Please check digest No 146

On November 14, 2012 in Batumi Sheraton Hotel was held the meeting among the Government of Georgia and the representatives of local large and medium businesses, as well as the foreign investors working in the region. International Investors Association of Georgia and its members also attended the conference.  The chairman of Ajara A.R Government Mr. Archil Khabadze, the Minister of Finance of Georgia Mr. Nodar Khaduri and the Minister of Ajara Finance and Economy Mr. Giorgi Tavartkiladze delivered welcoming speech. The investors were introduced economic policy of the new government, top priority of which is business integrity and its development to create the most comfortable conditions in the country. According to the Government representatives need to be restore a fair and competitive business-environment once and for all-where will be the Common Rule of the game and artificial monopolies will no longer exist. The discussion was as well as focused on simplification and the improvement of Georgian legislation. The businessmen were asked to be fair taxpayers and the government will be always committed to the business community. ,,I think that it was a timely and productive meeting as businessmen are the people who make up new jobs and wealth in the country. They also have problems with tax laws and administration as well as problems related to the fines. Decisions taken by the government will never be spontaneous.” – Nodar Khaduri said. „ We want to create a competitive environment, select the best projects and approve them. I also declare that none of the projects will be suspended” – said Archil Khabadze. The meeting was held in question-answer format. During the discussion several problematic issues were raised. The most problematic was the tax code. According to the businessmen Revenue Service and the entrepreneurs interpret the Code in different ways. The Minister of Finance of Georgia said that the activities to regulate the tax legislation are underway. It should be noted that at the meeting majority of foreign investors were Turkish businessmen. As it is known, the information about restriction of the activities of the Turkish investors operating in Georgia was reported. The businesspersons were interested in the mentioned issue. The government said that it is false and Republic of Turkey is and will be the country’s major economic partner. During the meeting, the issue of arrested entrepreneurs’ amnesty was conversed too. The Minister of Finance of Georgia promised to review all the concrete issues and asked the interested people to submit the official letter to the appropriate bodies. Gambling business-one of the actual issues was as well as discussed at the meeting. The businessmen requested to be informed in the closing casinos in Batumi, because they plan to add investment in the field in future. The Government representatives clarified that the study is underway and the decision related to the issue will be made after discussion, review and analysis. The Government is ready to ensure the freedom of the business in Georgia and defend its rights. The chairman of Ajara A.R Government promised to organize similar meetings in future.

On November 14, 2012 the meeting was held between the representatives of International Investors Association, Ajara Chamber of Commerce and Industry and Trabzon Chamber of Commerce and Industry. The presentation about the introduction of Ajara investment environment was held for the guests. The conversation between the sides was especially focused on furniture production field. The Turkish businessmen got interested in the local furniture production.

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On October 12 of the current year, the meeting was held between the investors association and its members. The representatives of the companies spoke about the new programs and initiatives, that the government`s new composition plans to present in the field of economy. The conversation was also focused on creation of better investment environmentand business development in the country. International Investors Association and member companies are ready to cooperate with the future government.

The candidate for PM promised the business representatives that the government will not interfere with business illegally. The coalition leader also warned the businesspersons to cut the prices, which are artificially risen.The meeting was held in question-answers format. On October 5, 2012 the meeting with the leader of the Georgian Dream coalition BidzinaIvanishvili and Georgian and foreign businessmen was held. The meeting was attended by the representatives of International Investors Association of Georgia, also by the representatives of small and medium business from Georgia as well as foreign countries. The candidate for prime-minister of Georgia discussed with them the programs and initiatives the government`s new composition intends to present in the field of economy. Mr. Ivanishvili answered questions of the business representatives, who mainly wanted to know whether bank rate will be reduced under the new government, what kind of economic policy it is going to run. According to him, it is discussed what the state is supposed to carry out in economic or legal terms in order to create an actual investment environment in Georgia and assist developing business, because this is the grounds for revival of economy and for fighting the big unfairness named unemployment.

Please check digest No 141