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• Direct access to major infrastructure objects, including telecommunications,
water supply, power supply, and transportation, in the course of activities within the
territory of a free economic zone.
Companies registered in free economic zones are prohibited from:
• development and production of mineral resources;
• import, production and sale of excisable goods,
except those meant for
production purposes and production of goods other than excisable goods, after payment
of taxes and customs duties.
• production, repair and sale of weapons and ammunition, production and sale
of explosives used in production of weapons;
• production, processing, storage, deactivation, sale of radioactive, nuclear and
other hazardous materials;
• import, storage, production and sale of narcotic and psychotropic substances,
except precursors used in production purposes.
Companies interested in operating in a free economic zone must be registered in
it. Procedure for registration of business entities with foreign interest is established by
the General Directorate of a free economic zone.
The term "special tourist zone" means an area designated as one exempted or
granted leniency from regulations under any statute related to tourism activities and in
which it is required to apply endeavors to develop an environment for tourism, such as
services, information systems, and public relations, relating to tourism activities in
order to facilitate the attraction of foreign tourists and the Tourism Promotion Act.
Special tourist zones shall be designated by the Governor at the requests of the
head of a City/County/District (excluding cases of the Special Self-Governing
Province), from among areas that satisfy all the requirements in the followings:
The number of foreign tourists shall reach or exceed
the quota prescribed by
Presidential Decree. There shall be facilities for tourist information facilities, public
facilities, accommodations, etc. to meet the demands of foreign tourists, as prescribed
by Ordinance of the Ministry of Culture, Sports and Tourism; and the ratio of land that
has no direct connection with tourist activities, such as woodlands, farmland, industrial
area, and housing lots, shall not exceed the guideline prescribed by Presidential Decree.
The ratio of the area of land that has no direct connection with tourist activities,
such as woodland, farmland, industrial area, and housing lots, to total area of a special
tourist zone should be less than 10 percent.
There shall be facilities for tourist information, public convenience,
accommodation, etc. to meet the demands of foreign tourists as follows: public
facilities, tourist information facilities, accommodations, sports & recreation facilities,
entertainment facilities and shopping facilities.
Free tourism zone applications of Georgia, Korea and India.
A free tourist zone exempted from property and income taxes will be set up in
Kobuleti, Ajara region soon. The government-initiated bill is going through accelerated
parliamentary procedures so as to make the free tourist
zone idea true as soon as
possible.
Certain allowances will be determined for construction of the hotels within the
pine-grove at the territory of Kobuleti municipality, the Black Sea resort of Georgia in
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Ajara region. The construction site in the pine-grove is by 140 meters away of the
seaside and encompasses three land-spots with the total area of 11.3 thousand hectare.
Three types of hotels are defined to be constructed there: 5,6 and 7-story buildings
including 42, 52 and 60 rooms respectively. 27-30 hotels are supposed to be
constructed ultimately.
Businessmen, who will invest at least GEL1 million in hotel construction in
Kobuleti and sustain the hotel profile during 15 years, will be exempted from the
property and income taxes for the equal period. The construction sites will be handed
to such investors for symbolic price as of GEL1. Government will ensure organization
of the adequate infrastructure for the hotels and leisure complexes with the
purpose of
fostering development of the corresponding project.
According to Giorgi Khuroshvili, the Parliamentary Secretary of the
Government of Georgia, the questioned project was elaborated with the aim of
fostering creation of the profitable conditions for the development of entrepreneurship
and tourism in Georgia. Kakha Okriashvili, the MP
called on the Government to
implement the similar projects in the other regions such as Borjomi, Kazbegi, Tusheti,
Dmanisi and etc. Khuroshvili does not exclude that similar project will be deployed in
other tourist venues as well if the pilot project in Kobuleti is successful. According to
him, the upcoming project caused quite a big interest and the Government was
addressed with much more proposals that expected.
There are some fears however that construction timetables are somewhat
unrealistic and it is impossible to complete construction works in nine months. And
unsuccessful investors may face financial sanctions if they break timetables envisaged
by contracts. It seems unreasonable to attract due investments when the project
countdown is on while the law regulating the project is still under vision. Investors
need firm guarantees that they will really enjoy profits out of the pine-grove hotel zone.
But the single proposal government offers in this case is that if investors fail to
get through with the construction of hotels by the fixed
deadline they can inform
Georgian government beforehand and the project implementation period can be
prolonged by 3 months. On the other hand MPs propose not to deprive the unsuccessful
investors of the project implementation rights immediately [if they fail to meet
deadlines] but give a warning first. According to Okriashvili winter in Kobuleti is quite
rainy that can create setbacks to construction works even against the backdrop of the
art-of-the-state technologies.
At last the Government established first “Free Tourism Zone” in Kobuleti.
Ministry of Economy and Sustainable Development of Georgia started accepting
statements from physical and legal entities concerning construction of hotels with the
intention to develop Kobuleti “Free Tourism Zone”.
There is no place like Gyeongju, where you can
trace the full history of a
dynasty. As the capital city of the Silla Dynasty, which lasted about 1,000 years from
57BC to 935AD, Gyeongju is a unique city with all the traces of a long history and
culture. Bulguksa Temple and Seokguram Grotto were the first UNESCO World
Heritages to be designated in Korea, and are called the Gyeongju Historical Area. So
this place has been internationally acknowledged as a treasure to be preserved with its
tourist attractions on every corner of the city. With its precious relics which still contain
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a memorable history, and as a representative historical and cultural city, Gyeongju,
dating back 1,000 years, is a perfect place to travel back in time.
Korea Free Economic Zones (KFEZ) are designated
to strengthen national
competition for businesses and promote balanced regional development by improving
living conditions and business environments for foreigners in South Korea. Korea's
economic zone planning office is in charge of this project. The Korean government
provides a variety of tax benefits for foreign firms and foreigners, as well as a simpler
regulatory regime, a favorable living environment and swift administrative services.
KFEZ endeavors to establish economic and social institutions that lead global trends
and provide a variety of incentives.
The travel and tourism industry in India is buzzing with optimism and is now
laying thrust on promoting the tourism sector across the world.
While presenting the Union Budget 2017-18, Finance Minister Arun Jaitley
announced that five special tourism zones will be set up across the country in
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