The Memorandum of Understanding was signed between the Ministry of Economy and Sustainable Development of Georgia and Georgia Growth Fund LLC (Registration Code: 404462238) to attract foreign direct investment worth at least one billion US dollars over the period of 5 years to Georgia from the People's Republic of China.
According to the document, the company undertakes to facilitate the attraction of foreign direct investments in Georgia - to attract investments worth at least sixty million US dollars during the first year, and at least one billion US dollars over five years.
Within the framework of this Memorandum, in accordance with the effective Georgian legislation, high-level investors who make a significant contribution to the development of the Georgian economy may be applied benefits determined under the Organic Law of Georgia on Georgian Citizenship Art. 17.2.
Georgia Growth Fund expresses its readiness to submit an annual report to the Ministry of Economy on the results achieved, the amount of investments attracted and investors.
“The Ministry will use its best efforts, within its competence and in accordance with the legislation of Georgia, to assist the company in achieving the goals set forth in this Memorandum,” - the memorandum signed between the parties states.
