Daily News

IN THIS ISSUE:

Efficiency of free industrial zones, existing in Georgia, is essentially low, states the article, published in Economics and Banking, journal of National Bank of Georgia (NBG).

Author of the article (Besik Bolkvadze, doctor of economics, associate professor of Batumi State University) indicates that main profiles of these zones are manufacturing, warehousing and logistics facilities, that is why they are mostly traditional and lack innovative systems.

Areas, envisaged for free tourist zones in Georgia, turned out to be economically inactive and adjusted only for seasonal loading, points the article published in Economics and Banking, journal of National Bank of Georgia (NBG).

Author of the article (Besik Bolkvadze, doctor of economics, associate professor of Batumi State University) indicates that creation of these zones was preceded by neither economic research nor study of foreign experience.

National Bank of Georgia (NBG) said that it has accomplished by the end of 2020 key works on transition to International Financial Reporting Standards (IFRS).

Commercial banks of the country are expected to start submitting (voluntarily) IFRS-based financial statements after the 1^st quarter of this year, the NBG pointed.

Georgian Stock Exchange reported that shares of Green Insurance Georgia have been admitted since December 28, 2020 to the listing of category “B”. The emission was made on December 24, 2020.

LLC Tkbili Kvekana (Sweet Country, confectionery production) reported profit of 2.1 million lari for 2019. According to audited report of the company, the volume has decreased by 14.7% year-on-year.

LLC Gino Park reported loss of 8.2 million lari for 2019. According to audited report of this multifunctional aquapark complex, the volume has increased 3.1 times year-on-year.

LLC Europark reported profit of 6.3 million lari for 2019. According to audited report of this aquapark complex, loss for 2018 made up 980,301 lari.