Economy Minister: Georgian Gov't to secure “multi-billion-dollar” investment agreement during PM’s visit to Abu Dhabi

Georgian Economy Minister Levan Davitashvili on Sunday said an “important agreement” with a “leading global development group” was planned to be signed during the ongoing visit of the country’s Prime Minister Irakli Kobakhidze to Abu Dhabi, earmarking “several billion dollars” in investments for Georgia.

I believe this will entirely transform the landscape of the Georgian development market. It will show that Georgia is a reliable and trustworthy investment partner, and I think it will also qualitatively enhance the very dynamic direction of the economy”, Davitashvili told the media in the United Arab Emirates capital Abu Dhabi.

The Minister highlighted the “traditionally tight, friendly” relationship between the two countries, noting “robust ties” in both political and economic areas. He said Georgia was one of the first countries in the wider region to forge a comprehensive economic cooperation agreement with the UAE.

We have relations with this country under a free trade regime. This serves as an important legal foundation for enhancing our trade and economic ties, as well as for closer cooperation in investment”, he said.

Davitashvili also mentioned the ongoing involvement of Abu Dhabi Ports Group, a global trade, logistics and transport enabler and operator of 10 ports and terminals in UAE, in “significant projects” within Georgia, including  a dry port in the capital city of Tbilisi as a multimodal inland terminal to serve rail and road container shipments.

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One of the largest companies in Abu Dhabi is closing in on the completion of a dry port in Tbilisi. This year, we will celebrate this important project's opening, as construction work is almost finished [...] Additionally, we will hold meetings with company representatives to discuss expanding their presence in Georgia and explore further investments from Abu Dhabi in key logistics and transportation sectors”, he said.

The Minister also noted collaboration in the energy sector, particularly in renewable energy projects, where Masdar, another UAE renewable energy company, is involved.

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Davitashvili said the ongoing efforts aimed to finalise an agreement with Masdar, noting preliminary studies were completed. The Minister added the cooperation would enable the country to “further enhance” its trade and economic relations with the UAE.

The Georgian PM started his official visit to the UAE on Sunday.