DANFOSS GROUP INTENDS TO OPEN AN OFFICE IN GEORGIA Print Version

2019-07-01

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World leader in machinery and equipment manufacturing - Danish Danfoss Group - is opening its office in Georgia in October this year. It became known at a meeting of Jorgen M. Clausen, Chairman of the Board of Directors at Danfoss Group with Mamuka Bakhtadze, Prime Minister of Georgia held in Dalian today within the scope of the World Economic Forum (WEF).

Head of Government of Georgia spoke with the Danish company manager about the attractive investment environment in the country, low rate and number of taxes, along with incentives offered to large transnational corporations upon incorporation of their regional offices in Georgia.

According to Jorgen M. Clausen, Danfoss Group also plans to assist the Technical University of Georgia in the development of modern technologies and in establishing new Research and Development (R&D) lab with a funding of 25 000 USD.

Head of Government of Georgia welcomed the corporate decision and noted that education is the national idea to be funded with 6% of Gross Domestic Product (GDP), i.e. quarter of the State Budget within the scope of an amendment made to the legislation of the country.

Prime Minister of Georgia assured Danfoss Group in his support and urged the company management to further broaden its exposure to Georgia.

At the meeting held today it also became known that Jorgen M. Clausen, Chairman of the Board of Directors will visit Georgia in October to personally explore the specific areas of future cooperation.

Danfoss Group manufactures products and provides services used in cooling food, air conditioning, space heating, controlling electronic motors, gas compressors, variable-frequency drivers and powering mobile machinery.

Company operates 71 factories worldwide, 23 R&D centers and sales companies in 50 countries. Its annual revenues exceed 6 billion Euros. Danfoss Groups employs 28 000 people globally.

Prime Minister's Press Office