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PM introduces new opportunities

By Tea Mariamidze
Friday, September 30
The Prime Minister of Georgia, Giorgi Kvirikashvili, stated at the Cabinet sitting on Thursday that the government offers renewed approaches and guaranteed employment after studies for the graduates of vocational institutions in the country.

Kvirikashvili said that from October 3, registration in 150 renewed and 50 new vocational institutions would be launched by new-dual development system.

“The state fully finances students’ studies. We also ensure free transport and accommodation for socially vulnerable students. The institutions are adapted for disabled people as well,” said the PM and reiterated that the students who studied at vocational educational centers would be guaranteed a job after completing their studies.

Moreover, the PM stated that the implementation of the large-scale Anaklia Port project will start and added that the investment agreement between the Government of Georgia and Anaklia Development Consortium was also approved and signed at the government meeting.

Kvirikashvili said the working process will start this year and in three years the port will become functional.

The first component of the nine-phase agreement envisages twofold increase of the container carrying capacity of the country.

“We have high hopes for this project. Only the first phase of implementation of the project envisages investment in an amount of 586 million USD and we can definitely say that the project is being launched," Kvirikashvili noted.

Furthermore, the PM said that several large international investment funds will soon make investments in Georgia. According to him, Georgia’s state-owned shareholding company, the Partnership Fund (PF), and other major investment funds are going to become partners. Also, for the first time, the PF will invest in an international consortium that will support small and medium-sized enterprises (SMEs) in Georgia.

According to Kvirikashvili, the PF will become a partner of a Canadian investment company, the Gazelle Fund, which will initially invest $27.5 million and this sum will increase up to $70 million in the future.

“Moreover, the co-investors of the fund are a Dutch state-investment fund, the Dutch Good Growth Fund (DGGF), and the Netherlands Development Finance Company (FMO),” said Kvirikashvili.

The PM said the PF would support Georgia’s energy sector as well, by making agreement with US investment group Schulze Global Investments.

“In the near future, the PF plans to attract two large investors – the Maclellan Foundation from the US and French investor Dominique Romano – who will each pledge to invest $10 million in Georgia,” said Kvirikashvili.