Economic Press Monitor December 25 - 31, 2022	Days:  17 24 31 14 21

economic & politics

NETGAZETI.GE: ““ABKHAZIA COULD BECAME MONACO, WE COULD INVEST $10B””

December 28, 2022 - “In case of unification of our country, we could invest about $10 billion in the first 3 years in Abkhazia”, Georgia’s Prime Minister Irakli Garibashvili declared.

“This could be organized very easily and we have conceptualized this topic”, Garibashvili said, noting: “Abkhazia could turn into another Monaco”, and “Sukhumi – the second Monte Carlo”.




BANKEBI DA FINANSEBI: “BY THE GOVERNMENT DECREE, MINIMAL COMPENSATION TO DOCTORS DEFINED AS 1,260 LARI, TO NURSES – 792 LARI”

December 27, 2022 - By decree of the Georgian government, minimal compensation to doctors defined as 1,260 lari, while to nurses – 792 lari.

Zurab Azarashvili, Georgia’s Minister of IDPs from Occupied Territories, Labor, Healthcare and Social Protection, pointed that the mentioned salary volume is the minimum limit, not a fixed one.

energy, oil & gas

REZONANSI: “THE GOVERNMENT HAS FINALLY ABANDONED CONSTRUCTION OF A GAS STORAGE”

December 27, 2022 - Earlier, there were constant talks in Georgia about construction of a gas storage facility, but necessary resources were never found, while now it seems that the government abandoned this project, the newspaper says.

According to existing calculations, investment cost of the project of gas storage with a capacity of 300 million cubic m exceeds 250 million EUR, which was supposed to be financed by loans from the European Investment Bank (EIB) and the German Bank for Reconstruction and Development (KfW).

companies

FORBES GEORGIA: ““TBC BANK” AND EBRD FINANCED A KVEVRI FACILITY, A HIGH-TECH BOTTLING LINE AND VINEYARDS CULTIVATION FOR “TBILVINO””

December 28, 2022 - TBC Bank and EBRD allocated 12 million lari to Georgian wine-making company Tbilvino. At the expense of these funds, the company will build a facility of kvevri (Georgian traditional wine vessel), a high-tech bottling line and will plant vineyards of unique Georgian varieties.




NETGAZETI.GE: “NEW GOLD DEPOSIT WILL BE SEARCHED IN KVEMO KARTLI”

December 26, 2022 - Company Goldsept Kartli will start exploration of new gold deposit in Bolnisi and Marneuli municipalities (Kvemo Kartli region). The company won the auction of Georgian National Mining Agency, held on August 30.




BANKEBI DA FINANSEBI: “IN AGREEMENT WITH GNERC, “TBILISI ENERGY” WILL INVEST OVER 174M LARI”

December 26, 2022 - In 2023-2027, LLC Tbilisi Energy (Tbilisi gas distributor) will invest 174.39 million lari. The company already agreed the investment plan with Georgian National Energy and Water Supply Regulating Commission (GNERC).

transport & communications

REZONANSI: “TRAFFIC JAMS AND IMPASSABLE STREETS ALREADY CAUSE ECONOMIC PROBLEMS”

December 27, 2022 - Tbilisi Mayor Kakha Kaladze claims that problem of traffic jams, existing in Georgian capital city, is related to the number of cars.

While the branch experts name other reasons and indicate lack of either corresponding readiness or policy to resolve the problem, the newspaper says.

international cooperation

BANKEBI DA FINANSEBI: “MANUFACTURING OF DRONES STARTS IN GEORGIA TOGETHER WITH A POLISH COMPANY”

December 28, 2022 - Georgia’s Prime Minister Irakli Garibashvili declared that in a few months, Georgia will launch production of drones together with a Polish company (not named). “Production of several thousand drones is possible in the country”, he said.

agriculture & food

BANKEBI DA FINANSEBI: “MALKHAZ DOLIDZE: INSCRIPTIONS “YEAST-FREE BREAD”, “0 SUGAR”, ETC., ARE MARKETING TRICKS”

December 26, 2022 - From January 1, 2023, Georgian bread and flour production is subjected to obligatory adoption of HACCP standard (Hazard Analysis and Critical Control Points). Facilities of all types, including small bakeries producing traditional Georgian bread, will have to meet requirement of the standard.




BANKEBI DA FINANSEBI: ““IN TERMS OF BREAD PRICE STABILITY MAINTENANCE, ONE MORE CHALLENGE IS RELATED TO COMPENSATION TO EMPLOYEES AND FLOW-OUT OF STAFF FROM THE SPHERE””

December 26, 2022 - Levan Silagava, executive director of Georgian Wheat and Flour Producers Association, supposes that the stable market situation in connection with wheat will remain until March of the next year. “Proceeding from the trends on the global market, challenges will take place in spring”, he says.

construction

FORBES GEORGIA: “WHEN WILL CONSTRUCTION OF THE HIGHWAY COME TO AN END? | INTERVIEW WITH GIORGI TSERETELI”

December 28, 2022 - Giorgi Tsereteli, head of Georgian Roads Department, says that the East-West Highway (E60) should be put in operation in 2024.

“The biggest challenge was the contractors’ fail to fulfill their obligations”, Tsereteli indicates.