36
Investment Climate & Opportunities in Georgia Georgian National Investment Agency (GNIA) 2015
Investment Climate &Opportunities in Georgia
Georgian National Investment Agency(GNIA)
2015
Area: 69,700 sq km
Population: 4.5 mln
Life expectancy: 75 years
Official language: Georgian
Literacy: 100%
Capital: Tbilisi
Currency (code): Lari (GEL)
Georgia - Country Overview
GDP 2013: USD 16.1 bln
GDP real growth rate 2013: 3.2%
GDP CAGR ‘08-’13 (USD) 5%
GDP per capita 2013: US$ 3,597
Inflation rate 2013: -0.5%
Total Public Debt to Nominal GDP (%) 2013:
34.5%
www.investingeorgia.org 2
Advantages of Investment Climate in Georgia
www.investingeorgia.org 3
A politically stable investment destination
Efficient, pro-business and corruption-free government
Enlargement of market size by Free Trade Agreements
Competitive cost of labor and energy
Entry gate in the region
Solid sovereign balance sheet
Stable banking sector
Very low crime-rate
BB- Stable BB- Positive Ba3 Positive
1
7
8
15
23
27
38
45
55
62
80
90
96
Singapore
United States
United Kingdom
GEORGIA
Latvia
Netherlands
Bulgaria
Armenia
Turkey
Russia
Azerbaijan
China
Ukraine
Doing Business in Georgia
Ease of Doing Business Index Of Economic Freedom
Source: World Bank, 2014 (Rank out of 189 countries)
1
12
14
18
22
41
64
67
70
81
137
140
155
Hong Kong
United States
United Kingdom
Germany
GEORGIA
Armenia
Turkey
Kazakhstan
France
Azerbaijan
China
Russia
Ukraine
Source: The Heritage Foundation, 2014 (Rank out of 178 countries)
Up from 112 in 2005 Up from 99 in 2005
Country's impressive progress in improving business climate has been well documented in a
number of international indices.
www.investingeorgia.org 4
Global Corruption Barometer
1%
2%
2%
3%
3%
4%
5%
7%
9%
14%
18%
27%
Denmark
Norway
Korea (South)
Canada
GEORGIA
Switzerland
UK
United States
Romania
Armenia
Turkey
Ukraine
Source: Transparency International 2013 (GLOBAL CORRUPTION BAROMETER)
Percentage of users paying a bribe in the past year
Georgia is considered as essentially a corruption-free investment destination where rule of law has
been given the right way.
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1
9
13
19
31
33
36
44
59
68
75
80
Denmark
Germany
United Kingdom
United States
Georgia
Romania
Croatia
Bulgaria
Turkey
Ukraine
Moldova
Russia
The World Justice Project
Source: The World Justice Project (Rule of Law Index)Rank out of 99 countries
Georgia Ranks #1 in region in WJP’s Rule of Law Index
Corruption Free Country where Rule of Law prevails
Favorable public debt situation
Economic Structure and Trends
Broad-based and diversified nominal GDP structure in 2013
Rapidly growing GDP per capitaGDP: Strong rebound after a relatively small contraction in 2009
Source: Geostat, MOF Source: Geostat, MOF
Source: Geostat, MOFSource: Geostat, MOF
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Agriculture, forestry and fishing
9%
Industry17%
Construction7%
Trade17%Hotels and
restaurants3%
Transport and Communication
11%
Financial intermediation
3%
Public administration
10%
Education5%
Health and social work6%
Other sectors12%
63.2%
50.5%
40.0%
32.0%25.5%
31.2%
41.0% 42.4%36.5% 34.9% 34.7%
44.9%
34.5%26.8%
21.1%16.8%
23.5%
31.7% 33.6%28.8% 27.6% 27.2%
0%
10%
20%
30%
40%
50%
60%
70%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Total Public Debt to Nominal GDP (%) External Public Debt to Nominal GDP (%)
5.16.4
7.8
10.2
12.8
10.811.6
14.4 15.8 16.117.3
5.9%
9.6% 9.4%
12.3%
2.3%
-3.8%
6.3%
7.2% 6.2%
3.2%5.0%
-8%
-4%
0%
4%
8%
12%
16%
0
2
4
6
8
10
12
14
16
18
20
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E 2014F
Nominal GDP (US$bln) Real GDP growth, y-o-y (%)
1,1881,484
1,764
2,315
2,921
2,4552,623
3,2313523 3597
3,835
0
1,000
2,000
3,000
4,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E 2014F
US$
GDP per capita
