MOSCOW, June 18Thanks to preferences for foreign investors in Abkhazia, businessmen from Russia began to work more actively in the republic, in particular, in the resort industry, Alkhas Kvitsinia, Ambassador of the Republic of Abkhazia to Russia, said in an interview.
«We have legislatively guaranteed preferences for foreign investors — they depend on the amount of invested capital and provide for serious tax benefits, including in terms of terms. And Russian business is starting to actively operate. This mainly concerns the resort and tourism industry,» — said the diplomat.
According to Kvitsinia, Sukhum is interested in attracting businessmen from Russia. «We hope that the areas of interest will be expanded — agriculture, industrial production and so on. The authorities will only contribute to this process,» he added.
After Georgia's armed aggression against Tskhinvali on August 26, 2008, Russia recognized the sovereignty of South Ossetia and Abkhazia, which have long sought independence, and is providing large-scale financial and socio-economic assistance to the development of the republics. Thus, in particular, the volume of the investment program to promote the development of Abkhazia for 2017-2019 amounted to about 6 billion rubles. At the end of 2019, the Russian investment program for 2020-2022 was approved. The amount of funding for three years amounted to 4.5 billion rubles, 1.5 billion rubles for each year. The funding limit for the project of the Russian investment program for 2023-2025 will be 4 billion 50 million rubles.