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10-08-2010
U.S.-Georgia Business Summit and Trade Mission to Georgia
On September 8-9, 2010, the U.S. Department of Commerce will host a Business Summit to promote new trade and investment relationships between U.S. and Georgian companies. In conjunction with the Summit, the American Chamber of Commerce in Georgia is organizing a Trade Mission, certified by the U.S. Department of Commerce, for U.S. companies interested in the Georgian market. 30-07-2010 United States Department of Commerce Commercial Law Development Program (CLDP) Workshops on U.S. Import Standards for GSP-Eligible Agricultural Products In July 2010, CLDP held workshops, sector-specific meetings, and site visits in Tbilisi, Kutaisi and Batumi for relevant government officials, trade association representatives, and private sector producers on how to expand Georgia’s exports under the GSP program and how to satisfy U.S. import standards and regulations. CLDP coordinated this project with the U.S. Embassy in Georgia, the Georgian Ministry of Economic Development (National Investment Agency), the Georgian Ministry of Agriculture, the Georgian Chamber of Commerce and Industry, the American Chamber of Commerce in Georgia, USAID, the Office of the United States Trade Representative (USTR), the U.S. Food and Drug Administration (FDA), the U.S. Department of Agriculture (USDA), the Alcohol and Tobacco Tax and Trade Bureau (TTB), and U.S. Customs and Border Protection (CBP). The faculty for the program included a representative from USTR, FDA, USDA/APHIS, TTB, CBP, and the U.S. Department of Commerce. 08-07-2010 Third U.S. Department Of Agriculture Trade And Investment Mission to Georgia TBSC Consulting, together with the American Chamber of Commerce in Georgia (AmCham Georgia), is organizing the USDA Trade & Investment Mission (July 12-15, 2010). The goal is to help US companies find local counterparts (partners, clients, vendors, etc) in Georgia. 11 American companies operating in the agricultural sector will visit Georgia to meet with local businesses and learn about opportunities in the country. You can see the summary profiles of U.S. TIM delegates. For more information please contact TBSC Consulting or AmCham Offices. You can also download the press release for USDA TIM 2010. Up-to-date information about USDA's activities related to promoting agricultural trade and investment can also be found at USDA Foreign Agricultural Service website. 22-06-2010 Workshops on U.S. Import Standards for GSP-Eligible Products resumed Due to the Icelandic volcano that disrupted travel to Georgia from the US and from Europe from April 16-19, 2001, DoC Commercial Law Development Program (CLDP) was forced to postpone the series of workshops planned for Tbilisi, Kutaisi, and Batumi, Georgia from April 19-23, 2010.
In July 2010, CLDP will hold workshops, sector-specific meetings, and site visits in Tbilisi (July 21-22), Kutaisi (July 23) and Batumi (July 26) for relevant government officials, trade association representatives, and private sector producers on how to expand Georgia’s exports under the GSP program and how to satisfy U.S. import standards and regulations.
For more information or to register for the workshops, please contact Kate Sidamonidze at the AmCham office. Important note: Participants who have already registered for the April seminars postponed due to the recent volcano eruption, do not need to re-register. 17-05-2010 United States Transportation Command (USTRANSCOM), in cooperation with the American Chamber of Commerce in Georgia, held a USTRANSCOM Procurement Seminar at the Tbilisi Marriott Hotel In an effort to reduce transportation costs to Afghanistan, the U.S. Government has announced a new initiative to purchase supplies in Georgia. On May 15 USTRANSCOM conducted an informative seminar that aimed to help the participants learn how their companies can participate in this initiative. Time was also available for one-on-one discussions with purchasing agents. Producers operating in the following fields are eligible to become suppliers for the given mission:
