Chinese, Israeli businessmen to invest 1 billion USD in Georgia
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China and Israel’s largest companies are planning to invest more than a billion USD in Georgia, said Prime Minister Irakli Garibashvili after meeting with the foreign investors today.
The Georgian PM said Israeli and Chinese companies were interested in the fields of energy, agriculture and information technologies (IT).
"A 1 billion USD project is planned to be implemented in Georgia’s Agriculture,” stated the PM on his official Facebook page.
"The investors are also actively investing with the Economy Ministry’s Innovation and Technology Agency with the purpose of investing in the IT sphere.”
At today’s meeting the Georgian Prime Minister and the foreign investors talked about the privatisation process of a Thermal Power Plant in Gardabani, Georgia. Garibashvili said negotiations with PEGASUS EastWest was currently in its final phase regarding this issue.
PEGASUS EastWest is Hong Kong-based international, privately-held entity that focuses on developing businesses in the world's fastest growing emerging markets.
Today’s meeting was attended by Israel-based businessman Mikheil Mirilashvili, head of PEGASUS EastWest Rafi Kaminer, CEFC International Ltd executive chairman Ye Jianming, CEFC China president Chan Chauto, as well as high-ranking representatives from China’s state-owned hydropower engineering and construction company Sinohydro. Other guests included representatives from Israel’s multi-profile LR Group and other large Chinese and Israeli companies.
Georgia’s Vice Prime Minister Ministry of Economy Giorgi Kvirikashvili has completed his official visit to China where he held several meetings with top officials.
The number of Foreign Direct Investments (FDI) in Georgia has reached a five-year high.
A Japanese government agency who assists economic and social growth in developing countries is interested in helping Georgia develop its agricultural, tourism and eco-tourism sectors.
The country’s Minister of Agriculture, Otar Danelia, and his colleagues from Eastern Partnership (EaP) countries have signed a joint declaration in support of agriculture and rural development advisory systems.
A group of British officials are visiting Georgia to learn about the country’s investment potential in the agriculture sector, and will later share this knowledge with British investors once they return to the United Kingdom (UK).
Georgia and China stand at the beginning of a new stage of relations where agriculture is the focus.
Chinese company Pegasus EastWest has purchased a 230 MW Combined Cycle Thermal Power Plant (TPP) in Gardabani, Georgia’s Kvemo Kartli region for $290 million USD.
American private investment firm Schulze Global Investments is offering a $100 million USD to develop and support Georgia’s energy sector.
Georgia and China are deepening trade and economic ties. Georgia's Finance Minister Nodar Khaduri is on an official visit to China to showcase Georgia's investment potential in a bid to attract more Chinese investments.