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Investors still have time to get to “tourist paradise” in Kobuleti2010-12-16 17:55
Georgian Ministry of Economy and Sustained Development confirmed information about the prolongation of the term for submitting bids for hotel construction in Kobuleti free tourist zone.gt-en-newsitem-inside
According to Business-Georgia, the previous final date for submitting bids for the construction of hotel complexes in Kobuleti free tourist zone was yesterday, December 15. However, now the country's authorities are giving investors another chance.
Let us remind you that on October 26, Georgian parliament in the third and final reading adopted a draft law partially exempting from taxes those investments that will be made in Kobuleti resort development.
The land will be transferred to investors almost free of charge. Georgian government assumed an obligation to provide the required infrastructure in the territory, including gas pipeline and water pipe installation, road construction and electricity installation.
The object commissioning is scheduled for 1 August 2011.
The parliament believes that the Kobuleti free tourist zone project may be successful enough to be followed by other countries.