Chinese corporation to purchase 75% of Poti Free Industrial Zone shares

Georgia's PM Giorgi Kvirikashvili (C) attended the MoU signing ceremony. Photo by the PM's press office., 16 Jan 2017 - 15:44, Tbilisi,Georgia

Georgia and China are strengthening cooperation within the ‘One Belt, One Road’ initiative – a vast development strategy starting in China and spanning across Eurasia.

The Government of Georgia and Chinese corporation CEFC China Energy Company Limited signed a Memorandum of Understanding (MoU) in Georgia’s capital Tbilisi today.

CEFC China Energy Company Limited is a private collective enterprise offering energy and financial services.

Within the framework of the MoU the Government of Georgia and the Chinese corporation discussed the possibility of the corporation’s purchase of 75 percent of Poti Free Industrial Zone shares.

Poti Free Industrial Zone is strategically located adjacent to the Black Sea port city of Poti – the largest sea port in Georgia. This brings significant logistics and supply chain advantages to companies looking for a straightforward and tax-friendly business environment.

The Chinese corporation plans to further develop the Poti Free Industrial Zone by sharing its standard practices and latest technologies.