Liberal Trade Regimes
Preferential Trade Regimes:
• FTA with CIS countries and Turkey
• DCFTA (Deep and Comprehensive
Free Trade Agreement ) with EU was
singed on June 27, 2014
• GSP agreement with USA, Norway,
Switzerland, Canada, Japan
• Member of WTO
• Very simple and service oriented customs policy and administration – customs clearance in 15
minutes
• ~80% of goods free from import tariffs
• No quantitative restrictions
Duty free access to ~0.9 billion marketprovided by FTAs and DCFTA
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Before Current Change year
Number of Taxes
21 6 2005-2007
VAT 20% 18% 2005
Personal Income Tax
12-20%
20%2004 - 2009
Social Tax 33% -
Corporate Profit Tax
20% 15% 2008
Customs/
import Tax0%, 5% or 12%
Excise Tax Depends on goods
Property Tax
Up to 1%
No payroll tax or social insurance tax
No capital gains tax
No wealth tax and inheritance tax
Personal income tax for interest, dividend,royalty – 5%
Foreign-source income of individuals fullyexempted
Accelerated depreciation on capital assets
Loss carry forward for corporate profit taxpurposes (10 years)
No restrictions on currency convertibility orrepatriation of capital & profit
Double taxation avoidance treaties with 47countries
Taxation - simple, low, efficient and fair
www.investingeorgia.org 8
According to the latest Tax Misery & Reform Index, released by Forbes Business & FinancialNews, Georgia is the fourth least tax burden country after Qatar, UAE and Hong Kong
Leader in Forbes rating (Tax Misery & Reform Index)
www.investingeorgia.org 9
Transport Network in Georgia
Main Road Network: • 1 500 km international roads (20 000 km all roads)• 150 km new Highway constructed
Railway: • Infrastructure: 2 100 km (95% electrified); modernization in
progress (30mln t/year)• Rolling Stock: existing ~8 000; planned ~2 500• Baku-Tbilisi-Kars(2015): link with Turkish railway networks (5 mln
t/year)
Poti seaport
• 15 berths, 8-11m draft
• Container(450k TEU) oil products /bulk (7 mln. t/year)
• APM terminals
• New ICT
Batumi seaport
• 8 berths, 1 offshore, 9-12m draft
• Oil/prodcuts (15mln. t/year), bulk (2mln. t/year), containers (100k TEU)
• JSC KazTransOil
Kuhlevi oil terminal
• Crude oil, petroleum, and lubricants (6mln. t/year)
• State Oil Company of Azerbaijan
Supsa oil terminal (offshore)
• Crude oil and petroleum
Deep-sea port Potential
• 18-20m natural draft
• First phase: Dry bulk (1.5mln tons) and containers (350k TEU/year)
• USD 0.5 bln investment volume
Tbilisi international airport
• ~1 million passengers /capacity: 3 million passengers
• Serving 28 destinations
Batumi international airport
• 100,000 passengers
Kutaisi international airport
• Passenger, incl. low-cost airlines
Mestia national airport
Oil/Gas Pipelines
• Baku-Supsa (7 mlnt/year)
• Baku-Ceyhan(45mln t/year)
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Poti
Batumi
ArmeniaAzerbaijan
Russia
Turkey
Kutaisi
Tbilisi
Kulevi
Supsa
Deep Seaport
Mestia
Labor Availability
• Unemployment rate – 14.6%
• Young labor – 50% -of unemployed population are aged
between 20-34
• Average monthly salary in 2013 – 480 USD (including white
and blue-collar workers)
• Flexible Labor Code
• According to Heritage Foundation, Labor Freedom Index in
Georgia is 91.2 out of 100 score
• All ILO core conventions are ratified by Georgia
• Vocational Education Training Centers around Georgia
provide professional courses in different types of practical
subjects and most of the course’s fees are financed by the
Government of Georgia.
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Foreign Direct Investment
• Georgia has Bilateral Investment Treaties (BIT’s) with the 29 countries (negotiations launched with
2 countries) and is member of ICSID Convention (since 1992).
• FDI in III Q of 2014 amounted to USD 923.3 million.
