“AFBA” publishes semi-annual results of monitoring business-environment

13.11.2013 | Read 1162 times



“AFBA” publishes semi-annual results of monitoring business-environment

 \"The Association of Young Financiers and Businessmen – AFBA” continues monitoring facts of business and businessmen oppression.

Until now, the organization studied the issue concerning \"Concrete Factory” and seizure of \"Barambo’s” and \"Zedazeni’s” properties, which was discussed in details on briefing held at for.ge-s press club, November 13th.

 

 

 As of \"Concrete Factory” case, it is clear that we are dealing, in fact, with the precedent revision of privatization’s results. On the basis of obtained video and other types of materials, it is revealed that government was widely advertising the inclusion of \"Concrete Factory” into the list of private enterprises and offering the this opportunity to the investors, which practically excludes the fact of secret deals. According to research, during the privatization of this factory government, specifically \"Factory Management Agency” took out immovable property worth 3.5 million GEL on 26th of July, 2010, and after one week, on 3rd of August, 2010, invested 8 million GEL in the capital of this same factory. As a result, the capital for factory increased with more than 3 million GEL and exactly after purchasing with the increased price it was handed over to the new owner, specifically business group of businessman Tsezar Chocheli, which is today confronted from the government on the basis of governmental property’s cheap purchase and money laundering.

 

 

 It is completely incomprehensible, where do governmental authorities see the fact of money laundering and secret deal especially when government officially promotes and puts the factory on the market for privatization and a certain business-group purchases it publicly and transparently, carries out additional investment and starts the operations, which is, in fact, the fulfillment of governmental contract.

 

 

 It is to be noted, that on the basis of ongoing case, \"Concrete Factory” is practically not functioning.

 

 Furthermore, as \"Concrete Factory” is the founder of companies \"Zedazeni” and \"Barambo”, as a result of the dispute, property of these two companies are also seized.

 

 

 The seizure of the property does not directly affect the operating functions, but it is clear to anybody with even minimal knowledge of business that any kind of restriction, fore mostly the seizure of property, directly interferes with the business development, for during such times, the barriers arise with the contractors, suppliers, banking sector and investors themselves. In this specific case it has to be noted, that despite the decrease of economic development and increase of unemployment, \"Zedazeni” and \"Barambo” are those two factories that still maintain a pace of growth and provide work place up to 4000 workers.

 

 

 

It is also notable, that issues and lawsuits concerning the case are maximally stretched in time, which increases the risk of delaying, and ultimately stopping the business.

 

 

 One of the latest facts, postponing of court hearing of the \"Concrete Factory” case on the basis of necessary tax audit in the company proves above stated. – If there has not been tax audits in the company before, then on what basis are the accusations presented?!

 

 

 \"The Association of Young Financiers and Businessmen – AFBA” considers that government should treat such cases with extreme caution, for they may abuse the interests of active businesses. Such cases must not leave gaps for questions and impression of selective justice. It is unknown why is the ongoing dispute concerning \"Concrete Factory” the only precedent, when the results of privatization during new government are being reviewed. \"AFBA” considers that if reviewing the privatization is a governmental policy, then it has to include all such fact, without exclusion. Otherwise, this tendency will be deprived of justice and leave an impression of subjective approach to the case.

 

 

 

 \"The Association of Young Financiers and Businessmen – AFBA” continues the monitoring of business and businessmen oppression. Our scope concerns the case of wagon repair factory too, where similar problem of \"Concrete Factory” precedency arises.

It is to be noted, that in both cases, the issues are concerning governmental factory \"Georgian Railway”, which was and will be using the products and services of both, \"Concrete Factory” and wagon repair factory.

 

 

 \"AFBA” will periodically inform the interested public with results of on-going research.