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Entrepreneurs discovered Batum | Referans 03 April 2008

Turkey’s gateway to Caucasus, Georgia’s autonomous region of Adjara, has now been the Turkish investors new favorite with its increasing purchasing power, with its strategic importance of being the door to Russian, to Turkish Republics and the Asian markets and also with its low costs of inputs.It is recorded that the total Turkish investment in the region reached $ 250 million. The head of the Government of the Adjara Autonomous Region in which Batumi city is also located, Mr. Levan Varshalomidze, said that the trade volume between the two countries increased by an amount of ten times higher during the last four years, and that they expected that the amount of investment will reach 500 million dollars in the next three years. And the second field for Turkish investors to invest, with textile in the first place is the hotel construction. There is a serious viability in the construction of the Hotels in the region. The number of tourists coming to the region increasing with each passing day, and Batum’s move towards becoming a casino center of the are also effective on this rise. While there are two major hotels in Batumi at the moment, the number of 4-5 star hotels are expected to reach 30in the near future. One of these hotels is the Nurol Construction’s Sheraton Hotel.

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