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There is a Shortage of Hotels in Georgia

There is a Shortage of Hotels in Georgia

An interview with Director of the National Tourism Administration George Sigua. Tourist season was officially opened in Georgia.Is the country ready for tourist flow?  Summer season is already in full swing. It is already July, and the summer season is approaching peak. With regard to infrastructure, the overall situation is satisfactory, although there is a shortage of hotels. An influx of tourists on the Black Sea coast is significant. On the …

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Fuel Prices Continue to Climb on the Georgian Market

Fuel price hike continues. From today, petrol price has increased by 0.05 GEL in the “Lukoil” retail network. “Euro super” price hiked by 0.03 GEL in  “LUKOIL” network and amounted to 2.30 GEL. “Euro Regular” and “Premium Avantguard” price increased  by 0.05 GEL and totaled 2.10 GEL and 2.25 GEL. “Euro Diesel …

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Association Agreement with the European Union could Increase Product Prices

Association Agreement with the European Union could Increase Product Prices

The Association Agreement signed between the EU and Georgia on June 27 concerns the creation of deep and comprehensive free trade area (DCFTA) as well. What economic effect will the Association Agreement have, and specifically, what regulations must local and foreign entrepreneurs introduce? “Versia” daily  spoke to a Chief Advisor to …

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World Sports Brands not able to Increase Sales in the Market

Despite a wide range of products, sporting goods market cannot grow in Georgia. Representatives of sports brands state that  in recent years the number of customers  has not increased in their stores. GDL sport company that includes Adidas, Nike and Reebok stores says that this year sales haveslightly decreased, although discount promotions aregoing on in the network and user growth is expected in July. The network management explains this fact by the country’s current economic situation and says that …

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GOODWILL May Be Transformed into a JSC

The court did not confirm suit of PKF and respectively previous verdict on its avoidance remains valid. Company director and 6 creditors, among them was not secured creditor TBC Bank, required removal of PKF from the rehabilitation management. The management informs that rehabilitation will be provided in accordance to the plan …

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Textile Manufacturing Increased in Georgia due to World Cup

Textile Manufacturing Increased in Georgia due to Football World Cup

Ajara Textile has increased production due to the Football World Cup. Financial Director of the factory explains that Puma, one of a major partners, ordered 500 thousand pieces of sports uniform per one month for the football championship. Gia Lominadze notes that a Memorandum was signed with the most famous brand Nike, but Adjara Textile is expected to …

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Businessman Levan Vasadze Against “Excessive Door -opening”

As you know, the Constitutional Court invalidated the Moratorium on land sales to foreign nationals. How legitimate was the decision? Under current law, the Constitutional Court had the right to take such a decision. Moratorium itself was more like trying to patch holes in the ship, which had sprung a …

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Businessman Gogi Topadze Launches Cooking Oil, Milk and Soap Business

Kazbegi company  has started working on the business plan of cooking oil, soap and milk processing enterprises within the preferential agro-credit project.  The MP and a founder of the company Gogi Topadze told commersant.ge. According to him, it will be a complex which is planned to be constructed in Kakheti region. …

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Competition Agency Sees No Threat of Monopolies in Georgia

Competition Agency Sees no Threat of Monopolies in Georgia

Almost two months have passed since the  Competition Agency was  established. When will the development of legal acts be completed and when the Agency will begin to take real decisions? The mere fact of the creation of the agency is not sufficient – it must have a legal basis on which it …

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First SPAR Supermarket to Open in Georgia in July

The agreement was signed by Natia Cholokashvili, commercial manager at JSC “Foodmart”,  and David Moore, Spar International’s business development manager. Contract provides complete rebranding of the supermarket chains “Populi” and “Ioli” which are owned by “Foodmart”.  It is about 51 stores throughout Georgia. It is also planned to open new stores. Overall, by 2018 the total …

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