Giorgi Kvirikashvili to Participate in World Economic Forum in Davos
Georgian Prime Minister Giorgi Kvirikashvili will participate in the World Economic Forum in Davos. The Head of Government will visit the Swiss Confederation on January 22-24.
During the World Economic Forum, the Prime Minister of Georgia will deliver a speech at the Strategic Outlook—Eurasia discussion. Giorgi Kvirikashvili is scheduled to hold bilateral meetings with political leaders from different countries, European Commission leadership, and founders of large international companies.
The Georgian delegation under the leadership of the Prime Minister includes Vice Prime Minister and Foreign Minister Mikheil Janelidze, Finance Minister Mamuka Bakhtadze, and Co-Investment Fund CEO Giorgi Bachiashvili.
GLOBALink | World observers on positive global role of China's vision on community with shared future
A decade after the concept of a community with a shared future for mankind was proposed, the Chinese flagship vision is becoming a great banner for building a better, more prosperous world.
Observers around the world have seen clearly the positive role that China's vision has played in the world arena, believing it has met the global need for shared growth in times when economic globalization faces strong headwinds and the whole world is perplexed by the deficits in peace, development, security and governance.
Produced by Xinhua Global Service
Economic Council meeting led by Prime Minister Irakli Garibashvili
The Economic Council’s meeting, led by Georgian Prime Minister Irakli Garibashvili, was held today at the Government Administration.The members of the Economic Council discussed large ongoing and planned economic projects, also the infrastructural projects underway on the instructions of the Prime Minister.The 2023-2028 Urban and Resort Development Program was also discussed at the meeting, and Minister of Regional Development and Infrastructure Irakli Karseladze briefed in detail the Head of Government and the meeting’s participants on this program. It was noted that ten tourist destinations had been selected for rehabilitation at the initial stage. The special importance of developing destinations for the country’s economic progress and stimulation was underlined.The conversation touched on the high rates of economic growth. It was pointed out that, despite the situation in the region and global challenges, Georgia’s economy maintains sustainability, and a high growth of economic activity is in place.Notably, the trend of a high economic growth in 2022 continued in January 2023 as well, with the month’s growth rate reaching 8.4%. In parallel with high economic activity, a drop in inflation—which is a global post-pandemic challenge—is also evident.Attention was paid to FDIs. It was noted at the meeting that the volume of FDIs in 2022 grew by 61.1% to make up 2 billion USD, which is a historical maximum of FDIs made in the country so far.Press Service of the Government Administration
GLOBALink | China's modernization drive inspirational with opportunities for world
Experts have hailed China's modernization drive, saying the development course is inspirational and can provide experience for other developing countries.
As China is striving for high-quality development in its socialist modernization drive, the country has exerted great efforts in innovation, industrial upgrading and cutting-edge technologies.
Analysts say this will provide global investors with more opportunities.
Produced by Xinhua Global Service
GLOBALink | World hails good start of Chinese economy in 2023
In the first month of 2023 when China was celebrating the Chinese New Year, the country saw a rebound in both travel and consumption. Experts say it shows the resilience of the Chinese economy and supports forecasts of further recovery.
Produced by Xinhua Global Service
Prime Minister of Georgia: Together with Azerbaijan we are developing different initiatives. For example, I want to mention the Black Sea Submarine Electric Cable
Irakli Garibashvili, Prime Minister of Georgia participated in a Panel Discussion on Eurasia Middle Corridor: From Pathway to Highway, held within the scope of 2023 World Economic Forum in Davos today.“First of all, thank you very much for organizing this panel. This is very important. You mentioned the war in Ukraine. It is catastrophic for the entire region. Of course, it affects us as well. I think this war has shown us that countries and nations need to diversify their economies. I think before the war less countries paid less attention to the Middle Corridor, but after the war the attention is growing. It is increasing. So, therefore, as President Aliyev has mentioned, I also want to repeat that we have an excellent relationship with Azerbaijan, with Kazakhstan; with Turkey we have a strategic partnership. And, I think, the chemistry is here and we have a strong foundation to work together” it was stated by Irakli Garibashvili, Prime Minister of Georgia at a Panel Discussion on Eurasia Middle Corridor: From Pathway to Highway, held within the scope of 2023 World Economic Forum in Davos today.As the Head of Government of Georgia noted, the country is investing heavily in its infrastructure.“We in Georgia are investing heavily in infrastructure right now. First of all, I want to mention that we are building highways, which will be completed by the end of 2024. We are spending 2 or 3 BLN USD to complete this highway. Of course, this will facilitate transportation. Secondly, I want to mention the ports.Port capacity of the Black Sea of Georgia is quite big, but we need to increase it. Therefore, I want to mention one particular project, which is Anaklia Deep Sea Port. We have decided that the Government of Georgia will start the construction of this port. 51% of this port or consortium we want to build will be owned by Georgia – by the Government of Georgia. The rest – 49% – will be put on an international tender. We are talking with many potential investors about this. Now, why are we doing this? Why do we want to build this port? President Aliyev mentioned about the increase of capacity of Azerbaijani ports. I think Kazakhstan has the same intention. So, Georgia now has a capacity of about 550 000 TU in Poti Port, around 200 000 in Batumi Port. This is not enough. So, that is why we want to implement this project” added the Prime Minister of Georgia.The Head of Government of Georgia focused on the Black Sea Submarine Electricity Cable, as an ambitious project, thereby referring to it as a very interesting initiative.“Thirdly, I want to mention that we are together with Azerbaijan in developing different initiatives. For example, I want to mention the Black Sea Submarine Electric Cable, which is also very interesting. We are doing this together with Azerbaijan, Romania and Hungary. This initiative is backed by the European Union. In fact, we were in Bucharest in September, where we signed a Memorandum. All 4 countries will implement and invest in this – I would say – ambitious project. But this is very interesting. And, therefore, we must be ready for the increased flow of goods. I also want to mention that this corridor and this route is the shortest to connect Asia with Europe. For example, trains from China can come to Georgia within 15 days, maximum 20 days. Compared to transportation by sea, it takes 45 days, right? So, therefore, this is a very interesting, very important corridor. Of course, all these countries are definitely motivated and determined to develop this corridor” noted Irakli Garibashvili.The Head of Government of Georgia, similar to other panel participants, responded to the questions posed by Mirek Dušek, Managing Director of the World Economic Forum (WEF).According to the Prime Minister of Georgia, the country is modernizing its railway. Besides, the Baku-Tbilisi-Kars (BTK) Project is underway.“We are talking about the highways and railways. Right now our railway capacity in Georgia is 25 million tons. We are now implementing the modernization of our railway. It will be completed by the end of 2024. Capacity will be about 48 million tons. Besides that, together with Azerbaijan, we are now building a Baku-Tbilisi-Kars railway. In fact, several months ago, Azerbaijan provided additional funds to complete this project. So it will also be ready by 2024. This is another 5 million tons of cargo. So, these are strategically very important projects.I also want to mention the relationship between Azerbaijan and Georgia. This relationship is tested and reliable. We have implemented very important, historic projects together, such as the oil and gas pipelines. Now comes this railway project and many others which will come in the future” noted the Prime Minister of Georgia.Press Service of the Government Administration