Silk Road Group, WonderHill Studios and Eternal Sources Tech, a US-based investment and advisory firm, in cooperation with the Georgian Government, have signed an MOU for establishing a film production and financing joint venture WonderSilk Studios in the country of Georgia.
The partnership plans to offer a clear pathway for Hollywood studios and indie film producers to utilize local sites, tax credits, studios, local personnel and talent. Beginning at the end of 2023 and throughout 2024, the WSS JV plans to bring a number of film projects to Georgia and Kazakhstan valued at over $200M.
WSS encompasses a groundbreaking vision for film and television series production, local content creation, and an innovative entertainment financing scheme that will accelerate the film production process and also create the opportunity for Georgia and other regional countries to enjoy benefits to the economic development through a rapid increase in tourism, significant job creation, new tax revenues and unprecedented global visibility.
The MoU signing ceremony and press conference tookplace at the Tsinandali Estate.
“I am happy that this historic moment took place in Tsinandali, a place where strong cultural, educational and progressive messages have always been heard from,” said George Ramishvili, a founder and Chairman of Silk Road Group. “We are going into partnership with one of the biggest Hollywood studios. It’s literally like a Hollywood movie, a Hollywood story.
“This means that Georgian actors, various professionals of the film industry, will be employed. It will also be a big boost for tourism. The economic effect of this venture is of course very important, but it also has big cultural and political significance: the entry of Hollywood into Georgia means bringing us even closer to the USA.”
“In the film industry. the best model of success is based on a public-private partnership,” said Deputy Minister of Economy, Irakli Nadareishvili. “I think that the participation of leading Georgian and American companies, on the one hand, and the Ministry of Economy, on the other hand, will be a success formula in this project. In this case, success would be to have more Georgia in Hollywood and more Hollywood in Georgia.”
“As a filmmaker, lover of cinema and studio head, it has always been my dream to bridge the cinematic global universe,” said the Co-Founder and Co-CEO of WonderHill Studios, Marvin Peart. “The more stories we tell about diverse audiences using diverse landscapes, will bring us closer together as a global community. And the closer we are as a global community, will bring us closer to peace.”
