“Investment in the volume of USD 180 million will significantly facilitate the development of the water supply system and qualitative improvement of its management,” said Prime Minister Irakli Garibashvili during an online meeting with Felix Parra Mediavilla, Executive Director of Aqualia Spanish Company and Irakli Gilauri, Chairman and Chief Executive of Georgia Capital.

The Head of the Georgian Government expressed his gratitude to investors for their demonstrated trust.

Aqualia, being a world leader with an HQ in Spain, has thus become an official strategic investor and partner of Georgia Global Utilities (GGU) – a daughter company of Georgia Capital. Aqualia invested 180 MLN USD by acquiring 80% of Georgian Water and Power. Georgia Capital continues to own 20% of the utility company.

The online meeting focused on close relations between Spain and Georgia. According to Irakli Garibashvili, Georgia is a reliable and stable business partner.

PM noted that the economy of the country grew by 10.6% in 2021. According to him, Georgia has undergone a significant transformation in the last decade and has been advancing fast to a more liberal and free-market economy with one of the lowest tax rates in the world and readily-available access to public services.

Advancing positions of Georgia in leading global ratings, due to ease of doing business and economic freedom, were highlighted at the meeting.

Special focus was made on the EU-Georgia Association Agreement (AA), along with a Deep and Comprehensive Free Trade Area (DCFTA) and Free Trade Agreements (FTA) with China, EFTA nations, Ukraine, Turkey and CIS countries, which let the investors gain exposure to multi-million consumer markets through Georgia.

In addition, Irakli Garibashvili noted that the Government of Georgia makes huge investments in land, marine and railroad infrastructure to position the country as a regional hub of trade and logistics.