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“The film industry is an industry where the best model of success is based on the public and private partnerships. I think that, on the one hand, the participation of the leading Georgian and American companies, and on the other hand, the Ministry of Economy, will give us a formula for success in this project. In this case, progress will be made if we have more Georgia in Hollywood and more Hollywood - in Georgia,” - the Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili said at the press conference held in Tsinandali, after the signing of the Memorandum of Cooperation.
With the support of the Government of Georgia, the Ministry of Economy and Sustainable Development, the Georgian Silk Road Group, the American film studio WonderHill Studios and the American investment and consulting company ESTech, signed a memorandum on the establishment of a joint venture in Georgia - WonderSilk Studios (WSS), which will work in the field of film production and film financing.
The Ministry of Economy and Sustainable Development has been actively involved in promoting the film industry for 6 years. We have created various types of programs on the basis of the Enterprise Georgia Agency - there are more than 40 films in this portfolio, tens of millions of dollars have been invested and hundreds of jobs have been created. We work very actively to give local production companies access to international markets. We are represented as a country at all international profile exhibitions, and Georgian producers have the opportunity to talk to international companies about why it can be interesting and profitable to shoot a film in Georgia," - Irakli Nadareishvili said.
The purpose of this partnership is to offer Hollywood studios and independent producers a clear and orderly scheme for the use of local spaces, tax incentives, personnel and other local resources. In 2023-2024, the joint venture WSS plans to bring film projects worth more than 200 million US dollars to Georgia and Kazakhstan.
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