Israel-Georgia Chamber of Business: Restoring Tourism Will Encourage Investors

From May 22, following the lifting of the imposed state of emergency restrictions, the Israel-Georgia Chamber of Business will start functioning with a special plan tailored to the current situation.

Itsik Moshe, the President of the Israel-Georgia Chamber of Business, believes that given the current conditions of the coronavirus pandemic, choosing the right priorities is crucial for the successful and rapid renewal of economic activities.

The Israel-Georgia Chamber of Business believes that in the case of Georgia, this could be more active care for attracting direct investments and tourism. The Chamber of Commerce, based on 25 years’ experience in promoting economic cooperation between Georgia and Israel, sees special potential in working with Israeli investors and tour operators. Currently, the organization is negotiating with several business unions, which are now getting acquainted with the business environment and coronavirus-related situation in Georgia.

Moshe says that right now, tourism can become, directly or indirectly, a stimulus for the economy, especially for foreign capital, as the reception of international travelers will have a tenfold positive impact on the country's image.

The President of the Israel-Georgia Chamber of Business recalls 2002, when at his and the Georgian government’s initiative, and with the support of the Israeli Ministry of Tourism, the first tourist representation of Georgia opened in Israel.

Despite the difficult situation and pessimism in certain sectors back then, it was the encouragement of tourism that played the role of an important mediator between the countries, which was later followed by an unprecedented inflow of private investments from Israel. Currently, its volume exceeds $500 million, and the contribution of tourists from Israel to the Georgian economy is $1 billion.

At the same time, the Israel-Georgia Chamber of Business considers it important to develop the investment already received from Israel in Georgia.

"Businesses need to be aware of the challenges, but they also need the support of the state. This topic is especially sensitive for foreign investors. If we are able to solve the problem, several Israeli investors are facing this year for objective reasons, it will be the best message for other businesses to invest in Georgia,” says Moshe, adding that this year, in December, the Israel-Georgia Chamber of Business, on the occasion of the 25th anniversary of its activities, will hold an Israeli Week, which will be attended by a delegation from Israel.

It will be a large-scale event for the Chamber of Business, which will be joined by partners from Europe and Israel. The Israel-Georgia Chamber of Business is a member of the Georgian National Committee of the International Chamber of Commerce (ICC Georgia) and The World Chambers Federation (WCF). This is an international platform that will contribute to working on investments with Israeli business organizations.

During the Israeli week, along with other issues, business activities in Israel to Georgia will be summarized in the conditions of the pandemic. In addition, the Israel-Georgia Chamber of Business will also present an action plan for 2021.

"The 25-year activities of the IsraelGeorgia Chamber of Business and the recognition and active support of its activities by the Israeli and Georgian governments have given Georgia even more opportunities to use Israel's experience and potential.

“The economic conferences organized by the IsraelGeorgia Chamber of Business usually have the support of the heads of the countries, for example, in 2012, Prime Minister Benjamin Netanyahu wrote: "Dear members of the Israel-Georgia Chamber of Business, I am convinced that in the coming years you will continue to strengthen, encourage and expand these activities to support Israel and Georgia and their people."

“The Israel-Georgia Chamber of Business also successfully cooperates with the Government of Georgia, providing proposals, expert assessments, and solving a number of problems that naturally always occurs with business. We believe that right now, against the backdrop of difficult challenges, the priorities and methodology we have proposed will be as effective as the numerous initiatives launched and implemented in the difficult 90s and in the following years,” says Itsik Moshe.