IN Q2, FDI IN GEORGIA INCREASED BY 10.3% Y-O-Y

In the 2^nd quarter, foreign direct investments (FDI) in Georgia amounted to $574.3 million, Sakstat reported (estimation). If compared to estimation for the same period of 2023, the volume has increased by 10.3%. More...

IN Q2, THE UK LED IN FDI IN GEORGIA

In total foreign direct investments (FDI), made in Georgia in the 2^nd quarter ($574.3 million), the UK accounted for 46.4%, or $266.7 million, Sakstat reported (estimation). If compared to the same period of 2023, the volume of FDI from the UK has increased by 87%. More...

IN Q2, 52.3% OF FDI IN GEORGIA ACCOUNTED FOR FINANCIAL AND INSURANCE ACTIVITIES

In total foreign direct investments (FDI), made in Georgia in the 2^nd quarter ($574.3 million), the largest part accounted for financial and insurance activities – 52.3%, or $300.1 million, Sakstat reported (estimation). If compared to the same period of 2023, FDI in this sphere have increased by 38%. More...

GEORGIA AND KOREA CONCLUDED WORK ON ECONOMIC COOPERATION AGREEMENT

The final stage of negotiations on agreement on economic cooperation between Georgia and Korea took place, Georgian Ministry of Economy and Sustainable Development reported.

The parties agreed on such areas as trade with goods and services, intellectual property rights, customs and other important issues, the Ministry said. More...

“SF AIRLINES” INCREASED NUMBER OF CARGO FLIGHTS BETWEEN GEORGIA AND CHINA

Since September, Chinese SF Airlines has increased number of cargo flights between Georgia and China, Georgian Civil Aviation Agency reported.

In particular, the airline will conduct 2 direct cargo flights between Urumqi and Tbilisi a week. More...

GEORGIAN PREMIER: NO BLACKMAIL AND SANCTIONS CAN FORCE BIDZINA IVANISHVILI TO TAKE A STEP THAT WILL LEAD TO LAUNCH OF A SECOND FRONT, A WAR IN THE COUNTRY

Under no circumstances, even against the background of sanctions and blackmail, Bidzina Ivanishvili (billionaire founder and honorary chairman of the ruling Georgian Dream) will not take such a step that will lead to launch of a second front, a war in the country, Georgia’s Prime Minister Irakli Kobakhidze declared at the briefing today.

According to the Premier, Ivanishvili “is under de facto sanctions – his $2 billion are frozen in Europe”. More...

GEORGIAN PREMIER: WE WILL CREATE A GRANT PROGRAM FOR GEORGIAN NON-GOVERNMENTAL ORGANIZATIONS, WHICH WILL BE FINANCED FROM THE STATE BUDGET

We will create a grant program for Georgian non-governmental organizations, which will be financed from the state budget, Georgia’s Prime Minister Irakli Kobakhidze declared at the briefing today.

According to the Premier, necessary institutional and financial foundations for the grant fund will be prepared in the next 2 months. More...

“TI GEORGIA”: DONOR OF 253,000 LARI FOR “GEORGIAN DREAM” USES MUNICIPAL PROPERTY IN BATUMI WITHOUT PERMISSION

The donor of the ruling Georgian Dream uses municipal property in Batumi without permission, declared TI Georgia, Georgian branch of Transparency International.

In particular, on September 1, 2021, the Batumi City Hall handed over free of charge a land plot of 8,339 square m and the motor-racing circuit located on it to LLC New Boulevard under 2-year usufruct agreement. More...

Netgazeti.Ge: “US SUSPENDED ASSISTANCE TO EARTH SCIENCE INSTITUTE – THEA GODOLADZE”

US assistance to Georgian Institute of Earth Sciences has been suspended, head of the Institute Thea Godoladze posted on social media.

As Godoladze said, “financial restrictions imposed by the US government in connection with the recent events in Georgia influenced the target program too, which beneficiaries we were”. More...

Bankebi da Finansebi: “THE BUDGET DOES NOT DEPEND ON GRANTS, SO WE DO NOT SEE ANY RISK IN THE BUDGET OF 2025 – KAKAURIDZE”

Georgia’s state budget does not depend on foreign grants, which share is minimal, Georgia’s Deputy Finance Minister Giorgi Kakauridze declared. “Therefore, we do not see any risk of stalling in the budget for next year”, he said. More...

Bankebi da Finansebi: “NO ALTERNATIVE IS CONSIDERED, AGREEMENT ON ANAKLIA TO BE SIGNED SOON WITH CHINA-SINGAPORE CONSORTIUM – PREMIER”

No alternative is being considered, there is a Sino-Singaporean consortium with which an agreement on the port of Anaklia will be signed this year, declared Georgia’s Prime Minister Irakli Kobakhidze. “Some minor details have yet to be clarified”, and as soon as they are clarified, an agreement will be signed immediately, he said. More...

Rezonansi: “WITH HELP OF SOME MACHINATIONS, GEORGIANS TRY TO HAND OVER THEIR ANCESTORS PROPERTY TO FOREIGNERS”

The law adopted by the Georgian Parliament in 2019 prohibits sale of agricultural land to foreign citizens, but the private sector still manages to sell vineyards, arable and other types of land, the newspaper indicates. Statistics do not say anything about such facts, the article notes. More...

AVERAGE HOTEL PRICES AND HOTEL PRICE INDEX IN GEORGIA (AUGUST 2024)

In Georgia, the average cost of a room¹ in a 3-star hotel was 184 GEL per night in August 2024, while the average cost of a room in a 4-star hotel in Georgia was 272 GEL per night and the average cost of a room in a guesthouse² was 114 GEL per night.

The average cost of a room in a 5-star hotel in Georgia in August 2024 was 586 GEL per night. More...