American-Georgian Joint Venture To Promote Cinema Production Scheme, Infrastructure In Georgia

(MENAFN- AzerNews) A new joint venture involving Georgia's Silk Road Group and United States-based companies will look to promote facilitation of a range of film production phases in Georgia, creation of related infrastructure and human resources, and use of domestic professionals and tax rebates by hollywood studios and independent producers, Azernews reports, citing Agenda.

Forming as a result of an agreement between the Group, US-based industry studio WonderHill Studios and the investment and consulting company ESTech, WonderSilk Studios will work on providing production and financing services and opportunities, the Georgian Economy Ministry said on Thursday.

The Ministry added organisers of the joint venture aimed to ensure over $200 million in film projects being facilitated in Georgia and Kazakhstan between 2023-2024.

Deputy Economy Minister Irakli Nadareishvili said the joint efforts would look to ensure“we have more Georgia in Hollywood and more Hollywood in Georgia”.

He also highlighted the role of the Enterprise Georgia - the state agency promoting entrepreneurship, investment and exports - in creating programmes involving tens of millions of dollars in investment and creation of new jobs in the industry.

“We are represented as a country at all international exhibitions”, the Deputy Minister added, noting producers from Georgia had the opportunity to promote the country as an interesting and profitable location for filming.

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