Daily News December 10, 2018	Days:  06 07 10 11 12

economics

IN Q3, FOREIGN DIRECT INVESTMENTS IN GEORGIA DECREASED BY 48.2% Y-O-Y

Sakstat released estimation, according to which volume of foreign direct investments (FDI), made in Georgia in the 3^rd quarter, amounted to $322.6 million. If compared with the same period of 2017, the volume has decreased by 48.2%.




IN Q3, FOREIGN DIRECT INVESTMENTS IN GEORGIAN TRANSPORT AND COMMUNICATIONS DROPPED 3.16 TIMES Y-O-Y

Sakstat released estimation, according to which volume of foreign direct investments (FDI), made in Georgia’s manufacturing industry in the 3^rd quarter, amounted to $56.5 million (year-on-year growth – 28.7%). In these terms, this industry was a leader, accounting for 17.5% of total FDI volume for the period.




IN Q3, NETHERLANDS LED IN TERMS OF FOREIGN DIRECT INVESTMENTS IN GEORGIA

Sakstat released estimation, according to which in total volume of foreign direct investments (FDI), made in Georgia in the 3^rd quarter ($322.6 million), the Netherlands accounted for 15.4%. Volume of FDI from this country made up $49.7 million, reducing year-on-year 1.7 times.




GEORGIAN PREMIER PROMISES TAX BENEFITS TO INTERNATIONAL COMPANIES AND TRANSNATIONAL ORGANIZATIONS

“Unique tax benefits will be extended to international companies and large transnational organizations, which will open regional offices in Georgia”, Georgia’s Prime Minister Mamuka Bakhtadze declared at the government meeting today. The matter concerns 500 largest companies of the world, he noted.




PRIME MINISTER: FROM THE NEXT YEAR, GEORGIA WILL HAVE A NEW CUSTOMS CODE

From the next year, Georgia will have a new Customs Code, the country’s Prime Minister Mamuka Bakhtadze declared at the news briefing before the government meeting today. Currently acting Customs and Tax codes do not meet the planned goals and tasks, he said.




PRIME MINISTER: “PRODUCE IN GEORGIA” PROGRAM SUPPORTED 5,313 REGIONAL PROJECTS WITH INVESTMENT CAPACITY OF UP TO 50M LARI

Within “Produce in Georgia” state program, 5,313 regional projects are supported for now, which total investment volume makes up to 50 million lari, Georgia’s Prime Minister Mamuka Bakhtadze declared at the news briefing before the government meeting today.

As the Premier noted, 8,412 beneficiaries of the program got state co-financing of 22.95 million lari.




PRIME MINISTER: RESPECTIVE AGENCIES SHOULD STUDY IN THE SHORTEST POSSIBLE TIME A SITUATION WITH INCREASE OF BREAD PRICE

Georgia’s Prime Minister Mamuka Bakhtadze commented today on information that “there will be sharp increase of bread price”.

“I want to urge appropriate agencies to study in the shortest possible time this situation and to prepare the report on what we deal with”, the Premier declared.

business

“TI GEORGIA”: INCOME FROM TV ADVERTISING DECREASED IN 2017 BY 16.9%

TI Georgia, Georgian branch of Transparency International, declared that total income of Georgian broadcasting companies for 2017 made up 97.5 million lari, increasing by 0.6% year-on-year.

At that, broadcasters’ income from advertisement and sponsorship in the reporting year amounted to 69.2 million lari, decreasing by 16.9% year-on-year, TI Georgia reported.




“AIR FRANCE” TO LAUNCH FLIGHTS TO GEORGIA ON MARCH 31

French national air carrier Air France will launch flights to Tbilisi on March 31, 2019, Georgian Airports Association declared.

Flights will be made from Paris Charles de Gaulle Airport 2 times a week (on Wednesdays and Sundays) by A320.




IN NEXT YEAR, “SAKARTVELOS BANKI” TO REPLACE DIRECTOR GENERAL

New director general of Sakartvelos Banki (Bank of Georgia) will be appointed, approximately, in the 1^st quarter of 2019, group of the bank (BGEO Group) reported today.

The office of head of the bank and the group will leave current director Kakha Kiknavelidze, who occupies these posts since 2016.

society

WEB SITE LAUNCHED FOR PERSONS FROM SO-CALLED “BLACK LIST OF DEBTORS”, WHOSE DEBTS WILL BE WRITTEN OFF

Today, the web site (vali.ge) was launched for citizens from so-called “black list of debtors”, whose debts will be written off. At the moment, the web site has published information on borrowers of Sakartvelos Banki (Bank of Georgia), TBC Bank, Liberty Bank, Silk Road Bank, Halyk Bank Georgia and IsBank Georgia.