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Economy

35 Million EUR for Engurhesi Rehabilitation – Works Start in 2019

The processes related to tender for the hydropower plant project Engurhesi rehabilitation will have to be completed by the end of April 2019 – Engurhesi Director Levan Mebonia told Bm.ge The Engurhesi rehabilitation project is financed by the European Bank for Reconstruction and Development (EBRD). EBRD already allocated 28 million …

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Effect by Georgian Tea: 1 GEL of State Budget Earns 0.44 GEL Investment

According to Ministry of Environment Protection and Agriculture, as part of tea plantations rehabilitation program – Georgian Tea, a total of 39 projects were financed from 2016 up to August 31, 2018 and spaces of 907 hectares have been rehabilitated or are being rehabilitated. In the reporting period, total investments …

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SkyUp plans to operate from Kiev to Batumi in addition to Tbilisi

The Ukrainian low-coster SkyUp plans to launch regular flights from Kiev to Batumi, besides Tbilisi. According to SkyUp, the company will operate on Kiev-Batumi airspace from May 25, 2019 and will carry out daily flights. It is already known that the price of the ticket will be from 1527 Ukrainian Hryvnia. …

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Ministry of Economy Releases Special Statement on Wizz Air

wizz-air

We find it absolutely unacceptable to disseminate this misinformation aimed at misleading our population, destabilizing the situation and damaging the interests of not only one specific airline, but the whole business environment in Georgia. We would like to declare with full responsibility that no restrictions will be introduced against Wizz …

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Transportation of Oil and Oil Products Declines in Georgian Corridor

Transportation of oil and oil products through Georgian corridor has fallen to minimum. Paata Tsagareishvili, founder of Transport Corridor Research Centre and the HUB Georgia expert told BM.GE that all three seaports of Georgia (Batumi, Poti, Kulevi) handled 31% less oil and oil products in January-October, as compared to the …

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Government Plans to Privatize Post of Georgia and Georgian Railway

Government of Georgia plans to privatize Post of Georgia and Georgian Railway, Minister of Economy Giorgi Kobulia told the Bloomberg. Government also plans to privatize State Electrosystem, the process suspended in 2011 amid the market challenges, he added. “We should increase efficiency of these companies to privatize them”, Kobulia said. …

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Capital Market Challenges in Georgia

What the capital market is and why it matters for the state economy. The capital market, that is, the securities market industry, as well as banking sector, is an integral part of the financial market. It enables physical and legal bodies to seek desirable capital, on the one hand, and …

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New Companies to Appear on Electricity Market Starting January 1

In line with the electricity market liberalization process, Government of Georgia has developed a package of new legislative amendments, Revaz Arveladze, member of the parliament’s majority told BM.GE. According to the bill, starting January 1, 2019, about 70-100 companies will buy electricity without distributors. The present tariff does not enable …

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Georgia’s First Maize Oil Production to Start in Samegrelo Region

As part of the joint project of Partnership Fund and Qarva Kolkhuri company, the maize oil and combined forage production will start in Georgia for the first time. Qarva, the Georgian maize oil will appear on Georgian market in 2019. The project’s investment value is 3 million USD. According to the …

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Healthcare and Social Direction Costs Increased by 50 Million

The budget of the capital city of 2019, ecological, healthcare and social direction expenses have increased significantly, – Tbilisi Mayor Kakha Kaladze said at today’s sitting of the municipality government. Kakha Kaladze talked about the future budget of the capital city, which was sent to Tbilisi City Assembly last week …

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