Tbilisi hosting Georgian-Saudi Investment Forum

Levan Davitashvili, the Economy Minister of Georgia and Khalid A. Al-Falih, the Minister of Investment of Saudi Arabia, on Thursday opened the Georgian-Saudi Investment Forum in Tbilisi. 

The Forum will discuss investment opportunities in tourism and real estate in Georgia, as well as the country’s potential as a transport, logistics and energy hub. 

It will also see Mikheil Khidureli, the CEO of Enterprise Georgia, the state agency promoting entrepreneurship, investment and exports, make a presentation about the country’s investment climate and opportunities. 

The schedule also includes signing of memorandums in agriculture, energy and culture between the countries. 

About 300 visitors are attending the Forum, including officials from governmental delegations of both countries as well as business representatives.  

Davitashvili said one of the topics to be discussed within the event was the launch of free trade between the countries. He noted negotiations on the subject had begun in 2019 but were interrupted by the Covid-19 pandemic, while now the issue had become “relevant again”. 

The Minister said he hoped the Forum would result in new investment agreements. 

Our goal is to attract quality direct investments from different countries in order to maintain economic growth on the one hand, and to qualitatively improve the structure of our economy on the other hand”, he said.

Darchiashvili noted his visit last year to the Persian Gulf region for establishing formal frameworks of ties, and added Saudi Arabia was an “important potential partner” for Georgia, representing the “largest” economy in the Gulf.

Last year, a common platform was formed between the chambers of commerce, [...] [and] a business council was created [...] in order to further encourage investments and trade relations. Today’s Forum is a logical continuation of the work”, he said.

He noted business-to-business meetings were also planned within the Forum, and expressed hope for achieving “specific results”.