ARMENIA AND GEORGIA SIGNED AGREEMENT ON ELECTRIC TRANSMISSION LINE CONSTRUCTION
(Daily News: May 27, 2011)
LLC Georgian State Electro System reported that agreement was signed recently on new electric transmission line construction from Armenia to Georgia. The agreement will enter in force in near future, the LLC said.
Bankebi da Finansebi: “HEALTHCARE REFORM MEANS PRIVATIZATION OF MEDICAL INSTITUTIONS ONLY”
(Economic Press Monitor: May 27, 2011)
The project “100 New Hospitals” is the most important component of reform, implemented in the healthcare sphere. The aim of the program is privatization of 97% of hospitals both in Tbilisi and in regions through direct selling.
CONSTRUCTION OF OLYMPIC VILLAGE TO START NEXT YEAR
(Daily News: May 25, 2011)
Tbilisi City Hall declared that construction of Olympic Village will start next year on the territory of Tbilisi Sea. The City Hall does not name the budget, noting only that the construction will be funded through both budgetary allocations and attracted investments.
“PRIVATBANK” OFFERS SERVICE IN UKRAINIAN LANGUAGE
(Daily News: May 24, 2011)
Georgian PrivatBank has opened today its first branch (Tbilisi, Abashidze Str. 43), where customers can receive service in Ukrainian language. All documentation, application forms, as well as advertisements and booklets will be duplicated in Ukrainian language.
Rezonansi: “ICE CREAM INCREASED IN PRICE BY 25-30% DURING A YEAR”
(Economic Press Monitor: May 24, 2011)
Ice cream is increased in price by 25-30% if compared to the previous year. The entrepreneurs explain price growth with increase of price for raw materials.
“GLOBALCELL GEORGIA” HAS 3 INDICES ALREADY
(Daily News: May 23, 2011)
Communication company Globalcell Georgia announced that SIM-cards with new index 372-54, which cost 30 lari and above, are in operation since May.
To note, until now, the company offered cards with 2 Estonian indexes – 372-59 and 372-57.
“KNAUF GYPS TBILISI” SOLD UP TO 7M SQUARE M OF GYPSUM PLASTERBOARDS
(Daily News: May 23, 2011)
Mamuka Chochia, manager of Knauf Gyps Tbilisi, told Sarke that the company had manufactured and sold 6-7 million square m of gypsum plasterboards during a year (preliminary estimations).
To note, current productivity of Knauf Gyps Tbilisi’s plant makes up 8-10 million square m annually.
“WISSOL PETROLEUM GEORGIA” OPENS 3 FILLING STATIONS
(Daily News: May 23, 2011)
Wissol Petroleum Georgia reported that 3 new filling stations were opened – in Tbilisi, Batumi and Zugdidi. The company said that it had invested over 1 million lari in launching these objects.
Kviris Palitra: “GEORGIAN PARLIAMENTARY INDUSTRY”
(Economic Press Monitor: May 23, 2011)
About 55 million lari has been allocated from the budget for construction of new building of the Parliament in Kutaisi. Glass construction, located on land area of 40,000 square m, was designed by Spanish architect Alberto Domingo Cabo.
“AVIASERVISI” FINISHED 2010 WITH LOSS AGAIN
(Daily News: May 20, 2011)
According to JSC Aviaservisi (Airservice, air tickets realization), the company fixed loss of 35,923 lari in 2010. However, the volume of loss declined by 9% year-on-year.
“SAKTSKALPROEKTI” INCREASED PROFIT THROUGH REVENUES FROM LEASING
(Daily News: May 20, 2011)
According to the report of JSC SakTskalProekti (Georgian Water Project), the company finished 2010 with net profit of 226,400 lari, which exceeds by 18.5% showing of 2009.
Revenues from space leasing in the company’s building in Tbilisi (Mosashvili Str. 11) made up 433,000 lari (4.5 times growth year-on-year).
ACTUAL TOPIC: CONSTRUCTION MARKET TRENDS
(Daily News: May 20, 2011)
Sarke has interviewed Giorgi Kapanadze, head of Developers’ Association and director of the company Axis, regarding current trends on construction market.
What is the current state in construction market?
Kapanadze: Big demand is fixed at this stage for completed or semi-finished flats, as well as for flats, being funded by banks.
GEORGIAN WINE TOURISM PROMOTION IS PLANNED IN THE US
(Daily News: May 20, 2011)
American Chamber of Commerce in Georgia reported that program on Georgian wine tourism promotion will be held in the US from May 30 through June 8. Within this program, 15-members Georgian delegation will visit the US.
EU TO ALLOT 8M EUR FOR CITIZENS SERVICE BUREAUS’ CREATION
(Daily News: May 20, 2011)
Regional Development and Infrastructure Ministry informed that European Commission will allot 8 million EUR in terms to create bureaus for citizens’ service.
The project envisages creation of single, central bureaus in local administrations, where all citizens’ applications will be collected.
SWEEPING AND WASTE MANAGEMENT RELEASED FROM VAT
(Daily News: May 20, 2011)
The Parliament has approved amendments to Tax Code, envisaging VAT removal for sweeping/cleaning and wastes’ management service on settled territories. The amendments are drafted by Tbilisi City Hall.
PEDIATRIC CLINIC TO BE SOLD FOR 1.68M LARI
(Daily News: May 19, 2011)
Economy and Sustainable Development Ministry brought to auction the state-owned LLC Mikheil Guramishvili Pediatric Clinic (TEMKA settlement of Tbilisi). Starting price is 1.68 million lari.
CORE REVENUES OF JSC “TBILABRESHUMI TSISARTKELA” PROCEED FROM LEASING AGAIN
(Daily News: May 19, 2011)
According to annual report of JSC Tbilabreshumi Tsisartkela (Tbilisi Silk Rainbow), in 2010 main source of revenue was leasing again. The company’s net profit made up 153,300 lari, against 2009, when loss of 78,300 lari was fixed.
“TELASI” SHOULD PAY LIABILITIES OF 147.5M LARI DURING 2011
(Daily News: May 19, 2011)
According to report for 2010 of JSC TELASI (Tbilisi energy distributor), the company has to pay liabilities of 147.5 million lari until the end of 2011. However, the report notes that most of these liabilities are due to organizations of joint control.
AZERBAIJAN TO ALLOT ADDITIONAL $575M FOR BAKU-TBILISI-KARS RAILWAY CONSTRUCTION
(Daily News: May 19, 2011)
Georgian Ministry of Regional Development and Infrastructure reported that Azerbaijan allots additional long-term loan of $575 million for project on Baku-Tbilisi-Kars railway construction.
To remind, Azerbaijan had alloted already 20-year soft loan of $200 million for construction of Georgian section of the mentioned railway.
TURKEY PLANS TO INCREASE TENFOLD TRADE TURNOVER WITH GEORGIA DURING 10 YEARS
(Daily News: May 19, 2011)
Head of Eastern Anatolia Export Association Jemal Shengeli declared that Turkish side has plans to increase Georgian-Turkish turnover to $10 billion within 10 years.
To note, according to Sakstat, Georgian export to Turkey in 2010 made up $216 million, while Turkish import to the country – $888.6 million.
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