Georgia, Japan sign agreement on mutual protection of investments

Japanese Ambassador to Georgia Imamura Akira and Georgian Economy Minister Natia Turnava signed an agreement.

Georgia and Japan have signed an agreement on investment liberalisation, promotion and protection that aims to encourage investment inflows from Japan to Georgia, announces the Ministry of Economy of Georgia.

We will do our best to bring as many Japanese investors as possible into various fields of the Georgian economy to create new jobs especially in the post-Covid period, when we need active investments”, said Georgian Economy Minister Natia Turnava.

Japanese Ambassador to Georgia Imamura Akira said that this new agreement will be ‘a very good message to Japanese businesses that the business environment in Georgia has been improving more and more’.

The agreement ensures the protection of investments and the liberalisation of new investments in Georgia. We have high hopes that Japanese-Georgian cooperation in this field will further develop”, he said.

There are 26 companies operating in Georgia with the participation of Japanese capital.

According to Q3 2020 data, investments from Japan in the Georgian economy amounted to $15.4 million and the main investment sector was energy.

In the spring of 2020 one of the largest Japanese energy companies, TEPCO Renewable Power (TEPCO RP), acquired 31.4% of the shares of Georgian hydropower company Dariali Energy.