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Monthly Archives: January 2018

Georgian Doors Producer Brand Megadoors Enters the Market

The first Vice-Premier, Minister of Economy and Sustainable Development Dimitri Kumsishvili opened an enterprise financed within the program “Enterprise Georgia”. LTD”Otsneba”, which was only engaged in the realization and import of building and repair materials, built a wooden and metal door enterprise with the support of the program “Enterprise Georgia” …

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Global Energy Solutions starts its next project for BP Azerbaijan

Global Energy Solutions (Glensol) entered into next project for BP Azerbaijan to provide electrical & instrumentation services in the Azerbaijan-Georgia-Turkey (AGT) region. Glensol’s services will cover Sangachal Terminal, BTC and WREP oil export pipelines onshore and 7 BP platforms offshore. The project scope includes execution, service, installation, commissioning, modification and …

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Telavi Wine Cellar to Grow a Vineyard by New Technology

Company “Telavi Wine Cellar” will grow vineyards on 35 hectares in the micro-zone of Napareuli in Kakheti. The founder of Company Zurab Ramazashvili shared details with Bm.ge. “This is a historically well-known micro zone where we receive a very good quality wine, white and red, we will do this with …

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The Georgian Wine Development Strategy Pepared

With the support of the German government, the Georgian wine development strategy was prepared in the National Wine Agency. The document was prepared with the support of integrated expert of Center for International Migration and Development (CIM) of German International Cooperation (GIZ) – Berthold Zaitz, who was the advisor of …

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Silknet to Purchase Geocell

Silknet is planning to purchase Geocell. As a result of the largest agreement in the history of Georgia, a full spectrum telecommunications company is being established, which connects Silknet Internet, cable television and fixed telephone service with Geocell mobile services. The integration of telecommunication market leader companies provides a wider …

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Current Condition of Commercial Banks Loan Portfolio

Commercial Banks Earn 114.9mln GEL from Currency Exchange Operations in 1H17

The volume of lending by commercial banks (including loans to non-residents; excluding Credo Bank) in December 2017 increased by 133.7 million GEL or by 0.6 percent compared to the previous month (exchange rate effect excluded volume of lending increased by 3.5 percent) and constituted 21.7 billion GEL by January 1, …

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Real Estate Price has Decreased on Pekini Avenue

The price of real estate on Pekini Avenue has decreased, and the owners of shops located there complain about the reduction of realization. The lease price of commercial real estate on Pekini Avenue in 2017  decreased by 9% compared to the previous year, while the vacancy of the premisesby 7%. …

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34 Percent of Deposits are in National Currency

The total volume of non-bank deposits in the country’s banking sector decreased by 0.7 percent (exchange rate effect excluded volume of deposits increased by 2.5 percent), or by 141.5 million GEL, compared to December 1, 2017 and constituted 19.8 billion GEL by January 1, 2018. In December, the volume of …

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Business Ombudsman’s Office to Participate in Operation of State Procurement Disputes Discussion Board

Georgian Business Ombudsman’s office will also engage in discussions of disputes arisen during electronic tenders and competitions. Corresponding changes were made to the Law on State Procurement, which has been already published in Legislative Herald. Amendments regulate procedures of staffing Disputes Discussion Board of State Procurement. A representative of the …

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