Batumi Investment Forum 2015: The Results
With over 200 participants, the Investment Forum Batumi 2015 was successfully held in Batumi at the Hilton Hotel in the Black Sea Region of Adjara. The event was organized by Cushman & Wakefield | Veritas Brown, together with the Georgian National Investment Agency and the Government of the Autonomous Republic of Adjara. The Forum brought together key policy-makers, government officials, investors and businesspeople who discussed different investment opportunities and business prospects across the Adjara region.
Georgia Today is proud to share the insights of the event that have significantly changed the investment climate in Georgia.
The Investment Forum was opened by Mr. Dimitri Kumsishvili the Minister of Economy and Sustainable Development of Georgia, who discussed the current business environment in Georgia and positive trends in this direction. Namely, Georgia was ranked 15th within 189 states in doing business while international rating agency Moody’s Investors Service changed the status of sovereign rating of Georgia from stable to positive. As the Minister stated, despite external challenges, in 2014 the Georgian economy grew by 4.7%. The Georgian Government expects at least 2% growth in this indicator in 2015.
Minister Kumsishvili also highlighted the volume of the direct investments. According to the data of the first two quarters of 2015, foreign direct investment amounted to 530 million US dollars, which is 5% higher than the same indicators the previous year. The transportation, communication, finance and the industry sectors have the largest contribution to those indicators.
The Minister also pointed out the growing number of international travelers. In particular, according to the past eight months data, almost 4 000 000 visitors visited Georgia in 2015 which is a 6% increase compared to the same period last year.
Investors participating in the Forum showed a lot of interest in the government’s initiative aiming to support private entrepreneurs in various ways. The Minister noted a new initiative aimed at assisting hotel development in the regions.
The Minister’s speech was followed by the Chairman of the Government of Adjara A.R. Mr. Archil Khabadze, and the Minister of Finance and Economy of Adjara A.R., Mr. David Baladze whose presentations covered dynamics in the Georgian economy and reform initiatives that have improved the country’s business environment. They gave a general overview of the investment opportunities in the region and updated the audience about the projects that are in the pipeline for the year to come.
There followed an interactive panel discussion, high-level presentations and interaction between delegates and speakers. It was an unparalleled experience for all attendees in terms of informational update received in regards of the investment climate and opportunities in the Adjara region and throughout Georgia.
The Head of the Georgian National Investment Agency made a presentation about the seven main questions investors usually ask when first encountering Georgia and highlighted the key investment opportunities in Georgia and in Adjara in particular.
The officials also discussed Georgia’s increasing tourism figures that demonstrate a positive trend over the past 24 months.
The event was concluded with individual sessions between guests and leading consulting companies at a networking reception.
The day was designed to provide an opportunity for guests to make contact and network with senior figures from the business and financial communities, as well as the public sector and government.
“Delegate feedback was highly positive and Cushman & Wakefield | Veritas Brown can announce that several high profile projects in Batumi received investor pre-contacts as a direct result of the conference,” said Tom Day, Regional Director- Hospitality & Investor Services of Cushman & Wakefield | Veritas Brown.
The day following the Forum, participants were invited to tour the site, at which time they had the opportunity to get acquainted with the ready investment projects in the region such as Metro City, Atlas Georgia, Babillon Tower, Alphabet Tower, Grand Hotel Batumi Sea, Grand Resort Development, Dreamland Oasis, Porta Tower Batumi, Princess Hotel Batumi, Crown Plaza Batumi, Semiramida Gardens Holiday Complex, and Gogebashvili Str. 18. It is obvious that Georgia has demonstrated its repeated readiness to serve as a positive investment environment with its different investment opportunities and ready projects. In conclusion, Georgia is definitely a competitive country to invest in.
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