“The Eagle Hills project will have a tremendously significant impact on Georgia’s annual economic growth. I am confident that every citizen of our country will take pride in this project,” declared Economy and Sustainable Development Minister Mariam Kvrivivshvili in her assessment of Eagle Hills’ large-scale initiative.

According to Kvrivivshvili, Georgia’s opposition spectrum was negatively disposed towards Eagle Hills’ investment project from the very beginning.

“Initially, they considered the successful conclusion of negotiations and the entry of such a major corporation as Eagle Hills into the Georgian market to be an illusion. Now, when the joint venture with the investor has been established, they find the project entirely unacceptable. In reality, however, every Georgian should be proud that our government and our country as a whole have managed to attract a historic maximum investment of USD 6.5 billion. Through joint efforts, thousands of new jobs will be created in Gonio and the capital. This will provide renewed impetus for the development and tourism sectors. The business sector itself views this investment very positively,” stated Mariam Kvrivivshvili.

The minister drew particular attention to the matter of the 33% stake stipulated in the contract concluded between Georgia and Eagle Hills.

“This is genuinely a Georgian project, because we have become co-owners and co-founders of the project. The project will be fully coordinated with the state, and at every stage of the project’s development, our state’s interests will be taken into account. The state holds 33% in this joint venture, which means that the state is the owner of both the Georgian lands and will be co-owner of that significant development project, which, over the years, will generate hundreds of millions of dollars in profit for our country’s budget,” noted Mariam Kvrivivshvili.

The minister also emphasised the project’s international significance and explained that many countries around the world, including European states, have tried and continue to work actively to attract Eagle Hills’ interest and secure their entry into their markets.

“Such major corporations and investors bring enormous value to each country. This investment has greatly increased interest in our country, including from international investors. This also serves as a message to international investors, because it means a great deal when such a large and reputable investor selects Georgia over all other countries. Among other things, it demonstrates that Georgia’s economy is developing sustainably, that there is a predictable environment in the country, and that Georgia continues to maintain peace, stability, and a favourable environment for business,” noted Mariam Kvrivivshvili.