Boost Economic, Innovative and Cultural Development in Georgia

Visa and the Ministry of Economy and Sustainable Development of Georgia authorized a two-year partnership to support local tourism and SMEs, promote economic and financial inclusion and boost Innovations in Georgia.

Boost Economic, Innovative and Cultural Development in Georgia

Visa, the world’s leader in digital payments, has signed a two-year Memorandum of Understanding (MoU) with the Ministry of Economy and Sustainable Development of Georgia to address the needs of small and medium-sized enterprises (SMEs) impacted by COVID-19, support local tourism, contribute to the progress of economic and financial inclusion, and drive innovations in Georgia.

This memorandum is aimed to foster cooperation between Visa and Ministry of Economy and Sustainable Development establishing a collaborative framework, which will entail the following aspired objectives:

• Support of small and medium-sized enterprises (SMEs) impacted by COVID-19, by offering joint educational programs, such as launching Visa Business Skills platform in cooperation with Enterprise Georgia and accelerate digitization process;
• Promote local tourism and increase number of local and international travelers through joint activities;
• Explore and accelerate innovations in Georgia, within tailored projects to promote economic and financial inclusion.

By supporting local tourism development, Visa will be sharing with the Ministry specific data, including deep analysis and insights of travelers’ patterns. Designed framework will enable effective tourist traffic stimulation strategy planning, helping to identify soft spots and gap analysis. It will help to promote and effectively explore touristic potential of the country, strengthening existing routes and opening new ones.

With a global financial literacy initiative and ambitious goal to digitalize 50 million small and medium enterprises worldwide, Visa will present in Georgia its global digital platform – Practical Business Skills (PBS). This education platform featuring more than 50 online modules will address needs of entrepreneurs at various stages of the business lifecycles.

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