Businessman Mark Haynes Daniell: Georgia as investment destination is attractive proposition
The rehabilitation project of Tskaltubo includes the creation of a “unique, modern” spa-resort, establishment of medical tourism services, rehabilitation of the city centre and public spaces, as well as opening of five premium-class and five middle-class hotels, in addition to four other facilities offering different types of accommodation. Photo: Economy Ministry.
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Considering Georgia as an investment destination is a “very attractive proposition”, with the operating environment in the country being significantly improved along with an increase of the gross domestic product per capita, businessman and TV analyst Mark Haynes Daniell said on Wednesday after the Georgian Economy Minister Levan Davitashvili introduced a development plan for western Georgia’s Soviet-era Tskaltubo resort town to representatives of the private sector.
Daniell called Tskaltubo “jewel” of Georgian history and architecture, which “interestingly” connected the past and the future, and said the resort was “a rare opportunity” to invest in the past, which could be an interesting offer in the future, stressing it could achieve success and attract tourists from “all over the world” to enjoy its traditions, cuisine, tourist attractions and projects.
The country has a very capable government that provides services to the people and makes it easy for them to find facilities for investment. [...] Old countries like Georgia have gone through many crises and become stronger after each one. I think Georgia has been a very progressive country in the past, it will be very interesting in the future, and this interim period offers great opportunities to buy assets at very reasonable prices. This opportunity will not exist in the future, and right now there is an opportunity for people to invest in Georgia", said Daniell.
The rehabilitation project of Tskaltubo includes the creation of a “unique, modern” spa-resort, establishment of medical tourism services, rehabilitation of the city centre and public spaces, as well as opening of five premium-class and five middle-class hotels, in addition to four other facilities offering different types of accommodation.
At the presentation of the project on July 5 Georgian Prime Minister Irakli Garibashvili said the government would invest “tens of million” of GEL in effort to rehabilitate the resort into a “world class” spa location and noted that the project would create at least 3,200 jobs directly, and would “significantly increase” the number of visitors to the region.
Businessman, author and TV analyst Mark Haynes Daniell said the international coverage of the Georgian national rugby team’s historic win over Italy this month was generating positive economic effect for the country, in an interview published by Georgian Rugby on Wednesday.
Georgia’s Economy Minister Levan Davitashvili on Tuesday said he expected the private sector to be “very active” and invest at least ₾500 million (about $170mln/€166mln) in rehabilitation project for western Georgia’s Soviet-era Tskaltubo resort.
Georgian Prime Minister Irakli Garibashvili on Tuesday said that the Georgian Government would invest additional “tens of millions” of GEL in the effort to rehabilitate the long-neglected Soviet-era Tskaltubo resort into a “modern, world-class” spa location.
Prime Minister of Georgia Irakli Garibashvili on Tuesday marked the launch of the construction of the Hadron Therapy Centre in western Georgia’s city of Kutaisi by calling the prospective venue an “unprecedented and unique” medical facility of “international scale” that would serve Georgian citizens and patients from across the South Caucasus.
Georgia’s investment potential and cooperation prospects in energy, agriculture and more were discussed on Thursday in a meeting between the Georgian Prime Minister Irakli Garibashvili and Meir Shamir, the Chief Executive Officer of Mivtach Shamir Holdings, an Israeli-based investment company.
Georgian Prime Minister Irakli Garibashvili on Monday said his Government had studied the potential of more than 100 currently unused and former resorts across Georgia and would put them up for privatisation.
The Qatari company Golden Tower Invest Group will create "high-level" hotel, recreation and health infrastructure in western Georgia’s Soviet-era Tskaltubo resort as part of a project aiming to restore the former sanatoriums of the locality into a modern spa resort destination, the Georgian Ministry of Economy announced on Monday.