On April 20, 2011, International Investors Association of Georgia (IIA) hosted the President of Chamber of Commerce and Industry of the city Katowice and the President of Special Economic Zone in Katowice (Poland). The guests from Poland were briefed on the structure, activities and future plans of IIA.  The sides have discussed the opportunity to organize the Poland-Georgia Business forum in the Region of Adjara.

Please check digest No 63

Dear Ladies and Gentlemen,

Let us remind you that, International Investors Association of Georgia has implemented researches regarding the problems faced by Association member companies; the problems were analyzed and provided to the appropriate local and central public authorities (Please, see the attached file of the problematic issues’ list).

As a result, we would like to inform you that, the Georgian Government in co-operation with International Investors Association of Georgia has recently resolved 2 points of the problematic issues:

1. Present practice of imposing of penalty sanctions, size of penalties, which make great difficulties to companies (please, see the attached file);

2. Not accounting of losses between temporarily importing of fabric and accessories and exporting of ready garments caused in the process of sewing (please, see the attached file).

Please check digest No 62

On April 5 of the current year, the Investors’ Award Ceremony was held jointly by International Investors Association and The Ministry of Finance and Economy according to the results of 2010.

According to the nominations, winner Association member companies were revealed who were given awards:

“BEST  INVESTOR”- Nurol Georgia

“LARGEST  EMPLOYER  COMPANY”- Batumi Tex

“BEST  EXPORTER”- STAR AR GE

“BEST  INNOVATIVE  COMPANY”- ICON GROUP

“LARGEST  TAX  PAYER COMPANY”- Batumi Oil Terminal, which was given a joint prize of the Ministry of Finance and Economy and the Association.

The award ceremony was attended by: the Chairman of the Government of Adjara A.R., Mayor of Batumi, the representative of Supreme Council, Ministries, and Business Sectors.

Please check digest No 61

On March 23, 2011, Business Ombudsmen of Georgia, Mr. Giorgi Pertaia met with representatives of business companies and investors of the Ajara region at the conference hall of the International Investors Association of Georgia (IIA) . About 40 companies , mostly members of the IIA, were represented at the meeting, organized by the Association. In a dialogue format, investors raised a number of problems that are affecting daily activities of the investors in Ajara. Among them the issues of production, import and new tax code were broadly covered. Business Ombudsmen Pertaia welcomed cooperation with investors and expressed readiness to further analyze outstanding problems and mediate with the Government of Georgia, which in turn will improve effective operation of investors in the region and the investment climate, in general.

Please check digest No 60

The Delegation of Ajara Government led by Levan Varshalomidze, the Chairman of Government pays an official visit to the USA, where they will attend an exhibition of world cruise infrastructure – "SEATRADE MIAMI 2011". In the bounds of the visit the Leader of Ajara held meetings with Jose Campos, Secretary General of "MedCruise" and Erkunt Oner, President of "Tura Turizm". The talks between the Autonomous Republic of Ajara and Miami Travel Companies were about future bilateral cooperation. The Delegation of Ajara Government will meet John Tercek, Vice – President of "Royal Caribbean Cruise", Simon Douwes, Director of "Holland America line", Elvira Leshenskaya, Director of "port of Odessa" and Olga k. Bronetskaya, General Director of "INFLOT" of Ukraine. The visit aims to attract investments in Batumi Port. Official visit will finish in 17 March.

The agreement between "Silk Road Group" and "Trump" Organization on construction of Trump-Tower in Batumi was signed in the company of famous multi-millionaire in New Your City. At the first stage the private investments of Donald Trump was defined in 250 Million USD and includes building of dwelling and hotel complexes in Tbilisi and Batumi. The construction will launch from Batumi and will continue in Tbilisi. Besides of hotel and dwelling apartments, casino and office spaces also will be placed in the complex.