Georgian Parliament Speaker: Georgia must invest in technology to ensure rapid, sustainable economic development

Georgian Parliament Speaker Shalva Papuashvili on Saturday said that investment in technology and innovation is essential for Georgia to achieve rapid and sustainable economic growth.

In his remarks, Papuashvili noted that the IT sector has experienced particularly rapid growth in Georgia in recent years, including during and after the COVID-19 pandemic.

“In the modern world, these are precisely the directions where, if the state wants to have rapid and sustainable economic development, it must invest. Georgia is advanced in this regard. The development of business in the field of IT technologies in our country had a leapfrog character, especially during the pandemic and afterward, when IT specialists from abroad entered Georgia. Georgia, as an attractive space and country, remains to this day a place for the production of IT services, and in this regard its contribution to the economy and the budget is at a record level”, he said.

The Speaker emphasised that the sector now makes a record-level contribution to Georgia’s economy and budget, making continued state support especially important.

“Accordingly, the state must also support this in every way - whether infrastructurally or through other legislative frameworks - so that Georgia is attractive for this field”, Papuashvili concluded.

The first technology hub of the Innovations and Technologies Agency of the Ministry of Economy and Sustainable Development was officially opened in Kutaisi on July 24.