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.

Please check digest No 64

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