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Daily News

June 11, 2018

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economics

    IN Q1, FDI IN GEORGIA DECREASED BY 32.9% Y-O-Y

    Sakstat released estimation, which says that foreign direct investments, made in Georgia in the 1st quarter, amounted to $279.3 million. This volume is by 32.9% less than indicator of the same period of 2017.


    IN Q1, BIGGEST FDI IN GEORGIA MADE IN FINANCIAL SECTOR

    Sakstat released estimation, which says that in total volume of foreign direct investments (FDI), made in Georgia in the 1st quarter ($279.3 million), financial sector accounted for 39.6%. FDI in this sector amounted to $110.6 million, increasing by 41.6% year-on-year.


    IN Q1, BIGGEST FDI IN GEORGIA MADE FROM THE UK

    Sakstat released estimation, which says that in total volume of foreign direct investments (FDI), made in Georgia in the 1st quarter ($279.3 million), share of the United Kingdom made up 29.6%. Volume of FDI, made in the reporting quarter from this country, made up $82.7 million, increasing year-on-year by 2.7%.


    AS OF APRIL 1, RATIO OF DEPOSITS TO GDP INCREASED Y-O-Y BY 3.6 PP, ONE OF CREDITS – BY 4.8 PP

    National Bank of Georgia reported that as of April 1, ratio of total banking deposits to GDP made up 50.6%.

    If compared with the same period of 2017 (46%), this indicator has increased by 3.6 percentage points (pp).


    CONTRACT ON GENERAL AGENCY SERVICE IS SIGNED WITH “GLOBAL MARITIME CONSULTANTS GROUP”

    Georgian Maritime Transport Agency signed a contract on general agency service with Cyprus-based Global Maritime Consultants Group (operates in 17 countries).

    As Georgian Ministry of Economy and Sustainable Development said, the mentioned “will facilitate attraction of qualitative vessels under Georgian flag”.


    PROGRAM OF VINEYARDS’ INVENTORY STARTED IN GURJAANI

    Program of vineyards; inventory is launched in Gurjaani municipality (Kakheti region), National Wine Agency reported.

    Works in the municipality will be conducted by the tender-winner company Map Mapping, which already started data collection and orthophotographing, the Agency said.


    MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: REAP’S GRANT OF $6M WAS USED FOR 70 AGROENTERPRISES

    Grant of $6 million, allocated by the USAID project of restoration of efficiency of agricultural production (REAP), was used for 70 agroenterprises, Georgian Ministry of Environmental Protection and Agriculture reported.

    As the Ministry noted, REAP project consisted of 2 components – grant and technical assistance.


business

    “MYWAY AIRLINES” LAUNCHES REGULAR FLIGHTS

    Georgian Civil Aviation Agency reported that Myway Airlines launches regular flights. This Georgian airline got permission to air communication on June 8.


    TEA PACKING ENTERPRISE LAUNCHED IN OZURGETI MUNICIPALITY

    Tea packing enterprise Sakartvelos Taiguli (Bouquet of Georgia) is launched in Dvabzu village of Ozurgeti municipality (Guria region), the Ministry of Environmental Protection and Agriculture reported.

    According to the Ministry, the enterprise, which employs 10 people now, will produce 15 t of tea annually, using for that end local raw materials only.


    ENTERPRISE OF “TIFLIS TEXTILES” OPENED IN TBILISI

    Today, enterprise of LLC Tiflis Textiles (production a sock) was opened in Tbilisi, which will employ 50 people at the first stage.

    The company is beneficiary of two components of “Produce in Georgia” state program – infrastructure support and accessibility of finance.


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