Economy Minister: We Hope Stadler Will Build Regional Factory in Georgia

Within the framework of the strategy of proactive attraction of foreign investments and relocation of foreign productions in Georgia, the Minister of Economy and Sustainable Development Natia Turnava has met with the CEO of the world’s leading train manufacturer, Swiss Stadler Rail, Peter Spuhler.

At the meeting, the Minister briefed Stadler representatives on the stable and sustainable business environment in Georgia and the benefits foreign investors can enjoy in the country, including access to 2.3 billion potential customers under the free trade regime between Georgia and the EU.

Turnava noted that Swiss Stadler Rail AG used to supply train wagons to Georgia and participated in a number of tenders, however, now it is possible to start negotiation on further cooperation, in particular, on the establishment of production in the country.

"They see these prospects, especially as a result of our proactive investment policy amid the COVID pandemic. 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. Stadler is a company that will employ many of our citizens. The company is ready to start the trainings, the preparatory phase and we hope that with our involvement and support, we will finally have a regional factory of Stadler," she said.

The world’s leading train manufacturer, Swiss Stadler Rail AG, was founded in 1942. The company has sales of $3.46 billion and employs a total of 10,900 people around the world.

By Ana Dumbadze

04 August 2020 15:59