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Daily Archives: June 19, 2018

Government Returns 45 million GEL of Property to Owners

The government of Georgia has given back property worth 45 million GEL to their owners. These properties were expropriated by the previous regime, Thea Tsulukiani, nominee for the Justice Minister’s position, said at the Parliament’s committee hearing on June 18. “Sometimes they joke that only vehicles were returned. We have …

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Georgia’s Energy Sector Challenges

Electric power is a product without which life would be unthinkable: some amount of electric power is needed for any critical, research or entertainment infrastructure, manufacturing facilities, medical equipment, public transportation, home appliances… The blackouts and permanent power cuts of the 1990-s are long gone and we have easily forgotten …

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Recent Changes to the Georgian Tax Code

TBC Bank Group announced that the recent amendment to the Georgian Tax Code in relation to corporate income tax will have an immediate impact on its deferred tax liability. The amendment, which comes begins on 12 June 2018, postpones tax relief for re-invested profit from January 1, 2019 to January …

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Regus to Open New Office in Georgia at Business Center BCV

Regus, the world’s office service provider, successfully assesses the first year of operation  and opens a new business center. After Tabidze 1, the Regus business center will be located on Vazha Pshavela, at BCV. Regional Manager of the company, Rusudan Chakvetadze, speaks about Regus local market development at Property Georgia. …

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Travel Time from Turkey to Azerbaijan Will Half

The travel time from the Red Bridge checkpoint at the Georgian-Azerbaijani border to the Sarpi checkpoint at the Georgian-Turkish border will be reduced to four hours, said the Head of the Road Department at the Ministry of Regional Development and Infrastructure, Irakli Karseladze. Large-scale infrastructure projects have been planned for …

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Gross Domestic Product of Georgia I quarter, 2018

GDP Geo

In Q1 2018 the real growth rate of Gross Domestic Product (GDP) amounted to 5.3 percent year-on-year, while the GDP deflator increased by 4.3 percent. The nominal GDP totaled GEL 9 150.2 million. Real growth was registered in the following activities: Real Estate, Renting and Business activities (13.4 percent), Other …

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Rikoti Pass Project Postponed to 2022

The Rikoti Pass project’s implementation has been postponed to 2022, Maia Tskitishvili, the nominee for the position of Minister of Infrastructure noted during her speech before the Parliament. The project deadlines have been revised by several years, she added. “The Rikoti project will be implemented in four lots. The Rikoti …

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SALIO to Hold Concert at The Biltmore Hotel Tbilisi’s Azura

The Biltmore Hotel Tbilisi‘s newly opened Azura bar will host SALIO‘s concert on June 29th. Event is organized by MBN and The Biltmore Hotel Tbilisi and will start at 08:00 pm. The garden and bar “Azura” is located in “Biltmore Tbilisi” and it is just in one step from the Biltmore …

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Education Ministry to Authorize Universities only with High Academic Standards

Mikheil Chkhenkeli

“We have an ambition to develop a world-class higher education system at Georgian universities. Universities only with high academic standards will receive authorization,” acting Minister of Education, Mikheil Chkhenkeli, said. This year, 26 universities will have their quality standards confirmed. Besides Georgian specialists, European experts have also engaged in the …

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