Economic Press Monitor
March 4, 2021
IN THIS ISSUE:
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| 1. |
CONSTRUCTION OF “NAMOKHVANHES” CAME TO A STANDSTILL, THE GOVERNMENT IS ALREADY IN DESPAIR
Energy, Oil & Gas
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Protests of the population, directed against construction of hydroelectric power stations, hinder the energy sector, the newspaper points. The problem is in lack of proper communication between Georgian government and public.
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ANDRIA GVIDIANI: IT IS ANOMALOUS THAT 250,000 RESIDENTS OF DE-FACTO ABKHAZIA CONSUME THE SAME VOLUME OF ENERGY AS 1.2-MILLION TBILISI
Energy, Oil & Gas
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Analyst Andria Gvidiani says that “in de-facto Abkhazia, there is complete chaos from the point of view of electricity consumption”, and “underground mining” of crypto-currency is flourishing there. In particular, only 250,000 people live in the de-facto Abkhazian Republic, but they consume electricity of 2.5 billion kWh, i.e. the same volume, as 1.2 million residents of Tbilisi, Gvidiani points.
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“IF BUSINESSES CANNOT AGREE AMONG THEMSELVES, SHOULD REGULATING COMMISSION BEAT US ON HEAD?” – “MAGTICOM” CATEGORICALLY OPPOSES ENTRY OF VIRTUAL OPERATORS
Transport & Communications
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Gia Jokhtaberidze, founder of Georgian telecom operator MagtiCom, categorically opposes admission of a mobile virtual network operator (MVNO) to the local market, the newspaper says. At the committee meeting in Georgian Parliament, Jokhtaberidze put a question in connection with MVNO to Irakli Butbaia, head of legal department at Georgian National Communication Commission.
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AMERICAN GIANT “FIDELITY” ACQUIRED 6.15% OF SHARES OF “SAKARTVELOS BANKI”
Companies
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In 2020, American asset management fund Fidelity Investments Inc acquired stake of 6.15% in Bank of Georgia PLC, the parent structure of Georgia’s second largest Sakartvelos Banki (Bank of Georgia), the magazine reports. The article specifies that for the first time, Fidelity Investments appeared among the bank’s shareholders in the 2nd quarter of 2020.
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