Development is ready to facilitate the interested businessmen in the implementation of the projects. “Facilitation of these projects is an important component of our industrial policy. Our forms of support are based on the best international practice and envisage field studies and preparation of the specific investment projects as well as  technical assistance of the companies and export promotion,” – the Minister stated.

The Minister also emphasized that such meetings will have a systematic character – presentations of the projects prepared by the Georgian Industrial Development Group shall be held on a regular basis. The main purpose of this Group is to promote economic activities through cooperation of the state and private sectors. It identifies the new fields of economic activities of the country and prepares specific business projects.

 

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