Georgia 2020 – government’s plan of country development and Business Support

In 2014 the Government of Georgia adopted country’s socio-economic development strategy – “Georgia 2020”, which sets inclusive economic development as the main objective of the government. The notion is based on the increasing number of jobs, innovation and competitiveness of private sector. Several initiatives have already been launched to implement these ideas, including the establishment of Enterprise Georgia, with the main mission to promote the private sector In order to achieve the above mentioned Enterprise Georgia has developed specific programs and is an active implementer of the government program “Produce in Georgia” initiated by the Prime Minister of Georgia Irakli Gharibashvili.
Since June 2014 up to date, under the program “Produce in Georgia” 62 new businesses were launched with the total anticipated investment value of 111 900 000 USD. Out of those new ventures 39 have gained access to finance and the bank loan interest rates are co-financed by the government, as for the rest of the businesses government provided state owned land and buildings for the production purposes, while the entrepreneurs expressed commitment to invest around 27 300 000 USD in those new ventures.