Up to 10 International Companies Show Interest in Georgian Investment Incentive Program 'FDI Grant'

According to Enterprise Geogria, up to 10 international companies have shown interest in the state investment program FDI Grant mechanism. The FDI Grant is a mechanism carried out by Enterprise Georgia in order to boost investment in the country, create jobs and introduce new technologies. As the agency reports, the companies which expressed their interest to participate in the program operate in business process outsourcing, electrical manufacturing and logistics.

 

In general, according to Enterprise Geogria, the FDI Grant incentive applies to the following business sectors: Production of electrical and electronic engineering products; Manufacturing of aircraft parts and components; Manufacture of vehicles and equipment, as well as their parts; Export of business services/ business process outsourcing (BPO); Developing Warehouses and logistic centers; Aircraft repair and maintenance (MRO).

 

As for the eligibility criteria, the program lists the following requirements:

 

An international company participating in the program will have obligation to invest at least 10 million GEL (~3 mln USD) and create minimum 150 jobs.

For companies operating in the field of business process outsourcing (BPO), the minimum amount of investment equals 5 million GEL (~1.5 mln USD), with a creation of at least 200 new jobs.

According to Enterprise Georgia, upon fulfillment of the investment obligation, companies will get cashback of up to 1 million GEL (~300 thsd. USD).

 

The detailed information about the program can be retrieved from here: http://www.investingeorgia.org/

12-05-2021, 17:26    

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