Wonder Silk Studios (WSS) is a new company formed through collaboration between the Georgian Government, the Ministry of Economy and Sustainable Development, the Georgian Silk Road Group, Wonder Hill Studios (an American film studio), and ESTech (an American investment and consulting company).
The partnership aims to offer Hollywood studios and independent producers a clear and organized scheme to use local spaces, tax breaks, staffing and other local resources. Joint venture WSS plans to bring film projects worth more than 200 million US dollars to Georgia and Kazakhstan.
A press conference was held after signing the memorandum. At the meeting, the Deputy Minister of Economy and Sustainable Development, Irakli Nadareishvili, said, “Film industry is the field where the best model of success is based on public-private partnership.”
He also said, “I think that on the one hand, the participation of leading Georgian and American companies and, on the other hand, the Ministry of Economy in this project will give us the formula of success. “In this case, the success will be to have more Georgia in Hollywood and more Hollywood – in Georgia,”
According to him, the Ministry of Economy has been actively involved in promoting the film industry for six years.
The Minister also mentioned that they have developed different programs based on the agency “Produce in Georgia”.
Over 40 films are in this portfolio, with tens of millions of dollars invested and hundreds of jobs created. They are actively working to ensure local production companies can access international markets.
“We are represented at all international profile exhibitions as a country, and Georgian producers have the opportunity to talk to international companies about why making a movie in Georgia can be interesting and profitable,” said Irakli Nadareishvili.
Wonder Silk Studio (WSS):
Wonder Silk Studios (WSS) will work in the field of film production and cinema finance-
Film Production: WSS will be involved in making movies and other film-related content. Think of it as a place where creative ideas come to life on the big screen!
Cinema Finance: This part is all about money. WSS will handle financial matters related to the film industry. They’ll figure out how to fund movie projects, manage budgets, and make sure everything runs smoothly.
