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Economy

Finance Expert: We Should not Expect FDI to Grow with Current Management Model

Financier Giga Bedineishvili believes that having the current management model, Georgia should not expect an increase in foreign investment. Bedineishvili speaks about unfavorable investment climate and pouring money in the Georgian economy has become risky for both foreign and Georgian investors. “We should not expect FDI to increase with the management model …

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Giorgi Kobulia: Belarus is Ready To Strengthen Imports of Georgian Production

“Trade and economic relations between Georgia and the Republic of Belarus have been consistently developing over the last few years. From Georgia to Belarus we export such important products as mineral waters, spirits, wine, nuts, non-alcoholic beverages, medicines, etc. Today’s event is another significant measure targeted at facilitating the business …

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Another Large Hydroelectric Power Plant to be Built in Georgia

Georgia’s Ministry of Economy has completed negotiations on the construction of another giant hydroelectric power station Namakhvani HPP, Deputy Minister of Economy Natia Turnava says. According to the Deputy Minister, the text of the agreement is already being considered by the government, after which the document will be signed and …

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Exports to EU Declined by 10% in January-February, Rose by 45.7% with CIS

According to Geostat, the national statistics service of Georgia, in January-February 2019, Georgia’s exports to EU declined by 10.7% and totaled about 118 million USD. At the same time, the imports with EU also decreased by 4.5% and totaled 304.2 million USD. Unlike European Union, in January-February 2019, Georgia’s exports …

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Foreign Direct Investment See 5 Years’ Bottom

According to preliminary indicators, foreign direct investments (FDI) in 2018 was listed at 1,232.4 million USD, down 34.9% year on year. The contraction in FDI is related to completion regarding gas pipeline construction. Moreover, several companies were moved their ownership to Georgian residents, and loan liabilities were paid off to …

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Average Salary for Men is 1468 GEL, for Women – 906 GEL

According to Geostat, the national statistics service of Georgia, according to the fourth quarter of 2018, average salaries in Georgia made up 1202 GEL, up 61 GEL year on year. At the same time, average salaries for men makes up 1468 GEL and for women – 906 GEL, down 38% …

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Rehabilitation Project of Dry Bridge Area Begins

The rehabilitation works of Dry and Saarbrücken Bridges, March 9 and Deda Ena Park begins in Tbilisi. The rehabilitation works will be implemented within the framework of the project “New Tiflis” aimed at creating a large tourist route in the historic part of the city, connecting old and new rehabilitated zones, …

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Georgia and Tajikistan Signed Agreement on International Road Transport

“Tajikistan is interested in the development of the trade and economic relations with Georgia and the development of the transport links in different directions are of utmost importance in this regard,” – representatives of the Ministry of the Transport of the Republic of Tajikistan stated at the meeting with the …

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