Economy Ministry to Prepare Conclusion on Industrial and Tourist Zones
 
News ArchiveJanuary 14, 2013

The government will examine Free Industrial Zones (FIZ) issue, economy ministry has already working on this issue by order of the Prime Minister. Economy minister Giorgi Kvirikashvili states commersant.ge they should explore the advantages and disadvantages of the zones and will take the appropriate decision in the near future.

 

A tourist zone issue is also being studied. The PM ordered to fully explore this issue and in the near future provide an analytical report, "- Kvirikashvili notes.

A reminder: The government offers tax incentives for investors operating in the tourist zones. In its time the government commission has revealed eight investors that have to build 15 hotels. However, a former minister of economic development Vera Kobalia was the first who recognized the tourist zone of Kobuleti was not successful.

Statements were made ​​about the failure of industrial zones as well, which creation was initiated by President Mikheil Saakashvili in 2007. According to him, these areas had to attract at least 200 million USD of investments, tens of thousands of people had to be employed and more than 400 enterprises had to be set up. However, the infrastructure minister announces it is too early to talk about efficiency of industrial zones.
Source:www.commersant.ge