Developing of the Free Tourist Zone in Kobuleti (seaside resort in Georgia's Adjara region) will be started by the end of this month. Georgian Ministry of Economy and Sustainable Development have already chosen 8 companies and physical entities which will work on 15 hotels.
According to the project, an investor who decides to invest at least 1 million GEL in Kobuleti will be free from paying of property and profit tax during 15 years. The investor will be handed over a plot for construction at a symbolic price of 1 GEL.
The Ministry received 52 statements both from Georgia and abroad so far.
Deadline for the submission of hotel construction projects for the promotion the development of Kobuleti "Free Touristic Zone" has been postponed till December 15.
