Georgia, Chinese Shenzhen Dabaihui Industrial Group sign cooperation memorandum

Georgia’s Ministry of Economy and Sustainable Development and major Chinese holding company Shenzhen Dabaihui Industrial Group have signed a memorandum of understanding on cooperation.

According to the Ministry of Economy, the document was signed by Georgian Economy and Sustainable Development Minister Mariam Kvrivishvili and the company’s President Wen Yuxuan.

“The memorandum provides for deepening bilateral cooperation and promoting investment in the energy sector, particularly in the development of renewable energy resources.

Under the memorandum, a joint working group will be established to review investment projects presented by Dabaihui Group. The Chinese side, in turn, will prepare and present specific initiatives and investment proposals for the construction of renewable energy power plants,” the ministry said.

Shenzhen Dabaihui Industrial Group (DBH) is one of the major business groups operating in China’s Guangdong Province and the city of Shenzhen. Established in 1994, the company currently comprises 26 subsidiaries operating in sectors including energy, real estate, mining, biotechnology and hospitality, according to the Ministry of Economy.