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Economic Press Monitor

May 14 - 20, 2017

Previous Issues:  Days: < 06 13 20 27 03 > 

 

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economic & politics

    FORBES GEORGIA: “LAW ON TOBACCO CONTROL ENTERED IN FORCE – EVERYTHING THAT IS CHANGED AND FORBIDDEN”

    May 19, 2017 - The Parliament adopted amendments to law “On Tobacco Control”, which will enter in force stage-by-stage.

    In order, the draft to become effective, only signature of the President is required, Tabula notes and points that business categorically opposes the amendments and, supposedly, will complaint against them in Constitutional Court.


    REZONANSI: “GEORGIAN-AMERICAN DISCUSSION OF DEVELOPMENT”

    May 19, 2017 - “For the last 10 years, many international indexes show that Georgia is one of the most free and less regulated countries for business, however that did not reflected for some reason in investments, creation of new, stable and well paid jobs”, author of the article, president of America-Georgia Business Council Mamuka Tsereteli declares.

    “If we look through statistics for the last 10 years, number of payers of income tax does not grow in Georgia and does not exceed one third of able-bodied population”, Tsereteli specifies.


    TABULA: “AKAKI ZOIDZE: IT IS FAIRY TALE THAT STANDARD PACKING OF TOBACCO IS ALLEGEDLY UNCONSTITUTIONAL”

    May 18, 2017 - According to draft amendments to law “On Tobacco Control”, “use of brand, logo, trademark or its other distinctive element on packing (a pack, a block, a container, etc.) and on each particular cigarette is forbidden”.

    This is called standard packing and is categorically opposed by business, which estimates it as unconstitutional, the article specifies.


    NETGAZETI.GE: “THE PARLIAMENT APPROVED LAW ON TOBACCO CONTROL”

    May 18, 2017 - The Parliament approved amendments to law “On Tobacco Control” on May 17 in third (final) reading, with 85 votes “pro” and 1 – “contra”.

    According to the amendments, smoking will be permitted only in penitentiary institutions, pre-trial detention yards, stationary mental health and palliative institutions, cigar bars, special area in transit zone of airport.


    TABULA: “TARGAMADZE SPEAKS ABOUT CORRUPTION SCHEME OF PARTSKHALADZE, CHKHARTISHVILI AND MAMATSASHVILI”

    May 17, 2017 - Member of European Georgia Givi Targamadze states that Batumi port was artificially brought to bankruptcy by means of court, penalties and assets’ seizure. Role of Partskhaladze (former main prosecutor) was exactly in settlement of this case in courts, he claims.


    TABULA: “BEATEN AUDITOR GENERAL, PLANT OF AVIATION DETAILS AND PARTSKHALADZE’S MILLIONS”

    May 16, 2017 - The article reviews business of the former main prosecutor Otar Partskhaladze, who has beat black and blue Auditor General Lasha Tordia recently.

    In August 2015, the company, where director and owner of 40% was Partskhaladze, acquired from Tbilisi City Hall a site of 62,000 square m near Tbilisi airport for 200,000 lari, with condition of investment of 10 million lari at least, Tabula reports.


    NETGAZETI.GE: “KALADZE: DESTRUCTIVE FORCES ACCUSE US OF BARBAROUS ACTIONS”

    May 16, 2017 - There is already a month that construction of high-voltage line Ksani-Stepantsminda is a subject of protest, Netgazeti.Ge points.

    Energy Minister Kakha Kaladze declares that “certain destructive forces” accuse them “of barbarous actions and vandalism” that “is lie”.


    KVIRIS PALITRA: “PARTSKHALADZE’S CASE #”

    May 15, 2017 - “General Auditor Lasha Tordia accused former main prosecutor Otar Partskhaladze and members of his security of attack and declared that beating is connected with his office activity”, the newspaper reports.

    Refering to a competent source, the newspaper says that “opposition reached peak after the Audit Service began studying of activity of Tbilisi City Hall”.


    FORBES GEORGIA: “WORLD BANK: GEORGIAN POPULATION HAS TO BECOME CONTRIBUTOR FOR ECONOMY”

    May 15, 2017 - Regional director of the World Bank (WB) Mercy Tembon says that the WB is now involved in pension reform and introduction of deposit insurance system in Georgia.

    “It is necessary to continue implementation of reforms in order to pass to the next stage”, Tembon declares.


energy, oil & gas

    REZONANSI: “WE “LOST” ELECTRICITY OF “ENGURHES”, THEREFORE IMPORT GROWS”

    May 18, 2017 - Generation of EngurHES, biggest power station of Georgia, is sharply reduced, so import of electricity in the country has increased for the last 4 months by about 300 million kWh, the newspaper reports.

    According to Electricity System Commercial Operator, EngurHES generated in April 135 million kWh against of 167 million kWh for the same month of 2016.


    FORBES GEORGIA: “INVESTING IN DEVELOPMENT”

    May 15, 2017 - Kayrat Kabilov, director general of oil-products retailer RomPetrol Georgia (since 2007, owner of Romanian RomPetrol Group is Kazakhstan’s KazMunayGas, which 51% is in ownership of Chinese CEFC China Energy Company now), declares that the company made investments of $6.4 million in 2016.

