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Economy

TAV Negotiates with Government to Expand Batumi Airport

TAV Georgia is negotiating with government regarding expanding Batumi Airport. ”We have negotiations with the government regarding Batumi, this is long-term and short-term negotiations: short-term plans are implemented Batumi airport infrastructure this year, which will allow us to get the 2018 year without any problems and pass the number of …

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Georgian Citizens Spent 112 Million GEL Abroad in January

Georgian Citizens Spent 112 Million GEL Abroad in January

Georgian citizens spent 112 million GEL abroad. Transaction via plastic cards are increased by 23% y-o-y (01/2017 – 91 million). Envisaging exchange rate effect, the growth is 34%. GEL is strengthened by 6% against USD y-o-y. Cash withdrawals from the ATMs amount to 11 million USD from 45 million USD …

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Rehabilitation of Historic Houses Starts in Abastumani

Rehabilitation of Historic Houses Starts in Abastumani

Rehabilitation of historic houses starts in Abastumani. Two companies will make restoration of historic buildings in the resort; one is Georgian “Ersimedi” and the second – Polish “Kamaro”.  These companies participated at the tender as a joint company and defeated 5 competitors. They have gained a contract of 3.7 million. …

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Government to Exempt Maintenance of Airplanes of VAT

Maintenance of airplanes will be exempted from VAT as part of the initiative Minister of Finance Mamuka Bakhtadze unveiled to reporters after government meeting on February 21. “We plan to exempt maintenance services for airplanes from VAT. We would like to remind you that this is a very important component …

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Development of Fiber Optic Cable of Europe-Asia is Considered via Georgia

Development of Fiber Optic Cable of Europe-Asia is Considered via Georgia

Georgia and Turkey will discuss development of Europe-Asia fiber-optic cable highways. Dimitri Kumsishvili raised the initiative with the Turkish counterpart. “Development of fiber-optic cable networks of Europe and Asia via Georgia and Turkey is one of the priority issues in our countries’ agenda”, – Ahmet Arslan, First Vice Prime Minister …

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Ukraine, EU to jointly finance new Silk Road transport corridor

Ukraine and the European Union (EU) will jointly finance the “Go highway” project, which would establish a new transport corridor on the Silk Road, Ukrainian Infrastructure Minister Volodymyr Omelyan said on Tuesday. “The EU is ready to partially finance our ‘Go highway’ project that will connect the Baltic Sea and …

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Flydubai to Carry out Daily Flights to Batumi

Flydubai, the low-cost airline in the United Arab Emirates, will carry out daily flights to Batumi on the navigational season of the current year. In particular, between 16 June and 30 September, the aviation traffic will be performed on Dubai-Batumi-Dubai air line 7 times a week instead of 3 frequencies. …

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Switzerland has just ratified the EFTA-Georgia Free trade agreement.

We have the pleasure to announce that Switzerland has just ratified the EFTA-Georgia Free trade agreement. It will enter into force, for the relations Georgia- Switzerland, on May 1st, 2018. The Free Trade Agreement between Georgia and European Free Trade Association (EFTA) allows Georgian producers to export majority of their goods …

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Wind Power Plant to be Constructed in Georgia by Large Turkish Holding

calik-holding

The largest Turkish energy company “Chalik Enerji” will construct 50 MW wind power plant in Shida Kartli and will invest 75 million dollars. Dimitri Kumsishvili, the Minister of Economy and Sustainable Development, stated it after meeting with Turkish company’s founder and chairman Ahmet Chalik. According to the first Vice Premier, …

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