Adjara attracts largest share of Kazakh investment in Georgia

Kazakh investors consider Adjara the most attractive place in Georgia to invest, reports local Kazakh newspaper Kazpravda.

This comment was made on March 31 at a business forum in Kazakhstan’s capital city Astana.

The event, titled Astana-Batumi, was opened by Vice President of Kazakhstan’s Ministry of Investment and Development Jenis Kasymbek and attended by a Georgian delegation and Kazakh businessmen.

The Astana-Batumi business forum aimed to showcase the investment potential of the Autonomous Republic of Adjara to Kazakhstani companies.

From Georgia’s side the forum was attended by head of the Adjara Autonomous Republic Archil Khabadze. He stressed the Adjara region was the fastest growing region in Georgia.

"Due to its favorable geographical location, mild climate and low taxes, the Adjara republic is a very attractive place for investment in tourism: beach, mountain-skiing, gambling, cultural and historical, real estate, logistics, agriculture areas,” said Khabadze.

Georgian representatives of Batumi Sea Port, Hilton Hotel, Orbi Construction and tourist complex Dreamland Oasis made presentations at the Astana-Batumi business forum. These Georgian companies also shared their experience to the foreign investors about doing business in Adjara.

"One of the latest examples of business cooperation between the two countries is the hotel Rixos-Borjomi, which was opened in January this year in the Borjomi Gorge,” said Ambassador Extraordinary and Plenipotentiary of Georgia to Kazakhstan Zurab Pataradze at the forum.

"Kazakhstan business is widely represented in the banking and oil sectors of the economy of Adjara; investments from Kazakhstan were involved in Batumi Sea Port and Batumi Oil Terminal,” he added.

On the other hand Kasymbek stated the partnership between Georgia and Kazakhstan was at "the highest level”.

"Today the trade turnover reaches Euro115 million between Georgia and Kazakhstan. The largest share of Kazakh investments are implemented in Adjara. We do not exclude implementing hydropower and infrastructural projects in this region,” Kasymbek said.

Today, Georgia has about 100 joint ventures that utilize Kazakh capital. (Agenda.ge)