GEORGIA LEADING REFORMER LAGS BEHIND IN A NUMBER OF FIELDS
(Daily News: September 11, 2006)
Simeon Dyankov, one of the Doing Business 2007 report authors, Georgia has a leading position thanks to its performance in three fields – licensing, making contracts and employing workforce (the new Labor Code).
According to the reports prepared by the World Bank (WB) and the International Finance Corporation (IFC), Georgia is a leading reformer among SIC states.
Rezonansi: “LOW APARTMENT BUILDING MOVED TO THE END OF THE LINE”
(Economic Press Monitor: September 8, 2006)
The decision of the capital’s Sakrebulo (the local administration) to give priority to repairing roofs of multi-storey apartment buildings, has raised indignation of dwellers of low apartment buildings.
Members of associations of low apartment buildings say that the Sakrebulo aims by the decision to repair the roofs of multi-storey buildings first to receive more votes in the elections.
Rezonansi: “WILL GEORGIA FACE HUNGER?”
(Economic Press Monitor: September 4, 2006)
The summer drought and American butterfly have added to the frost and flood of spring, which inflicted a serious loss to the crops of corn, bean, hazelnut etc. A cattle breeding is also facing serious problems.
DROPPING PROVISION ON OBLIGATORY CERTIFICATION OF PRODUCTS FACE OBJECTION FROM SOME MPS
(Daily News: September 8, 2006)
The Agrarian Committee of Parliament has considered amendments to laws “On Pesticides and Agrochemicals” and “On Agricultural Quarantines”, presented by the Ministry of Agriculture. The amendments call for dropping provision on obligatory certification of products.
AMENDMENTS ON LLC OIL&GAS CORPORATION CREATION TO BE MADE IN OCTOBER
(Daily News: September 8, 2006)
Package amendments calling for the creation of LLC Oil&Gas Corporation through the merger of the Georgian International Oil Corporation (GIOC), the Georgian International Gas Corporation and the state oil company, Saknavtobi (Georgian Oil), will be made in October.
Zurab Tskitishvili, a member of Parliament’s Sectoral Economy and Economic Policy Committee, says the document will be presented in the third reading to Parliament at its first meeting during the fall session scheduled for October 10.
BAZISBANK JOINS STUDENT LOAN PROGRAM
(Daily News: September 7, 2006)
The Bazisbank has joined a student loan program along with TBC-Bank, the Bank of Georgia and the Republic Bank.
The Bazisbank will grant three types of student loans, reports the bank.
GOVERNMENT TRAINING PROGRAM FOR THE UNEMPLOYED DRAWS A LOT OF INTEREST FROM POPULATION
(Daily News: September 6, 2006)
The Minister of Health, Social Welfare and Labor, Lado Chipashvili, has said the interest of the population in the government’s employment and training program “has exceeded expectations”.
Submitting applications for the program proposed by the President of the country commenced on September 1 in 10 cities.
GRAPE GATHERING SWITCHES TO AN ACTIVE PHASE
(Daily News: September 6, 2006)
The rtveli (grape gathering) has started this week in Kakheti districts (Dedoplistskaro, Signagi and Gurjaani), the main grape growing region of the country, and will switch to an active phase in a few days.
Prime Minister Zurab Nogaideli has told the government meeting today, this year rtveli would acquire “political importance” due to Russian embargo on the sales of Georgian wine.
Rezonansi: “IT IS IMPOSSIBLE TO ATTRACT INVESTOR ONLY BY COMMERCIALS”
(Economic Press Monitor: August 16, 2006)
The Georgian Investment Agency will make commercials to advertise the country’s investment environment in an effort to attract investors, says Zurab Vasadze, an agency official. He says economic risk in Georgia is quite low, as legislation is liberalized.
Rezonansi: “SALOME ZURABISHVILI CALLS CHKHARTISHVILI AND SIORIDZE HAZELNUT MAFIA BOSSES”
(Economic Press Monitor: August 16, 2006)
Salome Zurabishvili, the leader of Georgia’s Way, a political alliance, says the hazelnut mafia led by MP Vano Chkhartishvili and Zaza Sioridze, head of the Supervisory Boards of the United Georgian Bank, is raging in Guria.
