Please check digest No 49

On December 2, 2010, by the decision of the Board of Management of International Investors Association of Georgia Mr. Iason Tsertsvadze was appointed as a Secretary General of the Association.  The Board of Governors, the Trustee Board, member organizations and staff congratulate Mr. Tsertsvadze with this appointment and wish him success in his endeavors.

Please see CV...

Well –known Electricity and Mechanics Company “Cagla Group”, which has established its subsidiary company in Batumi, enters Georgia. The company’s presentation was at Hotel Sheraton Batumi on December 14.of current year. Batumi Mayor Robert Chkhaidze, Deputy Minister of Finance and Economy Mr. Tamazi Shavadze, General Secretary of International Investors Association of Georgia Mr. Iason Tsertsvadze and the representatives of the local large construction companies and other officials attended the presentation. The company in Electricity sphere is of World Standards level. It has implemented the most important projects in many countries: hotels, houses, outdoor lights, shopping centers, bank buildings, educational institutions, factories, hospitals and health centers. The firm implements projects with French partners. They set up such systems when the whole city lights are managed and controlled by one point. The projects carried out by them are: The Eiffel Tower lighting, The Brandenburg Gate, the Parliament building in Mexico, the Kazakh president’s residence. The company plans to train local staff, create powerful electrical staff working on modern systems in Georgia that will eliminate the gap in this field. The company is also going to develop the concept of outdoor lighting in the near future and submit it to the Government of Adjara. The International Investors Association welcomes the company’s entry into market and believes that the company’s investment will increase the number of employees in the region as well as competitive business environment.

Please check digest No 48

Please check digest No 47

The next  meeting of  Board of Trustees  was arranged in the International Investors Association on the 2^nd of  December of current year.

Several issues were handled:

1) Introduction of a candidate for the position of General Secretary to Board of Trustees.

2)Associations working plan fot the immediate future.

1. Chairman of the Board of Trustees Mr. Cemal Bilgingulluoglu introduced Mr. Iason Tsertsvadze’s candidate for the position of General Secretary to the Board members. The Board approved Mr. Tsertsvadze’s candidate and assigned specific duties to him, as a part of job description.

2.The Working Plan included conducting consultations with the Parliamentary Committee on    Sectoral Economy and Economic Policy Issues on investment legislation and developing legal procedures in this sphere, with the goal of improving doing business activities for member companies, facilitating measures for investing in Georgia with regard to informational, organizational and legal support to potential investors and other issues important for investors and investments.

Please check digest No 46

Please check digest No 45

On November 24 of current year the representatives of the project “Economic Recovery Initiative” of USAID, Georgian and foreign experts visited International Investors Association of Georgia in order to get full information about business potential from different sectors of Economy.

The main goal of USAID’s project is to promote business competitiveness in Georgia, create more working places and to attract local and foreign investments for which it is planned meetings with following members of association in field of textile: Ajara Textile, BatumiTex and BTM textile. In addition working group of USAID is going to visit Georgian Tekstil LTD in Makhinjauri and meet management representatives.

On November 20 of current year was held meeting with Minister of finance Kakha Baindurashvili organized by Ministry of Finance and Economy of Adjara and International Investors Association.

The attendees were Minister of Finance and Economy of Adjara Vazha Bolkvadze and Deputy Minister Tamaz Shavadze, the representatives of International Investors Association members, Commerce-industrial chamber of Adjara, Association of builders and developers, the head of pharmaceutics association and local entrepreneurs.

During intense meeting with International Investors Association members were highlighted several problematic issues which was the main subject of discussion on the meeting.

On the meeting Association provided the following issues in written form:

1.  About Bank guarantees;

2.   Depending on custom formalities , issues concerning specificity and services;

3.  Concerning assigning codes to the cargos and use of penalty measures;

4.  The tariffs and fees of Revenue Service;

5.  VAT rate on imported equipment for production and technologies;

6.  The permanent growth of tariffs at port, railway and customs terminals;

7.  About court disputes.

Minister of Finance introduced the priorities of a new Tax and Custom code and set different ways for the resolution of these issues which will be considered during working of a Ministry and promote investment environment in Geogria.