Georgia Opening its Doors to Saudi Investors

Georgian Embassy in Saudi Arabia has started fully functioning from January 2015. The opening of Georgian Embassy was an important step towards the development of bilateral relations and economic cooperation with the countries of Arabian Peninsula. Since the opening, the Embassy, has been working on the strengthening of relations and deepening the cooperation with the representatives of Gulf Cooperation Council (GCC) and Organization of Islamic Cooperation (OIC). Georgian Embassy is also accredited to Kingdom of Bahrain, Sultanate of Oman, and Republic of Yemen from Riyadh.

In recent years, there has been an increased interest towards Georgia from GGC countries and especially from Saudi Arabia. Saudis are generally interested in: Agriculture, Construction, Transport and Tourism (especially spa tourism). According to National Statistics Office of Georgia in the last 3 years direct investment from Saudi Arabia equals 70 million US dollars. As for tourism, only last year, about 6000 Saudis visited Georgia and in the first half of this year more than 10,000 tourists visited Georgia from GCC countries; we are hoping that this number will double by the end of the year. Georgia is becoming a new and attractive tourist destination for them.

Since its opening, the Embassy of Georgia has been actively working on the promotion and tightening of  business ties with Saudi business communities: The Embassy has been regularly holding meetings with businessmen and performing presentations in this field for the attraction of investments to Georgia.The result of the hard work of the embassy for the promotion of bilateral ties with the Kingdom is that more and more Saudi businessmen are becoming interested in the investment opportunities offered by Georgia.

In the middle of June of 2015 , H.R.H. Prince Al-Waleed bin Talal bin Abdulaziz Al Saud, a billionaire, investor, philanthropist and one of the most influential figures in the Kingdom and the entire Arab world, visited Georgia. This visit, which was prepared by the Georgian Embassy, was successful. After the meetings with the President of Georgia, the Prime Minister and other official figures he underlined that he was highly attracted by the business opportunities in Georgia. By the end of the visit he confirmed his intention to invest. We are hoping that Prince’s visit to Georgia will motivate other investors and encourage them to invest in the country. It is also known, that with our active assistance some of the largest investment groups in the Kingdom of Saudi Arabia are planning to visit Georgia by the end of this year.

Giorgi Janjgava
Ambassador of Georgia to The Kingdom of  Saudi Arabia