Azernews.Az

By Mushvig Mehdiyev

According to reports, Chinese and Israeli companies plan to invest over a billion dollars in Georgia.

Following a meeting with foreign investors in Tbilisi, Prime Minister, Irakli Garibashvili confirmed that Israeli and Chinese companies were interested in the fields of energy, agriculture and information technologies.

"Georgia’s agriculture will enjoy a billion dollar investment,” he noted.

Investors are also actively negotiating with the Economy Ministry’s Innovation and Technology Agency in view of investing in the IT sphere.

The privatization process of a thermal power plant in Georgia's Gardabani region was also at the forefront of talks between Garibashvili and Chinese, Israeli investors.

Garibashvili announced that negotiations with PEGASUS EastWest, an international, privately-held entity, is currently in its final phase in view of privatizing the power plant.

Hong Kong-based PEGASUS EastWest focuses on developing businesses in the world's fastest growing emerging markets.

Georgia has earlier agreed with China on a free trade agreement to explore the possible benefits of such cooperation in this field.

The two countries have also inked a cooperation agreement within the framework of the New Silk Road – Economic Belt project that seeks to develop Central Asia's transport infrastructure and to revive the old Silk Road trading route.

Earlier last year, Garibashvili visited Israel in view of expanding mutual ties in between Georgia and Israel. His visit led to the signature of a free trade deal with Israel, as well as fruitful discussions on establishing a visa-free regime between the two countries.

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