“SAKSTAT”: FDI ESTIMATION FOR 2016 EXCEEDS ADJUSTED FIGURES OF 2015 BY 5%
Sakstat published preliminary data on foreign direct investments (FDI) for 2016, according to which the volume made up $1.65 billion. The showing exceeds by 22% estimation for 2015, while by 5% – adjusted figures for the same year, Sakstat said.
LARGEST FDI IN 2016 WERE MADE FROM AZERBAIJAN, TURKEY AND UK
Sakstat published preliminary data of 2016, according to which top three largest investor countries were Azerbaijan, Turkey and the UK. Combined share of these three countries in total FDI made up 59%.
THREE LARGEST SECTORS ACCOUNTED FOR 61% OF TOTAL FDI IN 2016
Sakstat published preliminary data of 2016, according to which 3 branches accounted for combined 61% of total foreign direct investments (FDI), made in Georgia in the reporting year. These branches are transport and communications, energy and construction.
“WEG”: ANNUAL SUBSIDIES EXCEEDING 500M LARI REVEALED IN ENERGY SPHERE
Referring to study, conducted jointly with International Institute for Sustainable Development (IISD), analytical center World Experience for Georgia (WEG) declared that existence of annual subsidies exceeding 500 million lari was revealed in energy sphere.
Particularly, data of 2012-2014 show that 350 million lari is subsidized annually in order to maintain relatively low tariffs on household gas and electricity consumption, WEG said.
REGIONAL OFFICE OF EU4ENERGY MANAGEMENT PROJECT OPENED IN TBILISI
Energy Ministry reported that regional office of EU4Energy management project was opened in Tbilisi.
The office will coordinate arrangements of the project, which aim improvement of energy-related legal and regulation base in Armenia, Azerbaijan and Georgia, the Ministry noted.
IRAN-GEORGIA TECHNOLOGY TRANSFER OFFICE OPENED IN IRAN
Georgia’s Innovation and Technology Agency announced that Iran-Georgia Technology Transfer Office has been opened in Yazd Science and Technology Park within visit of the Agency’s delegation to Iran.
Georgian startups, who want to enter Iranian market (80 million consumers), will be able to use the mentioned office as the working space, the Agency said.
FINANCE MINISTRY: FMO EXPRESSED INTEREST TO EMIT LARI-DENOMINATED SECURITIES
Georgian Finance Ministry reported that Netherlands Development Finance Company (FMO) has expressed interest in development of the country’s financial sector and emission of lari-denominated securities.
Issues of bilateral cooperation were considered at yesterday’s meeting with Netherlands’ ambassador Johannes (Jos) Douma at the Ministry.
“AZAL” INCREASES FREQUENCY OF FLIGHTS TO GEORGIA
Georgia’s Civil Aviation Agency reported that Azerbaijan’s flag air carrier Azerbaijan Airlines is increasing frequency of regular flights to Georgia.
Namely, the company will make 8 flights on Baku-Tbilisi-Baku route from March 28, while increase frequency up to 10 flights from May 2.
AUCTION ANNOUNCED ON “ZANAVI” MINERAL WATER DEPOSIT USAGE
National Environment Agency announced auction on 25-year license for Zanavi mineral water deposit usage. Starting price of the license makes up 5 million lari.
STATE PROPERTY AGENCY: BUILDING OF FORMER REST HOUSE IN AMBROLAURI SOLD FOR 164,000 LARI
Agency of State Property declared that building of former rest house in Ambrolauri (Racha region) was sold for 164,000 lari at termed online auction, announced within state program “50 Real Estates for Your Hotel”.
Winner of the auction (is not indicated) will arrange 30-room hotel, employ 10 people and invest 338,000 lari, the Agency said.
COMPETITION ANNOUNCED ON DESIGN OF COLLECTABLE COINS
National Bank of Georgia (NBG) announced competition on design of collectable silver coins, dedicated to important anniversaries of 2018.
The coin with nominal value of 10 lari will be dedicated to 100 years of Georgia’s independence announcement (May 26), while the one with nominal value of 5 lari – to 100-year anniversary of foundation of Tbilisi Ivane Javakhishvili State University.
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