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Daily Archives: December 28, 2015

Georgian Consulate Mounts Successful Three-City European Art Road Show

The Consulate of Georgia in the Philippines, led by Consul (a.h.) Thelmo Cunanan Jr, the Dean of the Corps of Honorary Consuls of Georgia, has organized a successful three-city European art roadshow of Georgian-inspired paintings. The exhibitions were held in Innsbruck, Austria; Bratislava, Slovakia; and Paris, France from November 29 …

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Tourism Sector Greets 2016 With a Positive Outlook

The National Tourism Administration positively appraises the 2015 tourism season. The administration head Giorgi Chogovadze assures the 2015 report will register record figures. The administration will continue campaigns for attracting foreign tourists in 2016. The next year Georgia will host the first international wine conference that is organized bye the …

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Energy Sector Achievements and Challenges of 2015

Kakha Kaladze

The year of 2015 was very important and full of challenges for the Georgian power system. Many interesting projects were carried out in both generation and infrastructure parts. Georgia gives priority to hydropower system development. Large-scale projects should be implemented to this end. Real perspectives were outlined for many projects. …

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VTB Bank Replaces Procredit Bank in Georgia’s Top 5 Leading Banks

According to the data of banking sector 14.065 billion deposits are located in Georgian banks out of which 81% belong to top 5 banks. Portfolio of legal and individual entities, has increased by 26%, VTB Bank has Replaced Procredit Bank in Georgia’s Top 5 Leading Banks. Banking sector’s revenues of 11 months …

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Economist Assesses Georgia’s Devaluated Economy in 2015

GEL Devaluation

The GEL exchange rate depreciation is considered a main economic event in 2015. Until October 2015, the national currency was volatile and vulnerable to devaluation in relation to both EUR and USD. The GEL devaluation process broke out in autumn 2014. In the end, the national currency volatility period ended …

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Bakuriani Meets Winter Season With New Ski Lift


Construction of a ski lift on Mountain Kohta which is located in Georgia’s ski resort Bakuriani has finished. Rehabilitation of Kokhta Ski Chairlift was conducted on behalf of memorandum signed among  National Agency of State Property of the Ministry of Economy and Sustainable Development of Georgia, LEPL Mountain Resorts Development …

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