‘Invest in Batumi’: Georgia’s seaside resort hosts business forum

Georgia’s seaside resort town of Batumi is hosting the ‘Invest in Batumi’ business forum, which aims to promote a range of investment opportunities in Georgia’s Adjara region.

Representatives from Georgian and Kazakh business societies attended the forum.

Adjarian Chamber of Commerce and Kazakhstan’s investment agency Kazakh Invest signed a Memorandum on Cooperation (MoC) within the forum.

The MoC will help Georgian companies to export their products to Kazakhstan without obstacles, announced the Ministry of Finance and Economy of Adjara.

The Minister of Finance and Economy of Adjara Ramaz Bolkvadze highlighted the region’s recent economic developments and investment potential.

“A total of $428 million was invested in Adjara, in 2016 of which 71 percent was foreign investments. Last year private investments increased by 17 percent compared to 2015. In terms of investments the leading sectors are energy (45 percent), tourism (32 percent) and construction (21 percent),” said Bolkvadze.

In his words the Ministry was actively working for utilising the investment resources of Adjara. He named several projects that would further improve the investment environment in the region.

Among the projects were development of former military range in Gonio, Heroes Alley, Kobuleti touristic zone. Also, Bolkvadze talked about Goderzi resort, which is the newest of Georgia’s four winter resorts on the slopes of the mountainous Adjara region.

“The development regulation plan of Goderzi has already been created. The Minister of Finance and Economy of Adjara has already started receiving investment proposals. After discussing these proposals, an e-auction will be announced. Development of the resort includes building high-level hotels, food facilities and other public centres in the area,” Bolkvadze said. (Agenda.ge)