PM Kobakhidze: new Economic Development Corporation to strengthen Georgia’s investment policy

Georgian Prime Minister Irakli Kobakhidze on Wednesday said the newly established Economic Development Corporation will play a central role in advancing the country’s investment policy through a broader and more integrated approach.

Speaking to journalists, Kobakhidze said the corporation would bring together several existing structures while introducing new services and areas of activity aimed at supporting economic growth and attracting investment.

“The work of the Economic Development Corporation will be much more comprehensive. Several structures have been merged and new services and directions will be added. Through the work of this corporation, the successful implementation of Georgia’s investment policy will be supported in a comprehensive manner,” the Prime Minister said.

Kobakhidze added the corporation will be financed through a combination of budgetary resources and other funding sources, including investment capital.

“A certain portion of the funding will come from budgetary resources, although there will also be other sources, including investment resources,” he said.

The Prime Minister noted that the corporation consolidates several existing institutions, including the state programme Produce in Georgia and the former state investment fund, creating what he described as a more coordinated framework for economic development initiatives.