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Daily Archives: May 22, 2017

Trade Centre Metrocity Forum Opens in Batumi

Trade Centre Metrocity Forum is Opened in Batumi

Metro City Forum shopping mall has opened in the new boulevard of Batumi. The center is located on 16 000 square meter space within a two-floor building. The shopping mall will give a room to various well-known brands. The center is expected to employ about 500 citizens. Metro City Forum …

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Davitashvili Sees the Risk of Cannibalization by Selling the Land to Foreigners

Davitashvili Sees the Risk of Cannibalization by Selling the Land to Foreigners

Minister of Agriculture does not consider accurate direct alienation of agricultural lands without any liabilities for non-residents. Levan Davitashvili stated on more responsibilities linked to the issue, extortion consumption and high risk of resource cannibalization at the seminar in Kvareli. He drew attention to the expansion of market for agro …

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IMF: Partnership Fund is one of the Sources of Fiscal Risks

IMF: Partnership Fund is one of the Sources of Fiscal Risks

International Monetary Fund (IMF) names fiscal risks reasons. Francois Painchaud, resident representative of IMF in Georgia, noted that the so-called PPP projects may inspire a growth in fiscal risks. IMF also considers Partnership Fund of Georgia to be one of the inspiration factors for fiscal risks. “State debts started growing since …

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Mind Map -A New Concept for Keeping a Notebook

Few months ago, new startup of notebooks, Mind Map appeared on the market.  The idea of startup is to help people manage their time and making decisions. There is space for ideas, aims, wishes, music schedule, interests and etc. in the notebook. Three friends: Nina Gomarteli, Tako Lekiashvili and Ani …

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Batumi Multifunctional Residential and Hotel to Launch in 2018

31-floor Batumi Multifunctional Residential will be launched in 2018. Currently, construction of 15 floors is completed. 15 000 square meters will be used for residence and rest of the space will be occupied for the hotel. Half of the residence has already been sold out. At the same time, there …

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Turkey, Georgia to Mull Development of Economic Ties

Turkey and Georgia will discuss development of economic relations during the 2nd meeting of the High Level Strategic Cooperation Council between Turkey and Georgia, the Turkish Economy Ministry told Trend May 22. Prime Minister of Turkey Binali Yildirim will today arrive in Georgia on a two-day visit to participate in …

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First Georgian Olive Oil Trickles into the Market

First Georgian olive oil trickles into the market. The head of Georgian Olive Oil, Giorgi Svanidze declared that the production will be sold in Carrefour Supermarket network and in the future, in Agro Hub too.  Next year, the company is planning to sell production in almost all large supermarkets. During …

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Winemaker: High Customs Tax Was Hindering Wine Exports to China

“Previously, wine exports was impossible to China, in practice”, Paata Sharashenidze, founder of Usakhelauri Vineyards company, told Business Course. Georgian product was taxed by 58% in China and this tax was raising the product price. But now, after signature of Georgia-China free trade agreement, Georgian wine exports will enjoy tax-free …

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Georgian Designers Have Difficulties Exporting Products Due To High Taxes

sopho chkonia

An organizer of the Mercedes-Benz Fashionweek Tbilisi Sopho Chkonia says  that it is difficult for Georgian designers to export their products because of high customs duties. According to her, the industry needs more support from the state, in particular, changes in the tax legislation to facilitate to overcome international barriers …

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OIV to Include Qarvisferi Ghvino Into List of Special Wines

Wine bottlesWine bottles

 International Organization of Vine and Wine (OIV) has accepted Georgia’s proposal to include Qarvisferi Ghvino (Amber-colored Wine), made by traditional Georgian methods, in the list of special wines. OIV has positively accepted this proposal of Georgia party, Giorgi Samanishvili, head of National Wine Agency, said. “This decision is one more …

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