FDI by yearsFDI Breakdown by sectors 2013
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Energy sector, 26%
Manufacturing, 15%
Financial sector, 18%
Real estate and
construction, 10%
Transports and
communications, 15%
Agriculture, fishing, 1%
Other sectors, 15%
340 499 450
1190
2015
1564
658 8141117
912 942
8.5%9.7%
7.0%
15.3%
19.8%
12.2%
6.1%7.0% 7.7%
5.8% 5.8%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
0
500
1000
1500
2000
2500
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
FDI FDI as % of Nominal GDP
Investment Opportunities in Georgia
HYDRO POWER HUB
HOSPITALITY & REAL ESTATE
MANUFACTURING
AGRICULTURE
REGIONAL LOGISTICS CORRIDOR
REGIONAL SERVICES HUB
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Significant Hydro Power Potential
Installed capacity of ~ 3,300 MW
Additional potential > 4,500 MW
• Generation cost among the lowest in the region (0.04-0.06USD)
~50% lower than target market Turkey
Export Capacity
• The only net electricity exporter in the region, with rapidly growing consumption rates
• Construction of new 400 kV power transmission line from Georgia to Turkey was completed in 2013
Opportunities
• Several large scale projects (> 100 MW)
• ~ 70 small/medium projects (< 100 MW)
Hydro Power Hub
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Importance of the
sector low in terms
of GDP and
employment
• Power generation accounts for 3% of GDP and ~ 1% of employment but is of high strategic importance to Georgia
• ~ 10% of power production are exported, but Georgia still needs to import power during winter (~4% of total demand)
Power sector with
strong focus on
cost competitive
HPP
• Georgia boosts significant and economically viable HPP potential – already today 82% ofpower generated via HPP (~8,300 MWH/year) – 14% via thermal (mainly gas)
• All new HPPs operate in a liberalized market
• Cost of hydropower generation is very competitive in the region
Large projects
have been placed
and pipeline is
filled
• FDI inflows amounted to ~USD 200 million in 2013(22% / FDI) and are growing
• 75% of economically viable potential not yet exploited
• 20HPP Projects of up to USD 1.5 billion have been conceded to/under construction by investorsfrom e.g. India, Norway, Turkey, Czech Republic and other counties.
• Pipeline well filled with several potential large scale (>100 MW) and 70 HPP small projects withtotal installed capacity of 2500MW
• Domestic: Demand growth and increasing share of renewables requires an extension of hydropower generation by around 65% until 2020
• Export: Georgia is surrounded by countries with a projected structural power deficit (e.g. Turkey, Russia South) or expensive power generation, opening up attractive export opportunities
Strong demand
growth prospects
Hydro Power Sector Overview
www.investingeorgia.org 15
Turkey
South Russia
Georgia
Armenia
Azerbaijan
IranIraq
Greece
Bulgaria
Romania
Kazakhstan
Ukraine
Israel
Lebanon
Uzbekistan
Turkmenistan
Structural deficit by 2020
Ad hoc deficits projected
No deficit, but current tariffs >Georgia's generation cost
No deficit, but subsidized tariffs
1 Assuming current consumption and supply pattern 2 This does not even include countries with heavily subsidized electricity
generation (e.g. Azerbaijan, Kazakhstan)
• Turkey expected to have
deficit of up to 80-120 TWh
by 2020, with seasonality of
its demand matching
Georgia's supply
• Russia’s Southern districts
will also experience a
structural deficit of up to 40
TWh by 20201
• In other markets, Georgia’s
hydropower is very cost-
competitive compared to
local tariffs2
2020
Georgia surrounded by countries with a structural power deficit or expensive power generation
www.investingeorgia.org 16
Additional potential of about 70 small/medium projects (<100 MW capacity)
PotentialHydropower
Projects
InstalledCapacity
(MW)
Forecast Invest. Volume
(USD millions)
Readyto
invest?
Namakhvani Cascade 450 926
Khaishi HPP 400 620
Oni Cascade 270 599
Nenskra HPP 210 491
Tobari HPP 200 310
Fari HPP 180 297
Lentekhi HPP 120 189
Hydropower pipeline boosts several new megaprojects above 100 MW capacity
www.investingeorgia.org 17
Georgia is expecting significant growth trajectory in tourist arrivals
Number of international visitors has been growing rapidly
0.61
1.1 1.3 1.5
2.0
2.8
4.4
2005 2006 2007 2008 2009 2010 2011 2012 2013
Source: Georgian National Tourism Administration
+38%
+56%
+22% 5.4
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Hospitality - Fast Growing Sector
Fast growing sector• Tourism contributed 6.5% of GDP in 2013.
