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1. GEORGIAN ECONOMY MINISTER: DCFTA MAKES GEORGIA MORE ATTRACTIVE FOR INTERNATIONAL INVESTORS, AND ESPECIALLY – FOR CHINESE CAPITAL
   (Daily News: September 12, 2014)

   Georgia’s Economy and Sustainable Development Minister Giorgi Kvirikashvili said that signing Deep and Comprehensive Free Trade Agreement (DCFTA) between EU and Georgia makes the country more attractive for international investors, and especially, for Chinese capital.

   It is not only about transport, but also about mastering of industrial potential, Kvirikashvili declared during discussion at World Economic Forum, which is held in China.

2. ECONOMY AND SUSTAINABLE DEVELOPMENT MINISTER HOLDS MEETINGS AT WORLD ECONOMIC FORUM IN CHINA
   (Daily News: September 11, 2014)

   Georgia’s Economy and Sustainable Development Minister Giorgi Kvirikashvili, who visits China in order to attend World Economic Forum, met China’s Prime Minister Li Keqiang today.

   As Georgian Ministry reported, the sides discussed development of cooperation and existing potential between China and Georgia in trade-economy, investment and tourism fields.

3. Netgazeti.Ge: “ITALIAN INVESTOR TO ENTER “GOODWILL””
   (Economic Press Monitor: September 10, 2014)

   The newspaper reports that Milan Invest, established by Italian investment company, becomes owner of 60% in hypermarket Goodwill.  After completion of transaction, current owner of the network Giorgi Shevardnadze will hold 40%.

   “The deal should be completed by October 30, volume of initial investment makes up $4.8 million”, representative of Goodwill’s management Irina Kosashvili told the newspaper.  This amount “has entered the company and will be used for its development as well as for covering demands of secured creditor, TBC Bank”, she said.

4. Rezonansi: “PRIVATE COMPANIES REFUSE CORPORATE INSURANCE”
   (Economic Press Monitor: September 9, 2014)

   Journalism Investigation Center declared that after launch of state program on universal healthcare, some companies inscribed their employees in this program and canceled corporate insurance packages.

   This way, large and medium-sized business entities have significantly reduced costs, the Center says, did not ruling out possibility that corporate insurance may disappear from local market.

5. GEORGIAN ECONOMY MINISTER TO PARTICIPATE IN WORLD ECONOMIC FORUM IN CHINA
   (Daily News: September 8, 2014)

   Georgia’s Minister of Economy and Sustainable Development Giorgi Kvirikashvili will participate in World Economic Forum, which will take place in Tianjin, China, on September 9-11.

   The Ministry reported that the Minister plans to participate and make a speech at the forum’s panel Scenarios for South Caucasus & Central Asia.

6. INVENTORY OF ACCOUNTS RECEIVABLE AND PAYABLE TO BEGIN IN ENTERPRISES ESTABLISHED BY TBILISI GOVERNMENT
   (Daily News: September 4, 2014)

   Inventory of accounts receivable and payable is starting in legal persons of public law and non-profit (non-commercial) legal persons, established by Tbilisi government, as well as in enterprises with 100% participation of the capital’s municipalities.

   For that end, Tbilisi government decided to establish inventory commission, which will be headed by deputy mayor Giorgi Khelaia.

7. FOREIGN INVESTORS DISCUSS PROSPECTS OF STOCK MARKET DEVELOPMENT IN GEORGIA
   (Daily News: September 4, 2014)

   Investors’ conference, organized by Sakartvelos Banki (Bank of Georgia) and its subsidiary brokerage company Galt&Taggart, held in Tbilisi today. It was devoted to prospects of stock market development in the country.

8. Liberali: “TBILISI CITY COUNCIL GAVE CONSENT TO CITY HALL FOR BORROWING OF 30M LARI”
   (Economic Press Monitor: September 3, 2014)

   Tbilisi City Council authorized City Hall to borrow 30 million lari for the budget needs.

   Deputy Mayor Giorgi Khelaia declared that “after conducted inventory, gap of 30 million lari was revealed in the budget, which hampered implementation of different projects”.

9. Tabula: “TBILISI CITY COUNCIL AUTHORIZED CITY HALL TO BORROW 30M LARI”
   (Economic Press Monitor: September 3, 2014)

   Tbilisi City Council permitted City Hall to borrow 30 million lari from private banks. As Deputy Mayor Giorgi Khelaia declared, taking a loan is necessary to balance wrongly drafted budget.

