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Minister of Economy: We Plan to Attract about 200 million FDI to Mines Sector in 2019

“Mines sector is one of the key segments of our economy in terms of employment and attracting investments and promoting exports”, Minister of Economy Giorgi Kobulia noted at his meeting with the sector representatives.

The head of LEPL National Agency of Mines of Ministry of Economy introduced a report on the agency performance and plans.

“Our meeting with the sector representatives raised much interest. We have shared our considerations to each pother and discussed the current challenges. It is very important that we will attract about 200 million USD foreign direct investments (FDI) to the mines sector. We expect the exports to hit 600-700 million USD. This is a huge amount for Georgia. Therefore, we make special emphasis on this direction”, the Minister noted. 

We always welcome similar meetings, because the Government receives useful recommendations from the business sector, Giorgi Kobulia said. 

“We will implement these recommendations soon. These recommendations refer to licensing, various regulations and simplification of legislative aspects to make this sector more attractive for foreign and Georgian companies”, the Minister noted.

At the presentation the parties noted that in 1Q19 the sector-mobilized investments made up 30 250 000 GEL and about 350 new job places were created.