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Daily Archives: November 13, 2017

Mamuka Bakhtadze: The Main Focus Will be less Bureaucracy

Mamuka Bakhtadze: The Main Focus Will be less Bureaucracy

Mamuka Bakhtadze, candidate of the Minister of Finance promises to have active communication with the business. Former Director of Georgian Railway considers portfolio of the Minster as a great responsibility. He declared that the main focus will be less bureaucracy. “Basic parameters of the budget as well as future expenditures …

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Bank of Georgia Received Another Award of Global Finance

Bank of Georgia Received Another Award of Global Finance

Bank of Georgia announced another award of Global Finance in the Best Personal Banking Service in Georgia 2018”. The international edition reveals the leaders of this nomination for the third time. “The award confirms highest standards of services offered by Bank of Georgia to the clients in the management of …

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Foreign Trade Turnover Increases

Foreign trade turnover in Georgia in January-October amounted 8566.3 million US dollar (undeclared trade) which is 12.7 percent more than the same period of the previous year. According to GeoStat, export amounts – 2203.1 million USD (29.4% more), as for import – 6363.3 million USD (7.8% more) The negative trade …

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HeidelbergCement Sells 50% of Its Business in Georgia

HeidelbergCement company has sold a 50% stake in its business in Georgia to Cement Invest. The latter is owned by Co-Investment Fund and Hunnewell Partners. The deal amount marked 115mln EUR. The company press-release reads that the deal is to write off the debt of HeidelbergCement. The company hopes for …

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1.5 billion USD Investment in Petrochemical Conglomerate of Supsa

New Energy Hub Attracting Global Investors Construction of an oil-petrochemical complex worth 1.5 billion USD will begin in Supsa, Georgia, in 2018. This global project will be undertaken by the GEOPARS Company. The Government of Georgia has already allocated 200 hectares of the land to the company under the 1,5 …

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Georgia Made Corn Oil to Enter the Market from February

In February 2018, Georgia made corn oil will appear on the market. The oil produced in the framework of the joint project of “Kolkha” Ltd and the Partnership Fund will be sold under the name “Karva”. Giorgi Bukia, director of the company “Kolkha” stated  with “Commersant” that the factory has …

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Renewable Energy Can Save Unique Colchis Forests

Renewable energy reduces tree cutting, saves forests and improves rural livelihoods. These and other findings were revealed by a pilot initiative which tested the use of firewood alternatives and energy efficiency measures in the villages located in a buffer zone of Machakhela National Park. The initiative was undertaken in 2016-2017 …

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