The total investment in projects supported by the Enterprise Georgia state campaign has exceeded ₾3 billion ($1bln/€980mln) with about 9,000 projects implemented and up to 58,000 jobs created, the agency announced on Thursday.

During the presentation of the Enterprise Georgia’s Economic Impact Assessment Report earlier today, campaign Head Mikheil Khidureli said each Georgian lari co-financed in the programme had generated 15 times the revenue for the businesses and contributed 1.6 times the money to the budget in the form of taxes per year. 

Khidureli also noted each co-financed Georgian lari had generated an additional ₾5 ($1.7/€1.6) of gross domestic product, saying the agency’s programmes had a “direct rapid and measurable effect” on the county’s economy. Photo: Enterprise Georgia 

The report includes results of 292 beneficiaries of the industrial sector who were selected for evaluation based on data from the last five years.

Georgian Economy Minister Levan Davitashvili, who also attended the event, stressed the importance of creating a “sustainable category” of small and medium-sized businesses that are “most vulnerable”, in efforts to withstand economic shocks. 

Additionally, Kidureli announced the launch of a concept for developing a business hub for supporting local business projects in regions of Georgia and providing training in a variety of areas with the support of the United Nations Development Programme and the United States Agency for International Development.