On May 11 of the current year, by the initiative of the Ministry of Economy and Sustainable Development and National Investment Agency of Georgia, National Business Award “Mercury” 2011was held in Georgia. The aim of the award establishment is to promote and encourage Georgian business. It is committed to promoting the local business community's new initiatives, innovative solutions,expansion their scope of activities and development.The National Business Award “mercury” 2011 combines both the small and medium-sized and large businesses. BTM Textile- a member company of International Investors Association of Georgia got prize in the nomination “Made in Georgia”. We congratulate the head of the company Mr. Mehmet Efendioglu and wish him success and further prosperity.

Please check digest No 67

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On April 30 of the current year, in Batumi “Sheraton Palace”, International Investors Association took part in Business Forum. The meeting was attended by the Chairman of the Parliament of Georgia Mr.Davit Baqradze, the Chairman of the Government of Adjara A.R. Mr. Levan Varshalomidze, Business Ombudsman of Georgia Mr. Giorgi Pertaia and other officials and organizations. The main theme of the meeting was an introduction of private audit system. Changes concerning private auditors to be made in the Tax Code will be ready in the next few weeks. After Tax Code changes, an entrepreneur will decide himself whether to be examined by the Revenue Service or by an accredited private auditor. If business chooses the auditor, Revenue Service will recognize the conclusion and will not re-examine. In order to advance Tax Code, International Investors Association of Georgia continues active cooperation with the Business Ombudsman of Georgia and other government officials.

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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.

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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