Georgian Economy Minister says Gov’t has made development of technological, innovation ecosystem “key economic priority”

Mariam Kvrivishvili, the Minister of Economy and Sustainable Development of Georgia, on Friday said the Government had made the development of the country’s technological and innovation ecosystem “one of the main priorities” of its national economic policy.

Speaking at the presentation of the investment project of Tether, described as the world’s largest blockchain technology-based platform, Kvrivishvili noted that the state had created a competitive environment for innovation through flexible tax policies, support for the IT sector and a favourable business environment.

According to the Minister, the Government’s policies had already resulted in hundreds of funded startups, Georgian companies participating in international acceleration programmes, a growing technology community and a new generation that sees its future in innovation and technology.

The presentation was opened jointly with Georgian Prime Minister Irakli Kobakhidze.

“The modernisation of the financial sector, support for fintech innovations and a technology-oriented vision create a solid foundation for Georgia to gradually establish itself as a regional technological and financial hub”, Kvrivishvili said.

“In this regard, the activities of companies such as Tether in Georgia are of particular importance. The company is actively investing capital into Georgia’s technological and innovation ecosystem, particularly local startups and educational platforms. Tether uses Tbilisi as its main regional operational base and directs investment resources toward financing startups”, she continued.

The Minister added that the company’s interest in Georgia sent “a very strong message” to the international technology sector.

“This means Georgia is already perceived as a country with a stable economic environment, a growing technological ecosystem, innovation-oriented state policy and the ambition to become a technological hub”, Kvrivishvili said.

She further stressed that the presence of such global companies in Georgia meant sharing expertise, creating new opportunities, connecting local talent to international networks and integrating Georgia into the global innovation economy.

Among the speakers at the event were Tbilisi Mayor Kakha Kaladze, Natia Turnava, the governor of the National Bank of Georgia, Georgian MP Vako Turnava, and Paolo Ardoino, CEO of Tether. The company’s founder, Giancarlo Devasini, also visited Georgia as part of the investment project presentation.