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Investment opportunities in Georgia Heidi Eterovic, UNDP Georgia Sophia Kenchoshvili, Georgian National Investment Agency. Country overview: Population: 4.6 mln Capital: Tbilisi Area: 69,700 sq km (26,911 sq miles) Life expectancy: 69 years (men), 77 years (women) (UN)

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Presentation Transcript
slide1

Investment opportunities in Georgia

Heidi Eterovic, UNDP Georgia

Sophia Kenchoshvili, Georgian National Investment Agency

slide2

Country overview:

  • Population: 4.6 mln
  • Capital: Tbilisi
  • Area: 69,700 sq km (26,911 sq miles)
  • Life expectancy: 69 years (men), 77 years (women) (UN)
  • Monetary unit: Georgian Lari (GEL)
  • GEL/US$: 1.6500, GEL/EUR: 2.1264
  • 2008 GDP: US$ 12.8 bn
  • 2008 GDP per capita(PPP): US$ 4,851
  • Real GDP Growth: 2% in 2008, 12.4% in 2007, 9.4% in 2006 and 9.6% in 2005
  • Inflation rate (e-o-p): 5.5%

Source: CIA Fact book, Dep. of Statistics

slide3

Why Georgia?

  • FDI and export promotion #1 priorities of the government
  • Favorable conditions for business: # 19 by Ease of Doing Business
  • Strategic location, and liberal trade regimes
  • Growing ties to the EU
  • Opportunities in investment and sourcing.
slide4

Investment sectors:

  • Energy sector: government support to renewables
  • Agriculture sector: organic production, processing
  • Agriculture sector: sourcing, water, wine
  • Education, technical consulting and services
slide5

State Program: Renewable Energy 2008

  • List of 87 sites, capacity ranging from 5 mw- 60 mw
  • Investors interested are required to submit a standard application form
  • Will be available for other investors for 30 day period
  • Bank guarantee in the amount of US 170, 000 per mw of prospective capacity.
  • The land will purchased at a nominal price
  • Electricity generated can be sold either domestically or abroad.
  • Export Markets:
  • The Georgian power grid is connected to the grids of all neighboring countries and can work in synchrony with Russia and Azerbaijan
  • Once the HVTL Armenia-Georgia line becomes operational, Georgia will have the ability to export electricitynot only to Armenia, but also to Iran
  • Prior to that, Turkey and, to a lesser extent, Azerbaijan and Russia, are the most attractive markets for electricity exports
  • Turkey is the most attractive market to export electricity with the existing 220kV transmission line and DC link – no synchronisation required. Furthermore, once the construction of the 400-500kV transmission line is completed (due tentatively in 2011) capacityfor export will increase drastically
slide6

Agriculture sector: 100 new enterprises in rural areas

  • State will undertake obligation to develop road and amelioration infrastructure
  • On preliminary stage collection of 100 lots of land an competitive selection of investors will be launched
  • At the same time upon specific request of investor selection of land necessary for creation of such enterprise will take place
  • Size of land lot exceeds or matches 200 ha and lot could consist of different partials

Criteria for selection:

  • Payment of maximal price for land partial
  • The best investment conditions among the candidates

Conditions for the winners:

  • Payment of maximal price and implementation of investment project
  • In standard case enterprise shall be created during 1 year
  • Investor pays 20 % of Price
  • In the investor meets all the contractual demands, rest 80% shall not be paid
slide7

Poti Free Industrial Zone: The first industrial zone in the Caucassus region

  • Location: adjacent to the Poti Sea Port – largest port on the Black Sea
  • Total Free Zone Area: 300 ha with water frontage of Rioni River and Black Sea on two sides
  • Logistics: well connected to the highways, railroads and international Tbilisi and Batumi Airports

Key investment sectors:

  • Manufacturing
  • Small/medium enterprises
  • Warehouse and container storage
  • Transport and logistics
  • High tech industry
  • Raw material industry
  • Storage and trade
  • Maintenance and Reconditioning

Advantages of the FIZ in Poti:

  • Competitive rates of lease of land, warehouse and container storage areas
  • 100% ownership of companies operating in PFIZ
  • No foreign exchange controls
  • 100% exception from profit tax
  • 100% capital and profit repatriation
  • No restriction on hiring expatriates
  • Exempt of VAT payment on import and export of goods
  • No trade barriers of quotas
  • Low cost of energy
slide8

Contacts:

Sophia Kenchoshvili: skenchoshvili@investingeorgia.org

Heidi Eterovic: heidi.eterovic@undp.org

www.investingeorgia.org

www.undp.ge

www.agro100.ge

www.minenergy.gov.ge

www.economy.ge

www.investmentguide.ge

Thank You!