Daily News

IN THIS ISSUE:

Ministry of Economy and Sustainable Development declared that according to data of the 1^st quarter, growth observed in construction sector, where turnover amounted to 481.5 million lari, increasing by 16.8%, if compared with the same period of last year.

Output amounted to 530.3 million lari, increasing by 19% year-on-year.

Ministry of Economy and Sustainable Development reported that share of agriculture in GDP has increased in 2013 to 9.3% from 8.6% of 2012.

Agricultural output amounted in the reporting year to 3.4 billion lari, increasing by 11.4 year-on-year.

German Bank for Reconstruction (KfW) will issue grant of 200,000 EUR to fund study of Georgia’s potential in agricultural insurance. Respective agreement was signed by KfW vice-president Eva Witt and Georgia’s Minister of Agriculture Shalva Pipia yesterday.

Economy and Sustainable Development Ministry reported that interagency council for pension reform held a meeting at the Ministry today, discussing ongoing issues of work on accumulation pension system.

Head of pension reform service Otar Dzidzikashvili specified that concept of mixed pension system (voluntary + mandatory parts) was considered.

The government reported that it has considered at the today’s meeting amendments, to be made in law on protected areas.Acting legislation allows only restricted economic activity on territory of Tusheti protected area, which excludes possibility of shaly stones’ usage, the government pointed, noting: “However, shaly stone represents necessary construction material for both local residents’ houses and investors’ tourist infrastructure”.

Amendment of the mentioned law will envisage demands of local population and investors in regard of natural resource (shaly stone) usage, the government declared.

Today, Deputy Ministers of Economy and Sustainable Development met with delegation of Dubai-based Jumeirah Group.

As the Ministry reported, the delegation pays visit to Georgia, aiming acquainting with the country’s tourist potential and prospects of investment.

National Bank of Georgia reported that total profit of micro-financial organizations, operating in the country, amounted to 18.05 million lari in the 1^st quarter. If compared with the same quarter of 2012, the volume has increased by 30.2%.

Mobile operator MagtiCom declared that its partner satellite company SES positioned its satellite ASTRA 5B, launched in March, to broadcast at 31.5 degrees East, so its coverage area includes Central and Eastern Europe and South Caucasus.

Chief technology officer of SES Martin Halliwell said that ASTRA 5B, which replaced old ASTRA 1G, will enhance capacity of the company in terms of operations in CIS countries, Russia and Central Europe, in line with the new strategy.

ProCredit Bank will allot 10,000 lari to Caucasus Nature Fund, which will use the funds for infrastructure improvement in Vashlovani protected area (Kakheti region).

The bank’s director Keti Khuskivadze, executive director of the Fund David Morrison and chairman of Agency for Protected Areas Rati Japaridze signed respective agreement at the Ministry of Environment and Natural Resources Protection yesterday.

PKF Georgia reported that hypermarket “Goodwill together with its 6 creditors achieved temporary recusation of rehabilitation manager, i.e. PKF Georgia”.

The company appealed against of this decision in Appellation Court, saying that active relations with creditors of the hypermarket are continue in order “to define properly next measures of rehabilitation”.

General license for brokerage activity was issued for LLC Tbilisi Traders Club. The company was registered in February, its single owner is Medea Kvrivishvili.