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Thursday, 20 September 2018


Tskhinval attracting Russian money

2011-08-16 21:26

Tskhinval attracting Russian money. 20898.jpegAfter the war in 2008 and further acknowledgement of its independence by Moscow, South Ossetia is gradually opening doors to Russian business. RF businessmen pay more attention to the republic while it recovers from the Georgian aggression. To enhance its investment attractiveness, RSO authorities are ready to make an unprecedented step and lease land to Russian merchants for 99 years.


August 2008 became a Rubicon for all the aspects of life in the South-Ossetian state. It is not only political vector that changed: the recently gained sovereignty opened new horizons, in economy primarily. Earlier, Russian businessmen were afraid to invest in the development of a territory, which status was undefined by Moscow. After Dmitry Medvedev's decision to recognize South Ossetia's independence, the flow of investments to the republic was not huge, though no one had expected an instant financial breakthrough. The situation is changing gradually but inevitably.

RSO government realizes that the only way to rid the state of the label of a "sponger" stuck to it in certain circles is to develop large-scale production in the country, both private and state. That is why, South-Ossetian president has recently voiced his intention to lease land to Russian businessmen for the period of 99 years. He says it will work as additional booster for entrepreneurs, for they will be sure of their business' future.

Indeed, there are a lot of branches in South Ossetia to attract foreign investors with: recreation, sports and mountain tourism, which is perfectly known to the republic's guests. The famous Kroz international youth camp and tourist bases located in Dzau and near Tskhinval were in great demand in past years. These facilities were brought to decay by the 20-year Georgian aggression, though local authorities hope to restore them soon so that they would again host thousands of tourists, Russian ones being in the first place.

For this purpose, the government of the republic adopted a target-oriented state program on tourist branch development. Above all, the republic is noted for its sources of mineral water, which quality equals or even exceeds the world-famous Borjomi. Bagiata and Dzau are gradually winning the Russian market and may as well become a national brand, especially that this business requires relatively low costs.

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