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.

Please check digest No 44

Please check digest No 43...

General Secretary of International Investors Association of Georgia – Mr. Tamaz Shavadze was appointed deputy Minister of Finance and Economy who will supervise investment politic, investment projects, Economic field of the region and existing associations in Adjara, commerce chambers and business unions.

Board of Management, Trustee Board of International Investors Association, its members and stuff would like to congratulate Mr. Tamaz Shavadze upon such a significant position and wish him success in personal and public affair.

Please check digest No 42...

On October 30 of current year was held meeting between International Investors Association and delegation of commerce – industrial chamber from Bursa of Turkish Republic in association office. The deputy Cezmi Aksahin and general secretary of Association Tamaz Shavadze introduced Association’s activity, existing investment environment in the region and ongoing trends. The head of delegation Hasan Baydin noted that he used to be in Adjara in 2004 and is impressed with the changes that have been implemented since then. “The fact that International Investors Association exists in Adjara and successfully operates is very essential factor to me. The unions of investors or businessmen is very important indicator for new phase of business development” – declared visitor. Delegation was invited by Batumi city Hall. They had meetings with Minister of Finance and Economy of Adjara Vazha Bolkvadze and Mayor of Batumi Robert Chkhaidze. The members of commerce-industrial chamber of Bursa are very interested in potential of Energy sector and construction of trade centers.