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Monthly Archives: February 2017

Dutch-Georgian startup launches innovative agriculture app Traktor

Article by Maarten de Boer The country of Georgia is developing fast. With many young and creative English-speaking people, a friendly business climate and a favorable tax system, the country is gaining increasing attention of investors and sees a remarkable growth in the number of startups. However, the majority of the …

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Collection of Georgian Designer, Mariam Gvasalia on Sale in Venice

After the interest of journalists and potential clients Mariam Gvasalia received at Tbilisi Fashion Week, supported by the Ministry of Economy and Sustainable Development Entrepreneurship Agency, designer decided to sell her collection in Italy. Representatives of International Fashion Industry became interested in Georgian textile production after attending the fashion show …

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New York Skyscraper Under Construction in Tbilisi

New York Skyscraper Under Construction in Tbilisi

The first New York skyscraper is being built in Tbilisi. The project is implemented by the International Investment Group Quadrum Global, which operates in the local market under BD PROPERTY name and owns East Point shopping and entertainment center. The company representative says that a residential  house is located on …

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2.5M Euros Allocated for IAP Project

2.5M Euros Allocated for IAP Project

Montenegro has received a 2.5 million euro grant for the preparation of project documentation of the Ionian Adriatic Pipeline (IAP) from the Western Balkans Investment Framework (WBIF), said the country’s economy minister Dragica Sekulic, according to the message posted on the website of Montenegrin government. The grant will finance the …

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SOCAR: we Hope, Investments Made by us Will Reflect on the Rate

SOCAR: we Hope, Investments Made by us Will Reflect on the Rate

SOCAR Georgia Gas hopes that tariff review process will not prolonged by Georgian National Energy and Water Supply Regulatory Commission. Azer Mamedov, general director of  the company told the reporters that the company is demanding  revising tariff of the distribution segment, while he did not specify whether the gas tariff …

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EU4Business-EBRD Credit Line to Support free trade with the EU in Georgia

The EU4Business-EBRD credit line has provided several workshops for Georgian entrepreneurs, including nut farmers, wine exporters and meat processors, to explain how to use financing from the EBRD and EU for purchasing relevant equipment, modernising production and improving their services. “The grant component provided by the EU under the credit …

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Southern Gas Corridor Important for Europe’s Energy Security

The Southern Gas Corridor project has strategic importance for the energy security of Europe, said Maros Sefcovic, European Commission vice-president for Energy Union, Feb. 23. He was addressing the Southern Gas Corridor (SGC) Advisory Council Third Ministerial Meeting in Baku. Sefcovic said the progress in the Southern Gas Corridor’s construction …

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Fuel Price Not Expected to Fall Below 2 GEL

Company SOCAR is not expecting fuel price to fall below 2 GEL. According to the general director of SOCAR Petroleum Georgia, Levan Giorgadze, they had to increase the price with 20 tetri only because of excise component growth. Giorgadze said that considering Gel exchange rate and international market trend, decreasing …

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Investors Want to Build Wind Power Plants in Zestaponi

Investors Want to Build Wind Power Plants in Zestaponi

Who will build wind power plant in Zestaponi, should be named on February 27. According to Energy Development Fund, three investors expressed desire to build the power plant. Their tender proposals are being discussed. A contract will be signed with the winner on March 6. Feasibility studies are already carried …

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We will Make Focus on New Energy Sources in 2017

BGEO Group plans to make focus on wind power generation in Georgia. BGEO Group director general Irakli Gilauri told BusinessContract. BGEO will make accents on energy projects, including the group is interested in wind power potential and feasibility studies will be carried out to this end. “This year we will …

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