No risk of influx: Irakli Rukhadze refutes settlement fears over Eagle Hills investment
Fears that Eagle Hills’ planned investment in Georgia could result in large numbers of foreign nationals moving to the country are groundless, Irakli Rukhadze, the founder of Hunnewell Partners, told Business Insider Georgia as he assessed the company’s planned investment projects in the country.
“There is a major group - a truly large, verifiable and very serious group - that has expressed a desire to invest in Georgia. I don’t know the exact terms myself, so I cannot comment on them, but I can speak about the fears I’ve been hearing”, Rukhadze said. “There may be many concerns, but the main one is this: will this investment bring people here to relocate, people who may be good or may be bad?”
According to Rukhadze, such concerns are misplaced.
“This fear is unfounded because investment and the right to settle are two completely different dimensions. You can go and buy property in the US very easily, even without visiting, but that does not guarantee you a visa - let alone the right to reside there. Property ownership and matters of residency or settlement are entirely different issues handled by different authorities, and they cannot be automatically linked unless explicitly stated in an agreement”, he continued.
Rukhadze added that he has not seen the agreement with Eagle Hills, but he strongly doubts it would include any provision granting residency rights to buyers or investors.
“I would be very surprised if the Georgian Government delegated such authority to a private investor. And if that is not the case, then these fears are unfounded”, Rukhadze concluded.
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Today a settlement agreement was signed with Inter RAO, which will have minimal, almost zero, impact on Georgia’s economy - Levan Zhorzholiani
08.01.2026.22:42
Levan Zhorzholiani, the Head of the Georgian Government Administration, on Thursday said that despite anti-Russian rhetoric in public statements, the former Government under Mikheil Saakashvili transferred strategic energy facilities to the Russian side and imposed higher tariffs on Georgian citizens by its own decision - an approach that was later rejected by the Georgian Dream Government.
In his remarks, Zhorzholiani noted that the Saakashvili administration sold all strategic energy assets, including the transfer of the Khrami hydropower plants to Inter RAO, a Russian company, further pointing out that a Government decree was issued at the time, under which the Georgian Government promised to compensate the Russian side for its investments through increased electricity tariffs.
“The Government also issued a directive promising the Russian side that the increased electricity payments would compensate for the costs they incurred, which, of course, would have burdened Georgian citizens by raising electricity tariffs. The Georgian Dream Government refused to do this. Firstly, because the Government has no authority to set such tariffs; that is the responsibility of the Georgian National Energy and Water Supply Regulatory Commission (GNERC). GNERC set a fair tariff that did not align with Russian interests, which led to arbitration proceedings”, he noted.
“Thanks to the active involvement and efforts of the Ministry of Justice, today a settlement agreement was signed with Inter RAO, which will have minimal, almost zero, impact on Georgia’s economy”, Zhorzholiani continued.
“As for political responsibility, it is clear that a government which publicly declared itself anti-Russian, but in practice acted in the most pro-Russian manner, transferred strategic energy facilities to a Russian company and attempted to impose increased tariffs on its own population - something the Georgian Dream government firmly rejected”, he concluded.