IN Q3, FDI IN GEORGIA DECREASED BY 61.5% Y-O-Y

In the 3^rd quarter, foreign direct investments (FDI) made in Georgia amounted to $316 million, Sakstat reported (estimation). If compared to adjusted data for the same period of 2022, the volume has decreased by 61.5%. More...

IN Q3, FINANCIAL AND INSURANCE SECTOR LED IN FDI IN GEORGIA

In total foreign direct investments (FDI) made in Georgia for the 3^rd quarter ($316 million), financial and insurance activities accounted for the largest share – 25.4%, or $80 million, Sakstat reported (estimation). Nevertheless, if compared to the same period of 2022, the volume has decreased 1.99 times. More...

IN Q3, THE US LED IN FDI IN GEORGIA

In total foreign direct investments (FDI) made in Georgia for the 3^rd quarter ($316 million), FDI from the US accounted for the largest share – 16.4%, or $51.8 million, Sakstat reported (estimation). Nevertheless, if compared to the same period of 2022, the volume has decreased by 22%. More...

NEXT YEAR, GEORGIAN PARLIAMENT PLANS TO CONSIDER BILL “ON AGRICULTURE AND RURAL DEVELOPMENT”

Within the framework of the next year’s spring session, the Committee on Agrarian Issues plans to initiate a bill “On Agriculture and Rural Development”, Georgian Parliament declared. On December 7, the bill was discussed at a meeting of the advisory council under the Committee. More...

NATIONAL PARK TO BE CREATED IN GURIA

Based on results of the research in municipalities of Chokhatauri and Ozurgeti, boundaries of the national park of Guria region were finally determined, Georgian Ministry of Environment Protection and Agriculture declared. For creation of a national park in Guria a respective bill has been prepared. More...

FIRST 4-KM SECTION OF TBILISI-SAGAREJO HIGHWAY IS OPEN FOR VEHICLES

The first 4-km section of Tbilisi-Sagarejo highway has been opened for vehicles, Georgian Ministry of Regional Development and Infrastructure reported. The project, which cost up to 64 million lari, was financed from the state budget. More...

AS OF 9 MONTHS, 3 COMPANIES ACCOUNTED FOR 62% OF GEORGIA’S TOTAL LAND VEHICLE INSURANCE PREMIUM

In total premium, attracted by Georgian insurance companies from insurance of land vehicles (except railway) in 9 months of this year (153.4 million lari), combined share of 3 companies made up 62%, or 94.6 million lari, Georgian State Service for Insurance Supervision reported. If compared to the same period of 2022, the top three remained unchanged. More...

AS OF 9 MONTHS, 3 COMPANIES ACCOUNTED FOR 75% OF GEORGIA’S TOTAL PROPERTY INSURANCE PREMIUM

In total premium, attracted by Georgian insurance companies in 9 months of this year from property insurance (153.4 million lari), combined share of 3 companies made up 75%, or 72.1 million lari, Georgian State Service for Insurance Supervision reported. If compared to the same period of 2022, the top three remained unchanged. More...

Batumelebi: “TENDER WORTH 3M LARI WAS ANNOUNCED IN BATUMI TO REINFORCE EMERGENCY HOUSES”

In order to reinforce and restore emergency houses in the city, Batumi City Hall announced a tender worth up to 3 million lari. Applications will be accepted on January 3-8, 2024. More...

Forbes Georgia: “5G NETWORK OF “CELLFIE MOBILE” WILL BECOME AVAILABLE FROM DECEMBER”

In Georgia, the 5G network will become available in December, Cellfie Mobile reports. First, the network will be launched in alpine resorts of Bakuriani and Gudauri. More...

Tabula: “CITIZENS OF A FOREIGN COUNTRY HAVE WASHED THE EQUIVALENT OF ONE MILLION LARI – 2 PERSONS ARE INDICTED”

Georgian prosecutor’s office launched criminal prosecution on charges of money laundering against 2 citizens of a foreign state. The crime envisaged imprisonment for a term of 9 to 12 years. More...

HAZELNUT PRODUCTION SECTOR IN GEORGIA

EXECUTIVE SUMMARY

Global trends: In the hazelnut industry, between 2016 and 2022, notable increases were recorded in global production, harvested area, and exports. For example, hazelnut production (in tons) rose from 0.8 million in 2016 to 1.1 million in 2022. More...