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Daily News

May 5, 2017

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politics

    FINANCE MINISTRY: RELATIONS BETWEEN GEORGIA AND JAPAN DEVELOP DYNAMICALLY

    Relations between Georgia and Japan dynamically develop both in bilateral and in multilateral formats, Georgian Finance Ministry stated.

    Within visit to Japan (where annual meeting of Asian Development Bank (ADB) has been held), Georgia’s First Vice Premier and Finance Minister Dimitri Kumsishvili met with his Japanese counterpart Taro Aso.


    THE EU TO ALLOCATE 32M EUR TO GEORGIA IN SUPPORT OF ASSOCIATION AGREEMENT’S IMPLEMENTATION

    Financial agreement, envisaging allocation of 32 million EUR by the EU to Georgia, was signed in Tbilisi today, within visit of Commissioner for European Neighborhood Policy and Enlargement Negotiations Johannes Hahn to Georgia.

    The funds, within Technical Cooperation Facility (TCF), are designated for support of implementation of the EU-Georgia Association Agreement.


economics

    FINANCE MINISTER: ADB INCREASED INVESTMENT LIMIT FOR GEORGIA FROM $200M TO $350M

    Georgia’s First Vice Premier and Finance Minister Dmitry Kumsishvili declared that Asian Development Bank (ADB) agreed to raise an investment limit for Georgia from $200 million to $350 million.

    Besides, new 3-year budgetary support program will be prepared with ADB, Kumsishvili said after meeting with ADB president Takehiko Nakao, held in Japan (Yokohama).


    FINANCE MINISTRY: ADB WILL FINANCE CONSTRUCTION OF BATUMI BYPASS ROAD AND KHARAGAULI-CHUMATELETI SECTION OF EAST-WEST HIGHWAY

    Georgian Finance Ministry declared that Asian Development Bank (ADB) has agreed to fund construction of Batumi bypass road and Kharagauli-Chumateleti section of East-West highway (E60). For that end, ADB will allocate $140 million and $90 million, respectively.


    BUSINESS FORUM “BATUMI-WROCLAW” TO BE HELD IN AJARA

    Ajara government declared that business forum “Batumi-Wroclaw” will be held on May 12. The forum will gather Polish and Georgian businessmen.


    FINANCE MINISTRY: “NORDIC INVESTMENT BANK” PLANS INVESTMENTS IN NEW TECHNOLOGIES IN GEORGIA

    Nordic Investment Bank plans investments in Georgia in the sphere of new technologies, Georgian Finance Ministry declared.

    The Ministry said that these plans were considered at the meeting between president of Nordic Investment Bank Henrik Normann and Georgia’s First Vice Premier and Finance Minister Dimitri Kumsishvili, which held within the latter’s visit to Japan.


    NBG: LIQUID ASSETS MAKE UP 23% OF BANKING SECTOR’S TOTAL ASSETS

    National Bank of Georgia (NBG) reported that liquid assets account for 23% of the banking sector’s total assets. It is enough for covering of 41% of non-bank deposits, annual report of NBG for 2016 specifies.


business

    IN GEORGIA, “SCAT AIRLINES” EXPANDS DESTINATIONS’ LIST, WHILE “TABAN AIRLINES” INCREASES FREQUENCY OF FLIGHTS

    Kazakhstan’s SCAT Airlines will operate in all three international airports of Georgia (Tbilisi, Kutaisi and Batumi), Ministry of Economy and Sustainable Development reported.

    In particular, the airline will start on May 22 regular flights from Aktau to Kutaisi (2 times a week), while resume regular flights between Aktau and Batumi on June 2 (4 times a week).


    ISRAELI COMPANIES TO TAKE PART IN ESTABLISHMENT OF FISHERY IN GEORGIA

    Georgian Partnership Fund signed memorandum of understanding with Israeli companies, Aquamaof Aquaculture Technologies and JVS IG Capital Investment, which envisages establishment of fishery in Georgia.

    As the Fund said, the Israeli side undertakes to study the sector and to submit detailed investment plan for the project, while the Fund will join the project implementation as the local partner, after consideration and approval of this plan.


    “AVAZA” TO LAUNCH WASTE PROCESSING WITHIN “PRODUCE IN GEORGIA” PROGRAM

    Ministry of Economy and Sustainable Development declared that LLC Avaza will begin processing of plastic waste and scrap metal within “Produce in Georgia” state program.

    The company will launch enterprise in Batumi in January 2018 and will employ 10 people at the initial stage, the Ministry said.


society

    CRIMINAL PROSECUTION LAUNCHED AGAINST HEADS OF 36 PSYCHOTROPIC DRUGSTORES

    The Finance Ministry’s Investigative Service declared that criminal prosecution is launched against 18 heads of 36 psychotropic drugstores because of illegal entrepreneurial activity.

    These drugstores had systematically sold to citizens, including minors, psychotropic and subjected to special control medicines without prescription, the Service said.


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