Georgia had become a symbol of successful reforms and rapid development. Such a statement made today Genadi Arveladze, the Deputy Economy Minister of Georgia, in his address at the Georgia-Saudi Arabia Business Forum in Tbilisi.

“The country has gained international recognition for economic freedom, market access, and business support. Over the past three years, Georgia recorded an average economic growth rate of almost 10 percent. In 2022, a record $2.2 billion inflow of foreign direct investments took place.

Our priority is strengthening relations with Saudi Arabia, we see the increasing trend in bilateral trade and investments between the two countries.

We have 25% increase in trade turnover and a 13% rise in exports in 2023…

I am sure B2B meetings scheduled for today’s event, involving representatives from Georgian and Saudi Arabian companies, will provide an excellent opportunity to gain in-depth information about Georgia"s investment potential”, - said Genadi Arveladze.

He praised the signing of a memorandum of understanding between Medical Bridge, Polymer Solution, and Gulf Pharma within the Forum, which he said was expected to result in investment of over EUR 50 million in Georgia.