2016-10-04
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Georgian Co-Investment Fund is to establish Tourism Development Fund of Georgia with a purpose of investing 680 million USD and administering 8 large-scale projects in Tbilisi, Guria, Ajara and Samegrelo.
Prime Minister of Georgia attended the presentation of Tourism Development Fund. According to Giorgi Kvirikashvili, Fund aims at developing tourism infrastructure in the regions of Georgia where tourism industry had previously been overlooked. Prime Minister hoped that new initiative would play a defining role in development of tourism sector.
"Georgia has a vast potential in a view of promoting this industry and we have to spare no effort to become a distinctively interesting destination on the global touristic map. It is evident that lately the number of tourists has increased sufficiently - recent statistical data is a clear demonstration of this fact. This means that awareness and interest towards Georgia is growing on a daily basis. We have to retain and intensify this growing trend. Hence, setting up of Tourism Development Fund is a very timely step for the purpose of achieving this goal. Strategic directions and standards of operation of the Fund are most needed by Georgia today for the purpose of ensuring stable development of tourism in the future. This Fund is called to develop 8 world-class multifunctional hotel complexes with an overall investment cost of 680 million USD - 259 million USD has already been invested," - Giorgi Kvirikashvili noted.
According to the head of the Government, international recognition demonstrated by Marriott International Network to three projects is an indication of the scale and high standards of the Fund. Giorgi Kvirikashvili also elaborated on importance of the multifunctional complex being constructed near the Freedom Square, Sololaki Ridge and the mountain Tabor.
"Following the initiative of the Georgian Co-Investment Fund, high-class of unparalleled architectural value - three-tier complex encompassing multifunctional complexes near the Freedom Square, Sololaki Ridge and the mountain Tabor is being developed. We can say decisively that these complexes alongside with the ecologically clean cableway represent the trademark and the future of tourism development and quality of life of the capital city. Project of Tabor is the 400 000 sq. m of "new lungs" for the city encompassing recreational zone and the golf courses. There is no place like this in Tbilisi. Trend for developing similar projects will start. In the construction of these complexes over 20 000 people will be employed, whereas upon operationalization of the venues around 2 500 people will form the permanent staff," - Prime Minister indicated.
Pursuant to Giorgi Kvirikashvili, company managing these hotels will also be responsible for setting up training centers. The company will retrain local residents thus increasing their qualification and promoting hospitality industry throughout the regions. According to the Prime Minister, the goals of the Fund are in full compliance with the spatial planning component of the Government's four-point reform plan.
"The Fund will concentrate not only on improvement of infrastructure and quality of service, but ecology and healthy life-style as well. The goals of the Fund are in full compliance with the spatial planning component of the Government's four-point reform plan. The Fund is ready to discuss investment projects aligning with the state vision and spatial planning strategy, thus fostering new touristic hubs and attracting additional investments in regions with weaker economic development. Projects in Shekvetili and Ganmukhuri are clear examples of this. I believe that Tourism development Fund will serve a particular role to ensure that our country becomes even more interesting for tourists and investors," - Giorgi Kvirikashvili noted in his speech.
Tourism Development Fund established by the Georgian Co-Investment Fund will be headed by Irakli Karseladze. The Fund aims at fostering rapid development of touristic infrastructure in the country as well as administration of the specific programs designed to improve the quality of service provided by hospitality industry. For the purpose regional training centers are planned to be established to retrain local residents engaged in hospitality industry. The Fund seeks to create new tourism hubs in less economically developed regions of Georgia.
Prime Minister's Press Office