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Daily Archives: January 6, 2017

Over 1.5 million Azerbaijanis Visit Georgia


Georgia saw a rise in number of travelers, especially Azerbaijanis, visiting the country in 2016. A total of 1,523,075 Azerbaijani citizens traveled to Georgia last year, Azertac reported citing the Georgian National Tourism Administration. The figure is more by 9.3 percent compared to the figure in 2015. Georgia received 1,283,214 …

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Wizzair Investments in Georgia Marked 98 million USD in 2016

Wizzair low-cost airline has appraised the 2016 performance as successful. The company press release reads that Wizzair has taken important steps, when unveiled a base in Kutaisi in September 2016 and offered low-cost flights to 11 destinations in 8 European countries. The airline has invested 98 million USD in the …

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Georgia Healthcare Completes ABC Acquisition

“Georgian Healthcare Group” has become sole holder of Iashvili Hospital. The company has already acquired 33,3%-share, remained in referral hospital, from “Aversi Clinic”. The alienation has been made by “Unimedi Kakheti”, member of GHG. As a result of the agreement achieved between the sides, “Aversi” has received 1 million USD on cash instead of 33,3% in Iashvili Clinic and no later than May 3, 2016, clinic “New Life” will be transferred under its ownership. The mentioned clinic has a maternity profile. As a result of transactions, GHG holds 44 healthcare facilities with 2 588 beds.

Georgia Healthcare Group announced on Friday that, following the receipt of regulatory approval, it has now completed the acquisition of JSC ABC Pharmacia, the fourth largest pharmaceutical retailer and wholesaler in Georgia. The London-listed firm said ABC will be merged with GHG’s existing pharma business with immediate effect. “This further …

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De-Dollarization to Start on 17th of January

Factors Behind the Georgian Lari’s Depreciation

On 17th of January, de-dollarization program will start. Individuals who had real estate bank loans in foreign currency will manage to convert it into national currency. At the same time, pre-coverage commission fee will be abolished. De-dollarization is implemented together by government and national bank. Subside will refer to bank …

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PMCG: Making Budgeting More Transparent and Accountable in Akhaltsikhe


PMCG is collaborating with Akhaltsikhe City Municipality to enhance the transparency and accountability of its budgeting process, as part of a consortium led by Tetra Tech ARD under the USAID Good Governance Initiative Program. In order to reach its goals, the project team will assist the Municipality to define mid-term …

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TELASI Company Installs Three Reverse Meters

TELASI company has already installed three reveres meters. Under amendments adopted in 2015, all subscribers are able to generate electricity themselves and sell excessive volume. Micropower electricity stations  are required to this end (solar panels of about 110 kw/h, wind generators and micro HPPs). According to changes to GNERC resolution …

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SYNOT Group Acquires Second Casino in Georgia

Czech-based SYNOT Group has recently acquired an existing casino license at the crossroads of Western Asia and Eastern Europe in Tbilisi, the capital and largest city of Georgia. Roland Andrýsek, sales director of SYNOT Group, said, “Georgian lottery market is fairly heavily regulated, the country has only a limited number …

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Banking Sector in 2016 in Review


Banking sector is meeting the New Year of 2017 with new merged and amalgamated companies. TBC Bank has become a hero company in 2016 with 315 million GEL transaction. TBC Bank has paid the mentioned amount to Societe Generale for bank assets. TBC paid 360 million GEL for acquisition and …

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Chairman of Ajara Tourism Department, Mamuka Berdzenishvili to Leave the Post

The Chairman of Ajara Tourism and Resorts Department, Mamuka Berdzenishvili was dismissed from this post.  It has been revealed that Berdzenishvili won’t work for government anymore. The duties of the chairman are fulfilled by Sofo Lazarishvili. When will Ajara government prove the new chairman is not known yet. Mamuka Berdzenishvili …

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Energo-Pro Georgia Introduces New Online System for Management of Resources

JSC Energo-Pro Georgia has completed introduction of IFS, the Swedish online system for management of resources. The IFS system enables the company to efficiently manage the existing resources that comprise financial, logistics, technical, projects management and other modules. The new system will enable the company to hold detailed information on …

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More than 60 Types of Cheese to be Produced in Teleti Factory

In the following days, Teleti Cheese New Factory will start functioning. As one of the factory founder, “Cheese House” founder, Ana Mikadze-Chikvadze says, the factory is determined to produce more than 60 types of cheese. “I’m going to produce all the cheese based on the recipes I have been collecting …

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Temur Chkonia Founded Companies Replenish State Budget by 85 million GEL in 2016

The companies founded by businessman Temur Chkonia have transferred 85 million GEL to state budget in 2016. In whole, the businessman has made 120-150 million GEL investments since inception of business activities in Georgia. Businessman Temur Chkonia has founded Coca-Cola Bottlers Georgia, T&K Restaurants, Castel Georgia, CO2 – liquefied oxygen …

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