Silk Road Group, WonderHill Studios, and Eternal Sources Tech (an investment and advisory firm based in the US) have signed a MOU in collaboration with the Georgian Government for the establishment of a film production joint venture WonderSilk Studios.
The partnership will offer Hollywood studios and independent film producers a clear path to utilize local sites and tax credits, as well as studios, local talent, and local personnel. The WSS JV will bring a number film projects worth over $200M to Georgia and Kazakhstan by the end of 2023.
WSS is a pioneering vision for film and TV series production, local content, and an innovative entertainment funding scheme. It will accelerate the film-production process and create opportunities for Georgia and other countries in the region to benefit from the economic development of the country through a rapid rise in tourism, the creation of significant jobs, new tax revenue, and unprecedented global visibility.
The signing ceremony of the MoU and the press conference were held at Tsinandali Estate.
“I am glad that this historic event took place in Tsinandali. This is a place with strong cultural, educational, and progressive messages,” said George Ramishvili. He is the founder and Chairman at Silk Road Group. “We’re partnering with one of Hollywood’s biggest studios. It’s like a Hollywood film, a Hollywood tale.
“This will mean that Georgian actors and other professionals in the film industry will be employed. Tourism will also benefit from the project. This venture has a huge economic impact, but also carries a cultural and political significance. The entry of Hollywood in Georgia brings us closer to the USA.”
“In the film business. Irakli Nadareishvili, Deputy Minister of Economy said that the best model for success is based upon a public-private partnerships. “I believe that the participation of the leading Georgian and American businesses, on one hand, and of the Ministry of Economy on the other, will be the success formula for this project. In this case, the success would be more Georgia in Hollywood and Hollywood in Georgia.
Marvin Peart, Co-Founder and CEO of WonderHill Studios said, “As a filmmaker and lover of cinema, it’s always been my dream, to bridge the cinematic universe.” “The more stories that we tell about diverse people using diverse landscapes will bring us together as a community.” The closer we are to each other as a community, the closer we will be to peace.
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