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Economic Press Monitor

January 5 - 11, 2020

Previous Issues:  Days: < 21 28 11 18 25 > 

 

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economic & politics

    REZONANSI: “WHO WILL BE INCLUDED INTO NEW CONSORTIUM ON ANAKLIA – “NEW INVESTOR COULD BE THE CHINESE COMPANY””

    January 10, 2020 - Georgian government terminates the agreement with Anaklia Development Consortium, signed in 2016, while the Consortium plans to go to court, the newspaper reports.

    MP Revaz Arveladze from the parliamentary majority told the newspaper that new investor could be that Chinese company, which showed interested in the project from the very beginning – China Railway International Group.


    TABULA: “JAPARIDZE: UPON THE LAWSUIT, INVESTMENT IN ANAKLIA IS IMPOSSIBLE, WHATSOEVER INVESTOR SHALL BE”

    January 10, 2020 - “Apparently, in the conditions of this ruling force continuation of implementation of the Anaklia project is impossible”, one of the leaders of public movement Lelo and cofounder of Georgia’s biggest TBC Bank Badri Japaridze declares (the matter concerns construction of deep-water port in Anaklia).

    “The ruling force [Georgian Dream], its leader [billionaire Bidzina Ivanishvili] wanted to suspend this project”, Japaridze specifies.


    FORBES GEORGIA: “SPECIAL STATEMENT OF “ANAKLIA DEVELOPMENT CONSORTIUM””

    January 10, 2020 - Anaklia Development Consortium released the statement in connection with decision of Georgian government (January 9) to terminate the investment agreement, the magazine reports.

    “The government has no right to terminate the agreement and to put the end to the Consortium’s participation in the process”, reads the statement, published on the company’s Facebook page.


    TABULA: “MINISTRY: “ANAKLIA CONSORTIUM” DID NOT FULFILL OBLIGATIONS, ASSUMED UNDER AGREEMENT”

    January 8, 2020 - Georgian Ministry of Regional Development and Infrastructure declared that Anaklia Development Consortium did not fulfill obligations, assumed under investment agreement with Georgian government.

    The Ministry noted that the government will discuss issue of the investment agreement, signed with the Consortium, at the next meeting.


    REZONANSI: “WHETHER GEORGIAN LARI WILL SUSTAIN THE IRAN-AMERICA PREWAR PRESSURE?”

    January 8, 2020 - Nika Shengelia, analyst at Finex-1970, points that in case the US toughened sanctions against Iran, Georgia will be obliged to join these sanctions.

    If sanctions are established in respect of import of the Iranian goods, “Georgia will have to obey this demand and import of certain products from Iran will be forbidden”, Shengelia declares.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “MAMUKA KHAZARADZE – GEORGIA’S ECONOMIC SITUATION WORSENED IN COMPARISON WITH 2013”

    January 9, 2020 - Mamuka Khazaradze, founder of Georgia’s largest TBC Bank and leader of public movement Lelo, declares that “we already lost an economic position in the region”.

    “In 2013, GDP per capita in Georgia made up $4,341.


companies

    BANKEBI DA FINANSEBI: “GAMBLING IS THE MAIN BUSINESS SECTOR OF THE COUNTRY”

    January 9, 2020 - Among top ten Georgian companies in terms of turnover volume (by data of 9 months of 2019), there are 6 slot clubs (gambling companies), the newspaper reports. These are Betlive, Lider-Bet Slot, Aviator, Mars, Full House, Champions 111.


    FORBES GEORGIA: ““BUSINESS AWARDING 2019” – WHO ARE THE WINNERS?”

    January 9, 2020 - Within TBC Bank’s business awarding, held already for the 4th time, 5 winners were revealed in 5 nominations. In total, 364 companies took part in the competition, from which 15 finalists were selected.


transport & communications

    REZONANSI: “CHANGES IN CHECKUP – TIRES AND WHEEL’S TRANSFER ARE STRICTLY LIMITED”

    January 10, 2020 - Regulation, which prohibits cars with tires older than 10 years to undergo checkup, will enter in force on April 1, the newspaper reports. The article indicates that this information is confirmed by Shalva Uriadmkopeli, chief of safety service at the Economy and Sustainable Development Ministry’s Land Transport Agency.


international cooperation

    FORBES GEORGIA: “ADVANTAGE OF INDICATIONS”

    January 9, 2020 - The EU, within its project of public services’ collaboration (Twinning), will assist to strengthening of geographical indications’ protection and control system in Georgia, allocating 1.5 million EUR for that end, the magazine reports.

    Official ceremony of the project opening was held in November 2019.


tourism

    TABULA: “TSKITISHVILI: REAL REASON OF PROBLEM OF LACK OF WATER IS PRECIPITATION-LESS AUTUMN”

    January 8, 2020 - Georgia’s Minister of Regional Development and Infrastructure Maya Tskitishvili declared that real reason of lack of water supply in alpine resorts of Gudauri and Bakuriani is precipitation-less autumn that affected water reserves.

    The Minister indicated that problem in Gudauri and Bakuriani arose in those settlements, which are located above an intake of water supply system.


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