Three Armenian companies to operate in free industrial zone in Georgian Poti

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Economy

08.09.2010, 03:25

Three Armenian companies to operate in free industrial zone in Georgian Poti

YEREVAN, September 7, /ARKA/. Three Armenian companies will be operating in Free Industrial Zone (FIZ) located near Georgia’s Black Sea port of Poti, Shalva Beraya, head of RAKIA Georgia company’s business analysis department said in an interview with ARKA news agency.

He said Two of these companies deal with commerce and the third has just been registered. The official opening of the FIZ is scheduled for late September. It occupies an area of 300 hectares, 250 of which are rented areas and the remaining 50 hectares are used by infrastructures. The annual cost of lease for commercial companies is $8-12 for a square meter and $6 for manufacturing companies.

Shalva Beraya said 22 companies have been registered, including 9 Georgian and 13 foreign companies from Armenia, Iran, Turkey, Ukraine, USA and Czech republic.

‘The registered companies will be exempted from some taxes, including import and property taxes, a 15% income tax and VAT,’ he said.

In 2008 April RAK Investment Authority (RAKIA) from the United Arab Emirates entered a 49-year concessional agreement to develop the first free industrial zone in the South Caucasus. -0-

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