Batumi is an administrative center of Ajara Autonomous Republic. Batumi serves as an important port and a commercial center. It is situated in a subtropical zone, rich in agricultural produce such as citrus fruit and tea.
While industries of the city include shipbuilding, food processing, and light manufacturing, most of its economy revolves around tourism.
Since 2010, the face of the city has been transformed by the construction of new high-rise landmark buildings and the renovation of the Old Town.
TOURISM
- Tourism is one of the priority sectors in Ajara with its high potential in the economy (33% of the total investments)
- Diverse nature offering wide varieties of tourism activities all year round
- Rapidly developing hospitality infrastructure
- International hotel brands represented in Ajara
- Intensive promotion of the region as all-year round tourist destination
- No license for operating a company in the tourism sector
- No license fee for opening casinos in hotels with more than 100 rooms
- No VAT on the revenue received from incoming tourists
- 18 new high class hotels will be opened in Ajara by 2020
AGRICULTURE
Land for agricultural purposes in Ajara, due to its mountainous terrain, covers 72 862 ha, which is about 25% of its territory.
Sourse: Ajara investment portal
Advantages of Agricultural Sector in Ajara:
- Favourable trade regimes
- Competitive labour force
- Fertile soil and diverse climate conditions
ENERGY
There are 5 hydro power plants in Ajara operating under the license of the Georgian National Commission on Energy Regulation. Their overall capacity is 22.2 thousand kilowatts/hour and annual energy generation is 28.5 million kilowatts/hour which is only 0.8% of the whole potential of Georgia.
Hydro Power Potential of Ajara
According to experts’ calculations, the potential annual capacity of Ajara is 1000 megawatts, which generates 8760 million kilowatts/hour. During the last 20 years, 50-92 million kilowatts/hour was generated annually, which is only 1% of its potential.
TRANSPORT
Georgia with its strategic location creates natural logistic bridge between Caucasus and Central Asia.
The transport infrastructure in Ajara is a critical part of the country’s logistic infrastructure. Huge amount of cargo is imported and exported via Batumi Sea Port and Batumi-Istanbul Highway.
MANUFACTURING
The main industries developed in Ajara are as follows: food production, apparel, wood processing and production, and manufacture of non-metallic mineral products.
Sourse: Ajara investment portal
Construction
Construction is one of the most dynamically growing sectors in Ajara region.
Sourse: Ajara investment portal
LOGISTICS
Ajara is in a highly strategic location, offering potential investors great opportunities in transport and logistic sectors. Two central highways and state border with Turkey create favorable environment for local and foreign businesses.
FINANCIAL SECTOR
There are following financial institutions in Ajara region:
- 17 commercial banks (83 service centers)
- 9 insurance companies
- 11 microfinance institutions (2 head offices, 37 service centers)
- 2 credit unions
- 316 currency exchange units
- 3 money transfer units
10 TOP REASONS TO INVEST IN BATUMI
- Business-Friendly and Stable Environment
- Strategic Geographic and Logistic Location
- Low-cost and Competitive Labor Force
- Simple/Low Taxes and Incentives
- Preferential Trade Regimes
- Developed Infrastructure (physical, financial)
- Diverse Investment Sectors
- Liberal Economic Legislation
- Abundance of Natural Resources
- Association Agreement with EU
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DURING THE TOUR THERE WILL BE HELD A BUSINESS DINNER WHERE INVESTORS WILL HAVE THE OPPORTUNITY TO MEET WITH THE LOCAL BUSINESSES AND GET THE INFORMATION ABOUT THE SPECIFIC INVESTMENT PROJECTS.
GUESTS WILL ATTEND BUSINESS FORUM “TOURISM INDUSTRY 2016” ORGANIZED BY BUSINESS GEORGIA ON SEPTEMBER 29-30.
TOUR WILL ALSO COVER TOURISTIC SITES: BATUMI BOTANICAL GARDEN, BLACK SEA ARENA, ALPHABET TOUR, FUNICULAR ARGO, NOBEL BROTHERS BATUMI TECHNOLOGICAL MUSEUM, BATUMI BOULEVARD.
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