After the implementation of the artificial island and two peninsulas project (Ambassadori Island Batumi), which is being carried out by the company Ambassadori Island Batumi, an additional 64 million USD will be accumulated in the state budget. This was announced to Business Insider Georgia by Gocha Kamkia, General Director of Ambassadori Island Batumi, who was one of the speakers at the 22nd Economic Forum discussion.

According to Gocha Kamkia, in the future, businesses implemented within the Ambassadori Island Batumi project will employ tens of thousands of people in total.

“According to studies by international economists, after the Ambassadori Island Batumi project is completed—which we plan to happen in about two years—the annual accumulation from taxes alone will amount to 64 million USD. According to the same study, the businesses developed on the island will in the future employ up to about 20,000 citizens, which is an incredibly impressive indicator in terms of employment. Therefore, we are very happy that we are developing this project in a long-term, sustainable, and purposeful way, and we are practically seeing new positive realities every day,” said Gocha Kamkia.

The company’s head says that there is high interest from investors regarding the project and the development of businesses on the island and peninsulas.

“Ambassadori Island Batumi offers endless opportunities for both local and international investors to make a business decision in one day to start business in Georgia, because the island has ready-made economic opportunities. Therefore, we are happy that three land plots are already under development, each with its own investor and ambitious plans for development. In addition, we have strong positioning both in Dubai and now in the Republic of Poland, where we are in dialogue with representatives of major businesses. They have expressed their intentions regarding investments in Georgia, which is very pleasant and fulfills the expectations we had at the beginning of the project,” explained the General Director of Ambassadori Island Batumi.

As a reminder, the island project is being implemented by Ambassadori Group in cooperation with various international companies. Ambassadori Island Batumi, which aims to form two artificial peninsulas and one artificial island on 84 hectares of sea territory, is being developed in full compliance with the principles of sustainable development and smart city design. The project has both tourism and significant economic importance for the region, which will place Batumi and Georgia as a whole on the new global investment map.