Economy
Georgian wine export resumed to Belarus
24 April, 2014
Georgia resumed the halted wine export to Belarus, Levan Davitashvili, Chairperson of the National Wine Agency of Georgia, informed on April 17.
“The export to Belarus stumbled starting this year. Early this April a delegation of the Ministry of Agriculture headed by Shalva Pipia, Minister of Agriculture, went to Minsk and achieved concrete results. NWA has already issued the first export certificates on Tbilvino Company on the export of around 80 000 bottles,” Davitashvili reported and added that the problems did not cover only Georgia.
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Schuchmann Chateau competes at international level
24 April, 2014
he best way to develop the wine export is to develop wine tourism first of all, wine sector pundits say. Georgia being acknowledged as the cradle of wine that has been producing wine uninterrupted for about 8 000 years in its unequalled Qvevri technology, plus having 520 grape varieties in its national gene pool it has full chances to become one of the key destinations on the global wine tourism map. However, according to the latest statistics, only 5% out of more than 5 million tourists visiting Georgia in 2013 named wine tourism as their visit goal while wine tourism is a pillar of the economy in many major wine-producing countries including the so-called New World regions where wine producing started just 200-300 years ago.
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Cost of living for 6-member families in Georgia is 366 GEL
19 April, 2014
In March 2014, an able-bodied man’s subsistence wage comprised 155.4 lari.
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2 new McDonald’s restaurants - in Saburtalo and Gldani
18 April, 2014
T & K Restaurant Franchise Group, owner of a worldwide known fast food franchise “McDonalds” in Georgia are planning to invest 6 million Euros into expanding the restaurant network.
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All state funds under one umbrella
17 April, 2014
ll state funds of Georgia will be united soon under a new financial institution which will focus on financing big projects that are important to the state. Ex-Prime Minister Bidzina Ivanishvili had already announced creation of a state development bank on the basis of the unification of all state funds. However, the authorities are not certain so far whether or not the new institution will be named as a bank or will remain a fund, Minister of Economy and Sustainable Development of Georgia said. Officials cannot provide precise details of the new institution until the project is completed.
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Poti logistic companies strike against the monopoly
17 April, 2014
Employees of 42 freight carriers operating in Poti Port of Georgia started a warning strike on 4 April to protest the monopolist position of APM Terminals, which owns and operates Poti Port. The Ministry of Economy and Sustainable Development of Georgia promised to clear the situation to satisfy all sides, however, no solution was drawn as of yet. The strike halted Poti Port working process for 2 hours, however, this was just a warning for larger protests to come soon if APM Terminals, which owns and manages the Poti Port together with its adjacent Poti Free Industrial Zone, does not stop the monopolist practice that poses threats to all 42 logistic companies based in Poti to go bankrupt and leave their 5 000 employees jobless.
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Agriculture credits project summed up
17 April, 2014
Share of agriculture loans has increased more than five-fold from GEL 59 million to GEL 318 million in loan portfolio of the Georgian banking sector within a year, the Georgian government reported on 10 April. This is a result of the state-initiated Preferential Agro-Credit Project that started on 27 March 2013 and implies state co-financing of banking credits for farmers and agriculture related enterprises in order to boost the sluggish agriculture sector of Georgia.
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Voluntary funding or state pressure?
17 April, 2014
The funding scheme of the Public Service Halls deployed throughout Georgia since 2011 - 2012 poses questions about corruption deals or state pressure on businesses. This is the message sent early this April by a recent report of the Institute for Development of Freedom of Information (IDFI) that studied financing of 12 Public Service Halls (PSHs) mushrooming within a year and a half in the country as a part of one of the most acclaimed public reforms carried out by the previous authorities. According to the report, the private sector financed 4.2% of the construction works voluntarily.
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Crimea crisis may divert tourists to Georgia
17 April, 2014
The Crimea crisis is expected to divert the tourist inflow from Ukraine to Georgia this summer. Ukrainian media has already reported that the cruise season will fail in Crimea this year since a large number of cruise ships and lines have canceled their routes to the ports of Yalta and Sevastopol. These ports will very likely be shifted to ports in Georgia, Turkey, Romania and Bulgaria.
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