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Economic Press Monitor

November 29 - December 5, 2020

Previous Issues:  Days: < 21 28 05 12 19 > 

 

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economic & politics

    TABULA: ““80% OF FOOD OBJECTS WILL STOP OPERATION” – 5 DEMANDS OF HOSPITALITY SECTOR TO GAKHARIA”

    December 4, 2020 - Georgian hospitality sector addresses with 5 demands to Prime Minister Giorgi Gakharia, Tabula reports. In case of non-fulfillment of these demands, “80% of food objects, existing in Georgia, will not be able to continue operation”, the initiative group says.


    TABULA: “CEC APPROVED FINAL RESULTS OF ELECTIONS – OPPOSITION LEFT THE MEETING IN PROTEST”

    December 4, 2020 - Approval by Georgian Central Election Commission on December 3 of final results of parliamentary elections, held in the country on October 31, had passed against the background of protest of opposition and civic activists, Tabula reports.

    As the article notes, United National Movement, European Georgia and Alliance of Patriots left the Commission’s meeting in protest.


    FORBES GEORGIA: “INFLUENCE OF WAR IN KARABAKH ON ECONOMY OF GEORGIA”

    December 4, 2020 - War between Azerbaijan and Armenia is not only a conflict between our neighboring states, but between our large economic partners, the magazine points. As the article notes, Georgia is connected with Azerbaijan and Armenia most of all by foreign trade and tourism.


    TABULA: “ICC’S TRUST FUND FOR VICTIMS APPROVED AID PROGRAM FOR GEORGIA”

    December 2, 2020 - The Trust Fund for Victims (TFV) of the International Criminal Court (ICC) approved program of assistance to Georgia, Tabula reports. At the initial stage, 600,000 EUR are allocated.


    FORBES GEORGIA: “PRIVATE EQUITY FUNDS AS ALTERNATIVE SOURCE OF FINANCING”

    December 1, 2020 - In the last decade, credit market developed in Georgia quickly, but non-banking financial sector, including investment funds and capital market, is still at early stage of development, the magazine points.

    As a result, demand for risky and long-term capital is satisfied to some extent due by own savings, internal credits of group of companies and foreign direct investments, the article indicates.


    KVIRIS PALITRA: “HOW ECONOMY HAS TO AVOID TOTAL “KNOCK-DOWN”?”

    November 30, 2020 - In a year, Georgia has to live already for the second time with strict regulations, so financial losses can reach tens and hundreds of millions, the newspaper points. The article brings comments of several experts in connection with new restrictions because of COVID-19.


macroeconomics & budget

    TABULA: ““112” PROCURES EQUIPMENT FOR CALL CENTER WORTH 2.6M LARI IN SIMPLIFIED WAY”

    December 4, 2020 - Legal entity of public law 112 (emergency aid operational control center) procures in simplified way equipment worth 2.6 million lari for strengthening of its telephone center, Tabula reports. Maximal term of procurement is 80 days.


    TABULA: “WHAT IS REVENUE STRUCTURE OF THE POPULATION AND HOW IT WILL CHANGE IN THE CONDITIONS OF CRISIS”

    December 2, 2020 - Starting from 2016, indicator of real employment decreases annually – in total, about 45,000 persons have lost their jobs in 2016-2019, Tabula reports.

    As the article indicates, number of employed decreased even more sharply after start of COVID-19 pandemic.


energy, oil & gas

    BANKEBI DA FINANSEBI: “NATURAL GAS TARIFF FOR CITIZENS WILL NOT BE RAISED – DAVID NARMANIA”

    December 4, 2020 - David Narmania, chairman of Georgian National Energy and Water Supply Regulating Commission, declares that “We established natural gas tariff for household consumers a year ago for 3-year term that means that in 2021 and 2022 natural gas tariff will not be raised for to citizens”.

    Whereas, “Proceeding from acting legislation, gas price in commercial sector is deregulated and does not require coordination with the Commission”, Narmania notes.


companies

    FORBES GEORGIA: “WHERE GEORGIA IS ON IT MAP”

    December 2, 2020 - Anatoly Motkin, president of StrategEast, declares that his company, together with international partner, plans in near future to launch the program for startups’ development in Georgia. By means of this program, we will be able to increase considerably volume of foreign investment in Georgia, he says in an interview to the magazine.


    REZONANSI: “SINCE DECEMBER 1, CONSUMERS IN THE CITY OF MTSKHETA WILL BE SERVED BY “GEORGIAN WATER&POWER””

    December 1, 2020 - Mtskhetis Tskali, Mtskheta water supply company, merged with Tbilisi water company Georgian Water&Power (GWP). As a result, consumers of Mtskheta will be serve since December 1 by GWP, the newspaper reports.


    FORBES GEORGIA: ““REALTYNA” LOOKS FOR HIDDEN TALENTS IN GEORGIA”

    December 1, 2020 - Giselle Abadi, cofounder of American technological company Realtyna, which products are used by consumers of more than 95 countries, estimates that “Georgia is country of hidden talents and unused opportunities”. “Currently, we are in process of situation analysis and we want to see, how sector of business processes outsourcing (BPO) could be increased in Georgia”, she said in interview to the magazine.


    BANKEBI DA FINANSEBI: “IN POTI FIZ, PRODUCTION OF HELMETS AND ALPINE SKIING MASKS WILL START”

    November 30, 2020 - Fargini company will launch in Poti free industrial zone (FIZ) production of helmets and masks for alpine skiing and other purpose, the newspaper reports. Investments in the project amount to about 1.5 million lari.


    BANKEBI DA FINANSEBI: ““ENKA RENEWABLES” COMPANY RELEASES SPECIAL STATEMENT”

    November 30, 2020 - ENKA Renewables, which implements in Georgia project of Namakhvani series of hydroelectric stations, assures that lower dam of the series will be the safest one in Georgia.

    “Speculations in connection with safety of the dam, possibility of flooding, climate change, geological and other issues are based neither on scientific studying, nor on other researches”, statement of the company reads (which the newspaper publishes in its entirety).


transport & communications

    FORBES GEORGIA: “WHAT IS FREIGHT TURNOVER OF BATUMI PORT IN THE CONDITIONS OF PANDEMIC?”

    November 30, 2020 - Meiramkhan Adylkhanov, director general of Batumi port, says that the port operates without interruptions even in the period of global pandemic of COVID-19. In 6 months of this year, freight turnover of the port exceeded indicator of the same period of 2019 by 37%, he reports.


international cooperation

    FORBES GEORGIA: “GEORGIA IN POLAND – POLAND IN GEORGIA”

    December 2, 2020 - In an interview to the magazine, Polish ambassador in Georgia Mariusz Maszkiewicz declares that “Polish investors are not ready to arrive to Georgia today and to make investments, this needs time”.

    Answering the question on which problems have to be settled for investors, the ambassador says: “First of all, I would place emphasis on communication system, transport and logistics system”.


ecology & health

    REZONANSI: ““WE COULD REACH EVEN 25,000 A DAY” – DECISIVE 2-3 WEEKS AT PEAK OF THE PANDEMIC”

    December 1, 2020 - Amiran Gamkrelidze, director of Georgian National Center for Disease Control and Public Health, says that Georgia is at peak of COVID-19 pandemic now, and “this peak depends on how we will observe these regulation”.

    Gamkrelidze estimates that “the situation is difficult, but manageable”.


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