Advancing Georgia’s digital economy through partnership

January 16, 2023 | By Yasemin Bedir
Digital transformation harbors great potential for emerging markets who want to build strong, modern, resilient digital economies, and Georgia is no exception. I am proud to say that we have been operating in Georgia for over 22 years, and during this time, we’ve launched a number of innovative solutions in the country, driving the country’s domestic payments ecosystem forward in partnership with key stakeholders.

It is a country we know well, and we are always eager to work closely with partners to advance the digital transformation journey in various sectors. Our recently-signed memorandum of understanding with the USAID Economic Security Program is a perfect example.

With the support of the Ministry of Economy and Sustainable Development, we launched a digital partnership that strengthens the digitization and e-commerce capacities of Georgia’s small and medium enterprises, data analytics for tourism promotion, and the ecosystem for fintech solutions.

This collaboration is a significant step toward strengthening Georgia’s digital economy and positioning the country as a stronger global competitor in the tourism industry. It will allow USAID to expand its fantastic work with major private sector partners all over Georgia.

These projects will help businesses expand, and create higher-paying jobs in communities around the country. It will also help increase tourism growth, which is an important part of the economic recovery. In the first four months of 2022, Georgia recorded an 272% increase in international travelers, though that’s still lagging pre-pandemic levels.

The only way we’re going to achieve sustainable and inclusive growth is by building a more connected ecosystem and thriving world beyond cash, where everyone has equal access to a better life. Georgia’s cashless turnover is improving fast among emerging markets, which means it is well on its way to a cashless economy. By partnering, we can advance that further.

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Yasemin Bedir, President, Turkey & CIS Division