Eagle Hills project will have major impact on Georgia’s annual economic growth, says Economy Minister
The large-scale investment project by Eagle Hills will have a significant impact on Georgia’s annual economic growth, said on Tuesday Mariam Kvrivishvili, the Minister of Economy and Sustainable Development of Georgia, emphasising that “every citizen of our country will take pride in this project”.
In her remarks, Kvrivishvili noted that the domestic opposition was negative toward the Eagle Hills investment project from the very beginning.
“Initially, they believed that successfully completing negotiations and bringing such a major global corporation like Eagle Hills into the Georgian market was merely an illusion. Now that a joint venture has been established with the investor, the entire project has suddenly become unacceptable to them. In reality, every Georgian should be proud that our Government - and our country as a whole - managed to attract an investment of a historic record value of $6.5 billion. Through joint efforts, thousands of new jobs will be created both in Gonio and in the capital city. It will also serve as a renewed stimulus for the development and tourism sectors. The business community has assessed this investment very positively”, the Minister said.
She further highlighted the importance of the 33% ownership stake granted to the Georgian state under the agreement with Eagle Hills.
“This is, in fact, a Georgian project because we have become co-owners and co-founders. The project will be fully coordinated with the state, and at every stage of its development, Georgia’s interests will be taken into account. The state holds a 33 percent share in the joint venture, meaning that it owns not only the land but will also be a co-owner of a major development project that will generate hundreds of millions of dollars in profit for Georgia’s budget over the years”, Kvrivishvili noted.
She further highlighted the project’s international significance, explaining that many countries, including several European states, have been trying - and continue to work actively - to attract the Eagle Hills to their markets.
“Such large corporations and investors bring enormous value to any country. This investment has greatly increased global interest in Georgia, including from international investors. It serves as a message to the global investment community: when such a major and reputable investor chooses Georgia over other countries, it means a great deal. It shows that Georgia’s economy is developing sustainably, that the environment is predictable, and that we continue to maintain peace, stability, and a business-friendly climate”, Kvrivishvili concluded.
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NBG Vice-President takes part in Central Banking's international conference in Kuala Lumpur
02.04.2026.16:50
Ekaterine Galdava, Vice President of the National Bank of Georgia, attended an event held in Malaysia as part of the international outlet Central Banking Meetings. The two-day conference centred on the theme: “Collective Strength: Resilience and Growth in a Changing World.”
The Central Banking Meetings forum in Kuala Lumpur brought together central bankers and senior representatives from Japan, Malaysia, India, Turkey, Romania, Azerbaijan, New Zealand, Switzerland, South Korea, Singapore, Saudi Arabia, China, and other countries.
According to the National Bank of Georgia, the event was designed to facilitate the sharing of practical experience amongst central bank leaders and to deepen cooperation, with a view to developing joint strategies, strengthening regional integration, and introducing innovative solutions.
Speaking during the panel discussions, Ekaterine Galdava drew attention to the reforms undertaken by the National Bank of Georgia and to the importance of regional payment integration.
She noted that the foundation of a successful, interoperable payments ecosystem rests upon modern domestic payments infrastructure, shared technical standards, and effective regional coordination.
“The National Bank of Georgia is actively working on upgrading its Real-Time Gross Settlement (RTGS) system. The upgraded system will have the technical capacity to operate on a 24/7 basis and will support multi-currency transfers. Furthermore, the introduction of an Instant Payment System (IPS) is planned for the end of 2026, which will enable users to carry out transactions within seconds, at any time of day. Both systems will be built on the ISO 20022 messaging standard, which will significantly improve the interoperability of payment systems both domestically and at the international level,” said Ekaterine Galdava.
The NBG Vice President also spoke about Georgia’s strategic location and the significance of the Middle Corridor, noting that the country is well-positioned to become a regional financial hub between Europe and Asia.
“Georgia’s strategic location affords us a unique opportunity to become the region’s financial hub between Europe and Asia. Real-time payments and the integration of payment systems will, in turn, facilitate trade growth, reduce transaction costs, and strengthen regional economic ties,” she stated.
During the panel discussion held as part of Central Banking Meetings, Ekaterine Galdava also addressed the introduction of financial innovations in Georgia, underlining that the National Bank of Georgia is actively fostering financial innovation across both regulatory and technological development fronts.
She further noted that the NBG has already introduced a regulatory framework for digital banks and virtual asset service providers, established regulatory and technical sandboxes, and developed a fintech development strategy, all of which serve to ensure the safe integration of artificial intelligence within the financial sector.
The panel discussion held as part of the Central Banking international conference also featured the participation of Aleksandre Ergeshidze, Head of the Specialised Risks Department at the NBG. The panel addressed cyber threats facing the financial sector and the means to tackle them, as well as practical strategies for cyber risk management and the role of central banks in this regard.
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