MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development, Genadi Arveladze, met with the members of the Austrian Federation of Industries and introduced them to Georgia's economic trends and investment opportunities. The federation unites the largest groups of manufacturers operating in Austria's industrial sector.

The meeting was held in a roundtable format and was also attended by Alexander Maisuradze, Chargé d'affaires ad interim of Georgia to the Republic of Austria. To honor the Georgian side, the Georgian flag was displayed at the entrance of the Austrian Federation of Industries' central office.

As Genadi Arveladze stated, Georgia and Austria have a long-standing and successful economic cooperation. According to him, the volume of Austrian capital in Georgia exceeds 430 million US dollars and covers sectors such as construction, logistics, energy, food industry, tourism, and others.

During the discussion with the Federation members, the Deputy Minister of Economy and Sustainable Development emphasized that Georgia ranks third in the World Bank's latest Business Ready rating. Furthermore, the country has maintained one of the lowest inflation rates in the wider region, which once again confirms its economic stability.

"Thanks to economic policies and ongoing reforms, the country has successfully overcome external shocks, maintained macroeconomic stability, and achieved impressive economic growth, driven by infrastructure spending, foreign direct investment, and structural reforms aimed at increasing productivity. We believe this trend will continue in the future," – the Deputy Minister said.   

The Deputy Minister also focused on additional incentives for attracting foreign direct investment to Georgia, noting that today Georgia is an attractive investment destination with liberal tax rates, low risks, green energy, and the opportunity to export to a 2,3 billion consumer market worldwide through free trade agreements.

The Deputy Minister also highlighted ongoing strategic infrastructure projects that will facilitate Georgia's integration into global transport and infrastructure routes. According to his information, the meeting revealed that two Austrian companies expressed interest in investing in Georgia – one involved in postal deliveries and the other interested in providing banking services in Georgia. Representatives of the companies are planning a visit to Georgia in the near future and will consider the possibility of opening a representative office.

Members of the Austrian Federation of Industries expressed great interest in Georgia's investment potential. It was noted that to deepen bilateral economic cooperation, it is important to bring the business circles of the two countries closer together and to organize joint business forums and exhibitions for this purpose.