Ministry of Economic Development Makes Scandalous Acknowledgement

Ministry of Economic Development makes scandalous acknowledgement. Deputy Minister Irakli Gachechiladze confessed in his exclusive interview with Radio “Commersant” that contract with Egyptian Company “Fresh Electronics” on the construction of free industrial zone in Kutaisi is not signed yet.

However, on April 3 Ministry of Economic Development claimed the opposite. On April 6 the project of free zone was presented in Kutaisi and the President of Georgia made the statement on the presentation. Mikheil Saakashvili mentioned this fact in his interviews with Georgian and foreign media sources; however, today we found out that even a contract is not signed with this company that means a show was organized in Kutaisi. Gachechiladze insists that Egyptian company expressed initial interest only. “We have not reached agreement yet. Financial details will be clarified during the negotiations. Now it is their time to decide; the result of the negotiations depend on financial guarantees and action plan which will be provided by the company,” said Gachechiladze.

Radio “Commersant” and Georgian Commersant have been searching the information about the Egyptian company for the last one week. We found out that annual income of the Fresh Electronics is only 89 million USD and it is not on the list of huge Egyptian Companies.  

One more detail that attracted the interest of the Radio Commersant is about Mikheil Tigishvili, Georgian partner of the Egyptian company. Irakli Gachechiladze confessed that the business activities of Tigishvili are not known to the ministry yet. “It is up to Egyptian businessmen who will be their partner in Georgia,” said Gachechiladze.

Source: Commersanti