Generally speaking, agriculture has both significant economic and social functions in Georgia and abroad. The agricultural sector of Georgia employs more than half of the country's workforce and hence, for most of the families, the income from agriculture of Georgia is the only source of their livelihood. According to the latest business news, the interest in the private agricultural sector, as well as in the volume of investment is not high. However, there are various examples of successful perspectives on how to owe local and foreign investment in agriculture. Below, you can see some of the main reasons for a healthy and prosperous environmental investment in the agriculture of Georgia.
It is widely known that Georgian agriculture has favourable and convenient natural resources and conditions for agricultural production. In Georgia, there are around 22 different climates, either cold and dry, as well as humid and warm. Almost half of Georgia's total area (territory) may be used as agricultural land for enhancing the country's economy from that sector.
Moreover, there are naturally convenient conditions and geographical locations for vegetable, grain, fruit and sub-tropical crops and their production. Almost the entire area of the country can be directly thought of as fertile land where a variety of crops can be harvested without any obstruction. At the same time, it is noteworthy to say that the country is highly rich in irrigation systems and water resources that exist in almost every region. But even today, there are some regions in Georgia, that still do not have enough water resources to produce products.
It is noteworthy that "Deep and Comprehensive Free Trade Agreement" (DCFTA) along with the EU, gives the possibility to Georgia, according to which it can produce its agricultural products to meet the required security and safety standards. That would then enable the chance of the entrance the EU market along with a zero custom tariff. Furthermore, Georgia maintains an agreement with Turkey, China, and the former Soviet countries about agrarian tariff reduction. These countries significantly simplify Georgia's product export and help to expand the market for goods that are produced in Georgia, which, of course, is attractive and favourable for investors.
Hiring workers or Boers people in the agricultural sector of Georgia (and not only) is often inexpensive. According to the statistics of 2016 data, more than 60 per cent of workers or Boers people were employed in agriculture. Between Georgia's industrial sectors, agriculture is considered to be the lowest-paid out of all. For example, following the data, in the first half of 2016, the index in the agricultural sector was 1 GEL each month. This number appeared much lower as compared to the numbers in most EU countries.
Since 2012, financing for Georgia's agricultural sector has highly increased, and hence, the development of this sphere became one of the top priorities for the country. Later, in the 2017 state budget, Georgia's agriculture was planned to be financed by 238 GEL million. It is important to note that since 2013, Georgia's agro credit program had funded more than around 700 existing and approximately 150 new enterprises at low-interest rates. In addition to that, the state was actively engaged in the following directions, such as arising awareness of farmers and Boers people for providing effective agricultural services. Besides, it aims to gather the agricultural latest information better, to collect data collection for market information, to process effective delivery of the farm information for workers who are employed in the agriculture sector of Georgia, to register farmers, etc.
The recent economic situation in Georgia Georgia is a middle-income country with a per capita GDP of 4046.8 $ (According to Geostat, 2017). Despite ongoing reforms and rapid economic growth, Georgia still faces financial challenges, including the need to tackle poverty and unemployment. It is noteworthy to say that the first years of an independent market-based economic system for Georgia were incredibly difficult. That is mainly because of the civil strife, hostilities in Abkhazia and South Ossetia, energy and transport blockades, extremely tense criminogenic environments, and the loss of old, traditional ties and suppliers. Additionally, high rates of labour migration are a small list of the negative factors that led to the unprecedented economic downturn, hyperinflation, and catastrophic rise in unemployment in the first years of independence. Besides, the country is facing the need for radical and rapid economic reforms, the gradual implementation of which has significantly improved the situation but has not yielded the desired results, especially in terms of reducing unemployment and poverty. Despite the relatively high rate of economic growth in previous years, the situation of a large part of the population has not changed according to the latest business news. Accordingly, the goal of the Government of Georgia is creating a long-term foundation for inclusive economic growth and improving the well-being of the population. Government of Georgia announces strategies for the country's economic growth Georgia's socio-economic development strategies are described in the document "Georgia 2020". According to these strategies, the Government of Georgia is based on three main principles, which are the following: The
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