David Bezhuashvili, GIG Group Founder, attended the signing of the contract for the transfer of the first concession project in Ukraine—the Kherson Port—to a foreign investor.

On the 26th of June, an agreement was signed in Kherson between the Government of Ukraine and the Georgian-Swiss company “LLC RISOIL–KHERSON,” and the decision of the Competition Commission of the Ministry of Infrastructure of Ukraine of January 21, 2020, came into force. According to the contract, the Kherson Commercial Sea Port was transferred to the company “LLC RISOIL–KHERSON” for 30 years of management. 

 

The Ukrainian President Volodymyr Zelensky attended the contract signing ceremony in Kherson. The Ukrainian President spoke out about his support for the concession at the 2020 Davos Economic Forum, noting that this is an important stage in the development of a new economic policy and legislative changes for the Ukrainian economy. These reforms gave the investor the right to manage strategic state facilities, which created completely new and different opportunities for investors and, first of all, for the Ukrainian economy.

What is important to notice is that the government’s partners in the implementation of the first successful concession project in Ukraine are the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD).

Along with Ukrainian officials, the ceremony was attended by the founders of the winning investor company: David Bezhuashvili, founder of GIG and representatives of the Swiss company “RISOIL S.A.”. The Ukrainian government, due to high public interest, presented the winning company to the public and the media several months ago. Official Kiev noted that the competition process was conducted fairly and transparently. The main selection principle was the reliable reputation of the winning investor and the best investment proposals and business experience presented by them.