MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

"There is a great interest from Saudi Arabia in investing in various sectors in Georgia, they are very impressed by the economic progress, stable situation and predictability that our country has had during the recent years, therefore, we talked about specific projects related to investing in the transport and logistics sector, as well as real estate, hospitality, oil and gas discoveries, energy," – the First Vice Prime Minister, Minister of Economy and Sustainable Development, Levan Davitashvili said following the meeting with the representatives of the Saudi Arabian business delegation. The delegation visited Tbilisi headed by the Chairperson of Council of the Federation for Saudi Chambers of Commerce and Industry, Hassan Moejeb Alhwaizy. The Chairman of the Chamber of Commerce and Industry of Georgia, Giorgi Pertaia, the Deputy Minister of Economy and Sustainable Development, Genadi Arveladze, and the Head of the Trade Development and International Economic Relations Department of the Ministry, Givi Zedelashvili, also attended the meeting.

The First Vice Prime Minister highly evaluated the business council, which was established between the two countries by the decision of the governments of Georgia and Saudi Arabia, since it is a very important platform for promoting economic relations between the countries.

"Cooperation between the two countries in trade and investments is particularly important. We talked with the representatives of certain businesses about investment opportunities in Georgia, and I think that these investments will be followed by additional foreign investments inflows and create additional business opportunities," – the Minister of Economy noted.

The meeting was preceded by the session of the Georgia-Saudi Arabia Business Council and the Business Forum. Representatives of the business circles of the two countries representing such important sectors as trade, logistics, energy, real estate, tourism, transport, IT technologies, medicine, construction and other sectors participated in the events.

Within the framework of the Business Forum, a Memorandum of Understanding was signed between Medical Bridge, Polymer Solution and Gulf Pharma. The Memorandum envisages investments of over fifty million euros in Georgia. About 70 Saudi Arabian businesspersons participated in the bilateral Business Forum.