Meeting with Prime Minister Shamba

I met with Prime Minister Sergei Shamba in his office in Sukhum, May 28, 2010.  We spoke about Abkhazia's developing economy.  There are plans for airline flights from Russia into Abkhazia and passenger rail service should begin this summer.  Abkhazia is poised for a flood of tourists that will continue to grow for the foreseeable future.  There is a much pent up demand from Russia, especially, as well as Ukraine and the Baltic states.  A problem is the lack of infrastructure and accommodation for tourists due to damage in 1992-93 and the lack ond investment since then. The Republic of Abkhazia has a number of state-owned projects (including seaside resorts) that could be developed, but they lack the investment capital.  Another issue is the dearth of knowledge about Abkhazia in investing circles.  The Prime Minister is aware of my history working in American capital markets and in property ownership in Russia.  I told him that a real impediment to attracting outside investors was the lack of specific information on projects.  I said that I thought that a firm based in Sukhum that had could research projects, utilize 3rd party reports, negotiate terms with the government and write deal proposals in business English would be necessary to attract outside institutional capital.  I also told him that I would like to open the firm and to put summaries of specific projects along with photos, videos and maps on a website devoted to development and investment opportunities in Abkhazia.  The Prime Minister thanked me for my interest in Abkhazia's future and invited me to open a firm in order to bridge the gap between Abkhazia and the capital it needs.