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Daily News


January 10, 2019

IN THIS ISSUE:

1. DEPUTY ECONOMY MINISTER: THE WB FORECAST WILL POSITIVELY AFFECT INVESTORS’ MOOD
2. GEORGIA HAS AGREEMENTS ON DOUBLE TAXATION AVOIDANCE WITH 55 STATES
3. ON JANUARY 15, TECHNICAL REGULATIONS ON CONSTRUCTION PRODUCTS TO ENTER IN FORCE
4. REFORM OF LAND REGISTRATION PROLONGED UNTIL JULY 1
5. IN 2018, “PRODUCE IN GEORGIA” AGENCY ATTRACTED INVESTMENTS OF $56M
6. AIMING FACILITATION BERRIES’ CULTIVATION, USAID’S AGRICULTURAL PROGRAM STARTED ACCEPTANCE OF APPLICATIONS
7. GEORGIAN DESIGNERS, WHO TOOK PART IN PARIS FASHION WEEK LAST YEAR, SOLD PRODUCTION OF 620,000 EUR
8. “BGEO GROUP” TO BE HEADED BY ARCHIL GACHECHILADZE
9. IN Q4 OF 2018, COST OF OTC DEALS, CONCLUDED IN THE US DOLLARS, DROPPED 35 TIMES Y-O-Y
10. IN Q4 OF 2018, STOCK-EXCHANGE DEALS, CONCLUDED IN LARI, DROPPED 6.4 TIMES Y-O-Y, WHILE ONES IN THE US DOLLARS – 63 TIMES

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1. DEPUTY ECONOMY MINISTER: THE WB FORECAST WILL POSITIVELY AFFECT INVESTORS’ MOOD
Economics

In the updated report, published on January 8, the World Bank (WB) forecasts that Georgia’s economy will grow this year by 5%, while average growth rate for 2018-2021 will make up 5.1%, Georgian Ministry of Economy and Sustainable Development reported.

While commenting on the subject, Deputy Minister of Economy Ekaterina Mikabadze declared that such assessment of the WB “will positively affect investors’ mood, their desire to carry out commercial activity in the country”.

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2. GEORGIA HAS AGREEMENTS ON DOUBLE TAXATION AVOIDANCE WITH 55 STATES
Economics

Georgian Finance Ministry reported that currently the country has agreements on double taxation avoidance and suppression of tax evasion signed with 55 states.

Of them, agreement with Moldova entered in force in 2018.

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3. ON JANUARY 15, TECHNICAL REGULATIONS ON CONSTRUCTION PRODUCTS TO ENTER IN FORCE
Economics

On January 15, technical regulations on construction products will enter in force, Georgian Ministry of Economy and Sustainable Development declared. As the Ministry reminded, the regulations apply to cement, fittings, electric cables, plastic pipes.

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4. REFORM OF LAND REGISTRATION PROLONGED UNTIL JULY 1
Economics

Reform of land registration is prolonged until July 1, Georgian National Agency of Public Register declared.

The reform, launched on August 1, 2016, had initially to come to the end by July 1, 2018, but was extended until January 1, 2019.

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5. IN 2018, “PRODUCE IN GEORGIA” AGENCY ATTRACTED INVESTMENTS OF $56M
Economics

Georgian Economy and Sustainable Development Ministry’s Agency Produce in Georgia reported that it has attracted in 2018 investments pf $56 million.

At that, negotiations on projects, providing investments of $196 million, are at their final stages, the Agency pointed.

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6. AIMING FACILITATION BERRIES’ CULTIVATION, USAID’S AGRICULTURAL PROGRAM STARTED ACCEPTANCE OF APPLICATIONS
Economics

USAID-backed agricultural program started acceptance of applications within the partnership-based grant program, which aims assistance to development of value chain of baccate crops in Georgia. Applications have to be submitted through January 31.

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7. GEORGIAN DESIGNERS, WHO TOOK PART IN PARIS FASHION WEEK LAST YEAR, SOLD PRODUCTION OF 620,000 EUR
Economics

As a result of participation in the Paris Fashion Week (September 27 – October 2, 2018), Georgian designers sold production of 380,000 EUR, Georgian Economy and Sustainable Development Ministry’s Agency Produce in Georgia reported. The Agency specified that the designers conducted export of 1,934 units of production (apparel).

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8. “BGEO GROUP” TO BE HEADED BY ARCHIL GACHECHILADZE
Business

Sakartvelos Banki (Bank of Georgia) declared that Bank of Georgia Group (BGEO Group) will be headed by Archil Gachechiladze. Respective decision was made by supervisory council of the bank.

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9. IN Q4 OF 2018, COST OF OTC DEALS, CONCLUDED IN THE US DOLLARS, DROPPED 35 TIMES Y-O-Y
Economics

Georgian Stock Exchange declared that total cost of OTC deals, concluded in the 4th quarter of 2018 in the US dollars, totaled to $1.06 million. If compared with the same period of 2017, the volume has decreased 35 times.

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10. IN Q4 OF 2018, STOCK-EXCHANGE DEALS, CONCLUDED IN LARI, DROPPED 6.4 TIMES Y-O-Y, WHILE ONES IN THE US DOLLARS – 63 TIMES
Economics

Georgian Stock Exchange reported that total cost of stock-exchange deals, concluded in lari in the 4th quarter of 2018, made up 24,139 lari. If compared with the same period of 2017, the volume has decreased 6.4 times.

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Exchange Rates (NBG)
  06/14/19 + / -
  USD   2.7468   0.0079
  EUR   3.0943   0.0029
  RUR   4.2700   0.0298
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Dear readers,

Wish you happy New Year! Let happiness, peace and prosperity be with you and your beloved ones in 2019!

We are leaving for New Year holidays and will resume operation on January 8. Until that, the site will not be updated.

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