• Number of visitors increased by 38% reaching 2.8 million in 2011 and by 56% in 2012 reaching 4.4 million. Georgia had 22% more visitors in 2013 reaching 5.4 million. Number of international arrivals reached 4 657 525 mln during the first 10 months of 2014. (2% increase compared to the same period of the last year).
• Majority of tourists come from: Turkey (30%), Armenia (23%), Azerbaijan (19%), Russia (14%), Ukraine (2%).
• Tourist number of international visitors from Europe increased by 3 % in 2014
• Average duration of stay - 5 nights, average spend - USD 650
Potential• European Youth Olympic Festival 2015; UEFA Super Cup 2015.
• UNESCO heritage sites; 8 national parks
• Curative climate; mineral waters;
• According the IUCN criteria there are 84 different categories of Protected Areas(Total area – 520 811 ha; 7,47% of the country’s territory)
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Source-Georgian National Tourism Administration
More international luxury hotel chains are coming to the market…
Existing Hotel Chains (8 pipeline hotel projects in Tbilisi)
With the growth of tourists the demand for hotel rooms has been growing in the last years in Georgia, which has stimulated investments in the hotel sector.
Average occupancy rate of international brand hotels in Tbilisi Reached to 80% in 2013 , Tbilisi hotel market is expected growth this year of an estimated 83%;
Supply of the rooms increased, but still there is a huge capacity for development of Hotel Industry.
Upcoming international hotel brands in Georgia
Batumi
Tbilisi
Batumi
TbilisiBatumi
Tbilisi
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Tbilisi/Likani
Source: TBSC Consulting
Investment opportunities in Hospitality & Real Estate
Expansion of summer ”sun and beach” franchise focusing on high-end segment
All inclusive summer resorts
New master resort development
Description
Potential location
Batumi Anaklia KobuletiOther Black Sea
locations
Mestia Gudauri Bakuriani Goderdzi
Master development of winter resorts with unique profile equivalent to the Alps
Government is fully committed to provision of basic infrastructure
Four season resort value preposition
Majestic landscapesallow for a wide range of tourism activities such as camping, climbing, rafting, fishing, hunting etc.
Development of Spa Resorts
Include hotels, different types of clinics, fitness, outdoor activities
4
Tskhaltubo AkhtalaOther locations
3
“Sun-beach” resorts
Winter ski resorts
Summer mountains resorts
SpaResorts
Development of large-scale integrated casino complex to Serve regional markets.
Include hotels, casino entertainment, family Services and shopping
Fiscal incentives available
Batumi TbilisiOther locations
Gambling
5
www.investingeorgia.org 21
2
Mestia Gudauri Bakuriani Goderdzi Kazbegi Other locations
1
Manufacturing Sector
Overview:
• Georgia`s natural advantage as a gateway between the Europe and Asia provides many benefits to investors in manufacturing sector. Specifically, Georgia offers competitive labor and energy costs, logistics network and business friendly environment for serving the region, as well as many raw materials.
• Average monthly nominal salary in the manufacturing sector is 400 USD (including white and blue-collar workers). Furthermore, salaries can be expected to remain competitively low given the high level of unemployment in Georgia.
• Manufacturing account for around 11% of GDP and ~ 5% of employment
• 2 Free Industrial Zones - In FIZ, businesses are exempted from all tax charges except Personal Income Tax
Opportunities:
• Large import overhang on goods that are not usually traded extensively between the countries, provides regional import substitution potential in food processing, construction materials, household goods etc
• Georgia’s current advantages in terms of handling large transshipment flows, business stability, low cost of power generation and existing raw materials/intermediate products, provide opportunities for large industrial bets, like production of iron and steel products, aluminum etc
www.investingeorgia.org 22
Poti
Batumi
Armenia
Azerbaijan
Russia
Turkey
Black
SeaKutaisi
MRNRailway
Kulevi
Tbilisi
FIZFIZ
Mestia
Several highly attractive regional production opportunities
Food
processing
Construction-Building materials
• Articles of stone, plaster, cement, asbestos, concrete and similar materials
• Articles of iron and steel - structures, tubes, pipes etc.
• Articles of wood - plywood and laminated wood
• Preparations of fruits and vegetables - oils, juices, jams, pickles, pasta, sauces etc.
