Georgian Parliament Speaker hails Trump Tower Tbilisi as mutually beneficial, ahead-of-its-time project
Shalva Papuashvili
Photo: Parliament of Georgia
The Trump Tower Tbilisi project is of particular importance to Georgia’s economy and is expected to make a significant contribution to the country’s economic growth, Georgian Parliament Speaker Shalva Papuashvili said on Tuesday.
In an interview with the Georgian Public Broadcaster, Papuashvili noted that Georgia’s strong economic performance by global standards had helped attract plans to develop a skyscraper complex in Tbilisi under the Trump Tower brand.
He stressed that the arrival of the Trump brand in a country is, in itself, a statement.
“I have just come from the presentation of the project, and it was truly remarkable, both in terms of its content and its format. This project is significant in two respects. First, it represents a $2 billion investment, which is a very large-scale investment in itself. Therefore, it is of particular importance to our economy”, Papuashvili said.
He added that the Eagle Hills project represents an additional $6 billion investment.
“Let me remind you that, in parallel, the Eagle Hills project involves a $6 billion investment. In total, these two investment projects represent $8 billion in investment. Therefore, they will, in themselves, constitute a significant contribution to our economic growth”, he noted.
Papuashvili also highlighted the significance of the Trump brand itself.
“Second, there is the brand. When the Trump brand enters a country or a city, that is already a statement in itself. Today, Donald Trump’s son, Eric Trump, who joined the presentation, spoke about why the decision was made to build a Trump Tower in Georgia. Although 99% of ideas and projects are usually rejected, this particular proposal - to build a skyscraper complex in Tbilisi under the Trump Tower brand - attracted the attention of the Trump Organization because Georgia has an exceptional rate of economic growth by global standards,” he continued.
Papuashvili noted that Georgia has maintained an average annual economic growth rate of 9% over the past five years.
“No country has experienced such growth, not only in the region but anywhere in the world. This demonstrates the country’s enormous investment potential”, he said.
“Secondly, there is Georgia itself and Tbilisi as a location at the crossroads of Europe and Asia and of different cultures, with its political and economic significance. I believe the presence of the Trump brand here is also important for the Trump Organization itself - for the Trump brand to appear and shine proudly in this part of the world, at this crossroads of civilizations”, Papuashvili added.
He concluded by expressing confidence that the development is a major mutually beneficial project that, “as was noted today, is truly ahead of its time”,
The Trump Tower Tbilisi project was presented on Tuesday.
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