Visa and the Ministry of Economy and Sustainable Development of Georgia have authorized a partnership for two years to support local tourism and small businesses, promote economic and Financial inclusion and boost Innovations in Georgia
Visa, the leader in digital payment, has signed a Memorandum of Understanding with the Ministry of Economy and Sustainable Development of Georgia for a period of two years to address the needs of the small and medium-sized businesses (SMEs) affected by COVID-19. The MoU also aims to support local tourism and contribute to the advancement of economic and financial integration, as well as drive innovation in Georgia.
The document on future collaboration was signed by Natia Kiguradze and Natia Turnava. Diana Kiguradze is the Country Manager of Visa for the Caucasus Region. The official signing ceremony of this Memorandum took place at the National Museum of Georgia – one of the most important cultural destinations in Georgia.
This memorandum aims to foster cooperation between Visa and Ministry of Economy and Sustainable Development by establishing a collaborative frame, which will include the following aspired goals:
* Support for small and medium enterprises (SMEs) affected by COVID-19 by offering joint educational programmes, such as the launch of Visa Business Skills Platform in cooperation with Enterprise Georgia, and accelerate digitization;
* Increase the number of local and foreign travelers by promoting local tourism through joint activities.
* Explore and accelerate innovation in Georgia within tailored projects that promote economic and financial inclusion.
“The signing of the memorandum by the Ministry of Economy and Sustainable Development of Georgia and Visa, will help to accelerate digital transformation for Georgian Small and Medium-sized Enterprises. Visa will be supporting both the Entrepreneurship Incentive Program “Enterprise Georgia”, and the National Tourism Administration in the coming years. This is important, given the international image that Visa has. In order to promote domestic and international tourism, Visa will use the data it has shared to plan joint marketing campaigns and implement educational programs to accelerate the digitalization of small and medium sized businesses. Visa’s support of small and mid-sized businesses is crucial, as is the development of tourism in Georgia.
“The signing of this memorandum marks the creation of an important platform for Visa and Georgia to further develop the national economy. Together with the Ministry of Economy and Sustainable Development and other parties, we aim to create a positive impact on society by focusing on three strategic pillars: SME support, local tourism, and innovation. Visa also believes in the innovative and technological future for Georgia, which preserves and endorses the national cultural heritage as well as promotes the country’s status as one of the best destinations in the world“. Diana Kiguradze is Visa’s Country Manager for the Caucasus Region.
Visa will share with the Ministry, in order to support local tourism development, specific data including deep analyses and insights into traveler’s patterns. The framework will help to identify weak spots and gaps, allowing for effective strategy planning. It will help to explore and promote the touristic potential of a country, by strengthening existing routes and opening up new ones.
Visa will introduce its global digital platform, Practical Business Skills (PBS), in Georgia. This initiative is a global financial literacy program with the ambitious goal of digitalizing 50 million small and mid-sized enterprises worldwide. This platform, which includes more than 50 modules online, will meet the needs of entrepreneurs at different stages of their business lifecycles.
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