TEPCO plans to invest in Georgia's energy sector
Japan's largest energy company, Tokyo Electric Power (TEPCO), will invest in Georgia. This was announced by the Minister of economy and sustainable development of Georgia Natia Turnava after the presentation of the business support program under the government's anti-crisis plan.
TEPCO is the operator of the Fukushima-1 nuclear power plant, which had a major accident in 2011 due to a powerful earthquake and tsunami. Currently, the holding company with several subsidiaries operates in four business segments. The range of activities of TEPCO is very large-from the provision of Advisory services to the production of electric car chargers. Turnava did not specify in which sphere of Georgian energy the Japanese company plans to invest.
The head of the economy Ministry added that against the background of global problems, Georgia has new opportunities, as many investors are now thinking about transferring their production capacity from China. Companies are taking this step because of the coronavirus pandemic, which has disrupted supply chains between trading partners.
"We are negotiating. I don't want to speak prematurely, because this is still a negotiation, but believe me, Japanese, South Korean, and German companies have already expressed their desire to move part of their supply chain to Georgia, because we offer an attractive, democratic business environment, a stable economy, transparent legislation, low taxes, and updated programs that will be presented as part of the post — crisis plan. We are working hard on how to encourage this process. At the same time, we will offer such businesses additional levers to show our political will and how open we are to being their number one choice," Turnava said.
Source newsgeorgia.ge
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TEPCO plans to invest in Georgia's energy sector
Japan's largest energy company, Tokyo Electric Power (TEPCO), will invest in Georgia. This was announced by the Minister of economy and sustainable development of Georgia Natia Turnava after the presentation of the business support program under the government's anti-crisis plan.
TEPCO is the operator of the Fukushima-1 nuclear power plant, which had a major accident in 2011 due to a powerful earthquake and tsunami. Currently, the holding company with several subsidiaries operates in four business segments. The range of activities of TEPCO is very large-from the provision of Advisory services to the production of electric car chargers. Turnava did not specify in which sphere of Georgian energy the Japanese company plans to invest.
The head of the economy Ministry added that against the background of global problems, Georgia has new opportunities, as many investors are now thinking about transferring their production capacity from China. Companies are taking this step because of the coronavirus pandemic, which has disrupted supply chains between trading partners.
"We are negotiating. I don't want to speak prematurely, because this is still a negotiation, but believe me, Japanese, South Korean, and German companies have already expressed their desire to move part of their supply chain to Georgia, because we offer an attractive, democratic business environment, a stable economy, transparent legislation, low taxes, and updated programs that will be presented as part of the post — crisis plan. We are working hard on how to encourage this process. At the same time, we will offer such businesses additional levers to show our political will and how open we are to being their number one choice," Turnava said.
Source newsgeorgia.ge
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