Economies are ranked on their ease of doing business, from 1–190. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. The rankings are determined by sorting the aggregate scores on 10 topics,...
Italian company Azimut Yachts enter Georgia, deputy head of Azimut-Benneti, Stefano Crescenzi spoke on inauguration of the new branch company. Azimut-Benneti is a leading in the luxury yachts and mega yachts sector “A perfect synthesis of Italian living: tradition and innovation, style and technology,...
Compared to the same time last year Georgian Airports have seen 28% increase of visitors. In June-July number of passengers 2.719.920 in 2017 the same time Airports received 2.130.469 passangers. During the first seven months of 2018, Tbilisi International Airport served 2.104.161 passengers, 27% more...
According to “Best European Countries for Business 2018” the rating list of European Chamber, Georgia took 18th place out of 46. European Chamber rates countries depending on their business environment The rating scores depend on World Bank business making index and transparent corruption index...
The rate of economic increase in June 2018 was 4%. According to Geostat the rate of increase in second quarter of 2018 was 6%, and in January-June it was 5.7%. in 2018 notable increase was in transportation, restaurants, financial and trading areas. In June...
According to the National Bank of Georgia (NBG), $214 million was transferred from Russia to Georgia in the first six months of the year, while from EU countries, the amount of money transfered reached $255 million. The most amount of money transfered to Georgia...
According to National Statistics Office of Georgia (Geostat) the GDP of Georgia has increased by 4.0% in June 2018, and in first two quarters of 2018 the total increase has been 6.0%, also in first 6 months of 2018 the average actual increase has...
Affiliate of Azerbaijani company Socar, Socar Energy Group will increase its investment in Georgia by 7 million Laris in 2018. The company has just approved the investing plan According to Azerbaijani newspaper Trend the CEO of the company Mahir Mamedov has stated that the...
Francios Painchaud, Resident Representative of the International Monetary Fund (IMF) and Georgia’s Minister of Economy and Sustainable Development, Giorgi Kobulia held a meeting in Tbilisi, Georgia During the meeting Kobulia and Painchaud discussed current economic trends and scheduled reforms in Georgia, as well as...
National budget has seen increased income from national bank’s income. In first 6 months of 2018 national bank of Georgia has contributed 70 million Laris to national budget. According to gbc.ge the same period of 2017 National bank has had contributed 65 million Laris....
Import of tropical food is increased in Georgia, according to Geostat, in 2017 almost 21 million US dollars’ worth of tropical food has been imported in Georgia, which is 4 million USD more than 2016. The majority of fruit imported was banana, specifically in...
The majority of employed population of Georgia 286 859 people have salary of 500 Lari or less. These people represent total of 34.7% of employed population. 239 210 people (28.9% of employed population) have salary of 500 to 1000 Lari; 127 708 people (15.5%...
In 2017 Georgia has imported $101.9 million work of cigarettes. The number is slightly up from 2016 ($101.6 million). 2017 also saw growth in imports of cigars and cigarillos. Cigar imports increased 39% from 2016, a value of $651,000. As reported by Caucasus Business...
The partnership funds delegation, under the guidance of David Saganelidze, Executive Director of the Fund, was invited by the Chairman of the Technology Market Development Association of the Republic of China Reforms and Development Committee. The meeting was held in Shenzhen, Guangzhou. The Association...
On July 16-17, an inter-agency working group met in Kakheti will discuss ways to enhance automated processing and analysis of passenger data provided by airlines in Georgia. Representatives of the Revenues Service, the State Security Agency of Georgia and its Operational Technical Agency, and...
Georgian hotels in Tbilisi have fifth place in terms of service quality on Bookings.com according to MB.ge Shalva Alaverdashvili, Head of Restaurants Association, told BM.ge that Tbilisi ranks number 5, while Georgia ranks 18th place in terms of service level among European cities on...
Katarina Mathernova, Deputy Director-General for Neighborhood and Enlargement Negotiations at the European Commission has met EU project beneficiaries in Kvareli, Telavi and Lagodekhi to highlight EU support for the territory “The European Union has supported Kakheti for many years,” said Mathernova. “I met with...
Camille Bloch is planning to grow hazelnut in Georgia for its chocolate. The government of Guria have expressed mutual interest in developing hazelnut plantations and introducing new technologies to the sector. produces two popular brands of chocolate – Ragusa and Torino. GeoNuts he largest...
Georgia is strengthening trade relations with EU, CIS and other countries. In January-May 2018, trade turnover with European Union (EU) countries increased by 23% year-on-year (y/y) and amounted to $1.34 billion, shows the datafrom the National Statistics Office of Georgia (Geostat). Exports were worth...
Van Oord is the company that won the tender for construction of Anaklia Deep Sea Port announced by Anaklia Development Consortium (ADC). Van Oord was selected based on its technical and commercial offer. Within a month, Georgia and Anaklia will receive one of the most advanced and...
President of Italy Sergio Mattarella and Minister of Economic Development Michele Geraci have visited Georgia this week and met with Ministers of economics and sustainable development Giorgi Arveladze and Genadi Chikovani to discuss trade and economic relations between Georgia and Italy and opportunities for...
Income from tourism in Georgia has increased in 2018. In first six months of the years tourism has bought $1.36 billion to countries economy. The most of the amount was recorded in June with $325 million, which is 22% increase from the same period...
Ministry of Economy and Sustainable Development has released the statement on its official website that Government of Georgia and Government of People’s Republic of China have conducted on the first Draft Agreement of International Passenger and Freight transportation between two countries on July 3-4...
