On 21 March, the European Union presented its External Investment Plan at a regional launch event in Tbilisi. Under the plan, the EU will mobilise a contribution of 4.1 billion euro (GEL 12 billion) that will leverage up to 44 billion euro (GEL 130 billion) of investments from public and private sector from 2017 to 2020 more than 70 economies around the world, including Georgia and other Eastern Partnership countries.
The event in Tbilisi is part of a series of outreach events for public and private sectors across the region. These events have brought together private sector businesses, business communities, national authorities, partner international financial institutions to provide an opportunity to network with key private and public sector stakeholders and to discuss investment opportunities in various sectors.
Experts and participants discussed the challenges and potential in some of the specific sectors to be covered initially within the External Investment Plan. Among them are: sustainable energy and connectivity, sustainable cities, MSMEs, digitalization and agriculture.
Katarina Mathernova, Deputy Director-General for Neighbourhood Policy and Enlargement Negotiations noted: “Our partnership approach is geared at promoting entrepreneurship, trade and new investment opportunities. This is in view to address obstacles to growth, to promote inclusive growth and job creation, and to deepen economic integration”. She stressed that the External Investment Plan is another sign of the strong commitment from the EU to encourage and help boost economic growth through private and public investment in Georgia, as well as other Eastern Partner countries.
The EIP supports partner countries by: developing a favourable investment climate and business environment; mobilising finance – through the European Fund for Sustainable Development; providing technical assistance to help prepare investment projects.
The External Investment Plan (EIP) was adopted in September 2017 to help boost investment in partner countries in Africa and the European Neighbourhood. It aims to:
- contribute to the UN’s sustainable development goals (SDG) while tackling some of the root causes of migration;
- mobilise and leverage sustainable public and private investments to improve economic and social development with a particular focus on decent job creation.
