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Monthly Archives: March 2016

Georgian Bouquet to Commence Tea Processing Plant Construction

Georgian Bouquet to Commence Tea Processing Plant Construction

LLC Georgian Bouquet plans to start tea processing factory construction. The company had already been transmitted the land from the government at a miserable price 1 GEL. Thus the company is located in the village Dvabzu, Ozurgeti region. Ilia Basilashvili, the founder of the company makes a statement that 1 million GEL will be invested …

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Millions of GEL for Electricity Supply of Abkhazia will be Written off

Millions of GEL for Electricity Supply of Abkhazia will be Written off

Official Tbilisi will written off Millions of GEL for electricity supply of Abkhazia in this year as well. Total debt of 2014-2015 amounts to 56 million. As of the government decree, LLC “EbgurHES”, LLC “VardnilHES Cascade” and “Georgian State Electricity” will written off the debt. Namely, hopeless debt of “EbgurHES” amounts to …

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Rouhani Preparing to Visit Pakistan to Spur Energy Projects

Rouhani Preparing to Visit Pakistan to Spur Energy Projects

Iranian president Hassan Rouhani is preparing to visit Pakistan in coming days, IRNA reported on March 22. According to the report, the major agenda at Rouhani’s visit to Islamabad is negotiation over Iran-Pakistan gas pipeline as well as boosting power export to this country. Before, Pakistani Express Tribune reported that two …

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Russia Considered as The Key Export Market of Mineral Waters

Russia Considered as The Key Export Market of Mineral Waters

Russia is considered as the key export market of mineral waters. According to official data,  mineral waters of 12,028 million USD were sold at the foreign market through January – February of this year, Decline is 19,5% y-o-y. Mineral waters are ranked as the 6th with 4,3%-share in the total …

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Nino Popkhadze: Medication Prices Decline, Stricter Quality Control Required

Nino Popkhadze

Nino Popkhadze, head of the Healthcare Platform NGO, has commented on the medication price reduction tendencies. The pharmaceutical market realities are changing at high paces after major pharmacy networks released statements on plans for lowering medication prices. Moreover, Georgian Healthcare Group (Bank of Georgia holding) has recently purchased the GPC …

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Air Astana Airline to Offer Georgian Wines to Passengers Onboard

Air Astana Airline to Offer Georgian Wines to Passengers Onboard

Air Astana, the national airline of Kazakhstan, plans to include Georgian wines in its onboard services so as onboard passengers be able to taste Georgian wines. This campaign will be carried out as part of the Georgian Wine Week that is underway in the VIP Hall that was recently unveiled …

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Gino Wellness Group to Open Hotel in Mtskheta

Gino Wellness Group to Open Hotel in Mtskheta

Wellness-hotel that will have over 22 rooms, will be opened in Mtskheta, at the end of April. The construction process of the Hotel building is implemented by Gino Wellness Group. According to the company representative, Ramaz Mikadze announced to “businessconatct“, that the project also takes into account the construction plan …

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David Gogichaishvili: I Gave up Bank Career because of Compressed Time

David Gogichaishvili

Caucasus Business Week had an exclusive blitz interview with General Manager of Night Show Studio, David Gogichaishvili. I graduated higher schools in both Georgia and abroad. For example, I hold three BA diplomas in banks and finances, journalism and the English Language and Literature. Moreover, I have finished MA degree …

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Evaluation of Georgia’s Foreign Direct Investment

Georgian money

Foreign Direct Investments (FDI) has acquired a vital importance for both developed and developing markets in the contemporary globalizing world. According to the preliminary report by Geostat, the national statistics service of Georgia, the country drew 1.35 billion USD FDI in 2015, down 23% compared to the 2014 final indicators. …

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Finance Ministry Made No Influence on GEL Exchange Rate Changes

Finance Ministry Made No Influence on GEL Exchange Rate Changes

 Georgian Finance Minister Nodar Khaduri has commented on strengthened GEL exchange rate and explained the tendency by changed situation on the regional level. The Finance Ministry has not made influence on either upturn or devaluation of the GEL exchange rate. “External factors have changed and regional economies, including oil exporter …

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