Arkan Property participated in the Georgia-Saudi Arabia Business Forum held in Tbilisi, an event organized by the Georgian Chamber of Commerce. During the forum, representatives of Arkan Property engaged in B2B meetings with companies from Saudi Arabia, sharing their ideas, presenting company information, and discussing potential partnerships and future cooperation opportunities.
The forum gathered representatives from a diverse range of sectors, including trade, logistics, energy, real estate, tourism, transport, IT technologies, medicine, and construction. More than 60 major Saudi Arabian companies and their Georgian counterparts participated in the event.
The forum featured opening remarks by Giorgi Pertaia, President of the Georgian Chamber of Commerce, and Gennadi Arveladze, Deputy Minister of Economy and Sustainable Development of Georgia. They emphasized the importance of the event for strengthening business relations between Georgia and Saudi Arabia. Additionally, within the framework of the forum, the third working session of the Business Council of Saudi Arabia and Georgia was held, where the parties discussed strategies for enhancing trade and economic relations and encouraging mutual investments.
During the event, a memorandum of understanding was signed between three companies, outlining plans for an investment of up to 50 million dollars. This agreement is expected to foster further collaboration and development between the two countries.
Genadi Arveladze, the Deputy Minister of Economy and Sustainable Development of Georgia, highlighted Georgia’s achievements, stating that the country had become a “symbol of successful reforms and rapid development.” He noted that Georgia has gained international recognition for its economic freedom, market access, and business support systems. Over the past three years, Georgia has experienced an average economic growth rate of nearly 10 percent. In 2022 alone, the country recorded a historic $2.2 billion inflow of foreign direct investment.
Arveladze expressed his support for strengthening relations with Saudi Arabia and emphasized the positive trend in bilateral trade and investment. He predicted a 25 percent increase in trade turnover and a 13 percent rise in exports in 2023. To further facilitate investments, he highlighted ongoing negotiations for a bilateral investment protection and promotion agreement between the two nations.
The establishment of a Business Council by the chambers of commerce of both countries in 2023 was praised by Arveladze as a significant step in fostering closer economic ties. He underscored the Business Forum as an “exemplary platform” for deepening business relationships and exploring new avenues of cooperation between Georgia and Saudi Arabia.
Arkan Property’s participation in this forum demonstrates its commitment to exploring new opportunities for growth and fostering international partnerships, further cementing its presence as a key player in the real estate and investment landscape.
