First Vice Prime Minister and Minister of Economy Levan Davitashvili spoke at an international fintech conference and asserted that Georgia is positioning financial technologies and innovation as primary engines of its future economic growth. He pointed out the importance of expanding access to inclusive financial services and modernizing the financial ecosystem beyond traditional banking.
“Financial technologies are not just about banks, they are about building an ecosystem where capital markets, startups, and alternative instruments thrive,” he said.
Davitashvili cited the Bank of Georgia’s recent recognition by Global Finance as the Best Digital Bank of 2024 as a sign of the country’s growing fintech capabilities. But the minister made clear that the government’s ambitions extend further. The Ministry of Economy is working closely with the National Bank to reform capital markets and introduce new financial products to broaden investment and growth opportunities.
“The knowledge economy and innovation are Georgia’s most strategic priorities,” Davitashvili said, pointing to ongoing reforms and programs to enhance high-tech sectors.
Through the Georgian Innovation and Technology Agency, the government has invested nearly GEL 45 million in innovative startups, generating an economic impact of over GEL 500 million. Fintech has emerged as a standout performer, with GEL 4 million invested in 17 fintech companies that went on to attract over GEL 55 million in follow-on funding.
A new international startup accelerator is also launching in 2025, aiming to support at least 160 startups annually, each with access to up to GEL 200,000 in funding.
“These tools will help us turn Georgia into a regional hub for innovation and financial technology” Davitashvili said.