Number of passengers in leading airports of Georgia, Airport of Kutaisi and Airport of Tbilisi has increased by 30% and 28% this year, resulting in total 30% rise in passengers around the country (2,103,151 Passengers) Batumi Airport has shown increased activity as well with...
Georgia’s Minister of Finance, Nikoloz Gagua, signed loan and grant agreements yesterday with the Managing Director of the Scandinavian Environment Finance Corporation (NEFCO) and its head investments manager. NEFCO has decided to invest 2.83 mln EUR in a project to help make public buildings...
On July first The prime minister of Georgia has announced that small businesses will be taxed with new regime and will pay minimum tax burden (1%) this has also given the new definition to small businesses, whose annual income does not exceed 500 000...
Georgia has signed FTA (free trade agreement) with hong kong, according to the ministry of economy and sustainable development the FTA was negotiated in 2016 and aims to the eliminate or reduce tariffs, the liberalization of non-tariff barriers, ensure the flexibility regarding rules of...
According to the report of department of tourism and resorts of Adjara the number of tourists in first 2 quarters of 2018 has increased by 23%. The report states that 808 437 tourists have visited Adjara region in 2018 so far. Dolphinarium, botanical gardens...
On July 11th National Bank of Georgia had bought 10 million USD in order to strengthen the national currency. Georgia has faced drastic fall in value of national currency in 2016 and it has been fluctuating since then. The value of Georgian Lari today...
the global inclusion award was held at Riyadh, Saudi Arabian on July 3rd, the initiative honors those who thrive to better the economic citizenship of children and youth at the national, regional and international level. National Bank of Georgia has won the award...
According to National Statistics Office of Georgia (GEOSTAT) in 2017 international tourists have spent 5.761 billion Georgian Laris in Georgia which is 21.8% more than in 2016 The average spent on one visit was 888.7 Gel. According to GEOSTAT majority of the money tourist...
Ministry of Economy and Sustainable Development has released the statement on its official website that Government of Georgia and Government of People’s Republic of China have conducted on the first Draft Agreement of International Passenger and Freight transportation between two countries on July 3-4...
On the tributary of Enguri River in Svaneti a construction on Nenska Hydropower Plant has launched, JSC Partnership Fund and Korean K-Water company will be constructing the Plant together. “The Nenskra project itself is somewhat unique for Georgia and represents a huge source of...
David Peradze, CEO of Georgian Railway, and Alexander Doll, Member of the Board of Management for Freight Transport and Logistics at Deutsche Bahn have signed the final partnership agreement. The agreement ensures further joint projects in the rail freight sector and aims to...
In june 2018 the Digital Economic Association of Georgia (DEAG) has been established in Tbilis with more than 50 members already working to implement Blockchain Technologies in Georgia’s economy. Blockchain has already been implemented in several government sectors of Georgia and it does not...
Georgia’s Vice-Premier and Economy Minister, Dimitry Kumsishvili, and the Minister of Economy and Industry of Israel, Eli Cohen, signed a declaration on launching a feasibility study on free trade agreement negotiations between Georgia and Israel in Tbilisi, Georgia “I am sure that this process...
Another one of world’s best known brands to enter Georgian market. Starbucks will be opening its first store in Georgia in late 2018. Starbucks is American coffee company and coffeehouse chain that has been operating since 1971 and was founded in Seattle Washington. Starbucks...
Georgian-Swiss company Blauhuenstein Georgia is a meat production and preservation company based in Georgia. The company is planning to increase it’s investment in Georgia due to the success it has seen in the country, resulting from the bettering state of Georgian economics. The company...
Georgia’s mains spa town Tskaltubo will receive 30 mln for development and contruction as announced by the ministry economics and sustainable development The investment will transfer the area into mining place to harvest and process minerals Over three years, multiple tranches of money will...
International congress and Conversion Association has released 2017 ratings and Georgia has improved its rank compared to 2016 by 6 points. The ranking reflects on total number of meeting in the country and number of attendees. The Convention and Exhibition Bureau has 44 members...
Astana Global Economic Forum is one of the major economic events in the world, it is crucial platform for business projects around the world. In 2018 forum Keti Bochorishvili the director of Anaklia Project has presented the Anaklia Deep Seas Port and Anaklia Special...
Austrian Gebrüder Weiss has met with georgia’s prime minister Giorgi Kvirikshvili on April 19th and released the news to reporters. Austraian transport and Logistics Company will invest 2 additional milions in Georgia to expand its terminal. The company has already invested 10 million Euros...
Bruna Balvanera has told the reporters that investors are really interested in making investments in Georgia. EBRD director has said that number of investment in Georgia will significantly grow in next few years, which will benefit the country and population’s welfare. “This is not...
Latvia based company Evolution gaming has opened its first live casino in Georgia. The company already has live casinos in Latvia, Malta and Canada, making the one in Georgia Company’s third one. Company’s has 100 employees, Georgian and other Evolution production hub employees as...
H&M, Mango, Zara, Coast, Colveta, United Colors of Benetton, and Oasis brand clothes are to be manufactured in Georgia. The MGMTex will open factories in Kutaisi to start manufacturing their clothes in Georgia. The project will employ 250 people and will add 350 later....
First Vice Premier and Minister of Economy and Sustainable Development has stated that the most direct foreign investment in Georgia was made in 2017. As stated by the Statistical Office the volume of foreign investments in Georgia has increased by 16.2% compared to previous...