Thursday, 13 May 2004

GEORGIA WELCOMES RUSSIAN INVESTORS IN AJARIA

Published in News Digest

By empty (5/13/2004 issue of the CACI Analyst)

Georgia\'s government is prepared to allow major Russian investors the opportunity to put their money into the Ajarian economy, Georgian Economics Minister Irakly Rekhviashvili told Mze television on Wednesday. Tbilisi and Batumi will soon host a Georgian-Russian economic forum, at which specific investment projects will be presented, Rekhviashvili said. \"Among priority projects are the development of the Batumi seaport, airport, oil refineries, a shipbuilding plant, and other large enterprises,\" he said.
Georgia\'s government is prepared to allow major Russian investors the opportunity to put their money into the Ajarian economy, Georgian Economics Minister Irakly Rekhviashvili told Mze television on Wednesday. Tbilisi and Batumi will soon host a Georgian-Russian economic forum, at which specific investment projects will be presented, Rekhviashvili said. \"Among priority projects are the development of the Batumi seaport, airport, oil refineries, a shipbuilding plant, and other large enterprises,\" he said. The minister noted that the state will retain controlling stakes in the seaport and airport, viewing them as strategic facilities. Asked about the future of investments that Russian companies have already made in Ajaria, Rekhviashvili replied, \"The investments that have been officially formalized will not be questioned.\" He also confirmed that Moscow Mayor Yury Luzhkov \"has business interests in Ajaria.\" \"As economics minister, I regard only two aspects as important: the volume of capital invested and the number of locals employed in these enterprises,\" he said. (Interfax)
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