Leading Chinese companies plan to invest in Georgia
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A leading Chinese company could implement a new $1 billion USD highway construction project in Georgia.
Georgia’s Prime Minister Irakli Garibashvili, who is in China for a working visit, met representatives of Zhuhai Da Heng Qin Company Limited, one of the world’s largest construction and engineering companies, and discussed the project details.
The sides noted the China Development Bank, the primary financial institution responsible for raising funding for large infrastructure projects in China, would also be involved in the project.
At the meeting the parties agreed a group of experts from the company would visit Tbilisi in two weeks to pursue the project and begin negotiations.
Zhuhai Da Heng Qin Company Limited is the same company that built the Birdsnest – Beijing’s national stadium for the 2008 Summer Olympics.
Several other leading companies will also be involved in the new highway project in Georgia, such as MCC International Incorporation Limited, China Development Bank Inner Mongolia Branch and China Export & Credit Insurance Corporation.
While in China, the Georgian PM also met with the president of Mitsubishi Corporation. At the meeting it was decided a working group from the vehicle manufacturing firm would come to Georgia to learn about the local investment environment.
Mitsubishi is the world’s one of the largest companies and operates in 90 countries. It employs about 68,000 people around the globe and its annual turnover amounted to $74 billion USD in 2014.
Before the PM’s working visit ends, the Georgian official is due to meet world leading business representatives at the World Economic Forum in China’s major port city Dalian.
The Prime Minister of Georgia and a delegation of Georgian officials are on their way to China for a five-day working visit.
"China is ready for a visa free travel regime with Georgia. We wish this and if Georgia is also interested in this issue we might start negotiations,” Chinese Ambassador to Georgia Yue Bin told local Rezonansi newspaper.
Garibashvili emphasised that American and Chinese companies were interested in constructing a deep-water port in Georgia that would meet 100 million ton trade turnover annually. The new port would help increase Georgia’s role as a transit nation.
State-owned enterprise Dongfang Electric has pledged to contribute about $180-$200 million for construction of a 150 megawatt Thermal Power Plant (TPP) in Georgia’s western Tkibuli region.
Georgia will soon begin exporting wine to one of China’s major port cities, Dalian. Georgian Wine Company (GWC) signed a Memorandum with Dalian Free Trade Zone today to solidify the deal.
Georgia will be the first country in the region to launch negotiations with China about free trade, said Georgia’s Prime Minister Irakli Garibashvili after meeting his Chinese counterpart Li Keqiang in China today.
Georgia will be one of the first countries in which the newly established Asian Infrastructure Investment Bank (AIIB) will invest.The Bank’s investment in Georgia will provide numerous benefits for the local economy, mainly in the fields of transport and energy.
Huawei, a leading Chinese multinational networking and telecommunications equipment and services company is interested in developing its business in Georgia.
Company plans to build gas storage and Thermal Power Plant
One of China’s leading engineering firms is expressing its interest to invest in Georgia’s gas and energy sectors.
A Georgian Culture House will open in the Chinese city of Yiwu in the near future as a symbol of the close cooperation between the two countries. It will be the first large-scaled Georgian-Chinese project.
Georgia and China are deepening cooperation in the fields of agriculture, tourism, science, modern technologies and construction.
Georgia and China are looking to deepen trade and economic cooperation at next week's Georgia-China free trade negotiations.
Georgia has begun free trade talks with China. The deal will be extremely beneficial for Georgia as it will facilitate increased business and trade turnover between both nations.