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Daily News


April 13, 2018

IN THIS ISSUE:

1. THE GOVERNMENT PLANS TO PROVIDE STARTING CAPITAL TO SME
2. FISCAL COMMITTEE CHAIR: EXPENSIVE CREDITS IS A COMPLEX TOPIC
3. RULES OF FINANCIAL ORGANIZATIONS’ CUSTOMERS PROTECTION TO BE AMENDED
4. ECONOMY MINISTRY DRAFTS BILL ON ENERGY EFFICIENCY OF BUILDINGS
5. ECONOMY MINISTRY: CHINA CONSIDERS POSSIBILITY OF FINANCIAL ASSISTANCE FOR ATTRACTION OF RAILWAY CONTAINERS IN DIRECTION OF GEORGIA
6. HOLDING OF GEORGIAN-CHINESE BUSINESS FORUM IN TBILISI IS PLANNED FOR SUMMER
7. GEORGIAN TOURISM ADMINISTRATION SIGNED MEMORANDUM OF UNDERSTANDING WITH SUBSIDIARY OF CHINESE “ALIBABA”
8. FINANCE MINISTRY: “MICROSOFT” SUPPORTS IDEA OF DIGITAL SILK ROAD
9. MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: POSSIBILITY OF COOPERATION WITH TURKISH “STARWOOD” IS CONSIDERED
10. SAUDI “FLYNAS” TO LAUNCH OPERATION IN GEORGIA

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1. THE GOVERNMENT PLANS TO PROVIDE STARTING CAPITAL TO SME
Economics

On April 12, Georgian government announced “Reform of Starting Capital Provision”.

As Prime Minister Giorgi Kvirikashvili declared, “The government and economic team work very actively in order to encourage injections in the capital for small and medium business”.

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2. FISCAL COMMITTEE CHAIR: EXPENSIVE CREDITS IS A COMPLEX TOPIC
Economics

“Expensive credits is a complex topic, we should not take this problem only one-sidedly”, chairman of the Parliament’s Fiscal Committee Irakli Kovzanadze declares.

Kovzanadze indicated that “in recent years, interest rates on credits decreased, though they are still high that is characteristic of developing countries”.

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3. RULES OF FINANCIAL ORGANIZATIONS’ CUSTOMERS PROTECTION TO BE AMENDED
Economics

Amendments are drafted to rules of customer protection during provision of service by financial organizations, National Bank of Georgia (NBG) reported. The financial organizations will be subjected to these amendments since May 14, NBG said.

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4. ECONOMY MINISTRY DRAFTS BILL ON ENERGY EFFICIENCY OF BUILDINGS
Economics

Irma Kavtaradze, Deputy Minister of Economy and Sustainable Development, pointed that “after joining to Energy Community, Georgia undertook certain obligations, including rapprochement of respective legislation with [European] directives on energy efficiency”. She indicated that “the Economy Ministry works now on the draft bill, which concerns issues of energy efficiency in buildings”.

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5. ECONOMY MINISTRY: CHINA CONSIDERS POSSIBILITY OF FINANCIAL ASSISTANCE FOR ATTRACTION OF RAILWAY CONTAINERS IN DIRECTION OF GEORGIA
Economics

China considers possibility of financial assistance for attraction of railway containers in direction of Georgia, Georgian Ministry of Economy and Sustainable Development declared.

Chinese side expressed readiness to study possibility of subsidizing of block-trains, which will go from various cities of China to Georgia, the Ministry said.

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6. HOLDING OF GEORGIAN-CHINESE BUSINESS FORUM IN TBILISI IS PLANNED FOR SUMMER
Economics

Holding of meeting of Georgian-Chinese intergovernmental commission and, within its framework, of a business forum is planned in Tbilisi for this summer, Georgian Ministry of Economy and Sustainable Development declared.

As the Ministry noted, holding of the mentioned events in Tbilisi was offered to Chinese side by Deputy Premier and Minister of Economy and Sustainable Development Dimitri Kumsishvili within his visit to China (April 12-13).

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7. GEORGIAN TOURISM ADMINISTRATION SIGNED MEMORANDUM OF UNDERSTANDING WITH SUBSIDIARY OF CHINESE “ALIBABA”
Economics

Georgian National Tourism Administration signed memorandum of understanding with Fliggy, tourism online platform of Chinese corporation Alibaba, Georgian Ministry of Economy and Sustainable Development reported. The memorandum aims addition of Georgia as destination on this tourist platform.

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8. FINANCE MINISTRY: “MICROSOFT” SUPPORTS IDEA OF DIGITAL SILK ROAD
Business

Microsoft supported the idea on implementation of Digital Silk Road, Georgian Finance Ministry declared. In this connection, Georgian University of Business and Technologies and Microsoft Georgia signed the memorandum of cooperation on April 12.

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9. MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: POSSIBILITY OF COOPERATION WITH TURKISH “STARWOOD” IS CONSIDERED
Business

Turkish wood processing company Starwood is ready to open enterprise in Georgia, Georgian Ministry of Environmental Protection and Agriculture declared. This readiness is conditioned with sufficient provision with wood resources (wastes).

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10. SAUDI “FLYNAS” TO LAUNCH OPERATION IN GEORGIA
Business

Saudi low-coster Flynas will launch regular flights to Georgia on June 1, Georgian Civil Aviation Agency reported. The airline already got respective permission.

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