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Economy

Georgia Air Traffic has Increased by 13.6%

According to the Air Navigation LTD of the Ministry of Economy and Sustainable Development of Georgia, based on 6 months statistics of 2017, the number of flights in Georgian airspace has increased by 13.6% compared to last year. During 6 months Air Navigation LTD served 64 407 flights, which is …

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Wind Power Station Generates 6 mln kw/h Electricity in July

Energy Development Fund has announced tender for transforming the wind power station into a joint stock company and purchasing consulting services. The Fund representatives told Business Course that the station’s value has been already determined. BDO prepared the corresponding research, when the station was out out for auction. However, the …

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The GIG will Build a 300 Megawatt Capacity Thermal Power Plant

The largest Italian group Muratori & Cementisti – C.M.C.di Ravenna SocietàCooperativa signed cooperative memorandum with Georgia Industrial Group GIG. Within the framework of the Memorandum the Parties agree to establish a joint venture in Georgia, which will participate in implementation of large infrastructure and energy projects,- Levan Vepkhvadze, General Director …

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IMF – Influential International Organization

International Monetary Fund (IMF) is one of the  most important and influential international organizations with 184 member countries, including Georgia. Objective of IMF foundation was to ensure international monetary cooperation, stability of exchange rate and economic growth. Key function of the organization is to provide temporary financial assistance to member …

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Financial Resources Declining in Agriculture Sector

In 2017 State Subsidies Shrank in Agriculture Sector, Wine Subsidization  and FDI inflows also declined. Unlike previous years, in 2017 Government of Georgia reduced subsidizing agriculture sector. Under the 2017 state budget, agriculture sector subsidization has shrunk by about 83 million GEL. Agriculture Development program has been reduced by 75.430 …

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BTK Railway to Be Commissioned in Autumn

The Baku-Tbilisi-Kars railway, a regional rail link project to directly connect Azerbaijan, Georgia and Turkey, will be put into operation in October 2017, Kazakhstan Temir Zholy Railway Company reported. Kazakhstan Railways Head Kanat Alpysbaev was informed about this at negotiations during his working visits to Azerbaijan and Georgia. During his …

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Farmers krom Khulo Exported 4 tons of Georgian Garlic to the EU

According to Resan Chogadze, the Chief Specialist of the Ministry of Agriculture department of Ajara, 4 tons of garlic has exported to Germany by 4 farmers of Khulo- Jemal Artmeladze, Mikheil Choghadze, Aleksandre Ishkhnelidze and Bidzina Shavadze. Farmers sown garlic in Fall, 2015, covering 0.5. It was the first time for …

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Rehabilitation of Road Access to Tsalka, Dashbash Canyon

New road will be constructed to Tsalka. Kvemo Kartli governor Grigol Nemsadze says to Business course that there will be 1,5 km road. 372 thousand GEL is allocated for rehabilitation. According to the governor, 60% of rehabilitation road access to the canyon has been completed. Grigol Nemsadze says that region has …

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Government to Postpone Tobacco Packing Bill Enactment for 5 Years

The term for implementing legislative regulations for standardized packing of tobacco products will be postponed, namely: Government of Georgia will be obliged to reschedule an approval of tobacco products sales and packing standards for July 1, 2022, instead of July 1, 2017. Under the changes, the 31st December of 2022 …

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