Georgia is planning to build a new factory with a total investment of 3,872,268 GEL (about $1.58m/€1.46m*) in the capital city of Tbilisi to foster its growing textile industry which will also create employment once it becomes operational.
In total 231 projects are supported within the ‘Produce in Georgia’, announced Georgia’s Ministry of Economy. Over 512 million GEL (about $209m/€194m*) has been spent to bring these 231 projects to life. In total 10,311 people are employed in enterprises created within the framework of ‘Produce in Georgia’.
Meanwhile, commercial banks lent 280 million GEL (about $114m/€106m*) to project beneficiaries.
The textile sector encompasses about 200 companies, 95% of which are micro-enterprises, while 5 large Turkish companies and 12 Georgian manufacturers employ respectively 3,000 and 2,000 people. The main export markets are Turkey, CIS (including Russia) and the EU.
Major brands such as Tommy Hilfiger, Zara, Marks & Spencer, Koton, Puma, Mexx, Next, George, Etam, Lotto, Per Una, Autograph, Lebek, Hawes & Curtis, Roberto Cavalli now produce apparel in Georgia, thus promoting the “Made in Georgia†label.
Georgia aims at developing the manufacturing of inputs as well as higher value products.
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