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Monthly Archives: November 2016

VELLINO: New Brand Comes to Georgian Wine Market

VELLINO is a new Georgian wine brand, which appeared in October in Georgia. At this stage the company offers Saperavi 2015, however from 2017 production of other wine varieties is planned. Founder of the company is financial officer who heads this business by himself. “I always wanted to create something with my hands …

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Hilton Tbilisi Hotel Opens in the Former Building of Agriculture Ministry

A relevant contract has been signed today between the Hilton Corporation and Granat company. The signing ceremony was attended by First Deputy Prime Minister, Minister of Economy and Sustainable Development Dimtri Kumsishvili. As reported, Latvian Investment Group Granat Investment has bought the hotel project carried out by the Georgian Property …

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IMF Does Not Approve Launch of Estonian Model in Georgia

IMF Does Not Approve Launch of Estonian Model in Georgia

IMF does not approve government’s decision to launch Estonian Model in order to attract investments. Francois Painchaud, resident representative of IMF in Georgia noted, while submitting regional report that the income tax reform would increase the budget deficit and as of their prediction, it should be 6% by the next …

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Preparation of Detailed Project on Chumateleti-Khevi Highway Begins

Preparation of Detailed Project on Chumateleti-Khevi Highway Begins

Road Department begins preparation of detailed project on Chumateleti-Khevi highway. Financial proposals, submitted for preparation of detailed project on Chumateleti-Khevi highway E60, are opened at this stage. It should be noted, that 12-km road section is a part of Chumateleti-Argveti highway (Rikoti Pass) and is one of the most difficult …

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TBC Bank to Expand Its Loan Books

TBC Bank focuses on annually expanding its loan book by, approximately, 15-20 percent. Impressively, the bank purchased businesses from the Societe Generale, the JSC Progress Bank and Georgian insurance firm Kopenbur. Moreover, it bought the JSC Bank Republic from SocGen and the European Bank for Reconstruction and Development (EBRD) for …

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Japan External Trade Organization (JETRO) Visits Georgia

JETRO delegation, invited by the Georgian National Investment Agency (GNIA), will pay a visit to Georgia. In the frame of the 3-day visit, the Japanese delegation will conduct business meetings with the government officials and private sector representatives. Special presentations about Georgia’s investment climate will be arranged for the delegates …

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Rail Freight Turnover Declined by 17 Percent in Georgian Corridor

Rail Freight Turnover Declined by 17 Percent in Georgian Corridor

“Georgian Railway” has announced on transportation of 8, 92 mln t freight through 9 months. Fright turnover is diminished by 16, 9% y-o-y. According to the biggest shipping company, local fright of 1,548 mln t has been transported through January-September, while 708 555 t has been exporting cargo, 1, 96 …

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“Turkmenistan Airlines” Changed Mind to Enter Georgian Market

“Turkmenistan Airlines” Changed Mind to Enter Georgian Market

“Turkmenistan Airlines” will not perform scheduled flight Tbilisi – Ashgabat today. The air company refrains from entering Georgian market at this stage. “Turkmenistan Airlines” planned to fulfill flights three times in a week. According to Guram Jalagonia, director of Civil Aviation Agency, the air company had prospects related to the …

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Blackmont Offers Cheap Credit Resource to the Partnership Fund

Blackmont Offers Cheap Credit Resource to the Partnership Fund

David Saganelidze, executive director of Partnership Fund, has hosted representatives of American investment company Blackmont in the Fund. Blackmont offers assistance to the Partnership Fund to find cheap and long-term credit resource for infrastructural and commercial projects. On its part, management of the Fund has introduced members of the delegation …

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GREEN HORIZON to Invest in Farm Construction and Dairy Products Manufacturing

Israeli company Green Horizon has visited Partnership Fund. Green Horizon plans to make investments in construction of cattle-breeding complex and dairy products manufacturing in Georgia. Green Horizon successfully operates in Israel and various countries of the world. The company has huge experience in cattle-breeding field in terms of genetics improvement …

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