Tornike Rijvadze: We made Batumi European Sports and Tourism City in 2019 and 2020 will be the Year of Recognition of Batumi as an Investment City

Tornike Rijvadze talked about the region’s investment potential at the Government Session. According to the data, FDI in Ajara increased by 43% during the 9 months of 2019 and reached 112.6 million USD.

‘Investment policy and economic issues that are creating new jobs in the region are particularly important for the sustainable development of Ajara. At the beginning of the year, we said that the new investment portfolio would be 3 billion GEL. As of today, this benchmark is already 4 billion Gel and 2000 new job places.

In addition to the investment projects being implemented in the region, international recognition of the region is also important. In 2019 Batumi was recognized Sports City of Europe and Europe's fastest growing tourist destination. ‘Forbes’ has listed Batumi among the top five European investment cities by 2020. Next year will be the year of recognition of Batumi as an investment city’ – Tornike Rijvadze said.

A large share of FDI comes from the energy sector, with high rates of reinvestment; also investment is increasing in construction and tourism sectors.

It is noteworthy that ‘Forbes’ has included Batumi in the list of the best European investment cities by 2020 among the cities like: Rotterdam, Naples, Mejewel, Sequesfehérvare and Porto.