The FINANCIAL -- First Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development Dimitry Kumsishvili officially opened the LLC Tiflis Textile – an enterprise, which is the beneficiary of the Enterprise Georgia program.
Dimitry Kumsishvili, accompanied by the newly appointed Head of the Enterprise Georgia, Mikheil Khidureli, examined the working process of the enterprise, according to the Ministry of Economy and Sustainable Development of Georgia.
The LEPL National Agency of State Property handed over the plot of land of 9492m2 and the structures on in to the LLC Tiflis Textile.
The LLC Tiflis Textile received 190 000 GEL co-financing from the Enterprise Georgia which facilitated the company to equip the factory with the high-standard modern machinery.
As the First Vice Prime Minister noted, the sock-producing company uses two components of the state program – assess of finance and infrastructural support components, according to the Ministry of Economy and Sustainable Development of Georgia.
“Projects financed within the Enterprise Georgia program worth the outcomes we receive – enterprise of highest European standards that produces men, women and children socks of highest quality. At this point, total investment of 6 million GEL,” – Dimitry Kumsishvili stated.
The First Vice Prime Minister also highlighted that at this starting stage, the company has 50 employees, while at the following stage the number of employees will be at least doubled.
“The Tiflis Textile products will enjoy the high demand at the local market since the socks are of highest quality. However, the production is export-oriented, which will certainly have a positive impact on our tax balance and will bring more foreign currency into the country,” – Dimitry Kumsishvili added.