Shota Berekashvili, Chair of the Economic Policy Committee, addressed the attendees of the 66th sitting of the PABSEC Committee on Legal Affairs and International Cooperation, held in Borjomi.

According to him, Georgia considers cooperation in the Black Sea region a milestone for its economic and strategic security. The Black Sea is not a geographical area alone, but serves as an infrastructural, transport and energy axis, connecting Europe and Asia.

“Today, the global economy transitions into a new phase where AI and advanced data infrastructure serve as a key driver of economic growth. Goldman Sachs estimates that the introduction of AI could increase global GDP by approximately 7%, while McKinsey forecasts that investments in the AI sector will reach 7 trillion USD by 2030. The global demand for data centres is also expected to increase by 3.5 times annually.

Such a transformation creates significant opportunities for countries like Georgia. Low energy tariffs, a high share of renewable energy production, a favourable climate and access to land resources constitute ideal prerequisites for data centre development.

Besides, the completely digitalised public service system and transparent data management enable the transformation of this infrastructure into a new platform for economic growth”, - he noted.

As per his assessment, the Georgian Government has prioritised the development of its technological and innovation ecosystem. The Kutaisi Technological Hub is a prominent example of this vision, comprising the largest national project in the digital economy. It includes an international IT School with a capacity for up to 1000 students.

“The project is undertaken by GITA, which has already funded over 500 startups and invested more than 50 million GEL in innovative businesses. We aim to make this technological transformation a catalyst for the common development of the Black Sea region, where innovation, energy sustainability and economic cooperation will mutually enhance each other.

The Black Sea submarine fibre-optic cable project is a key pillar of this vision, being one of the most significant regional initiatives to enhance digital connectivity between Europe and the Black Sea countries. This infrastructure will significantly enhance data transfer speed and capacity, facilitating the transformation of our countries into interconnected economic areas.

Georgia is committed to getting engaged in this process - realize its energy, geographic and digital advantages to position as one of the leading technological hubs in the region”, - Sh. Berekashvili stated.