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Chinese Company Buys 75% Stake in Poti Industrial Zone

Members of a Georgian delegation have talked about Georgia’s investment climate as part of Georgia-China business forum in Siemen, China. Georgian delegation was led by Minister of Economy Giorgi Gakharia.

Deputy Economy Ministers Nino Javakhadze and Giorgi Cherkezishvili delivered a speech at the business forum. Similar forums foster enhancement of trade cooperation between the countries, the business forum participants noted.

As part of the business forum, Government of Georgia and major Chinese company CEFC signed a memorandum on understanding. Minister of Economy Giorgi Gakharia signed an agreement on on transmission of a 75% stake in Poti Industrial Zone to CEFC Chinese company.

“Under the agreement, CEFC company will manage Poti Industrial zone, which is the very important asset for Georgian economy and its revival and its active operation is of crucial importance for Georgia. We believe an appearance of such major Chinese company in our free industrial zone will bring success to the country. We believe this company is capable, potent and skillful to manage similar major and sophisticated projects. We will ensure tight cooperation for implementing this project”, Giorgi Gakharia said.

“We welcome this fact, because it will foster to attract additional cargo to Georgia”, Georgian Railway director Mamuka Bakhtadze said.

About 200 Georgian and Chinese companies took part in the business forum.