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Daily Archives: March 11, 2019

Geostat: FDI Inflows Shrank by 35% in 2018

According to preliminary information, the inflow of foreign direct investments (FDI) in 2018 made up 1 232.4 million USD, down 34.9% year on year. FDI inflows declined after completion of main gas pipeline construction works, after several companies moved to ownership of Georgian residents and liabilities to nonresidents direct investors …

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Georgian Company to Offer VAT Refunding Services to EU Nonresident Companies

Georgian company Taxhelp will offer VAT-refunding services to EU nonresident companies, namely, B2B services. The VAT will be refunded in the following cases: 1. Hotel, transport, restaurant costs during business trips.  2. Costs taken for participation in conferences, workshops, exhibitions (for example; refunding VAT existing in the price for participation …

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Business and Technology University Initiates Coding School For Women

Nino Enukidze

Business and Technology University has been working on the project aiming at creation of a coding school for women; the project will entail intensive the training course on Android Development mobile application. At the end of the project, women who successfully complete the six months course will be able to …

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Georgia’s Energy Sector Watch – Summary of Changes

Electricity is a capital-intensive sector with reasonable profits. Georgia’s investorfriendly regulations, upgraded transmission networks and export opportunities have attracted substantial investment in recent years. The energy sector was the secondlargest FDI recipient in 2007-17. The sector’s EBITDA margin averaged 19% in 2012-17, above the business sector’s level of 13%. Electricity …

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Korea, Georgia Sign Pact on Economic Cooperation

South Korea and Georgia signed an accord on promoting bilateral economic partnerships in the run-up to talks on an investment agreement. The pact was signed by Korean Vice Foreign Minister Lee Tae-ho, Genadi Arveladze, in Seoul. It paves the way for joint projects in various fields such as trade, tourism, …

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New Airport to be Constructed in Azerbaijan

Availability of airports in various parts of the country demonstrates the development of Azerbaijani regions and their popularity for tourism and business trips. Airports of Azerbaijan make an unforgettable impression on all tourists arriving to the Land of Fire, and smoothly serve millions of passengers, every day taking dozens of flights from many …

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Poland and Georgia Exchange Winemaking Experience

Last week, members of Georgia’s Keda Local Action Group and winemakers from the region participated in a study visit to Poland. The study tour was organised by Poland’s Malopolska Region’s self-government and aimed to exchange experiences and plan future cooperation between winemakers from Poland and Georgia. The participants visited wine …

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International Donor Organizations Should Involve Georgian Companies in Major Infrastructure Projects

The Caucasus Business Week (CBW) has inquired why Georgian companies fail to win infrastructural projects and whether they genuinely have low qualifications. “Placing focus on quality improvement and rejecting price as the only criterion can ensure a company’s growth and quality improvement”, Ana Sabakhtarashvili, director of Association of Infrastructure Developers, …

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Why Georgian Companies Lose Road Infrastructure Deals

The tendency over the past few years prove that Georgian road construction companies have been losing  road infrastructure deals, and key motorways are entrusted to foreign companies, while several years ago Georgian companies were participating in, winning and implementing major and important projects. However, starting in 2013, an intensified inflow …

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Anaklia City: We do not Consider Georgian Economic Zones as Competitors

In her interview with the Forbes Week with Giorgi Isakadze TV program, Keti Bochorishvili, executive director for Anaklia special economic zone, talked about advantages of Anaklia special economic zone. We consider the world’s leading economic zones as competitors, not Georgia-based economic zones, Bochorishvili noted. “Our objective is to attract international …

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