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Economic Minister visits USA

By Tea Mariamidze
Friday, March 11
Minister of Economics and Vice-Premier Dimitri Kumsishvili stated that the Overseas Private Investment Corporation (OPIC), which has implemented several projects in Georgia, will continue its cooperation with the government in the future.

American Company OPIC provides financial support such as loans and guaranties, political risk insurance and support for investment funds to help businesses in America and abroad expand into emerging markets.

The meeting of the Georgian Minister of Economics with the OPIC President and Executive Director Elizabeth Littlefield was held on March 10 within the working visit of Kumsishvili to the USA.

It was mentioned that with the assistance of the OPIC, more than 50 projects have been implemented in various sectors of Georgia. Kumsishvili thanked Elizabeth Littlefield for the assistance and expressed hope that the OPIC will also get involved in the project of the deep-sea Anaklia Port in Western Georgia.

The importance of the Anaklia Port was also underlined by the Minister at the reception, held within Global Infrastructural Forum, by the Georgian side.

According to Kumsishvili, the restoration of the Anaklia Port is important not only for the Georgian economy, but for global logistics as a whole, like the New Silk Road project.

“This is kindness which will return back to our country by means of the Anaklia Port's development, and it will strengthen the role of Georgia in the Silk Road project,” Kumsishvili said at the reception.

The minister noted that for the implementation of the initial stage, 550 million direct foreign investments should be made. He also added that a free industrial zone will be arranged near the port, which will create thousands of new jobs.

Kumsishvili also met with the US State Department Assistant Secretary, Kurt Tong. The meeting reviewed the strategic cooperation between the two countries, including the meeting of US-Georgia Charter on Strategic Partnership, planned by the economy, energy and trade groups, to be held in Georgia.

The sides discussed issues such as small and medium business development, as well as bilateral trade and investment promotion.