• Dairy - milk, cheese, butter, yogurt
• Meat - poultry, beef, pork
Plastics
Construction-Finishing elements
www.investingeorgia.org 23
• Packaging materials
• Tubes, pipes and hoses
• Other articles of plastics
Chemicals• Cleaning materials
• Coloring materials
• Ceramic products - tiles, sanitary ware
• Glass - windows and glassware
• Furniture
Opportunities arising from Georgia’s trans-shipment flows and resources
www.investingeorgia.org 24
Opportunity Current advantages to be leveraged Potential for Georgia
• Georgia mines Manganese ore
• Georgia produces ferro alloys, largely for export (USD ~260 mln)
• Large imports of iron and steel products to Georgia (USD ~320 mln) and neighboring countries
• Vertical integration of value chain by adding production of iron and steel and related end products
• Regional import substitution
Steel production
• Georgia and Armenia export copper ores, copper waste and scrap
• Import overhang of copper products (alloys and final products e.g. wire, tubes, pipes) amounts to USD ~200 mln in the region
• Production of copper alloys and end products (regional import substitution)
Copper
• Large transshipment flows of raw materials/input (Bauxite) and aluminium cross Georgia to/from Tajikistan (largest aluminium plant in Central Asia)
• A lot of water recourses and large hydropower plants in the pipeline
Aluminium– Production of aluminium
• Value chain integration
– Production of aluminium products (fabricated or end products)
Agriculture
Overview:
• Over 22 micro-climates - a wide range of grain, vegetables, hard and soft fruits, meat and dairy could be produced
• Agriculture accounts for 10% of GDP. It contributes ~53% of employment mostly in subsistence farming (average farm size of 1.55 ha)
• Traditionally Georgia has strengths in wine and other alcoholic beverages, nuts, fruits which account for ~60% of agriculture exports
Opportunities:
• Import substitution opportunities – poultry, beef, port, dairy products (milk, cream, yogurt, butter), etc
• Export opportunities - wine, hazelnuts, walnuts, citruses, fruits, sheep meat, etc
• Opportunities for processing – tomatoes, apples, cucumbers, potatoes, stone fruits, citrus, olive oils etc
www.investingeorgia.org 25
14 potential priorities crops/livestock to focus development efforts
Georgia’s competitiveness High potential projects
Exp
ort
-led
Do
mes
tic
Nuts (cultivationand processing)
• Top 5 global exporters of nuts, ideal growing conditions, commitment from Ferrero
Grapes (cultivation and winemaking)
• Distinctive varieties and growing conditions, traditional strong industry, access to CIS market, large base of experienced and low-cost labor in the sector
Lamb (husbandry and meat production)
• Well-reputed for lamb quality, significant export potentials to Middle Eastern markets
Citrus (cultivationand juices)
• Ideal growing conditions, multiple investors already establishing fruit, processing operation, large base of experienced and low-cost labor
Beef/dairy (milk and cattle meat production)
• Big import overhang, sizeable and fast growing domestic demand, good natural conditions for rearing
Pork (meat production) • Import overhang, sizeable and fast growing domestic demand, good natural conditions for rearing
Poultry (chicken meat and egg production)
• Big import overhang, sizeable and fast growing domestic demand, commercial farms with intensive operations already in place
Olive oil (cultivationand processing)
• Large demand for oil-related products, good growing condition, access to CIS markets
Stone fruits (cultivationand juices)
• Ideal growing conditions, multiple investors already establishing fruit, processing operation, large base of experienced and low-cost labor
Tomato (cultivationand canned)
• Import overhang, low investment needed in greenhouse and irrigation, quicker to realize quality and yield improvements
Tobacco (plantationand processing)
• Sizable demand for tobacco and tobacco-related products, well-reputed for tobacco quality
Cucumber (cultivationand canned)
• Low investment needed in greenhouse and irrigation, quicker to realize quality and yield improvements
Apple (cultivationand canned)
• Ideal growing conditions, multiple investors already establishing fruit, processing operation, large base of experienced and low-cost labor
Onion (cultivation)• Low investment needed, quicker to realize quality and yield improvements
www.investingeorgia.org 26
Regional competitiveness and potentials map
Based on regional specialization (natural endowments, cultivation history), productivity and seasonality
