LLC “HERBIA” WAS AWARDED BY INTERNATIONAL QUALITY CERTIFICATE “GLOBALGAP”
(Daily News: June 25, 2010)
Head of LLC Herbia Zurab Janelidze reported to Sarke that the company got international quality certificate GlobalGap (Global Partnership for Good Agricultural Practice) a month ago. LLC Herbia produces 8 names of greens and 12 – of vegetables.
PRESIDENT OF GEORGIA PRESENTED NEW MEMBERS OF THE GOVERNMENT
(Daily News: June 25, 2010)
President of Georgia Mikheil Saakashvili has presented today new members of the government.
Vera Kobalia will replace Zurab Pololikashvili as the Minister of Economic Development.
Rezonansi: “JUAN CARLOS WILL BE NOT IN TIME FOR MEETING WITH POLOLIKASHVILI”
(Economic Press Monitor: June 17, 2010)
Post of Economic Development Minister is vacant again, in exactly 9 months after previous vacancy. Zurab Pololikashvili is sharing the fate of his predecessor Lasha Zhvania, who was not able to attract investments too, the newspaper reports.
Rezonansi: “LARI DEVALUATION WILL NOT CAUSE GROWTH OF UTILITY BILLS”
(Economic Press Monitor: June 15, 2010)
National Energy and Water Regulating Commission say that none of the companies applied with request on tariff revision because of lari rate devaluation.
According to some experts, utility bills are already high and no ground exists for their increase due to the lari rate.
Rezonansi: “CONSEQUENCES OF DARK ENERGY-PRIVATIZATION GRADUALLY GET CLEAR”
(Economic Press Monitor: June 8, 2010)
Experts say that during alienation of energy entities, their price was artificially reduced, causing damage to the state. The government wanted to show that the investor paid maximum sum for asset with minimum value.
JSC “TELAVI WINE CELLAR” PLANS TO LAUNCH BIO-WINE PRODUCTION
(Daily News: June 11, 2010)
Zurab Ramazashvili, head of supervisory council of JSC Telavi Wine Cellar, reported to Sarke that the company is going to launch bio-wine production. For this end, the company plans to get certificate from Caucascert (certification company) by the beginning of 2011.
LLC “FLAMINGO” NEGOTIATES WITH “CARTU” BANK AND “PROCREDIT BANK” CONCERNING LOAN
(Daily News: June 11, 2010)
Zurab Tatarashvili, financial director of LLC Flamingo (poultry plant), reported to Sarke that the company negotiates issuing of loan with 2 commercial banks. Among them are Cartu bank and ProCredit Bank, he noted.
STATE BUDGET-2010 GROWS BY 215M LARI
(Daily News: June 7, 2010)
Zurab Melikishvili, head of Fiscal Committee of the Georgian Parliament, announced that the state budget of 2010 grows by 215 million lari. Out of that, 150 million lari will account for tax revenues, while remaining 65 million lari – to increase of grants mainly, Melikishvili declared on meeting of the Parliament’s bureau today.
Rezonansi: ““RAPID PRIVATIZATION” WENT AT A SNAIL’S GALLOP”
(Economic Press Monitor: June 4, 2010)
According to Prime Minister Nika Gilauri, privatization will be of much importance this year. Active selling of the state-owned entities was planned in late April.
“ALAVERDI” STARTED SPARKLING WINE PRODUCTION
(Daily News: June 3, 2010)
Zurab Goginashvili, co-founder of LLC Alcoholic Beverages Company Alaverdi, reported to Sarke that the company has started production of sparkling wine several days ago.
The product would be issued for selling in 2 weeks.
PROSPECTS OF EXPORT TO SWEDEN WAS CONSIDERED IN TBILISI
(Daily News: June 2, 2010)
Prospects of export to Sweden have been discussed on 2-day Sweden-Georgian business-seminar today.
According to Zurab Alavidze, Deputy Minister of Economic Development, Sweden side is going to introduce Georgian businessmen ways of export to Sweden and to European Union in general and what requirements should be met for that end.
DELEGATION OF CACCI TO VISIT GEORGIA
(Daily News: May 25, 2010)
Georgian Chamber of Commerce and Industry reported that delegation of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) will visit Georgia on May 29-31.
Members of delegation would meet Georgian Prime Minister Nika Gilauri, Economic Development Minister Zurab Pololikashvili and representatives of business-sector.
Rezonansi: “THE GOVERNMENT BAKED THE NEXT 100-DOLLAR PROMISE”
(Economic Press Monitor: May 20, 2010)
In the eve of elections, the government promised pensioners pensions of $100 once again.
According to Giorgi Baramidze, State Minister for European and Euro-Atlantic Integration, this is still achievable intention despite of 2-3 years’ delay.
Kviris Palitra: “PRIORITY IS EXPORT ENCOURAGEMENT”
(Economic Press Monitor: May 10, 2010)
Zurab Pololikashvili, Minister of Economical Development, makes quite optimistic forecasts in his interview with the newspaper. In particular, he says that there “should be a noticeable growth of investment inflow in 2010”.
70% OF JSC “STANDARD INSURANCE GEORGIA”’S ACTIVITIES ACCOUNTED FOR CAR INSURANCE
(Daily News: May 13, 2010)
According to Zurab Gumberidze, director general of JSC Standard Insurance Georgia, 70% of premium, attracted in 2009, accounted for car-insurance. He noted that demand on car insurance increased by 300% in the 1st quarter of 2010 if compared to the whole 2009 (the company started operating in February 2009).
GEORGIA AND ISRAEL SIGNED AGREEMENT ON DOUBLE TAXATION AVOIDANCE
(Daily News: May 13, 2010)
Georgian Economic Development Ministry reported that agreement on double taxation avoidance was signed with Israel on May 12. Document was signed in terms of 4-day visit of Minister Zurab Pololikashvili in Israel.
Rezonansi: “MARKET SHARE OF HEALTHY PRODUCTS REDUCES MORE AND MORE”
(Economic Press Monitor: May 5, 2010)
There is serious lack of healthy products, especially of bio-products, on Georgian market. At the same time, the market is full of cheap and falsified production.
Rezonansi: “PRIVATIZATION IS NOT CONDUCTED EVEN SLOWLY”
(Economic Press Monitor: May 5, 2010)
According to Nika Gilauri, privatization should play important role in Georgian economic this year. We sell everything – seaports, airports, hospitals, not for money, but for the government’s exit from businesses, he declares.
Rezonansi: “GOVERNMENT WILL CHANGE THE NAME OF FIXED TAX”
(Economic Press Monitor: May 4, 2010)
Work on Tax Code simplification is about to complete in the Finance Ministry. Minister Kakha Baindurashvili will submitted draft amendments to the Parliament in the mid of May.
Rezonansi: “INTEREST RATE ON DEPOSITS WILL BE REDUCED FURTHER BY THE END OF THE YEAR”
(Economic Press Monitor: May 4, 2010)
Despite excess liquidity, banks maintain conservative approach toward crediting, though they decreased rates. On this background, interest rates on deposits decrease as well.
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