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Economy

Economy Ministry Suspended the Renewed Privatization of Farmland

Georgian Economy Minister Giorgi Kvirikashvili suspendedthe privatization of agricultural land, which was renewed after theConstitutional Court invalidated the Moratorium on the sale of farmland to foreign nationals. According to the Minister, at this stage privatizationwill not be carried out. “My decree suspended the sale of land, as the government is currently working on establishing a mechanism of privatization, and taking into accountinternational practice it will be necessarily to adopt a law that will …

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Budget and Finance Committee of Parliament: A Complete Ban on the Sale of Land to Foreigners Creates Problems

How much did you expect the Constitutional Court’s decision  on lifting the Moratorium on sale of agricultural land to foreign nationals?  The Moratorium was not a constant norm, it was a temporary restriction before the end of the year. The reason for this was a fact  that under the previous government there was no detailed information about how much …

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Ruling Party not Waits for Russian Aggression due to the Association Agreement with the EU

The parliamentary majority doesn’t expect any kind of aggression from  Russia after the signing the Association Agreement with the European Union. As we reported, presidential spokesman DmitryPeskov said that  the signing of the Association Agreements with the EU was  the sovereign right ofUkraine, Georgia and Moldova , but Russia would take protective measures in the case of the negative impact of this document  on  the Russian market. Zakaria Kutsnashvili, one of …

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Experts Doubt Effectiveness of Competition Agency

The experts interviewed by “Commersant” doubt the effectiveness of the Competition Agency. An expertLevan Kalandadze believes that  the creation of theCompetition Agency and adoption of the law was one of the key challenges for  Georgia and both political and economic circles have always beenfocused on this issue. He says that the solution to the problem with the competition and the launching ofreal antitrust institutions was one of the key challenges in the market. In his words,  the law was adopted, the Competition …

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The Association Agreement Signed

Georgia has signed the Association deal with the EU. The 1,135 page document has been signed by Georgia’s PM Irakli Gharibashvili, President of the EU Commission  Jose Manuel Barroso and President of the EU Council Herman Van Rompuy. The Association Agreement between the EU and Georgia will be signed by each …

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What happens after Georgia Signs the Association Agreement with Europe?

What is the significance of the Association Agreement and what  benefits will it bring  to Georgia? The prospect of concluding a Deep and Comprehensive Free Trade Agreement (DCFTA) between Georgia and the EU gave fresh impetus to the process of enacting reforms in trade-related spheres. The DCFTA will be one of the …

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Director of Georgian National Tourism Agency Acquainted Ukrainian “Forbes” with Advantages of Georgian Tourism

Number of Ukrainian tourists visited Georgia in January-May 2014 increased by 27% compared with the same period in 2013  and amounted to  48.8 thousand people. Director  of Georgian National Tourism Administration George Sigua assures that “Ukrainians in Georgia will feel like home” in his interview with the Ukrainian “Forbes”. He adds that in the …

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Georgia to Sign Association Agreement with EU Today

Georgia will sign the Association Agreement with the EU today. Georgian Prime Minister Irakli Garibashvili, President of the Commission of Europe Jose Manuel Barroso and President of the EU Council Herman Van Rompuy will sign the Agreement. The signing ceremony will be held in Brussels at 9 AM local time, 11 …

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Winemaking Waste could Become Fuel Starter in Georgia

In Georgia, winemaking waste could serve as a good starting point for environmentally friendly fuel production. Swedish company “Scania”, one of the world’s leading manufacturers of heavy trucks and buses, isdeveloping a new direction of business, whichincludes environmentally clean fuel production. According to the Ministry of Economy, “Scania” plans to open a sales and service center in Georgia in the near future. …

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What Harm did Moratorium on the Purchase of Agricultural Land by Foreign Nationals Inflict on Georgian Economy?

According to the non-governmental organization “Transparency International”, the Constitutional Court of Georgia considered unconstitutional the Parliament’s decision to ban the sale of agricultural land. Basis for the judgment was NGO’s lawsuit over Parliament’s decision that violates the rights of individuals and thefreedom of entrepreneurial activity. “The court decided that the suspension of the right to alienatethe land, even temporarily (the moratorium was in effect until the beginning of 2015), does not correspond to the Constitution of Georgia and …

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