Crop potentials by region
www.investingeorgia.org 27
Regional Logistics Corridor
Trans-Caucasian route
• Strategic location: Georgia serves as an entry gate to the Caucasus and Central Asia as well as a stepping stone to the region
• Around 80% of all types of overland international freight throughput are transits
• Great potential of better integration and development of the Region
Transport Infrastructure
• Rapidly developing road infrastructure
• Ports are cost-competitive vs. alternative routes
• FDI inflows in the logistics sector have primarily targeted transport infrastructure
Opportunities
• Deep-sea port with natural drafts for PanaMax vessel
• Containerization and logistical centers
• Direct connection with European and Central Asian railway networks (BTK project)
www.investingeorgia.org 28
Georgia is in a highly strategic location for transshipment
www.investingeorgia.org 29
China
Russia
Transit flows through the Corridor by Rail and Road(million tons per year)
Over 70% are transit flows (2013)
Central Asia/Caucasus
Europe/Turkey/RoW
www.investingeorgia.org 30
Transit Import Export
2.622.0 6.7
Central AsiaKazakhstanUzbekistanTajikistanKyrgyzstanTurkmenistanCaucasus:AzerbaijanArmenia
Georgia serves as the entry gate to a landlocked region boosting significant resource reserves
Iron ore2%USD 4 bn
Other(bauxite, gold, nickel, PGMs)
Zinc5%USD 1 bn
Copper3%USD 3 bn
Oil3%USD 100 bn
Coal5%USD 28 bn
Gas14%USD 9 bn
For comparison:region represents
only ~1.6% of global population
~126 million tonsAddressable cargo
flows fromlandlocked countries
www.investingeorgia.org 31
2010
Regional Services Hub
Leading ranks among regional economies in terms of value added and trade
Services have major share of FDI inflow of 57% in 2013 (USD 525 million)
• Financial services have grown at 19% p.a. since 2009 and is the leading service sub-sector for FDI attraction with 19% of total inflows in 2013
• Wholesale/retail trade accounts for 16% of GDP in 2013
• “An undersaturated small gem“ - Georgia ranks 7th in 2014 Global Retail Development Index by A.T. Kearney
• FDI inflows in healthcare/social work have grown at 250% p.a. since 2007
Opportunity to capitalize:
• IT/BPO services
• Regional headquarters
• Retail hub as the destination-of-choice for shopping
www.investingeorgia.org 32
Investment Funds
PARTNERSHIP FUND• Established in 2011 • Equity of the Fund: USD 1.4. bn; 100% state owned• Operating fields: Energy; Real Estate & Infrastructure; Manufacturing, Agribusiness• Provides equity and mezzanine (& senior financing in exceptional cases.) financing• Fitch ranking - BBU (Outlook Stable) in 2012
GEORGIAN CO-INVESTMENT FUND• Established in 2013• Equity of the Fund: USD ~7 bn• Invests in business projects of total cost: USD ~ 20 mln• Operating fields: Energy; Logistics; Tourism & Real Estate; Manufacturing, Agribusiness• GCF Role in Project: 7+2 Formula: 7 years Investing/Development 2 years Exit
RURAL & AGRICULTURAL DEVELOPMENT FUND• Established in 2013 as Npo.• Goal: to assist to rural and agricultural development in Georgia• Operating fields: Agribusiness• Provision of co-funding to profit-oriented agricultural projects
GEORGIAN ENERGY DEVELOPMENT FUND• Established in 2013 as fully state owned Joint Stock Company• Mission: realization of country’s alternative energy projects• Establishment of SPV with a partner(PPP); financing up to 30% equity; exit option after commissioning• R&D of full HPP projects: prefeasibility and environmental studies, construction permits, full construction projects
www.investingeorgia.org 33
Successful Cooperation with International Financial Institutions
GEORGIAN NATIONAL INVESTMENT AGENCY
• STATE AGENCY
– Promoting Georgia internationally
– Supporting foreign investments and investors
before, during & after investment process
• “One-stop-shop” for investors
• Moderator between Investors,
Government and Local Companies
Local
Companies
Investors
Government
GNIA
Mission - Attracting Greenfield and M&A Investments
www.investingeorgia.org 34
WHAT YOU CAN GET FROM GNIA
www.investingeorgia.org 35
• INFORMATION - General data, statistics, sector researches
• COMMUNICATION - Access to Government at all levels/Local partners
• Organization of site visits & Accompanying investors
• AFTER CARE - Legal advising & Supporting services
36
GEORGIAN NATIONAL INVESTMENT AGENCY
7 Bambis Rigi, Business Center Mantashevi, II floor 0105, Tbilisi, Georgia
Tel: (+995 32) 2 473 696
E-mail: [email protected]
www.investingeorgia.org
