Georgian PM: Tether entering Georgia sends major signal to international investors

Georgian Prime Minister Irakli Kobakhidze on Friday said that the entry of the company Tether into Georgia sends a significant message to the international investment community.

Speaking at the presentation of Tether’s investment project, the Prime Minister noted that the company was planning to make “large-scale investments” across various sectors, extending beyond business interests and focusing on broader public benefits.

“I am pleased to participate today in the opening of this very important event. I would like to clearly state that by launching cooperation with Tether, we are taking a new, very important and very interesting step on the path of our economic development”, Kobakhidze said.

He described Tether as a global technological leader managing approximately $200 billion in assets and gold reserves and serving as “a powerful bridge” between traditional and digital economies.

“We are pleased that Tether is now becoming part of our economic ecosystem as well”, he added.

According to the Prime Minister, one of the most ambitious elements of the partnership is the company’s plan to launch a digital analogue of the Georgian lari called GELt.

Kobakhidze also welcomed the company’s planned investments in social and educational sectors, saying the cooperation “goes far beyond business interests” and is oriented toward broad public benefit.

“The company’s entry into Georgia is an extremely important message to the international investment world. This fact shows that investor confidence toward our country is gradually increasing. Georgia is a reliable and trustworthy partner for international companies”, the Prime Minister said.