Tbilisi: The Vice Prime Minister andd the Minister of Economy and Sustainable Development of Georgia, Levan Davitashvili, along with a delegation, took part in the opening ceremony of the Georgia-Egypt Business Forum in Cairo, Egypt.
In a welcoming speech, the Vice Prime Minister focused on economic trends of Georgia and said that in 2021-22 the country showed double-digit economic growth, and according to the IMF forecast, in 2023-2027 Georgia will have even higher economic growth in the region.
Levan Davitashvili also spoke about successes in various sectors of the economy, as well as regional infrastructure projects, including emphasis on the strategic significance of the Anaklia underwater port and the Black Sea power cable projects.
Vice Prime Minister expressed hope that the Georgia-Egypt Business Forum will become an example of successful cooperation between the two countries and an additional platform for further deepening economic and business ties.
Levan Davitashvili said capital inflow from Egypt exceeded $96 million, implemented in sectors such as construction, transport, real estate and others.
During the business forum, a memorandum of understanding was signed between the General Agency for Investment (GAFI) and Free Zones of the Arab Republic of Egypt and the Agency of the Ministry of Economy and Sustainable Development of Georgia. The Memorandum aims to encourage cooperation between the parties in terms of investment and development of bilateral economic relations.
The Georgian delegation also participated in the Cairo Business Forum were also attended by the Deputy Minister of Economy and Sustainable Development Genadi Arveladze, Deputy Minister of Foreign Affairs Alexander Khvtisiashvili, Director of the Agency “Manufacture Georgia” Mikheil Khidureli, Emergency and Plenipotentiary Ambassador of Georgia to the Arab Republic of Egypt Mikheil Tigishvili and Y. I.