Investment Proposals

The Ministry of Finance and Economy of Autonomous Republic of Ajara offers the interested persons the privatization objects in order to develop tourism, infrastructure, agriculture, textile, industrial sectors in the region.

According to the mentioned links, the interested persons have a possibility to acquaint with the investment proposals in the various sectors.

http://mofea.ge/index.php?cont=19

1. The interested person may obtain the necessary information about the light industry field. The favorable factors for the industry development, investment field trends and the privatization objects are given.

See link:

http://mofea.ge/admin/upload/File/privat/industrial.pdf

2. The link gives us information about the field of agriculture

http://mofea.ge/admin/upload/File/privat/soflismeur.pdf

3. If the interested person wants to get acquainted with tourism, visit the link, where are presented the privatization objects. The special investment proposals are for the hotel constructions, shopping centers, the educational institutions and for the purpose of the rehabilitation centers.

http://mofea.ge/admin/upload/File/privat/turizm%20GEO.pdf

4. The interested person will be able to be informed in the textile sector and acquaint with the investment proposals in the field.

http://www.apparel.ge/upload/file/Apparel%20Investment%20Proposal%20(ppt).pdf

On May 28, 2012 the 4th ICC Regional Meeting (RCG) for Broader Middle East - North Africa (B-MENA) arranged by ICC-Georgia was held at the Radisson Blue Iveria Hote, in Tbilisi.

The meeting was attended by the representatives of 14 countries - the Chairmen and Secretary Generals of the following National Committees, as well as high ranking Executives from ICC Head Quarters in Paris and London.

The Prime Minister of Georgia, Nika Gilauri delivered a speech at the meeting.

The guests got acquainted with the attractive investment environment in Georgia.

Besides, it is important that International Investors Association of Georgia also attended the conference. The presentation about Ajara was made for the guests and the booklets were given to the participants.

Within the meeting, Georgian Chamber of Trade and Commerce signed cooperation agreements with three Arab states - Dubai, Kingdom of Bahrain and the Kingdom of Sharjah.

In near future, International Chamber  of Commerce plans to organize the conference in Istanbul, the International Investors Association will be involved in the event.

The Chairman of Ajara AR Government Levan Varshalomidze, along with the Minister of Education, Culture and Sport of Ajara Gia Abuladze has awarded 8 graduates of textile products specialty from the Vocational College Black Sea, who have already been employed at AJARA TEXTILE. 

„This is a good example of government and private agencies’ work together. We have taken responsibility to repair the building where the college is located, processed training programs based on market requirements while private investors facilitated their employment. Tailors needed 3-year training to master in the Soviet period. Now it is possible for several months only, that provides opportunity for employment in extremely short period of time”, said Levan Varshalomidze. 

Memorandum of Cooperation between Vocational College Black Sea and Ltd AJARA TEXTILE was signed in February 15, 2012. The college has taken responsibility to train 60 specialists of textile products within the short term program.

Out of 388 students at the college, 32 study on textile products specialty.

Izmir-Batumi Business Forum was held in Sheraton Batumi on may 3, 2012. The forum was organized by International Investors Association Georgia and Izmir Chamber of Commerce with the support of Ajara Government, Ministry of Finance and Economy, Department of Tourism and Ministry of Agriculture. The conference was attended by 90 company representative of Izmir Chamber of Commerce. 53 of them took part in B2B meetings. Georgian side was represented by approximately 50 company representative invited by IIA Georgia, Ministry of Finance and Economy, Department of Tourism and Ministry of Agricultur. The conference was opened with  Ajara A.R. Chairman - Mr. Levan Varshalomidze's speech. Turkish consulate in Batumi, Izmir Chamber of Commerce Chairman  and  Ajara Chamber of Commerce and Industry Chairman also delivered speeches. Videos depicting  Adjara and Batumi was shown at the forum. Batumi Investment Agency made a presentation. Investment and economic potential of Ajara were introduced to the guests. After the conference, bilateral meetings were held on the tables divided into 5 different sectors: Tourism, agriculture, Investors Association and the Chamber of Commerce, construction and free economic zone. The sides discussed issues of bilateral cooperation. The parties also agreed on the expansion of cooperation areas.

Please check digest No 114

"GPI Holding" became second owner of the Gold brand business nominations. Company was named as favorite brand of 2011. The seventh annual awards ceremony of the favorite brands was organized by the company- Global Idea and “The Financial” newspaper with support of Tbilisi City Hall, Chamber of Commerce and Industry of Georgia and American Chamber of Commerce. Ceremony was held in hotel "Radisson Blu Iveria". Golden Brand reveals and rewards those companies that have achieved particular success in the branding business. For your information: "GPI Holding" was founded in 2001 as the first private pension funding. Georgia. Company's priority is the development of social insurance. For the last couple of years GPI Holding maintains the leading position in pension and health insurance markets. "GPI Holding" is Europe’s one of the largest insurance company, "Vienna Insurance Group's subsidiary company. In Georgia", Vienna Insurance Group "consists of two companies -" GPI Holding "and" Irao ".

Please check digest No 113

On March 23, 2012, International Investors Association and International Chamber of Commerce held a conference about changes and latest updates in the tax system. Representatives of International Investors Association, International Chamber of Commerce and international auditing company discussed tax system changes and innovations introduced in the last few years, the tax law and taxation system in Georgia. After the presentation, meeting continued in question-answer format. Involved sides got detailed information for their questions from competent persons. The meeting focused on tax law, as well as on the services Department of Revenue is offering taxpayers, also how a foreign investor to be taxed, who will attract capital and invest in Georgia. Attention was paid to several issues Investors are interested in, such as alternative tax audit, private tax agent and district tax inspector. The conference was attended by representatives of the Ministry of Finance and Economy, who introduced the benefits of Batumi and Kobuleti touristic zone to Georgian and foreign businessmen.

Please check digest No 112

On March 22, 2012  Ajara A.R. Chamber of Commerce and Industry and the A.R. Finance and Economy Ministry jointly  organized  Business and Media Award Ceremony "AJARA BUSINESS AWARDS 2012" according to the results of the year 2011. The event was opened by the Minister of Finance and Economy of Ajara Mr. VajaBolkvadze. In addition President of the Ajara Chamber of Commerce and Industry TamaziShavadze  made a presentation regarding asspa -'s services, the Chamber's strategic plan and the ongoing reforms.According to the asspa’s nominations 17 company and 3 media representatives were awarded. Also 11 winner  company was revealed by the Ministry of Finance and Economics  nominations. The winner compnies were awarded with prizes.It should be marked that nominations revealed by organizations mentioned above were also won by our association, association member companies and employees. Among the winners are:

• LTD Ajara Textile- For introducing world brands to Georgia

• JSC Bank of Georgia- For successful banking business

• LTD STARARGE- For exploiting new export markets

• LTD BTM Textile- For investing in various sectors

• LTD BatumiTex- For creation of stable jobs

• International Investors Association - For lobbying the investors

• Nino Fatsia- As a female manager of the year ( GPI Holding)