Economic Press Monitor
May 30, 2022
IN THIS ISSUE:
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| 1. |
BECAUSE OF REHABILITATION WORKS ON THE TURKISH SIDE, AGREED TERMS FOR LAUNCH OF VALE CUSTOMS CHECKPOINT HAVE BEEN EXTENDED
Economic & Politics
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Since April 25, customs control procedures at Vale customs checkpoint are suspended on the Georgian side, because of rehabilitation works on the Turkish side. Georgian Revenue Service reported that at the request of the Turkish side, launch of Vale checkpoint has been postponed, as the repair works will last through July.
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| 2. |
WE WILL TAKE IN OWNERSHIP PART OF SHARES OF “BORJOMI” FROM THE SANCTIONED PERSON SO THAT THE COMPANY WAS ABLE TO OPERATE FULLY, AND THIS IS NOT TEMPORARY
Economic & Politics
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Levan Davitashvili, Georgia’s Minister of Economy and Sustainable Development, declared that the Georgian government will take from the sanctioned person part of the shares of IDS Borjomi in ownership so that the company was able to operate fully, “and this is not temporary”. Pass of part of the company’s shares to the ownership of the state does not circumvent sanctions, the Minister assured.
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| 3. |
RATING OF GEORGIA’S AUDIT FIRMS
Companies
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In 2021, revenues of 15 largest audit companies, operating in Georgia, totaled to 54 million lari, increasing by 7% compared with 2020, the magazine reported. The article noted that for the past 4 years, the income of auditors has increased by almost 44%.
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| 4. |
IN PARTNERSHIP WITH “SAKARTVELOS BANKI”, AN INTERNATIONAL BRAND HOTEL “IBIS BUDGET” WAS OPENED
Companies
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As a result of cooperation between Sakartvelos Banki (Bank of Georgia) and Beta Group, a hotel of the international budget brand Ibis Budget was opened on Akhvlediani Street in Tbilisi. The 5-storey building has 158 rooms.
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