MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili discussed important issues of investment cooperation with the heads of the US Export-Import Bank.

Levan Davitashvili spoke in detail with Judith Pryor, First Vice President of the EXIM Bank, about the economic trends in Georgia, the liberal business environment and the favorable tax regime for investments. It was noted that despite the ongoing challenges in the region, Georgia has maintained one of the highest economic growth rate in the region.

It was noted that Georgia welcomes the FDI coming from the United States, which have played a significant role in the development of Georgian economy. Since 1997, the FDI from USA exceeds 1,8 billion. However, there are vast opportunities left unused and Georgia expects more investments in logistics, energy, development of renewable energy sources, business process outsourcing, information technologies, tourism, hotel business, etc.

Georgian side highlighted several priority projects including development of Black Sea Submarine Cable between Georgia and Romania, which aims to connect the South Caucasus Region directly to the Eastern Europe and strengthen Georgia’s energy independence. Georgian side also offered to the US side to pay more attention to the development of the 5G technologies in Georgia.

The meeting also focused on the challenges that have arisen from the ongoing processes in the region and the ways of their solution.