Following the completion of the artificial island and two peninsulas project in Batumi, implemented by the company "Ambassadori Island Batumi", the national budget is expected to accrue an additional $64 million. Gocha Kamkia, the CEO of Ambassadori Island Batumi and a speaker at the 22nd panel of the Economic Forum, revealed this information to Business Insider Georgia.

Gocha Kamkia has stated that the businesses which will be part of the Ambassadori Island Batumi project are expected to create employment opportunities for tens of thousands.

“According to studies conducted by international economists, the Ambassadori Island Batumi project, which is expected to be completed within the next two years, is expected to generate approximately $64 million in annual tax revenues. The same study indicates that businesses operating on the island will eventually employ up to 20,000 people, which is a figure of great significance in terms of job creation. The development of this project is being approached in a manner that is both long-term and sustainable, with a clear sense of purpose. Each day brings new and positive developments," Gocha Kamkia stated.

The project has attracted significant interest, as noted by the company's CEO, with investor demand for developing businesses on the island and peninsulas remaining high.

"Ambassadori Island Batumi offers local and international investors the opportunity to make swift business decisions, even within a single day, to launch their ventures in Georgia, as the island provides fully prepared economic infrastructure. We are pleased to announce the commencement of development for three land plots, each with a dedicated investor and ambitious development plans. Furthermore, the company has established a strong presence both in Dubai and, more recently, in the Republic of Poland, where it is engaged in active dialogue with major business representatives. They have expressed concrete interest in investing in Georgia, which is both encouraging and a validation of the expectations we had at the outset of this project," explained the CEO of “Ambassadori Island Batumi”.

The Ambassadori Island project is being implemented by the “Ambassadori Group” in collaboration with various international companies. The "Ambassadori Island Batumi" project, involving the development of two artificial peninsulas and one artificial island spanning 84 hectares in the sea, is being undertaken in strict accordance with the principles of sustainable development and the criteria for smart city standards. Given the project's potential to boost tourism and generate significant economic activity, it is anticipated that Batumi, and indeed the entire country of Georgia, will be positioned on a new global investment map.