Economics Ministry not Sees any Legal Basis for Review of Contract with Chinese Company Economic Minister: President has given major benefits to the investor
 
News ArchiveMarch 29, 2013

Economic Ministry has first announced in a conversation with "Commersant" that there are no legal resources for a review of the agreement with the Chinese company engaged in the construction of the “Olympic Village". Giorgi Kvirikashvili confirms that President has given major benefits to an investor and without legal reasons it will be difficult to change or cancel the contract with the company.

However, the Minister says that the company has investment commitments and the ministry conducts an active monitoring. Kvirikshvili explains, within the project the local population should make 70% of the employed people.

 

"Hualing International" is building the “Olympic Village” in the area of the Tbilisi Sea and according to the government, 126 thousand Chinese settlement was planned to be located there. However, the company denies this information.

Source: www.commersant.ge