10. NBG PRESIDENT TO MEET EBRD PRESIDENT
    (Daily News: September 2, 2014)

    Giorgi Kadagidze, president of National Bank of Georgia (NBG), will meet Suma Chakrabarti, president of EBRD. The meeting will held during visit of Georgian official delegation to London.

11. ARTIFICIAL SNOW TO BE SECURED THIS YEAR IN GUDAURI AND BAKURIANI
    (Daily News: September 1, 2014)

    Ministry of Economy and Sustainable Development reported that Gudauri Development Agency and Italian company Demaclenko signed recently a contract, envisaging provision of artificial snow in Georgian alpine ski resorts Gudauri and Bakuriani. Estimated volume of investment makes up 25 million lari.

12. “MOODY’S INVESTORS SERVICE” IMPROVED OUTLOOK FOR GEORGIA’S SOVEREIGN RATING FROM STABLE TO POSITIVE
    (Daily News: September 1, 2014)

    International rating agency Moody’s Investors Service has confirmed recently Georgia’s sovereign rating Ba3 and improved outlook from stable to positive.

    The main reason for outlook’s improvement is signature of Deep and Comprehensive Free Trade Agreement (DCFTA) between Georgia and EU and prospects of improvement of the country’s foreign positions in medium-term period.

13. Netgazeti.Ge: “FARMER ON AGRO-INSURANCE MARKET”
    (Economic Press Monitor: September 1, 2014)

    The 1-year pilot program on agro-insurance is launched on September 1, which envisages co-funding of farmers’ risks. The budget of the program makes up 5 million lari.

14. FIRST DEPUTY OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE MINISTER APPOINTED AS DIRECTOR OF MUNICIPAL DEVELOPMENT FUND
    (Daily News: August 13, 2014)

    The Prime Minister appointed Giorgi Amashukeli, first deputy of Regional Development and Infrastructure Minister, as director of Georgian Municipal Development Fund.

    In 2013, Amashukeli was deputy chairman of Roads Department.

15. The Financial: “INCREASING NUMBER OF NON-REGULATED NBFIS IN GEORGIA MIGHT CAUSE CREDIT CRISIS”
    (Economic Press Monitor: August 12, 2014)

    Giorgi Kadagidze, president at National Bank of Georgia (NBG) says that one of the most important challenges facing the financial sector is the increasing size of the unregulated non-bank financial institutions (NBFI sector: pawnbrokers, instant instalment).

    “This is the most expensive product, and of course, the growth of this sector means the rising burden of debt for our people”, Kadagidze declares.

16. Kviris Palitra: “VANDALISM FOR START OF CONSTRUCTION?”
    (Economic Press Monitor: August 11, 2014)

    The newspaper states that healthy trees are damaged and left withered on territory of former hippodrome in Tbilisi (Tamarashvili St. 13). Local resident Giorgi Shilakadze says that “special vehicle arrives, uproots and takes away trees, while holes are refilled in order to free new construction site”.

17. COMMISSION FOR CONSIDERATION OF BIDS ON ANAKLIA PORT CONSTRUCTION TO BE HEADED BY THE PREMIER
    (Daily News: August 8, 2014)

    Premier Minister decided to head himself the commission for consideration of bids, submitted on construction of deep-water port in Anaklia. According to his order, deputy chairman of the commission will be Minister of Economy and Sustainable Development, Vice-Premier Giorgi Kvirikashvili.

18. TBILISI CITY COUNCIL APPROVED NEW CITY GOVERNMENT
    (Daily News: August 5, 2014)

    Tbilisi City Council approved new government of the capital, including vice-mayors, heads of city services and heads of district administrations, at the meeting today.

    Post of Mayor’s first deputy has been occupied by Aleksandre Margishvili, former deputy minister of culture and monuments protection.

19. EDUCATION MINISTRY FUNDED 135 DOCTORAL CANDIDATES WITH 2.1M LARI
    (Daily News: August 1, 2014)

    Ministry of Education and Science allotted grant of 2.1 million lari for 135 doctoral candidates. As the Ministry said, that funds will cover costs of education, research, probation and participation in conferences abroad for applicants, selected through contest.

20. POST OF TOURISM ADMINISTRATION’S HEAD IS VACANT
    (Daily News: July 30, 2014)

    Ministry of Economy and Sustainable Development declared that Giorgi Sigua is released from duties of head of National Tourism Administration, starting from August 4.

    The Ministry stressed that information, which Sigua spread today regarding “his allegedly unawareness on possible dismissal, does not correspond to reality”.

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