The FINANCIAL — Minister of Economy and Sustainable Development met with the CEO of Swiss train manufacturing company Stadler Rail, Peter Spuhler. Natia Turnava announced that Georgia is negotiating with Swiss Stadler Rail AG to open a metro and railway train producing plant. Memorandum of Understanding between the Stadler and Georgia was signed in 2017.
Georgia is negotiating with leading Swiss train manufacturing company Stadler Rail to open a plant in the country that will produce metro and railway trains. Turnava met with the president of Stadler today. The Ministry of Economy announced that its strategy of attracting international business envisages holding negotiations with more than 400 global companies and introducing them to Georgian business opportunities and offering attractive investment conditions, local media agenda.ge reported.
Turnava informed Stadler representatives of a stable, sustainable business environment in Georgia. Swiss Stadler Rail AG used to supply train wagons to Georgia and participated in a number of tenders, but now it is possible to start negotiation on further cooperation, Georgian Economy Minister noted. “We have assured Stadler that Georgia is one of the best places to expand its business and have access to 2.3 billion potential customers under the free trade regime between Georgia and the EU. We have one of the best investment environments and now we are one of the safest countries epidemiologically, which is also very important for doing business,” said Natia Turnava.
Stadler Rail is a Swiss manufacturer of railway rolling stock, with an emphasis on regional train multiple units and trams. It is headquartered in Bussnang, Switzerland. Nowadays, the facility in Bussnang comprises about 51.000 m2 of production and storage space and employs about 1700 people. Stadler currently has a workforce of around 10500 employees around the world.
Swiss Stadler Rail AG confirmed Interest to Invest in Georgia in June of 2017 when Memorandum of Understanding between the Stadler Rail AG and Georgia was signed by the Minister of Economy and Sustainable Development of Georgia and the Stadler CEO, Peter Spuhler. Giorgi Kvirikashvili, the Prime Minister at the time, attended the signing ceremony held at the Government’s Administration. Upon the signing of the Memorandum, Swiss company launched the feasibility study of Georgian market. Stadler Rail AG leadership gave a very positive evaluation of the Georgia’s investment potential and therefore, considered the construction of the factory here.
Last week, Minister of Economy and Sustainable Development, Natia Turnava held an online meeting with the Minister of environment of the Republic of Korea, Cho Myung-Rae. The Ministers gave the positive evaluation of the economic cooperation between the two countries and underlined the increasing dynamics in terms of bilateral trade as well as tourism. It was noted that in 2019, the number of Korean visitors to Georgia was increased by 25%.