Zurabishvili says Chkhartishvili and Sioridze do not let local people sell hazelnut at market prices.
SHUGREFIMPEXBANK CHANGES NAME INTO AGROINVESTBANK
(Daily News: August 17, 2006)
Shugrefimpexbank has recently changed a name into Agroinvestbank. According to the bank, the move followed shifting the bank’s focus to the agrarian sector.
GEORGIA AND AZERBAIJAN REACH DEBT RESTRUCTURING DEAL
(Daily News: August 17, 2006)
Georgia and Azerbaijan have agreed on restructuring Georgia’s debt to the country during a meeting of the intergovernmental commission on economic cooperation, which has been hosted by Batumi. The debt restructuring will take place under terms of Paris Club of creditor states.
BATUMI HOSTING MEETING OF GEORGIAN-AZERBAIJANI ECONOMIC COOPERATION COMMISSION AND BUSINESS FORUM
(Daily News: August 16, 2006)
A Georgian-Azerbaijani intergovernmental commission on economic cooperation has started working in Batumi today. On 17 August, Batumi will also host a Georgian-Azerbaijani business forum.
24 Saati: “EVERYTHING NEW IS WELL FORGOTTEN OLD”
(Economic Press Monitor: August 9, 2006)
President Mikheil Saakashvili has come up with the proposal to set up approximately next year an arbitration court to consider tax debates in order to secure the protection of businessmen’s rights. “We need arbitration in the country, but not like the one we set up a year ago”, says the President.
Rezonansi: “PROCEDURAL ARRANGEMENT – MONEY TRAP OR LEGAL PROCEDURE?”
(Economic Press Monitor: August 7, 2006)
A journalistic research has been conducted into the facts of suspects and defendants transferring millions to the funds of the Prosecutor’s Office and law enforcement bodies to buy their freedom.
Those judges that took part in making procedural arrangements, have declined comments on the funds.
SUMMER HEAT NO THREAT TO CROPS, SAYS AGRICULTURE MINISTER
(Daily News: August 11, 2006)
High temperature (around 40 degrees) will do no harm to crops, says Agriculture Minister Mikheil Svimonishvili, who has viewed the current situation in Kakheti for two weeks.
The Agriculture Minister told journalists after the government meeting today that melioration services worked for 24 hours a day and that grain-crops harvest had almost been brought to the end.
STEMCOR TO PAY $112M FOR VARTSIKHEHES AND CHIATURMARGANETS
(Daily News: August 11, 2006)
Stemcor, the UK company, an indirect shareholder of JSC Ferro (the Zestaponi factory of ferro-alloys), offers for Vartsikhe Hydro Power Station (VartsikheHES) and JSC Chiaturmarganets $112 million (both are located in the Imereti region), Economic Development Minister Irakli Chogovadze told journalists after the government meeting today.
The Minister said the government had approved a draft memorandum of understanding with the company.
KODORI RECONSTRUCTION TO END BY LATE SEPTEMBER
(Daily News: August 11, 2006)
Prime Minister Zurab Nogaideli has assigned the Abkhaz government in exile to complete Kodori Gorge reconstruction (the only Tbilisi-controlled territory in Abkhazia) by the end of September. It will be impossible to carry out any works from October, due to the start of a snowy season in the highland region, he says.
NB CONSIDERING CREATION OF INTEGRATED NATIONAL PAYMENT SYSTEM
(Daily News: August 8, 2006)
A role and prospects of payment systems were the themes considered today at a two-day workshop, which has opened in the National Bank of Georgia (NB) today. The workshop is run by Gordon Clark, the director of a processing company located in Cyprus.
UNITED TAX BODY TO BE READY BY SEPTEMBER
(Daily News: August 8, 2006)
The Finance Ministry has hosted today the first working meeting to consider details and a time scale for the creation of a new tax administration to be set up through the merger of the current Tax and Customs Departments as well as the Financial Police. The body, to commence operation next year, will stay within the structure of the Finance Ministry.
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