Georgian Delegation Discuss Investment Projects from UAE

Minister of Economy and Sustainable Development of Georgia, Dimitry Kumsishvili, and the United Arab Emirates Sheikh Nahyan bin Mubarak Al Nahyan discussed last week current and future investment projects. According to the Ministry’s data, the United Arab Emirates has already invested about USD 700 million (1638 million GEL) in Georgia.

The Sheikh has personally invested USD 250 million (585 million GEL) in Georgia's economy. He owns the largest Arab investment company, Dhabi Group, which supervises Terabank and the Millenium Hotel, which is set to open in the near future.

During the Ministry of Economy’s meeting in the UAE, special emphasis was placed on the real estate sector, logistics and tourism infrastructure of Georgia. Kumsishvili also noted that the country had created a favorable environment for business and investment.

The parties highlighted that the UAE is one of the largest investors in Georgia. The trade turnover between Georgia and the United Arab Emirates in 2015 exceeded USD 240 million (561 million GEL), which is 6 percent more than in 2014.

Eka Karsaulidze