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Monthly Archives: June 2014

GOODWILL May Be Transformed into a JSC

The court did not confirm suit of PKF and respectively previous verdict on its avoidance remains valid. Company director and 6 creditors, among them was not secured creditor TBC Bank, required removal of PKF from the rehabilitation management. The management informs that rehabilitation will be provided in accordance to the plan …

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GEORGIA RANKS 7TH IN 2014 A.T. KEARNEY GLOBAL RETAIL DEVELOPMENT INDEX RANKING

A.T. Kearney’s company puiblished the Global Retail Development Index™ (GRDI). The company notes that global retailers  have become more strategic in their expansion and in avoiding the operational pitfalls of entries into developing markets. Using e-commerce, they are pressure-testing demand in new markets to reduce risk, and they are taking …

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Textile Manufacturing Increased in Georgia due to World Cup

Textile Manufacturing Increased in Georgia due to Football World Cup

Ajara Textile has increased production due to the Football World Cup. Financial Director of the factory explains that Puma, one of a major partners, ordered 500 thousand pieces of sports uniform per one month for the football championship. Gia Lominadze notes that a Memorandum was signed with the most famous brand Nike, but Adjara Textile is expected to …

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Businessman Levan Vasadze Against “Excessive Door -opening”

As you know, the Constitutional Court invalidated the Moratorium on land sales to foreign nationals. How legitimate was the decision? Under current law, the Constitutional Court had the right to take such a decision. Moratorium itself was more like trying to patch holes in the ship, which had sprung a …

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The Association Agreement Signed

Georgia has signed the Association deal with the EU. The 1,135 page document has been signed by Georgia’s PM Irakli Gharibashvili, President of the EU Commission  Jose Manuel Barroso and President of the EU Council Herman Van Rompuy. The Association Agreement between the EU and Georgia will be signed by each …

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What happens after Georgia Signs the Association Agreement with Europe?

What is the significance of the Association Agreement and what  benefits will it bring  to Georgia? The prospect of concluding a Deep and Comprehensive Free Trade Agreement (DCFTA) between Georgia and the EU gave fresh impetus to the process of enacting reforms in trade-related spheres. The DCFTA will be one of the …

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Director of Georgian National Tourism Agency Acquainted Ukrainian “Forbes” with Advantages of Georgian Tourism

Number of Ukrainian tourists visited Georgia in January-May 2014 increased by 27% compared with the same period in 2013  and amounted to  48.8 thousand people. Director  of Georgian National Tourism Administration George Sigua assures that “Ukrainians in Georgia will feel like home” in his interview with the Ukrainian “Forbes”. He adds that in the …

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Georgia to Sign Association Agreement with EU Today

Georgia will sign the Association Agreement with the EU today. Georgian Prime Minister Irakli Garibashvili, President of the Commission of Europe Jose Manuel Barroso and President of the EU Council Herman Van Rompuy will sign the Agreement. The signing ceremony will be held in Brussels at 9 AM local time, 11 …

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Winemaking Waste could Become Fuel Starter in Georgia

In Georgia, winemaking waste could serve as a good starting point for environmentally friendly fuel production. Swedish company “Scania”, one of the world’s leading manufacturers of heavy trucks and buses, isdeveloping a new direction of business, whichincludes environmentally clean fuel production. According to the Ministry of Economy, “Scania” plans to open a sales and service center in Georgia in the near future. …

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Businessman Gogi Topadze Launches Cooking Oil, Milk and Soap Business

Kazbegi company  has started working on the business plan of cooking oil, soap and milk processing enterprises within the preferential agro-credit project.  The MP and a founder of the company Gogi Topadze told commersant.ge. According to him, it will be a complex which is planned to be constructed in Kakheti region. …

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What Harm did Moratorium on the Purchase of Agricultural Land by Foreign Nationals Inflict on Georgian Economy?

According to the non-governmental organization “Transparency International”, the Constitutional Court of Georgia considered unconstitutional the Parliament’s decision to ban the sale of agricultural land. Basis for the judgment was NGO’s lawsuit over Parliament’s decision that violates the rights of individuals and thefreedom of entrepreneurial activity. “The court decided that the suspension of the right to alienatethe land, even temporarily (the moratorium was in effect until the beginning of 2015), does not correspond to the Constitution of Georgia and …

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