After introducing 'free tourism zone' in Kobuleti, President Saakashvili announced on November 30 about the plans to extend the same initiative further north on Georgia’s Black Sea coast in Anaklia, close to the breakaway Abkhazia’s administrative border.
Parliament passed on October 26 law exempting from profit and property taxes for next 15 years investors who will invest at least GEL 1 million (about USD 562,000) in construction of hotels on 11.4 hectare plot of land in Kobuleti in Adjara Autonomous Republic on Black Sea coast.
Speaking in Anaklia, north from Adjara Autonomous republic, on November 30, President Saakashvili said that the same rules would apply to investors, who will invest in construction of hotels in Anaklia. He also said that an investor, who would build a 100-room hotel, would be exempted of GEL 5 million (about USD 2.8 million) licensing fee for launch of casino.
He said that the government had already launched major infrastructure projects in the area, which, apart of road, would also involve an airfield.
Saakashvili said that tax exempts would apply to those investors, who will complete construction within 18 months. In Kobuleti’s case, according to the law, deadlines are set to each individual case by a special state commission.
“Investors of all countries, unite here in Anaklia”, Saakashvili said.