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Largest Investment to be Made for the Revival of Mountain Tourism

Development of tourism infrastructure begins in the resort of Bakuriani.

The Memorandum of Cooperation was signed between the state and the private sector at Radisson hotel. The Memorandum was signed by the Ministry of Economy, National Agency for State Property Management, Mountain Resorts Development Company and a representative of  New Mitarbi company included in Georgian Reconstruction and Development Company.

According to the Memorandum, the Government of Georgia will allocate GEL 48 million for the Mitarbi and Kokhta cableway project, the Georgian Reconstruction and Development Company” will invest 70 million in the  real estate that will be  one of the largest investments in the revival of mountain tourism.

In the words of Economy Minister George Kvirikashvili, it is important that the project  is implemented on the partnership principle between the state and private sector which is a necessary condition for the development of a market economy. TBC Group’s founder Mamuka Khazaradze labeled this project as an unprecedented event of cooperation between the state and the private sector.