Free economic zone planned for Gali, Georgia’s breakaway Abkhazia
Monday, October 24
The de facto leadership of Georgia’s breakaway region of Abkhaziais looking to establish a free economic zone to contribute and stimulate the economy.
All necessary documents were already ready to create the free economic zone on the 7,000 hectares territory in Gali, 77 km southeast to Sokhumi, the capital city of Abkhazia.
This week, the de facto head of the Administration of Gali district, Temur Nadaraya, requested that the de facto president Abkhazia, Raul Khajimba, create a free economic zone in Gali.
'Free Zones' are geographic areas in which a governmental authority offers incentives different from the host country's regular policies, to companies operating in the region. Given the nature of these incentives, designated zones are often said to function as ‘growth poles’ for the region, or even beyond.
The taxation rules are determined by each country.