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Daily News

October 16, 2017

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economics

    FINANCE MINISTER: WE ARE VERY CLOSE TO CREDIT RATING, AFTER WHICH GEORGIA TO GET OPPORTUNITIES FOR NEW INVESTMENTS’ ATTRACTION TO THE COUNTRY

    Finance Minister Dimitri Kumsishvili declared that “We are very close to credit rating, after which opportunities will be opened to Georgia for attraction of new investments to the country”.

    Kumsishvili pointed that “raise of sovereign credit ratings of the country is very important for attraction of institutional investors”.


    FINANCE MINISTER: GEORGIA WILL HAVE NEW FRAMEWORK AGREEMENT ON COOPERATION WITH WB

    Finance Minister Dimitri Kumsishvili declared that in 2018, Georgia will have new framework agreement on cooperation with the World Bank (WB), which will define main priority directions.

    “Until now, we have implemented many successful projects, including regional development projects, which we will surely continue”, Kumsishvili said, noting: “components of education and innovations will be surely added to them”.


    THE PREMIER: IN 2017, WE HAVE GROWTH OF 36% IN DIRECTION OF INFRASTRUCTURE PROJECTS

    “In 2017, we have growth of 36% in direction of infrastructure projects”, Prime Minister Giorgi Kvirikashvili declared. “In 2016, expenses in this direction made up within 970 million lari, while we will finish the current year with exceeding of over 1.35 billion lari that makes up growth of 36-37%”, he specified.


    TBILISI SUBWAY ADDED THE 23RD STATION

    Today, University station (the 23rd in row) of Tbilisi subway was opened, which construction was conducted with assistance of Asian Development Bank (ADB). Investments into the project amounted to 84 million lari.


    ENERGY MINISTRY: FOR THE FIRST TIME IN THE REGION, GEORGIA HOSTS INTERNATIONAL EDUCATIONAL PROGRAM ON ENERGY EFFICIENCY

    Energy Ministry declared that world-level educational program on energy efficiency was opened in Tbilisi today. Educational courses were conducted annually in France, while this year training for the first time in the region is held in Georgia, the Ministry pointed.


business

    OWNER OF 74.64% IN “LIBERTY BANK” BECAME “EUROPEAN FINANCIAL GROUP”

    According to recent statement of Liberty Bank, stake of 74.64% in the bank was acquired by European Financial Group BV, “a company established and organized under the laws of the Kingdom of Netherlands”.

    As a result of the deal, ultimate beneficial owners became Irakli Rukhadze (the US), Ben Marson (the UK) and Igor Alekseev (the US), the bank said.


    NEXT YEAR, “WIZZAIR” TO LAUNCH KUTAISI-ATHENS FLIGHTS

    Lowcoster WizzAir will start flights between Kutaisi and Athens on May 17, 2018, Ministry of Economy and Sustainable Development reported.

    The flights will be conducted twice a week (Thursdays and Sundays).


    WITHIN “PRODUCE IN GEORGIA”, SPRING WATER ENTERPRISE OPENED IN AMBROLAURI

    Within “Produce in Georgia” state program, LLC Itsis Tskali (Itsi Water) launched spring water enterprise in Ambrolauri (Racha region), Ministry of Economy and Sustainable Development reported, specifying that the company is beneficiary of both components of the program (financial and infrastructure support).

    In particular, the Ministry’s Agency Produce in Georgia will co-fund interest of credit of 800,000 lari, which Itsis Tskali has borrowed for creation of the enterprise (financial component).


    LLC “HERBIA” TO GET THE STATE-OWNED REAL ESTATE THROUGH DIRECT SALE

    According to order of the government, state-owned real estate will be handed over to LLC Herbia through direct sale for symbolic price of 1 lari within “Produce in Georgia” state program.

    The matter concerns nonagricultural land plot of 23,536 square m with constructions, located on Queen Tamar Street in Tskaltubo (Imereti region).


society

    EMC: CONSTITUTIONAL COURT RULED UNCONSTITUTIONAL CLOSING OF ACTS OF LABOR INSPECTIONS

    Human Rights Education and Monitoring Center (EMC) declared that Constitutional Court ruled unconstitutional the rule of Department of Labor Inspection, according to which acts on inspections are closed. The claim was submitted jointly by EMC and noncommercial organization Ertoba-2013 (Unity-2013).


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