“Georgian International Investors Association” with International Financing Corporation is holding an exclusive seminar, which bases will be dedicated to “post – crisis” environment and business adaptation issues. The seminar will attend over 50 superiors of largest companies.

Seminar will be on March 18^th of current year at the central office of “TBC Bank” branch in Batumi, 37 Zubalashvili st.

Seminar will present the famous expert of Crain International Business Institute President Mr. Alexander Mertens.

Please see attached files:

Agenda

Atendent Form

Presentation

Evaluation Form

At the meeting, by management board were stated issues to be solved, which in future would help businessmen in working and will improve investment ambience. In government administration was created a working group, which will study problems of investors and will work on solving their problems on time. Mr. Levan Varshalomidze has stated that, it is important the existence of such as “International Investors Association” in Adjara. He also mentioned about liberal political position of Adjarian government, of which main principles are to be opened and transparent. He also talked about new investments and investment projects. The meeting attended, besides the management board head of International Affairs Department Mr. Irakli Goradze, head of  Investment Department Mr. Zaza Gumberidze and media representatives.

To Autonomous Republic of Adjara had a businesslike visit from representatives of World Bank Group IFC (International Finance Corporation) Mr. Philip Condon & Mr. Bakur Maisuradze. During visit in Adjara, they went to see some already going enterprises and had interesting business meetings with investors. IFC representatives also has paid a visit to International Investors Association and had an introducing and for further well relation type of a meeting with the Chairman of IIA Mr. Cemal Bilgingulluoglu.

On February 24^th of a current year at was held another session of Georgian International Investors Association Management Board.

On session were discussed issues, which are very important to be solved for investors. Due to general and personal problems was created a statement bill, to present to head of Government of Autonomous Republic of Adjara Mr. Levan Varshalomidze.

On February 14 of 2010 in International Investors Association head office was held meeting with Chinese investors, who represented company “Shyang Tseng Enterprise, Co” LTD.

The head of association Cemal Bilgingulluoglu, Cezmi Akshahin, the member of board of management Omer Ilknur, the assistant of head of the government and representatives of Ministry Of Finance and economy were presented at the meeting. There were presentations about Adjara, association and investment situation. The aim of Chinese investors 2 days visit was the construction of Shoe factory in Adjara.

On February 12^th of 2009 at 15:00 was held meeting of Board of Management, where have been discussed subjects, such as:

1. Information on produced work of 2009;

2. Working plans and directions for 2010;

3. Giving delegating responsibilities to members of management board;

4. Organize meeting with Chairman of Government Mr. L. Varshalomidze at the end of February; 

5. Excepting a new member – LTD “BAUER-GEORGIA”;

6. Results of negotiation with audit company;

7. Chinese investors visiting program in Batumi;

8. Organizing seminar with IFC at the end of March;

9. Information on budget and balance of 2009;

10. Other issues.

The meeting attended all members of management board, also a substitute member and trustee board chairman.

President Saakashvili made two opening ceremony  for  ‘’ICON GROUP’’  first was the modern agricultural investment of greenhouse which is  35.000 square metres  latest technology  tomato plantation  cost over 5  million USD EURO İT İS NOT İNCLUDİNG LAND İNVESTMENT . Chairman of company Mr. Cemal Bilgingulluoglu  said the company will invest  more in  nearest future for further expansion.

Second opening was the Turkish restaurant called “GRAND GRILL” made by the same group on Khimshiashvili str. offering 25 different kind of  kebabs. President was served the 2 meters kebab and he invited all  journalist to taste.

In Autonomous Republic of Adjara was created temporary regulatory committee, which will act according to the new “law upon actions Regulating Construction of local Importance”

Law
upon Actions Regulating Construction of Local Importance

In pursuant with the Law upon “Status of the Autonomous Republic of Adjara”, Constitutional Law of Georgia and Constitution of the Autonomous Republic of Adjara, Presented Law shall stipulate the actions regulating Construction of Local Importance necessary for complete implementation of the demands of Normative Acts being subject to Law.

The objectives of this law is on territory of Autonomous Republic of Adjara, by this law in defined transition period to support  regulating arrangements on local meaning construction

To create perfect, equal living and active environment conditions; development of territories and settlement by minimizing negative ascendance on economical and other activities, to use rationally territories and natural resources;

Create working and living conditions for settlement territories and get investments, region equal economical structure, infrastructural, social, ecological and cultural development;

For details please see attached file:

Georgia Government increases customs tax rates on imports
Parliament has approved some changes in Georgian tax code. By correcting custom taxes will be helping on local manufacturing. Although in12 percent taxation regime appeared on some products, which are not being produced in Georgia, for example, hygienic, building and construction goods. This taxation regime will affect on imported products from the countries with which Georgia does not have free trade contract. The largest part of imported products in Georgia comes from, Turkey, Ukraine and Azerbaijan, to which the Georgia has the free trade contract. Georgia does not have a free trade contract with Euro union. Therefore products imported from European Union will apply to new tax regime and will appear on increasing the prices. Tax code changes will also affected: for importing similar and same type of products;

On December 2nd of 2009, at the office of International Investors Association was held the election Chairman of Trustee Board. The election attended, Mr. Levan Shervashidze “Star-ar-ge”, Mr. Ilker Dindar “M&T company”, Mr. Roman Futkaradze “Turinvest”, Mr. Archil Bolqvadze “Promer engineering”. For Chairman was elected Mr. Levan Shervashidze “Star ar ge”LTD.