DEPUTY MINISTER FOR SPORT AND YOUTH AFFAIRS: INVESTMENTS IN DIRECTION OF SOCIAL BUSINESS MUST GROW

Revaz Javelidze, Deputy Minister for Sport and Youth Affairs, pointed that “multiple social enterprises” were founded in Tbilisi and regions as a result of cooperation with non-governmental sector.

“Last year, we financed 26 such projects, this year - 18, while within 4 years, in total 60 enterprises were founded”, Javelidze reported, specifying that “about 1 million lari was spent for these projects, 200 people are employed in this direction”. More...

GEORGIAN PARTNERSHIP FUND AND CHINESE “SINOSURE” AGREED ON COOPERATION

Georgian Partnership Fund and China Export&Credit Insurance Corporation (SinoSure) signed today memorandum on cooperation.

The document signed in Beijing envisages joint work of the parties within China’s initiative “One Belt One Road” and creation of bilateral working group, the Fund said. More...

REGULATING COMMISSION REDUCED HEAT STATIONS’ TARIFFS FOR THIS YEAR

National Energy and Water Supply Regulating Commission declared that thermal power plants’ electricity generation tariffs for this year were discussed today.

As the Commission said, “proceeding from a difference between planned and factual data”, reduction of tariffs was decided. More...

“AIR CAIRO” TO CONDUCT REGULAR FLIGHTS TO TBILISI SINCE NOVEMBER

Egyptian carrier Air Cairo will begin regular flights on Cairo-Tbilisi route since November 3, Georgian Ministry of Economy and Sustainable Development reported. The flights will be conducted 2 times a week (Mondays and Thursdays) by Airbus 320. More...

AS OF JUNE 30, “ALDAGI” ACCOUNTS FOR 66.2% OF TOTAL PENSION CONTRIBUTIONS

State Service for Insurance Supervision reported that pension contributions within private pension schemes have totaled as of June 30 to 2.46 million lari, increasing by 55% year-on-year.

Out of total, Aldagi accounts for 66.2% (1.63 million lari, growth - 18.8%). More...

IN PORTFOLIO OF “PSP INSURANCE”, MEDICAL INSURANCE ACCOUNTS FOR 80.4%

State Service for Insurance Supervision reported that in total premium, attracted by PSP Insurance as of June 30, share of medical (health) insurance makes up 80.4%. In this segment, the company attracted 21.94 million lari (year-on-year growth - 1.2%). More...

IN PORTFOLIO OF “ARDI INSURANCE”, MEDICAL INSURANCE ACCOUNTS FOR 67.4%

State Service for Insurance Supervision reported that in total premium, attracted by Ardi Insurance as of June 30, share of medical (health) insurance makes up 67.4%. In this segment, the company attracted 12.92 million lari (year-on-year growth - 31.6%). More...

IN PORTFOLIO OF “IRAO”, MEDICAL INSURANCE ACCOUNTS FOR 55.3%

State Service for Insurance Supervision reported that in total premium, attracted by Irao as of June 30, share of medical (health) insurance makes up 55.3%. In this segment, the company attracted 8.1 million lari (year-on-year growth - 5.3%). More...

ECONOMY MINISTRY: LOCATION MANAGERS AND PRODUCERS FROM HOLLYWOOD PAY VISIT TO GEORGIA

Ministry of Economy and Sustainable Development reported that location managers and producers from Hollywood have arrived to the country within “Take a Film in Georgia” (movie industry promoting component of “Produce in Georgia” state program).

During a week (September 22-30), the guests will visit Batumi, Tskaltubo, Chiatura, Tbilisi, Kazbegi and Rustavi for selection of locations, the Ministry said. More...

Eugeorgia.Info: “EUROPEAN COMMISSION LAUNCHES NEW PROJECT, PROMOTING BLUE ECONOMY IN THE BLACK SEA REGION”

“Nowadays, the Black Sea is among those few exceptions in Europe’s sea, which lack general strategy”, European Commissioner for Maritime Affairs and Fisheries Karmenu Vella declared. In order to assist to this sphere, technical assistance program of European Commission should be launched, within which 1 million EUR will be spent, he said. More...

Forbes Georgia: “GURIA’S “BLUEBERRY” – “NEW FRUIT” WITH BIG PROSPECTS”

Blueberry saplings were brought to Georgia for the first time from the US in 2006, while were planted in 2007-2008 in Imereti, Guria and Samegrelo regions, the magazine reports.

According to Sakstat, Georgia’s export of blueberry and similar berries amounted in 2016 to $474,000. More...

Tabula: “DESIRE TO SUPPLY APPLES TO THE MINISTRY WAS EXPRESSED BY ONLY ONE COMPANY”

Tender for supply of apples to schools was applied by LLC Kepka only, Tabula reports.

The company is ready to supply 260,000 apples to the Ministry of Public Education and Sciences for 69,940 lari that is by 9,000 lari lower than estimated cost, declared by the Ministry, the article specifies. More...

Bankebi da Finansebi: “NATIONAL COMMUNICATION COMMISSION WORKS ON POSSIBLE REDUCTION OF INTERNET PRICES”

National Communication Commission starts research, aiming establishment of how much correspond prices on the local wholesale internet market to service quality, the newspaper reports. This information was announced at the Forum of Internet Governance, held in Georgia on September 11-12. More...

DEVELOPMENT OF THE AGRICULTURAL SECTOR – JANUARY-JUNE, 2017

In the agricultural sector:

- In the last eight years, total production output has fluctuated between 7.8% and 10.3% of gross domestic product;

- In the first quarter of 2017, foreign direct investment amounted to negative US$0.3 mln;

- In the first half of 2017, the volume of loans in the national currency almost reached the volume of loans in foreign currencies;

- In the first half of 2017, the volume of imports was 2.4 times the volume of exports.

In the first half of 2017, the agricultural sector contributed 9% (GEL 635.1 mln) of gross domestic product. More...