Sectors & markets

Georgian Investment Promotion Agency

Investment platform

Georgian Investment Promotion Agency

 

31 May 2019

 

On May 2019, the representatives of the platform Georgia Investment Promotion Agency gathered officials and companies in order to present their activities.

 

The platform GeIPA (Georgia Investment Promotion Agency) has 3 main directions:

  • Investment
  • Export
  • Services to businesses

 

Investment

 

Their goal is to attract FDI for the growth and the development of projects. To achieve it, they are putting at the disposition of users on their website information about the economic context of Georgia, the key industries, and also about the investments with an interactive maps of Georgia. At this stage, only the region of Tbilisi is completed.

 

Export

 

They define their mission has the following: “to promote the attraction of FDI and the exports of goods and services, as well as the internationalisation of Georgian companies in order to contribute to Georgia’s economic and social development and strengthen the country’s image as a strategic business partner”.

Their website is giving users access to the site ‘Georgian Business Hub’, that is listing by sector of activities Georgian companies. The companies are ranked also according to two categories: ‘Best businesses in Georgia’ and ‘the most popular services in Georgia’. How these rankings are decided is not specified.

The users also have access to the page VEXPO, that is a platform assisting businesses on event preparations and online marketing (virtual fairs, alumni network,…).

 

Business Services

 

The platform position itself as a “one-stop service”.

 

Pre-investment consultation

  • Preliminary information study: search and provide information required for the investment feasibility study.
  • Find potential investors and arrange consultation: find investment partners.
  • Consultation on specific sectors: incentives, legal affairs, accounting, taxation, industrial sites
  •  

Investment execution

  • Investment notification: receive notification of foreign investment (issuance of a certificate of foreign investment)
  • Arrival of investment: issuance of registration certificate of foreign invested company
  • Search for a factory site: look for optimal factory site for investors and provide relevant administrative services
  • Corporate establishment: support or corporate registration and licensing and approvals.

  •  

Post-investment service

  • Foreign investment: Home doctors resolve the grievances of foreign invested companies
  • Visa extension: handle works related to alien registration and extension of stay
  • Support life in Georgia: search for houses, foreign schools and surroundings living facilities to help workers of foreign invested companies and their families get settled in Georgia.

They also provide consultants in order to export.

 

Signature of memorandum

 

At the end of the event, the agency and different institutions signed a memorandum of cooperation in order to deepen the activities of the platform.

Feemoza

Feemoza is the “World Free & Special Economic Zones Federation” that is a NGO created in Switzerland in 1999.  The NGO was granted by UNCTAD and UNIDO the status of Observer. They have signed 54 MOU’s with governments and International Institutions worldwide.

Their goal is to assist “Free & Special Economic Zones worldwide and especially in emergent countries as well as to find tools to create jobs, to improve and increase the local economy and to get prosperity for the people in the region”.

They decided to open a representative office in Georgia as ‘Per Mr. Amirreza Hassani previous report, the problems and the most important demands of the Georgian government are to bridge the gap of knowledge.”

They are providing master classes, workshops, trainings on the management of free zone –on the best practices in order to increase the skills of the labour force.

From July, will be available on the platform GeIPA a page on the legislation of the free zones, on the bilateral agreements, …

The advice of Juan Torrents, Feemoza’s president:

“The Free Zone should sell their country before selling their Free Zone.”

 

World Business Angels Investment Forum

The WBAF is in the process of establishing angle investment fund with the participation of members and partners of the World Business Angels Investment Forum, with the aim of providing financing for high growth companies, startups, scale ups, entrepreneurs and SME’s. The fund will cooperate with corporate ventures, venture capitalists, public institutions and angel investor networks throughout the world to create co-investment funds that bill leverage the investment market, sizes, both locally and regionally.

In the USA, business angels invested up to 20 billion USD and in Europe up to 6 billion USD.

 

BP&Partners

Established in 2003, BP & Partners is a boutique global strategy consultancy firm, with entrepreneurial culture and operationally-focused advisory philosophy. They are committed to help their clients navigate through the fast-changing environment with fluid adaptability and business growth tools.

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