Georgia fights back against the pandemic and introduces a state program for Foreign Direct Investment Grant. This program grants investors who qualify to receive cashback of up to GEL 1 million on their investments.
Yesterday, the Government of Georgia approved a program that will be implemented through the reputable agency Enterprise Georgia which has a strong track record. The aim of the program is to boost foreign direct investments, technology inflow and job creation. The Foreign Direct Investment Grant applies to the following sectors:
– Production of electrical and electronic engineering products;
– Manufacturing of aircraft parts and components;
– Manufacturing of vehicles and equipment, as well as their parts;
– Export of business services/ business process outsourcing (BPO);
– Developing Warehouses and logistic centers; and
– Aircraft repair and maintenance (MRO).
The investors who wish to gain benefit from the program shall submit an application to Enterprise Georgia alongside the investment project business strategy. The investors must, to receive cashback on their investment, complete the project within 39 months, shall invest at least GEL 10 million and create minimum 150 jobs. The minimum investment amount is GEL 5 million and the minimum number of jobs created is 200 new jobs for BPO business.
Contact us and we will assist you at every step of the way. This is an opportunity to grasp if you are willing to invest in Georgia.
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