Economy Minister Presents Georgia's Investment Potential in Dubai

The First Vice-Premier of Georgia and the Minister of Economy, Dimitry Kumsishvili, introduced Georgia’s investment potential to investors within the framework of the Annual Investment Meeting in Dubai, the United Arab Emirates (UAE).

Kumsishvili spoke about the dynamics of economic growth, macroeconomic trends, current and planned reforms, as well as investment projects in various sectors of the economy, including real estate and tourism. 

The Minister also introduced the Georgian government’s 4-point plan, aimed at improving the economic situation in the country.

The First Vice Prime Minister also spoke about a number of implemented reforms in the country, focusing on profit tax reform which enables businesses to reinvest and create new jobs.

Kumsishvili also spoke about Georgia’s investment potential and its leading position in Doing Business 2018 (9th place) and in Heritage Foundation’s Economic Freedom Index (16th place).

After the speech, several Georgian companies made presentations and introduced their production to foreign investors.

The Vice-Premier of Georgia is paying a working visit to the UAE, during which he has held meetings with local senior officials and heads of leading companies, including the UAE Minister of Culture, Youth and Social Development, Sheikh Nahyan bin Mubarak Al Nahyan. 

The Sheikh expressed interest in further investments in Georgia, namely in the hotel industry.

“Sheikh Nahyan bin Mubarak Al Nahyan announced the doubling of investments in Georgia last year at the One Belt, One Road Forum in Tbilisi. At this meeting, we discussed specific projects regarding the construction of new hotels in Georgia,” Kumsishvili said. 

Two days ago, Kumsishvili met the UAE Minister of Economy, Sultan Bin Saeed Al Mansoori.

Trade and economic relations between the two countries were the main topics of the conversation, and the progress in trade, economic, investment and tourism between Georgia and the United Arab Emirates was specially highlighted.

According to Georgia’s Ministry of Economy, the parties found it important to speed up the signing of an economic agreement between Georgia and the United Arab Emirates and the establishment of an inter-governmental commission.

Kumsishvili also participated in the final discussions of the Annual Investment Meeting and spoke about Georgia's reforms and economic tendencies.

Dimitry Kumsishvili participated in the panel of the Annual #Investment Meeting in #Dubai https://t.co/0DYJkWOE9W pic.twitter.com/ZwjSpeOy52

— Ministry of Economy (@Economygovge) April 10, 2018

By Thea Morrison