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Economy

Warranty Fund is Last Attempt to Prevent Crisis Tendencies

“I would like to back the initiative by Ministry of Economy for establishing a warranty fund. This idea requires a support from International Monetary Fund (IMF). Therefore, we are conducting active negotiations with them”, Roman Kakulia, head of the parliament’s economic policy committee, noted. “This is the last attempt of …

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Georgia and Hong-Kong to Sign Free Trade Agreement

Georgia and Hong Kong will sign free trade agreement in late June, as part of Belt and Road Summit, Georgian Prime Minister Giorgi Kvirikashvili said. “This is an important event for exports of our products and naturally, this will further ensure openness for trade, investments. We are sure this will …

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Anaklia and Constanza Seaports Sign Memorandum on Cooperation

Anaklia and Constanza seaports have signed a memorandum on cooperation in Brussels, Belgium. According to Anaklia Development Consortium, the memorandum calls for strategic partnership and cooperation in arious issues, including information exchange, common action plan for transportation and identification of routes, cooperation in logistics and infrastructural projects. Under the memorandum, …

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New Enterprise LTD Tiflis Textile Opened within Produce Georgia

First Deputy Prime Minister, Minister of Economy and Sustainable Development Dimitri Kumsishvili officially opened the Tiflis Textile Ltd, supported by the Agency “Produce Georgia” on June 11th. Factory will produce socks. “Tiflis Textile”  is using the component of availability of finances in the state program “Produce Georgia”, which means that …

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Fuel Prices Keep Rising

Current developments on the Georgian oil market suggest that fuel may soon become a luxury product. Last week, fuel prices rose at all branded stations. Specifically, prices increased by 2-9 Tetri. As of June 6, at the SOCAR network the price of one liter of super petrol was 2.58 GEL, …

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EFTA and Georgia Held Trade Promotion Seminar

The EFTA Secretariat, in cooperation with the Georgian-Swiss Business Association (GSBA), the Embassy of Switzerland in Georgia and the Ministry of Economy and Sustainable Development of Georgia, held an “EFTA-Georgia: Trade Promotion Seminar”, on 7 June 2018, at Rooms Hotel Tbilisi. The EFTA – Georgia Free Trade Agreement (FTA) entered …

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Georgian Myway Airlines Launches Regular Flights from June 12

New Georgian Airline company launches regular flights from June 12. Company will perform its first flight from Tbilisi to Kharkovi. Myway Airlines will fly this destination twice a week, on Tuesdays and Saturdays. The same destination will be available from Batumi International Airport as well, starting from June 14, twice …

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Foreign Direct Investments are Down by 32.9 Percent

Foreign direct investments (FDI) in Georgia amounted to USD 279.3 million in Q1 2018 (preliminary data) down 32.9 percent from the preliminary data of Q1 2017. The main reasons for decreasing the FDI are transferring of ownership in some companies from non-resident to a resident units and reduction of debt …

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Swiss Investments in Georgia Rise 7.5 Times

According to preliminary indicators, foreign direct investments in Georgia from Switzerland made up 22.3 million USD in 2017. According to Geostat, the figure has increased 7.5 times compared to 2016, when 2.9 million USD FDI was invested from Switzerland. As to top investment fields, in 2017 Swiss FDI inflows to …

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Levan Koberidze – Indicator of Job Place Growth is Optimistic

Levan Koberidze, a member of the parliamentary majority, says that the job index published by Geostat is optimistic. “It’s quite optimistic and positive. All this is correctly figured for economic and fiscal reforms and promised 4-point plan in the pre-election period. We are confident that we will soon achieve the …

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EFTA-Georgia: Trade Promotion Seminar on June 7, 2018

The EFTA Secretariat, in cooperation with the Georgian-Swiss Business Association (GSBA), the Embassy of Switzerland in Georgia and the Ministry of Economy and Sustainable Development of Georgia, will hold an “EFTA-Georgia: Trade Promotion Seminar”, to take place on Thursday, 7 June 2018, at Rooms Hotel Tbilisi. The seminar will bring …

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