    In 2016, we rebranded 45 filling stations, which comprise 60% of our total network, and opened also 13 new stations, spending $2 million for that end, Kabilov says.


conflict and court

    TABULA: ““GEORGIAN MANGANESE”: THE PLANT CAN STOP, SPECIAL MANAGER IS INCOMPETENT”

    May 19, 2017 - Owner of Georgian Manganese, American company Georgian American Alloys, declares that appointment by Georgian government of special manager in Georgian Manganese, under excuse of pollution of soil, caused paralyzation of the enterprise. Through this decision, the government plans expropriation of the plant, the company considers.


    BANKEBI DA FINANSEBI: “CABLE TELEVISIONS RELEASE THE STATEMENT”

    May 17, 2017 - In its statement, LLC Georgia Media Right (GMR) announced that it will acquire an exclusive right on commercial distribution of content of Imedi, Rustavi-2, Marao, Comedy, GDS, Maestro through cable and internet channels in near future.

    GMR sent notices to over 50 cable televisions, warning that if they will not apply to GMR until May 20, broadcasting of the specified companies will be stopped to them since June 1.


    TABULA: “THE GOVERNMENT APPOINTED AS EXTRAORDINARY MANAGER OF “MANGANESE” FORMER DIRECTOR OF THIS COMPANY”

    May 17, 2017 - Georgian government, claiming pollution of the soil, discharged Volodimir Lozinski from office of director of metallurgical company Georgian Manganese and appointed Nikoloz Chikovani as special manager (director).

    The company is fined with more than $82 million.


    FORBES GEORGIA: ““GAA”: INTERNATIONAL REPUTATION OF GEORGIA AND SUPPLY OF THE US WITH RAW MATERIALS ARE ENDANGERED”

    May 15, 2017 - Georgian Ministry of Environment and Natural Resources Protection appointed special manager in Georgian Manganese (subsidiary of Georgian American Alloys (GAA)) on May 11.

    The Ministry explains that the company continued activity with heavy violation of environmental legislation.


companies

    BANKEBI DA FINANSEBI: “LAST YEAR, INCOME OF GAMBLING BUSINESS EXCEEDED 4B LARI”

    May 15, 2017 - In 2016, income of gambling business exceeded 4.3 billion lari, the newspaper reports. At that, income of online betting shops has totaled to 849.09 million lari.


transport & communications

    REZONANSI: “MONOPOLY OF CARRIERS – HOW TENS OF MILLIONS EVAPORATE”

    May 18, 2017 - Vaso Urushadze, executive director of platform HUB Georgia, says that his organization has studied situation in oil-products transportation to neighboring countries. It was confirmed that GR Transit Line, which 100% belongs to Georgian Railway, enjoys monopolistic position, he declares.


    FORBES GEORGIA: “INTERVIEW WITH DIRECTOR GENERAL OF POTI SEAPORT”

    May 16, 2017 - Director general of Poti seaport Klaus Holm Laursen declares: “We can accept much more freights, than we accept today”. “I consider that situation in other ports of the region is similar”, he notes.


finances & banking

    FORBES GEORGIA: “NET PROFIT INDICATORS OF GEORGIAN BANKS”

    May 17, 2017 - Net profit of Georgian banks for the 1st quarter amounted to 258 million lari, of which 80% was share of 3 banks.

    Biggest profit was reported by Sakartvelos Banki (Bank of Georgia) – 118.4 million lari, which was increased year-on-year by 342%.


agriculture & food

    EUGEORGIA.INFO: “GEORGIAN EXPORTERS OF BAY LEAF WORK ON IMPROVEMENT OF PRODUCTION QUALITY”

    May 17, 2017 - Laurel in Georgia is mainly spread in the western part of the country, and until 1990-ies was considered as one of the main crops after tea and citruses, the article says.

    The article points that now, “Georgia has about 10-20 of bay leaf processing enterprises, from which about 5 enterprises are large exporters”.


    EUGEORGIA.INFO: “ASPARAGUS – DELICACY, DEMAND ON WHICH GROWS IN GEORGIA AND IN THE WORLD”

    May 16, 2017 - According to Carrefour Georgia, “demand for asparagus in Georgia much exceeds its offer”.

    “Within 5 years, demand grew by 60-70%”, this supermarket declares, though notes: “taking into account that industrial culture of asparagus cultivation in Georgia is still underdeveloped, we are supplied with asparagus seasonally, during spring-summer transition period, and in insufficient quantity”.


    BANKEBI DA FINANSEBI: “IT IS ABNORMAL WHEN THE COUNTRY WITH NATURAL CONDITIONS LIKE YOURS IMPORTS 70-80% OF FOOD”

    May 15, 2017 - Swiss ambassador to Georgia Lukas Beglinger stated that when the country with such natural conditions as Georgia imports 70-80% of food, “it is not only wrong, it is abnormal”.

    50% of the population is still occupied in agrarian sector, but the agriculture accounts for only 9% of GDP of the country that is “a huge gap which has to be filled”, Beglinger specified.


construction

    FORBES GEORGIA: ““ALLIANCE GROUP” ESTABLISHES FUTURE TENDENCIES IN CONSTRUCTION DEVELOPMENT”

    May 15, 2017 - The development company Alliance Group will invest $130 million in 3 innovative projects in Georgia, the magazine reports.

    In particular, the company will invests over $75 million in Alliance Tbilisi in Tbilisi (Chavchavadze Ave. 49b), the project which the company plans to complete in 2019.


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