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RAK and Georgia unveil Dh3b investment plans

posted on 18/02/2007: 874 views

Georgia and Ras Al Khaimah announced yesterday the establishment of a business partnership worth Dh3 billion aimed at tourism, shopping and real estate investments in Georgia. The initiative will also promote the transfer of management skills in the private sector.

Speaking to Gulf News at the end of his two-day official visit to the UAE, Mikheil Saakashvili, President of Georgia, said the country is willing to imitate the UAE style in building businesses and creating an international image.

After a meeting yesterday with Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras al-Khaimah. Saakashivili said the partnership initiative includes construction of a whole new town called "Tiblisi Heights" and other tourist facilities in the Georgian capital. It includes the building of a shopping mall in the capital and a number of key projects in other parts of the country.

Tiblisi Heights will cover two million square metres and the area of the shopping mall which will be the biggest in the country will cover 150,000 square metres.

Speaking about tourism, Saakashvili said Georgia is keen to attract tourists from the Arab world. "We have many locations that suit the tourist profile of people from the region. These features include a rich culture and a variety of virgin sites stretching from the mountains where we host skiers to clean beaches for swimmers," he said.

He said Georgia is preparing its economy to be part of the EU and this itself offers great investment opportunities for businessmen from the UAE. "Georgia and Ras Al Khaimah were able to build a strong partnership in a short period of time. A ministerial delegation from Georgia visited RAK recently and a team of local executives from RAK followed it up by visiting Georgia in just a week's time and took many decisions, which was truly inspiring," he said. (Gulf News)


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