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Daily News


March 17, 2023

IN THIS ISSUE:

1. IN Q4 OF 2022, AVERAGE MONTHLY SALARY IN GEORGIA INCREASED BY 21.2% Y-O-Y
2. “GALT&TAGGART”: IN 2022, GEORGIA’S RE-EXPORT OF CARS DOUBLED DUE TO INCREASED DEMAND
3. GEORGIA AND UAE COMPLETED NEGOTIATIONS ON FREE TRADE AGREEMENT
4. GEORGIAN ECONOMY MINISTRY: UAE’S INTEREST IN GEORGIA IS LOCATED MAINLY IN AGRICULTURAL SECTOR, LOGISTICS, RETAIL
5. GEORGIAN INVESTMENT FORUM HELD IN LONDON
6. REHABILITATION OF THE SECTION OF TBILISI-TIANETI ROAD IS UNDERWAY
7. CONSTRUCTION WORK BEGINS TO PROVIDE ALTERNATIVE WATER SUPPLY TO GUDAURI
8. ASSETS OF “ELMAVALMSHENEBELI” SOLD AT THE SECOND AUCTION 2.5 TIMES CHEAPER THAN ORIGINALLY PLANNED

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1. IN Q4 OF 2022, AVERAGE MONTHLY SALARY IN GEORGIA INCREASED BY 21.2% Y-O-Y
Economics

Sakstat reported that in the 4th quarter of 2022, average monthly nominal salary in Georgia amounted to 1,773 lari. If compared with the same period of 2021, the volume has increased by 21.2%, or by 309.9 lari, Georgian statistics service noted.

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2. “GALT&TAGGART”: IN 2022, GEORGIA’S RE-EXPORT OF CARS DOUBLED DUE TO INCREASED DEMAND
Economics

Galt&Taggart reported that in 2022, Georgia’s re-export of passenger cars has doubled to $904 million, which was caused mainly by increased demand for new cars.

Referring to conducted research, the company indicated change of export markets’ structure, attributing this to increased demand from the Russia-led Eurasian Customs Union.

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3. GEORGIA AND UAE COMPLETED NEGOTIATIONS ON FREE TRADE AGREEMENT
Politics

The 3rd (final) round of negotiations on a free trade agreement was held between Georgia and the UAE on March 15-17.

As Georgian Ministry of Economy and Sustainable Development reported, now, an approximate date will be determined when, upon completion of domestic procedures, text of the agreement will be ready for official signing.

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4. GEORGIAN ECONOMY MINISTRY: UAE’S INTEREST IN GEORGIA IS LOCATED MAINLY IN AGRICULTURAL SECTOR, LOGISTICS, RETAIL
Economics

Today, Tbilisi hosted Georgia-UAE business forum. As Georgian Ministry of Economy and Sustainable Development said, interest of the UAE private sector in Georgia is located in agricultural sector, logistics, retail and other areas.

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5. GEORGIAN INVESTMENT FORUM HELD IN LONDON
Economics

The Georgian Investment Forum was held in London on March 16, reported Georgian Ministry of Economy and Sustainable Development.

The forum aimed to familiarize potential investors, investment banks and the UK business sector with Georgia’s potential, the Ministry said.

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6. REHABILITATION OF THE SECTION OF TBILISI-TIANETI ROAD IS UNDERWAY
Economics

Georgian Roads Department reported about rehabilitation being underway on a 21-km section of the Tbilisi-Tianeti motor road of domestic importance.

The Department specified that the works have started in Gldani district of Tbilisi and will pass territories of the villages of Mamkoda and Tskhvarichamia.

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7. CONSTRUCTION WORK BEGINS TO PROVIDE ALTERNATIVE WATER SUPPLY TO GUDAURI
Economics

Georgian Ministry of Regional Development and Infrastructure reported about launch of construction of water intake, pumping station and main pipe in Gudauri (alpine resort in Kazbegi municipality). The works are planned to complete in winter season of 2025.

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8. ASSETS OF “ELMAVALMSHENEBELI” SOLD AT THE SECOND AUCTION 2.5 TIMES CHEAPER THAN ORIGINALLY PLANNED
Business

At the re-announced electronic auction on March 16, Georgian Executive Bureau sold assets of JSC Elmavalmshenebeli (Electric Locomotive Builder) for 19.52 million lari.

At the first auction (expired on March 9), initial price made up 48.8 million lari, but the assets were not sold.

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