GEORGIA ADOPTED BILL “ON ENVIRONMENTAL RESPONSIBILITY”

On the plenary session today, Georgian Parliament adopted the draft law “On Environmental Responsibility”.

As the Ministry of Environmental Protection and Agriculture declared, the document aims legal regulation of issues, related to environmental damage, according to the principle “polluter pays”. More...

THIS YEAR, UP TO 22M LARI TO BE SPENT FOR INNOVATION ECOSYSTEM’S DEVELOPMENT

Avtandil Kasradze, chairman of Georgian Agency of Innovations and Technologies, declared that up to 22 million lari will be spent on development of national ecosystem of innovations in 2021, while the Agency’s projects will include over 10,000 beneficiaries in total.

Kasradze said the mentioned, while reporting today on the progress of state programs in the field of innovation at the meeting of the Parliament’s Committee on Branch Economy and Economic Policy. More...

THERE ARE 19 STATE AND 45 PRIVATE UNIVERSITIES IN THE COUNTRY

Sakstat reported that by academic year 2020/2021, Georgia had 19 state and 45 private universities. Compared to the previous academic year, the number of state universities has not changed, while the number of private universities has increased by 2. More...

IN 2020, NUMBER OF STUDENTS ENROLLED IN PROFESSIONAL EDUCATIONAL PROGRAMS DECREASED BY 18.5%

Sakstat reported that 9,399 students were enrolled in 2020 in professional educational programs in Georgia. If compared to 2019, the number has reduced by 18.5%. More...

LLC “SAKAERONAVIGATSIA” PASSED RE-CERTIFICATION

Georgian Civil Aviation Agency re-certified LLC Sakaeronavigatsia (Georgian Air Navigation). As the Agency said, the certification process lasted 6 months, and new certificate was issued to the LLC today. More...

INTEREST EXPRESSION ANNOUNCED FOR HOTHOUSE CLUSTER DEVELOPMENT IN “IMERETI AGROZONE”

Georgian Ministry of Environmental Protection and Agriculture declared about start on March 1 of applications’ acceptance in connection with development of hothouse cluster in the Imereti Agrozone. Applications will be accepted until April 30. More...

“HALYK BANK GEORGIA” FINISHED 2020 WITH LOSS

Halyk Bank Georgia reported loss of 12.9 million lari in 2020. According to quarterly report of the bank, it had net profit of 7.6 million lari in 2019. More...

IN 2020, PROFIT OF “SWISS CAPITAL” INCREASED BY 38.4%

Swiss Capital reported net profit of 4.98 million lari for 2020. According to financial report of this Georgian microfinance organization, the volume has increased by 38.4% year-on-year. More...

Rezonansi: “CONSTRUCTION OF “NAMOKHVANHES” CAME TO A STANDSTILL, THE GOVERNMENT IS ALREADY IN DESPAIR”

Protests of the population, directed against construction of hydroelectric power stations, hinder the energy sector, the newspaper points. The problem is in lack of proper communication between Georgian government and public. More...

Bankebi da Finansebi: “ANDRIA GVIDIANI: IT IS ANOMALOUS THAT 250,000 RESIDENTS OF DE-FACTO ABKHAZIA CONSUME THE SAME VOLUME OF ENERGY AS 1.2-MILLION TBILISI”

Analyst Andria Gvidiani says that “in de-facto Abkhazia, there is complete chaos from the point of view of electricity consumption”, and “underground mining” of crypto-currency is flourishing there.

In particular, only 250,000 people live in the de-facto Abkhazian Republic, but they consume electricity of 2.5 billion kWh, i.e. the same volume, as 1.2 million residents of Tbilisi, Gvidiani points. More...

Bankebi da Finansebi: ““IF BUSINESSES CANNOT AGREE AMONG THEMSELVES, SHOULD REGULATING COMMISSION BEAT US ON HEAD?” – “MAGTICOM” CATEGORICALLY OPPOSES ENTRY OF VIRTUAL OPERATORS”

Gia Jokhtaberidze, founder of Georgian telecom operator MagtiCom, categorically opposes admission of a mobile virtual network operator (MVNO) to the local market, the newspaper says.

At the committee meeting in Georgian Parliament, Jokhtaberidze put a question in connection with MVNO to Irakli Butbaia, head of legal department at Georgian National Communication Commission. More...

Forbes Georgia: “AMERICAN GIANT “FIDELITY” ACQUIRED 6.15% OF SHARES OF “SAKARTVELOS BANKI””

In 2020, American asset management fund Fidelity Investments Inc acquired stake of 6.15% in Bank of Georgia PLC, the parent structure of Georgia’s second largest Sakartvelos Banki (Bank of Georgia), the magazine reports.

The article specifies that for the first time, Fidelity Investments appeared among the bank’s shareholders in the 2^nd quarter of 2020. More...

GEORGIAN ECONOMIC CLIMATE (Q1, 2021)

Georgian Economic Climate is a product of PMC Research Center. In this bulletin, we discuss Georgia’s economic climate as assessed by Georgian economists. More...