CEFC to set up zone in Georgia

Chinese conglomerate CEFC China Energy Co Ltd is playing an active role in the countries and regions involved with the Belt and Road Initiative and plans to set up a cooperation zone in Georgia to diversify its overseas investments, a top executive said during the Fortune Global Forum held in Guangzhou on Thursday.

Located at the crossroads of the Middle East and Eastern Europe, Georgia is one of the key economies involved in the Belt and Road Initiative, as well as an important traffic and logistics hub in Europe, said Jiang Chunyu, board member of CEFC China.

The Chinese firm said earlier that it plans to invest in an industrial zone in Poti, Georgia, on the Black Sea, which will be engaged in manufacturing, trading and logistics as well as financial services.