New Structure Planned for Produce in Georgia Agency
The Produce in Georgia Agency will now operate with a new structure, enabling it to become more flexible and make its state support programs more effective. The presentation of the Produce in Georgia Agency’s new structure was given by Giorgi Gakharia, Minister of Economy and Sustainable Development of Georgia, on April 19, with Georgian Prime Minister Giorgi Kvirikashvili and members of the Georgian government and business representatives.
“The agency will now be transformed and will work under the title Produce in Georgia,” Gakharia said. “In order to ensure dynamic economic development, the agency is to unite three interconnected layers of the economic development: business (local production), export, and investments, thus developing the Produce in Georgia concept in three different directions under one umbrella- Produce in Georgia Business, Produce in Georgia Export and Produce in Georgia Investment”.
“Our Geographic location, business environment, legislative base and tax code give us a serious opportunity to transform the trade turnovers of the bigger economies in our direction,” he told attendees. “We had a 30% increase in foreign direct investments in the last four years and have a 30% export growth in export today, which means that the markets and demands with our major trade partners are stabilizing. Accordingly, every reform oriented towards quick economic growth will have a strong effect on growth in production, export and investment directions. This is the value of uniting all those components under one umbrella.”
As Gakharia noted, the transformed agency will work under new management headed by Mariam Morgoshia, while the agency activities will be curated by Giorgi Cherkezishvili, the Deputy Minister of Economy.
The Produce in Georgia Business component will support micro, small and medium enterprises, with increased access to financial resources. Produce in Georgia will have a “front desk service,” creating comfortable conditions for entrepreneurs to receive information on existing support programs. “It will be a business hub working on a one window principle, offering business entrepreneurs full range services to start their business,” Gakharia clarified.
The Produce in Georgia Export component will focus on supporting Georgian exporters to explore potential new markets. Produce in Georgia Export will be a mediator between the Georgian entrepreneurs and international buyers. Technical assistance to Georgian entrepreneurs will also be an important part of the component, helping them to establish themselves on international markets.
The Produce in Georgia Investment (Invest in Georgia) component means close cooperation with existing investors and introducing and offering projects to potential future ones. Its function will be promoting Georgia as a country and developing consultancy services for investors interested in starting their businesses in Georgia.
Additionally, the Government of Georgia will now have economic attaches working in Georgian embassies abroad, with the aim of introducing the country’s possibilities and attracting potential new foreign investors. Commercial attachés will present Georgian export products and attract more international businesses to the country.
By Nino Gugunishvili