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Daily Archives: November 30, 2015

India Produces a Large Portion of High-Quality Generic Drugs Globally

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The Ministry of Health has announced its intention to increase the share of generic drugs on the Georgian pharmaceutical market in order to lower the existing prices and regulate the competition. What are generic drugs and what differentiates them from brand drugs? Are generics reliable? The Georgian society’s knowledge regarding …

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Georgia to Set State Control over Oil Products in 2016

Georgia to Set State Control over Oil Products in 2016

From next year, the quality of the oil will be controlled by the state as at the moment no office carries out   fuel quality control and the product testing depends on the goodwill of the business. Starting 2016, a department established within the Environmental Supervision Service under the Ministry of Environment …

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Turkish Brands Excluded from Russian Market

Turkish Brands Excluded from Russian Market

November 28, Russian President Vladimir Putin signed a decree Russian President Vladimir Putin has signed a decree “On measures to ensure Russian national security and to protect Russian citizens from criminal and other unlawful actions and the application of special economic measures with respect to the Turkish Republic,” the Kremlin …

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Newly-Opened Pharmaceutical Company Ynnovas will Export 90% of its Drugs

Ynnovas

The newly opened pharmaceutical company Ynnovas represents a project funded within the state’s Produce in Georgia program. The project’s total investment amounted to 4 million 500 thousand dollars, according to Ynnovas’ head David Ebralidze. Innova’s pharmaceutical plant is already operating in a testing mode, Ebralidze told CBW. The plant will …

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State Agricultural Support Program will Continue Next Year As Well

agriculture

The Three-year State Agricultural Support project was supposed to end this year, according to the initial plan. However, the government has decided to continue funding the program. Prime Minister said the state would continue to support entrepreneurship by of agro-credit and agro-insurance programs. In the words of Irakli Garibashvili, 139 new …

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National Tourism Administration’s Budget will Increase by 6 m

National Tourism Administration's Budget will Increase by 6 m

The National Tourism Administration’s budget for next year will increase by 6 million lari and will constitute 22 million lari. The Economy Minister Dimitri Kumsishvili said after a Cabinet meeting. “I would like to point out that all infrastructure and business support projects are continuing and expanding. The funds allocated …

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TBC Capital: Investment Opportunities in Georgian Energy Sector

TBC capital

Georgia’s energy sector is one of the country’s most attractive investment opportunities. Hydropower is the cheapest source of renewable power for Georgia and we strongly believe the sector will continue to be attractive for investors over the mid-term. The investment story is rooted in Georgia’s massive untapped hydropower potential: current …

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Zviad Gogochuri Wins Gold at European Judo Championship 2015

Zviad Gogochuri

A blind Georgia judoka has triumphed at a prestigious European judo tournament for visually impaired athletes. Zviad Gogochuri won gold at the International Blind Sport Federation (IBSA) European Judo Championship 2015, held on 27 November in Odivelas, Portugal. Gogochuri defeated tournament favourites in the 90kg category and was crowned European …

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Georgia Exports 200 Tonnes of Mandarins to Ukraine

Citrus in Georgia

Ten trucks loaded with 200 tonnes of mandarins are on their way from Georgia to Ukraine. The orange harvest is in full swing in Georgia and the country has started to sell locally grown citrus fruit all throughout Georgia and in foreign markets. Georgia’s Agriculture Minister Otar Danelia said the …

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Georgian Development Bank To Launch Operation in Spring 2016

Sketch by Giorgi Magradze/ Caucasus Business Week

After long considerations, thoughts and experiments, the Georgian government has taken a final decision on establishing the Georgian Development Bank on basis of the Partnership Fund. Organizational works are underway and the Georgian Development Bank will launch operation in spring 2016 with focus on financing business projects. The Bank or …

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