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Tag Archives: Dimitri Kumsishvili

Government Prepares Special Presentation for EBRD’s Annual Meeting

Government Prepares Special Presentation for EBRD’s Annual Meeting

Georgian government prepares presentation of investment opportunities for EBRD’s annual meeting, which will be held in Cyprus in May, 2017. Finance Minister Dimitri Kumsishvili has declared about that at the meeting held with Bruno Balvaner, Regional Director of EBRD. According to Bruno Balvaner, merely several countries will be given presentation …

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Arab Investors Visiting Georgia

Arab Investors Visiting Georgia

Arab investors are visiting Georgia to receive information on Georgia’s investment environment. Keba Keinde, founder and chairman of Millennium Finance Corporation (MFC) is leading the group of investors. Minister of Finance Dimitri Kumsishvili updated Arab investors on current situation in various sectors of economy, including transport-logistics, tourism, bank-financing sectors. Arab …

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Supervision of the Financial Sector is Returned to NBG

Supervision of the Financial Sector is Returned to NBG

Supervision of financial sector is returned to National Bank of Georgia. Dimitri Kumsishvili has submitted the draft bill on delivery of supervision to NBG at the government session. “As a result of recent changes we considered that supervision of the financial sector should be returned to the National Bank. Therefore, …

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Finance Minister: Our Decision is to Protect Citizens from Business Model with Thousands % of Interest Rate

Kumsishvili: We are Meeting Investors on Restoration of Regional Airdromes

In his interview with the Kviris Palitra, Dimitri Kumsishvili, Minster of Finance and First Vice Prime Minster, has submitted arguments for restricting annual interest rates on loans. “Similar business companies appear in less-developed countries. They permanently expand range of activities before their operation is restricted. Online loan companies knew very …

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Bloomberg: Georgian Growth Above Target Will Aid Ailing Lari, Minister Says

Georgian Finance Minister Dimitri Kumsishvili said economic growth may exceed 5 percent this year thanks to tax cuts and planned infrastructure spending, helping to ease pressure on the nation’s currency. There are “realistic” prospects of beating the government’s 2017 target of 4 percent growth and meeting the World Bank’s forecast …

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USAID to Grant Georgia with More 22,5 million USD

USAID increased the grant for Georgia. The Minister of Finances, Dimitri Kumsishvili and the director of USAID mission in Caucasus, Douglas Ball signed the agreement in which the grant has been increased with 22.5 million USD. The agreement includes priority directions such as “Inclusive and Sustainable Economic Growth”, “Democracy control …

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The World Bank Announces on Continuation of Georgia’s Support

The World Bank Announces on Continuation of Georgia’s Support

Dimitri Kumsishvili has introduced the Vice-President of World Bank 4-point plan of the government and basic direction of 2017 budget. Minister of Finance and Cyril Muller have discussed cooperation priorities of Georgia and the World Bank at the meeting. Dimitri Kumsishvili noted, that 2017 state budget totally serves to the …

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Georgia to Sell 25% Stake in State Energy Firm GOGC in 2017

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Georgia plans to sell a 25 percent stake in the state Oil and Gas Corporation (GOGC) on an international stock exchange in 2017, the finance minister of the former Soviet republic said on Tuesday. “The corporation’s 25 percent stake will be placed on one of the exchanges abroad, in London …

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American OPIC to Build a New Harbour in Poti

The first vice-premier and minister of Economy and Sustainable Development,Dimitri Kumsishvili met the director of International Private Investment Corportation (OPIC), Kennet Angell. Vice prime minister, Kumsishvili thanked American side for all the successful projects which were implemented by the help of OPIC in Georgia. It has been noted that the …

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Company ISEKO Opened a new Production Line

Company ISEKO Opened a new Production Line

Company ISEKO has expanded. Newly renovated department and latest production line has been opened by the MP. The company managed to expand within the frame of state program “Produce in Georgia”. Company ISEKO has made investment of over 3 mln GEL and employed 30 new workers. ISEKO manufactures steel pipes, …

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New Hotels and Ropeways Underway in Gudauri

New Hotels and Ropeways Underway in Gudauri

Three new ropeways are being constructed in Gudauri. Minister of Economy Dimitri Kumsishvili has visited the working sites. The rope-way construction works are being carried out by Black Sea Group under the general design developed by Canadian company EcoSign. Rope-ways system of Doppelmayr, the world’s one of the leading companies …

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