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Turkish Investments Halved in Ajara

Turkey has invested 135 million dollars in 2016 in the region of Adjara; Last year, this figure fell to 52.5 million dollars. Eka Bakhtadze, Head of Economic Development Department of Ministry of Finances and Economics  said that Turkish and in general, the reduction of investments is related to HPPs construction projects.

“The decline in investments is mainly due to the completion of HPP projects. Namely, from Norway and India investments (Adjara water project) and Turkish investment – “Adjara Energy”, which is a project of hydroelectricity; However, steadily investing in the direction of tourism from Turkey, this is mainly construction of hotels and housing, “Bakhtadze said.

According to the information provided by the Ministry of Finance and Economy of Adjara, a total of USD 365.8 million was invested in Ajara in 2015. This investment was 29% , $ 107.5 million in Turkish investment; From $ 427.9 million in 2016, the Turkish investment amounted to 135.6 million dollars, which is 32% of the total investment.

In 2017, Turkish investment volume decreased to 52.5 million dollars.

Last year, 330.8 million USD was invested in Ajara.