The Georgian Economy Minister Levan Davitashvili said economic progress, stability and predictability of the country had caught the attention of Saudi Arabia, leading to discussions about potential investments in various sectors of the domestic economy.

Davitashvili said projects related to investing in the transport and logistics sector, real estate, hospitality, oil and gas discoveries, and energy had been discussed during a meeting with representatives of a Saudi business delegation visiting the country as part of the Georgia-Saudi Arabia Business Forum.

The Forum saw participation of about 70 Saudi businesspeople representing trade, logistics, energy, real estate, tourism, transport, IT technologies, medicine and construction sectors.

A memorandum of understanding was also signed between Medical Bridge, Polymer Solution, and Gulf Pharma within the Forum, which the Ministry of Economy said was expected to result in investment of over €50 million in Georgia.