Gov't approves state program 'FDI Grant' to support foreign investment projects
Gov't approves state program 'FDI Grant' to support foreign investment projects

The Government of Georgia has approved the state program – FDI Grant – to support foreign investment projects.

The program will be implemented by the agency Enterprise Georgia, who had been working on developing the program for the past several months.

As Enterprise Georgia says, the goal of the program is to promote the growth of foreign direct investments in country, the inflow of technology and the creation of new jobs.

The FDI grant incentive applies to the following economic 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 centres;

• Aircraft repair and maintenance (MRO); The eligibility criteria include:

• An international company participating in the program will have obligation to invest at least 10 million GEL (~3 mln USD) and create a minimum of 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 the creation of at least 200 new jobs. Upon fulfilment of the investment obligation, Companies will get a cashback of up to 1 million GEL (~300 thsd. USD) Companies, interested in applying to the program, have to send an application to Enterprise Georgia along with their investment project business strategy. A relevant agreement is concluded between the agency and the investor, by which the investor undertakes the investment commitment and starts the implementation of the project, the maximum term of which is 39 weeks.