Economy
17 April, 2014
17 April, 2014
Employees of 42 freight carriers operating in Poti Port of Georgia started a warning strike on 4 April to protest the monopolist position of APM Terminals, which owns and operates Poti Port. The Ministry of Economy and Sustainable Development of Georgia promised to clear the situation to satisfy all sides, however, no solution was drawn as of yet. The strike halted Poti Port working process for 2 hours, however, this was just a warning for larger protests to come soon if APM Terminals, which owns and manages the Poti Port together with its adjacent Poti Free Industrial Zone, does not stop the monopolist practice that poses threats to all 42 logistic companies based in Poti to go bankrupt and leave their 5 000 employees jobless.
Read more
17 April, 2014
17 April, 2014
Share of agriculture loans has increased more than five-fold from GEL 59 million to GEL 318 million in loan portfolio of the Georgian banking sector within a year, the Georgian government reported on 10 April. This is a result of the state-initiated Preferential Agro-Credit Project that started on 27 March 2013 and implies state co-financing of banking credits for farmers and agriculture related enterprises in order to boost the sluggish agriculture sector of Georgia.
Read more
17 April, 2014
17 April, 2014
The funding scheme of the Public Service Halls deployed throughout Georgia since 2011 - 2012 poses questions about corruption deals or state pressure on businesses. This is the message sent early this April by a recent report of the Institute for Development of Freedom of Information (IDFI) that studied financing of 12 Public Service Halls (PSHs) mushrooming within a year and a half in the country as a part of one of the most acclaimed public reforms carried out by the previous authorities. According to the report, the private sector financed 4.2% of the construction works voluntarily.
Read more
17 April, 2014
17 April, 2014
The Crimea crisis is expected to divert the tourist inflow from Ukraine to Georgia this summer. Ukrainian media has already reported that the cruise season will fail in Crimea this year since a large number of cruise ships and lines have canceled their routes to the ports of Yalta and Sevastopol. These ports will very likely be shifted to ports in Georgia, Turkey, Romania and Bulgaria.
Read more
17 April, 2014
17 April, 2014
The Kazakh-owned Batumi Black Sea Port of Georgia is accused of discriminating against the Georgian logistic companies, and of corruption deals. The Georgian freight forwarding company Trans-System accuses Talgat Baitaziev, CEO of the Kazak-owned Batumi Industrial Holding which owns Batumi Port, of discrimination. As Dimitry Gabunia, lawyer of Trans-system, reported on 15 April to the media, Trans-System dismisses its contract with the port and demands more than one million USD as compensation. The afflicted company plans to file a lawsuit at the Batumi city court as well as with the General Prosecutors’ Office of Georgia.
Another logistic company, the international container terminal BICT, has already filed a lawsuit against Batumi Port at the London arbitrage court. This claim is about discrimination of the terminal’s activity from the port through illegal means and contract breakage.
Read more
15 April, 2014
15 April, 2014
Georgia awaits an increase in the amount of tourists due to the Crimean crisis.
Read more
12 April, 2014
12 April, 2014
“Georgian Naturals” exports processed Georgian fruit to USA, Europe and up to 30 Asian countries. The company processes fruit either by freezing it or exporting abroad as juice.
Read more
10 April, 2014
10 April, 2014
“Georgian Bouquet”, a company located in Ozurgeti, started accepting bilberry leaves from local denizens.
Read more
10 April, 2014
10 April, 2014
Export of Georgian wines has been stumbling over alleged technical problems in Belarus for five months already. Some sector players discern alleged political overtones tying the problem to the Kremlin which initiated the customs space of the so called Eurasian Union by gathering Belarus and Kazakhstan in alliance with Russia. The Georgian authorities deny the presence of any political factors and promises the situation will be cleared soon.
Read more