Carrefour, owned and operated by Majid Al Futtaim in Georgia, has been named one of the ten largest investors in Georgia, due to the rapid physical and digital development of the brand. Carrefour has created employment opportunities for the local population, supported local producers and suppliers, and conducted a variety of charitable and environmental initiatives.
The National Statistics Office listed Majid Al Futtaim as one of the top ten largest companies to invest in Georgia, along with the likes of IDS Borjomi Georgia, Tbilisi Energy Ltd, JSC Energo-pro Georgia, JSC Corporation Poti Seaport, Toyota Caucasus Ltd, Adjara Energy Ltd-2007, CBD Development Ltd, SC Georgian Healthcare Group and JSC BGEO Group. These companies were the largest investors in the country during the first quarter of this year.
According to Geostat, the contribution of foreign investors, such as Majid Al Futtaim, has become vital to the development and progress of the country’s economy.
Carrefour’s name among the country’s largest investors was largely due to the brand’s impressive contribution to the development of the Georgian economy and modern trade. Since its establishment, the brand has brought a completely new, unbeatable trading experience to the country.
The brand’s active investment efforts are also reflected quantitatively. After entering the country, Carrefour has invested about $150 million and plans to invest another $120 million over the next 2-3 years.
Carrefour currently employs 2,500 people in Georgia and plans to hire another 1,200 employees over the next 2-3 years, which will bring more benefits to suppliers, farmers, and consequently strengthen Georgia’s agricultural sector.
Over the years, the brand has strengthened and developed relationships with many suppliers through its activities. After entering the Georgian market, Carrefour worked with more than 800 suppliers, assisted Georgian farmers, and contributed to the development of agriculture. 60% of its business comes from Georgian farmers.
As a responsible, long-term investor, protecting customers’ purchasing power is one of Carrefour’s fundamental values. The brand’s unrelenting work to improve the economy, increase employment rates, help the vulnerable across the country and care for the environment is reflected in the above data and economic analysis, as well as in the unwavering consumer confidence and high reputation of the Carrefour network.