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1. Bankebi da Finansebi: “INTRODUCTION OF 4G TO BRING THE COUNTRY INVESTMENTS OF UP TO 300M LARI”
   (Economic Press Monitor: May 14, 2014)

   In his interview with the newspaper, director general of mobile communications company Mobitel (operating under Beeline brand) Giorgi Tkeshelashvili declares that introduction of 4G technology will bring the country investments of up to 300 million lari.

   About 100 million lari will be paid to the budget as license fee, while remained 100-200 million lari will be invested, Tkeshelashvili says.

2. “SILK ROAD GROUP” AND PROPARCO TO DEVELOP RENEWABLE ENERGY RESOURCES IN GEORGIA
   (Daily News: May 13, 2014)

   Silk Road Group reported about memorandum on renewable energy resources’ development, signed with PROPARCO (development financial institution, co-held by AFD and private shareholders).

   As the Group pointed, several new investment projects are under consideration, envisaging construction of power stations with total capacity of 300 MW.

3. Bankebi da Finansebi: ““PANORAMA TBILISI” NOT TO BE IMPLEMENTED”
   (Economic Press Monitor: May 13, 2014)

   Referring to unconfirmed information, the newspaper reports that billionaire Bidzina Ivanishvili (former Prime Minister) changed his mind to finance project Panorama Tbilisi.

   The project envisaged construction of 4 multipurpose complexes in historic center of Tbilisi (Sololaki Heights, Sololaki Gardens, Liberty Square and Erekle II Square), having total cost of $500 million, while its implementation had to launch in 2015.

4. ECONOMY MINISTER REVIEWED PROJECTS ONGOING IN THE COUNTRY WITH REPRESENTATIVES OF BUSINESS ASSOCIATION
   (Daily News: May 8, 2014)

   Minister of Economy and Sustainable Development Giorgi Kvirikashvili and business-ombudsman Giorgi Gakharia held a meeting with members of guardianship board of Georgian Business Association.

   As the Ministry reported, discussion at the meeting scoped economic reforms of the government, as well as ongoing and future projects, including ones in manufacturing, infrastructure, tourism, agriculture and energy.

5. ECONOMY MINISTER: THERE ARE SECTIONS WITHIN KARS-AKHALKALAKI RAILWAY PROJECT, WHERE 80% OF WORKS ARE COMPLETED
   (Daily News: May 7, 2014)

   Georgia’s Economy and Sustainable Development Minister Giorgi Kvirikashvili declared that there are sections within Kars-Akhalkalaki railway project, where 80% of construction works are already completed.

   “Construction of Akhalkalaki station is at the initial stage, while the whole project will be completed by the end of 2015”, the Minister pointed.

6. FINANCE MINISTER: ONE OF THE MAIN TASKS FOR THE GOVERNMENT AS WELL AS FOR BUSINESS CIRCLES TO BE DEVELOPMENT OF CAPITAL MARKET
   (Daily News: May 7, 2014)

   Georgia’s Finance Minister Nodar Khaduri declared that “unfortunately, development of capital market in Georgia did not pass fetal condition”. “One of the main tasks for Georgian government as well as for business circles to be development of capital market, as population should be able to use own even small savings for investments”, he declared.

7. Bankebi da Finansebi: “WHEN AND UNDER WHAT CONDITIONS WILL BECOME CAR INSURANCE COMPULSORY”
   (Economic Press Monitor: May 7, 2014)

   As it is known, presumably from 2015, compulsory car insurance and technical testing will be introduced.

   Price of technical testing will make up 48 lari, but the experts point that bringing some cars in compliance with requirements of testing will cost more than car price is.

8. Versia: “NO PERSON TO BE OPPRESSED, THE COMPANY HAS TO FULFILL LIABILITIES, OTHERWISE YOU SHOULD ACT IN ACCORDANCE WITH LAW!”
   (Economic Press Monitor: May 7, 2014)

   Against the background of Rustavi drivers’ permanent protests and tragic incident (one of the drivers committed suicide), Prime Minister Irakli Garibashvili arrived to Rustavi.

   Garibashvili met with governor of Kvemo Kartli Giorgi Mgebrishvili and acting Rustavi Mayor David Jikia and demanded to resolve problem with drivers of Tbilisi-Rustavi minibus routes.

9. Versia: “AGGRIEVED BUSINESSMEN AND GEORGIAN VENDETTA – WHO WILL BE NEXT”
   (Economic Press Monitor: May 7, 2014)

   Savage beating of David Kodua by Noshrevan Namoradze “is the first attempt of revenge, committed under pretext of justice restoration, which should be alert for Georgian government”, the newspaper states.

