Government of Georgia government.gov.ge |
Mamuka Bakhtadze: We have all the potential to transform Georgia into a high-tech manufacturing country
2019-05-22 I strongly believe that we have all the potential to transform Georgia into a high-tech manufacturing country, Georgian Prime Minister Mamuka Bakhtadze stated in his speech at the announcement event of a new 650,000 GEL grant program for innovations. The new program seeks further to encourage startups in Georgia. The Prime Minister introduced the audience to new measures planned in this direction and pointed out that, in the nearest future, a new legislative initiative on startups will be submitted to Georgia's Parliament. The Prime Minister underlined Georgia's potential for the development of high technology by stating that the country has an opportunity to turn into one of the most important high-tech exporters. Another law in review in Parliament involves international companies in Georgia. The Head of Government informed the startups about unique tax cuts to apply on the basis of this law to companies with regional offices in Georgia. "We need giant companies, big names, in Georgia to enable you to obtain very significant commissioning contracts and to become part of the large ecosystem. We have unique tax cuts for companies with headquarters in Georgia. They will have branches for research and development. Mamuka Bakhtadze also spoke about the obstacles to access to financing. In the nearest future, the Government will present a new draft law on investment funds, including venture funds to enhance startups' access to venture capital, the Prime Minister said. The Head of Government, in his speech, also discussed the importance of the educational reform, and underlined that this idea of national importance will serve as the guarantee of a prosperous, unified, and strong Georgia. The program for co-financing innovative grants is implemented by the Innovation and Technology Agency at the Georgian Ministry of Economy and Sustainable Development, with support from the World Bank. The events at Tech Park was attended by the Minister of Economy and Sustainable Development of Georgia, representatives of the World Bank, experts, and startups.
Prime Minister's Press Office
|