Produce in Georgia Identified Companies Ready to Relocate to Georgia
"Companies have been identified that are interested in relocation to Georgia," said Irakli Nadareishvili, the Deputy Minister of Economy, at an event organized by the ISET Research Institute entitled "War in Ukraine: Challenges, Risks, and Impact on the Georgian Economy".
The Deputy Minister participated in a panel entitled "Economic Security in a Changing Region: Impacts, Risks, Opportunities, Institutional Responses", where he spoke in detail about the current and expected economic consequences of the ongoing war in Ukraine.
According to him, the current war in Ukraine poses economic challenges not only in Georgia but also in the wider region. Therefore, it is very important to exchange information between the state, the private sector, and also the donors about the visions and challenges, as well as the opportunities and the steps that each party must take to minimize the expected and current crisis consequences.
The Deputy Minister also touched upon the impact of the current events in Ukraine on the investment environment in Georgia. According to him, a number of international companies are leaving the Russian and Belarusian markets, which is an opportunity to attract new companies, new businesses, new investments, and create new jobs in Georgia.
"We have a specific strategy that we have developed, including the involvement of our donors, and all the international resources we have in terms of attracting foreign investment are oriented towards this niche. Our partners work with us, we have a list of specific companies that we work with directly through various channels, through our international partners, as well as direct resources - this is the investment department of the agency "Produce in Georgia", identified companies that are interested in relocation in Georgia. With the expansion of their representation, you know that there are also decisions of several global brands, including Viber, which came in a few weeks ago. This is also a very good message for communication that large companies choose Georgia as an effective place to develop their business relocation, "Irakli Nadareishvili said.
In his speech at the panel, the Deputy Minister of Economy highlighted several specific sectors of the Georgian economy, which were particularly concerned with the problems caused by the current events in Ukraine.
"In general, we have good experience in crisis management, for example, during the crisis management caused by the pandemic, where this coordination was quite effective and this led to the pace of economic recovery, which we saw in 2021 and this process continues in different directions," - said Nadareishvili.