PM hails $6.5 bln Eagle Hills deal as ‘unprecedented investment’ in Georgia’s economy

Prime Minister Irakli Kobakhidze has described the recently signed agreement with Eagle Hills, a major UAE-based development company, as an “unprecedented investment that will significantly boost Georgia’s economy.”

Speaking to reporters, Kobakhidze said the $6.5 billion deal represented one of the largest foreign direct investments (FDI) in Georgia’s history - nearly matching the cumulative FDI total under the previous government.

“During the previous administration, the total amount of foreign direct investment was $9 billion. Now, a single company is bringing $6.5 billion to Georgia. You can imagine the scale of this investment and its contribution to the growth of our economy and GDP,” the prime minister said.

Kobakhidze also praised Minister of Economy Mariam Kvrivishvili for leading the negotiations and securing favorable terms for the Georgian side.

“I want to express my sincere gratitude to Mariam Kvrivishvili, who has been involved in negotiations with Eagle Hills from her very first day as minister and achieved the maximum possible result in the signed agreement,” he said.

The prime minister noted that the contract included a key provision requiring 33% of the project’s profits to go directly into the state budget, which he called “a major achievement.”

“This is a record-breaking direct investment. Beyond that, the agreement includes a clause ensuring that 33% of the profits go directly to the state budget. That is a very important achievement,” Kobakhidze said.