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Yearly Archives: 2017

Record number of Georgian wine companies take part in ProWine China

A record 33 Georgian wine companies are participating in ProWine China in Shanghai – that’s 3 companies more than last year. One of largest wine fairs in China is open on 14-16 November in Shanghai’s SNIEC exhibition centre. The full list of Georgian companies represented at ProWine China follows below. …

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Construction of Business House to Start in 10 Days

Construction of Business House in Tbilisi is being started. Company NCC will begin building of construction of energy efficient Business House in 10 days and the company should receive 10.087 million GEL for that purpose. Total construction term of the building, arranged with reinforced concrete, amounts to 7 months. Additional …

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Demand for Georgian Products Grow on International Markets, Exports up 29.4%

Demand for Georgian Products Grow on International Markets, Exports up 29.4%

Georgia’s foreign trade turnover in January-October 2017 marked 8.566bln USD, up 12.7% year on year. According to Geostat, national statistics service of Georgia, exports in trade turnover made up 2.203bln USD, up 29.4% year on year, as compared to January-October 2007. Imports totaled 6.363bln USD, up 7.8%. Negative trade balance …

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Geostat Publishes 2016 GDP Growth Final Indicators

Geostat Publishes 2016 GDP Growth Final Indicators

The 2016 GDP in current prices constituted 34.028bln GEL, up 7.2% year on year. According to the final report of Geostat, national statistics office of Georgia, the real growth made up 2.8% year on year, while the deflator’s percentage changed by 4.2%. In the sectoral structure of GDP the trading …

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Nenskra HPP Project to Arrange Cleaning works in the Nakra River Valley

Nenskra Hydropower Plant Project company, JSC Nenskra Hydro will finance cleaning works of Nakra River tributaries’ beds in the Nakra village of Mestia municipality – Lekverari and Laknashera rivers. Cleaning works will be carried on request of the Nakra village community. As a result of natural events, occurred in recent …

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Contributory Pension System will not Burden Business Sector

Essence of Contributory Pension Reforms

Government of Georgia plans to launch contributory pension reforms in the second half of 2018. The scheme of the reform is as follows – all citizens will be involved in the pension scheme, who take salaries under signed labor contracts. The system comprises partly  obligatory component. Citizens over 40 years …

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Price of Bank of Georgia Shares Declines at LSE

Price of Bank of Georgia Shares Declines at LSE

Price of Bank of Georgia shares (BGEO LN) ranged from 35.42 GBP to 37.05 GBP in November 6-11 period. The trading trend turned out negative. The price of the share declined by 1% week on week, but rose by more than 8% month on month (0.95%w.w; +8.12% m.m). According to …

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Tamar Nibladze: PR is to Think of Your Customers Constantly

Tamar Nibladze: PR is to think of your customers constantly

Interview with Tamar Nibladze, PR Manager of sweets producer company ‘’Barambo’’. – Why did you decide to enter this field, and what kind of opportunities does this profession give you? I used to be an active person since childhood, I used to enjoy communicating with people, I often had a …

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Partnership Fund Seeking Investor for Building Head Office

Partnership Fund Seeking Investor for Building Head Office

Partnership Fund of Georgia is seeking an investor for building its head office. The Fund’s management does not plan to construct the new building with the budget finances. The new office will be located in Okrokana, the fund’s management told Business Course. Currently, negotiations are underway and the plan includes …

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Brand history – Lushnu

Brand history – Lushnu

Svanetian Salt, which has recently been granted a status of a cultural heritage, has become a business idea for father-son. Their enterprise is located in Mestia. In the near future, the sale of Svaneti salt will begin in both Georgian and foreign markets. It is planned to add other spices. …

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Essence of Contributory Pension Reforms

Essence of Contributory Pension Reforms

Georgia  to Launch Pension System reformation in 3Q18. Government of Georgia plans to launch contributory pension reform implementation in the third quarter of 2018. Ministry of Economy has already published the corresponding bill. If the system comes into force, the special pension fund will manage the mobilized funds, accrue interest …

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