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Daily Archives: April 12, 2018

Finance Minister: Banking System should Drive Economy, not Destroy It

Minister of Finance Mamuka Bakhtadze has announced a new government initiative for shaping an alternative to expensive banking products. When talking about the new initiative, Minister of Finance Mamuka Bakhtadze said that the Georgian bank sector should drive Georgian economy, not destroy it. But we have different reality in the …

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Sofrecom Opens its New Branch in Georgia on April 13th

Sofrecom, a subsidiary of the Orange Group, inaugurated its new branch in Georgia and strengthened its presence in Georgia and the surrounding region. With its new branch in Georgia, the Sofrecom Group further strengthened its position in the digital transformation of telecom operators and governments. Sofrecom helps its customers keep one step ahead …

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Introduction of GMP and GDP Standards in the Pharmaceutical Market Begins

 Pharmaceutical companies will have to maintain European standards within the next few years. The Ministry of Health begins to implement GMP (Good Production Practice) and GDP (Good Distribution Practice) Standard to ensure quality of medicines produced and imported in the country. Additionally, the inspection of pharmaceutical enterprises and distribution networks …

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Janez Kopač: Consumers Should Not Fear Gas Market Reforms

The government of Georgia plans to launch natural gas market reforms and establish European standards in this sector. Janez Kopač, the director of the Energy Association, noted that the energy package will include details for socially vulnerable populations and for improving natural gas supply. The reforms will also ensure simple …

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Asian Development Bank Expects GDP Growth to 4.5% in Georgia

Asian Development Bank (ADB) expects Georgia’s GDP growth to mark 4.5% in 2018 and 4.7% in 2019. The 2018 growth will be lower compared to 2017, the ADB report reads. “Coming reforms in pension system and capital market will encourage investments and savings. Forecast worsening risk is related to expected …

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Robert Tronvec: Digital Transformation Changed Business Operation, Including in Georgia

Microsoft held its largest event of the year so far: “Explore Digital Transformation World.” Business leaders and IT department representatives participated in the digital evolution forum. Meetings held simultaneously were dedicated to such important topics as cloud technologies, digital transformation, innovative solutions for social network management and virtual chatboxes. “Digital …

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Two Georgian Movies Nominated at Beijing International Film Festival

The movies Scary Mother and Dede by the Georgian directors Ana Urushadze and Mariam Khachvani have been nominated at The Beijing International Film Festival. Last year, Georgian cinematographers won four out of 10 major prizes at the same festival. “Luka,” directed by Giorgi Barabadze, won the nomination for best feature movie. Lia …

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The Most Popular Flight Destinations from Georgia

According to passenger flow, the first place takes Istanbul. As for “United Airports of Georgia”, in the three months of 2018, 142 578 passengers took a flight to and back from Istanbul, which is 17% of total passengers. Moscow (125 596 passengers), Tehran (92 190 passengers), Kiev (70 926 passengers), Dubai …

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EU Remains Biggest Development Donor: €75.7 Billion in 2017

The European Union and its Member States continue to be the world’s leading provider of Official Development Assistance (ODA) with an overall amount of €75.7 billion in 2017, as confirmed by the newly released figures by the OECD-DAC. This amount represents 0.50% of EU Gross National Income (GNI) and is …

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