Daily News December 17, 2018	Days:  12 13 17 18 19

politics

ECONOMY MINISTER: ENACTMENT OF FREE TRADE AGREEMENT WITH THE US WILL INCREASE IN GEORGIA INVESTMENTS FROM AMERICA BY 20-30%

“According to our assumption, after enactment of free trade agreement, direct investments from America will increase in Georgia by 20-30%”, Georgia’s Minister of Economy and Sustainable Development Giorgi Kobulia declared, noting that trade indicator will grow too.

The Minister indicated that “The US House of Representatives adopted the draft bill, supporting Georgia, which also envisages signing of the free trade agreement with America”.




ECONOMY MINISTRY: TRANSIT VIA GEORGIA BY “LAPIS LAZULI” ROUTE WILL START

Transit via Georgia by route of Lapis Lazuli will start, Georgian Ministry of Economy and Sustainable Development declared. According to the Ministry, the first pilot transportation will be made by motor transport.




NEW HEAD OF CIVIL AVIATION AGENCY APPOINTED

Georgian Ministry of Economy and Sustainable Development reported that its Civil Aviation Agency will be headed by Levan Karanadze. The new head was selected on the basis of the competition, announced by the Ministry.




“TI GEORGIA”: MAJOR PROBLEMS OF THE CONSTRUCTION SECTOR ARE “CHAOTIC DEVELOPMENT” AND WEAK QUALITY CONTROL

TI Georgia, Georgian branch of Transparency International, declared that major problems of Georgian construction sector are “chaotic development” and weak quality control.

At that, major challenge of the construction sector is concentration of 80% of construction projects in Tbilisi and Batumi and practice of issue of construction permits, the organization pointed.

economics

GEORGIA LAUNCHED CENTRALIZED SYSTEM OF SECURITIES

National Bank of Georgia (NBG) reported about launch of Georgian Securities Settlement System (GSS).

As NBG said, the new system, launched on December 3, is qualitatively updated version of automated system for state securities settlement, which operates in NBG since 2010.




NBG AND COMPETITION AGENCY AGREED ON COOPERATION STRENGTHENING

National Bank of Georgia (NBG) and Georgian Competition Agency signed a memorandum of cooperation today.

As NBG said, the parties agreed to strengthen cooperation for enforcement of competition legislation and ensuring healthy competitive environment in the financial sector.




FINAL RECOMMENDATIONS OF TBILISI INTERNATIONAL FORUM OF SOLIDARITY AND INNOVATIVE FINANCING TO BE PREPARED BY JANUARY

On December 15, Georgia hosted the international Tbilisi Solidarity and Innovative Financing Forum (TISIFF 2018). Georgia hosted the forum, as the presiding state of c, in cooperation with France and Germany.

business

TOURISM DEVELOPMENT FUND: INVESTMENTS OF $28.2M WERE MADE IN Q3

Georgian Tourism Development Fund declared that investments in the 3^rd quarter of this year had amounted to $28.2 million. In total, investments for 9 months of this year amounted to $62.7 million.




“FITCH” AFFIRMED RATING AND OUTLOOK FOR “HALYK BANK GEORGIA”

Fitch Ratings declared about affirmation of the rating for Halyk Bank Georgia at the level of BB- maintenance of positive outlook.

As the Agency explains, the rating and outlook reflect “potential support it may receive in case of need from its sole shareholder, Halyk Bank of Kazakhstan”.

society

TRAINING COURSES OF THE IMF IN GEORGIA TO BE EXPANDED

Georgian Finance Ministry said that training courses of the IMF, being underway in Georgia already for 7 years, attract, along with the Georgian colleagues, representatives of Central Asia and South Caucasus.

In the current year, it was decided that representatives of Moldova, Ukraine and Belarus will join the courses, planned in Georgia, the Ministry reported.