   “If the government had investigated during the past year and a half even one fact, related to property seizure or handing over of business (under the previous government), this incident presumably would not have happened on May 3 in Barnov Street (in Tbilisi)”, the article says.

10. TOURISM ADMINISTRATION INITIATED SPECIAL TOURISM PACKAGES’ CREATION
    (Daily News: May 5, 2014)

    Today, head of Georgia’s National Tourism Administration Giorgi Sigua held meeting with representatives of 14 air companies and 28 hotels.

    The discussion touched upon joint plans and active marketing campaign, as well as solutions of existing legislative and infrastructural problems of the field, the Administration said.

11. Versia: “GOALS AND PLANS OF GIORGI BARAMIDZE”
    (Economic Press Monitor: May 2, 2014)

    Newly appointed head of Competition Agency Giorgi Baramidze points that the Agency has been built practically from scratch. At this stage budget of the Agency makes up 510,000 lari.

12. “TNT”, “DHL”, “UPS” AND “FEDEX” REPRESENTATIVES HELD PROTEST ACTION BECAUSE OF DRAFT BILL “ON MAIL SERVICE”
    (Daily News: May 1, 2014)

    Today, representatives of TNT, DHL, UPS and FedEx held protest action in front of Economy and Sustainable Development Ministry. Georgian offices of these express delivery companies had suspended operation for 2 hours and expressed their “extremely negative attitude” regarding draft bill “On Mail Service”.

13. BIDS INVITATION ON WIND POWER PLANT’S CONSTRUCTION IN GORI TO BE ANNOUNCED IN JUNE
    (Daily News: May 1, 2014)

    Georgian Energy Development Fund reported that it will announce bids’ invitation on construction of wind power plant in Gori (Shida Kartli region) in June.

    Director of the Fund Giorgi Bezhuashvili told Sarke that feasibility study of the project has been already completed, decreasing estimated cost of the project from initial $30 million to $24-26 million.

14. Rezonansi: “THE GOVERNMENT DELIBERATELY DEVALUATES LARI?”
    (Economic Press Monitor: May 1, 2014)

    The article reports that lari rate was varying within 1.73-1.74 GEL/USD in March, while new wave of devaluation has launched in mid-April. Since then, national currency has been falling daily in respect of both major currencies, the US dollar and euro, the newspaper notes.

15. Rezonansi: ““DREAM” OASIS FOR “NATIONAL” BUSINESSMEN”
    (Economic Press Monitor: April 29, 2014)

    The newspaper recalls one of the first declarations of Nodar Khaduri, made after his enter in office of Finance Minister. The Minister said then that under the previous government “There was no end of organizations, which were not subjected to tax legislation.

16. “GWP” HAS NEW DIRECTOR GENERAL
    (Daily News: April 28, 2014)

    GWP (Tbilisi water and sewerage company) declared that board of directors has appointed Giorgi Gachechiladze as director general.

    Until became the director general of GWP, Giorgi Gachechiladze has headed the company’s crisis management headquarters.

17. Bankebi da Finansebi: “STATE BANK – WHEN THE ORDER OF THE SUMMANDS DOES NOT AFFECT THE SUM”
    (Economic Press Monitor: April 25, 2014)

    It is known at this stage that “multiple times announced Sovereign Fund will not be established, which establishment process consumed quite significant amounts for consulting service”, the newspaper reports.

    “It is also apparent that state structure, having development profile, will be established after reorganization of Partnership Fund, while it is not defined so far if this structure will be called fund or bank”, the article points.

18. Bankebi da Finansebi: “NEW SHAREHOLDER OF “INVESTBANK” REPLACED SUPERVISORY BOARD AND MANAGEMENT”
    (Economic Press Monitor: April 24, 2014)

    The newspaper reports that Lasha Khoperia was appointed as new director general of Investbank, while Giorgi Gzirishvili – as director.

    Changes apply to 3-member supervisory board also.

19. GIORGI SOMKHISHVILI TO HEAD MUNICIPAL DEVELOPMENT FUND
    (Daily News: April 23, 2014)

    Prime Minister Irakli Garibashvili appointed Giorgi Somkhishvili as director of Georgia’s Municipal Development Fund.

    Somkhishvili works in the Fund since 2012, being deputy director until 2013, while served as advisor to the director since 2013.

20. Rezonansi: “LOSS OF DRINKING WATER REACHES 40%”
    (Economic Press Monitor: April 22, 2014)

    According to Georgian National Energy and Water Supply Regulating Commission (GNERC), United Water Company of Georgia, serving regions, has installed individual meters to 41.5% of its consumers. At that, loss of water in the company’s network makes up 30% on average.

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