This workshop was intended for medium to large manufacturers, suppliers and distributors who have experience with international trade and export of the above mentioned types of goods and supplies. Please note that quality standards and other regulations are required to become a supplier. These regulations and quality standards were discussed during the first part of the workshop where the Prime Contractors presented their supply needs and operating standards. 100 persons from over 60 companies operating in Georgia attended the seminar. 19-04-2010 Georgian Winemaking Companies Expect 2010 to Record Rise in Sales Global sales of Georgian wine have been rising steadily this year with first quarter returns showing the export market has climbed by 60 percent. Winemakers say this trend shows that the country's wineries have weathered the storm of the economic crisis. 01-04-2010 LEPL Data Exchange Agency presentation The Data Exchange Agency DEA, launched in January 2010, held an official presentation of the agency’s goals and objectives at the Tbilisi Marriott Hotel on April 1, 2010. DEA aims to coordinate e-governance issues in Georgia, to create data exchange infrastructure and to develop and implement policies related to information security. Please see the presentation about the goals and objectives of DEA presented by Irakli Gvenetadze, Chairman of the LEPL Data Exchange Agency under the Ministry of Justice of Georgia. Also available: presentation on Universal Triangle of E-governance made by Giorgi Vashadze, Deputy Minister of Justice of Georgia. 29-03-2010 Workshops on U.S. Import Standards for GSP-Eligible Products During the week of April 19, 2010, in cooperation with the U.S. Embassy in Georgia, the Georgian Ministry of Agriculture, the Georgian Ministry of Economic Development/National Investment Agency, the Georgian Chamber of Commerce and Industry, the American Chamber of Commerce in Georgia, USAID, USTR, USFDA and USDA/APHIS, CLDP will hold workshops, sector-specific meetings, and site visits in Tbilisi, Kutaisi and Batumi for relevant government officials, trade association representatives, and private sector producers on how to expand Georgia’s exports under the GSP program and how to satisfy U.S. import standards and regulations. The American Chamber of Commerce in Georgia is selecting and managing all of the program participants. Please click here to download the Nomination Form in Georgian and English or contact Kate Sidamonidze at the AmCham office for more information. 12-03-2010 Golden Brand Awards 2009 Ceremony  On March 9, 2010 Global Idea and newspaper FINANCIAL, with support from the Georgian Chamber of Commerce and Industry and the American Chamber of Commerce in Georgia held the 5th yearly Golden Brand 2009 awards ceremony revealing the best brands of the past year. The event was held at the Radisson Blue Iveria Hotel. The main aim of Golden Brand Award has always been to promote and popularize branding activities of Georgian and foreign companies operating in Georgia. 04-02-2010 GVINADZE & PARTNERS LAW FIRM LAUNCHED
01-02-2010 Information Resource Center Newsletter Information & Communication: Information Technology, E-Government and E-Commerce - January 2010 Newsletter from the Information Resource Center - an excellent resource of articles, research, statements and other information. Click here to see the Newsletter. 26-01-2010 RAKIA Georgia Free Industrial Zone LLC RAKIA GEORGIA FIZ LLC has established the FIRST free industrial zone in the Caucasus region at Poti in Georgia. The company was created in June 2008 by RAK Investment Authority (RAKIA), a government of Ras Al Khaimah, U.A.E. nodal agency. RAKIA GEORGIA FIZ is 100% subsidiary of RAKIA. 26-01-2010 StatoilHydro becomes STATOIL and gets a new logo Norwegian-based oil and gas companies Statoil and Norsk Hydro merged two years ago, forming StatoilHydro. 26-01-2010 EUROCHAMBRES’ International Trade & Customs Academy Forum 2010 The next edition of the EUROCHAMBRES’ International Trade & Customs Academy Forum 2010 will take place on January 24th–27th, 2010 at the "Ferme de La Ramée”, a beautiful training centre located in the heart of Belgium, just 40km from Brussels. 26-01-2010 Georgian wine first time on the Market- and Product plan of Norwegian State Monopoly – VINMONOPOLET A key element in Norwegian alcohol policy has been to remove the private profit motive from sales of wine, spirits and strong beer. As a result, VINMONOPOLET that was founded in 1922 is wholly owned by the state, subordinated to the Ministry of Health and Social Affairs. 22-01-2010 Georgia - The 26th Freest economies in the world In January 20, 2010, the Heritage Foundation published "2010 Index of Economic Freedom”, where Georgia ranks the 26th freest economies in the world, up from 32nd position in 2009. Georgia’s economic freedom score is 70.4 out of 100, 0.6 point higher than the last year. Georgia is ranked 14th out of 43 countries in the Europe Region and its overall score is higher than the world average. Estonia is the only Post Soviet country of the rating, which is ahead of Georgia and ranks 16th place. 28-12-2009 Bank of Georgia and American Express launch two American Express Cards Issued in Georgia JSC Bank of Georgia (LSE: BGEO; GSE: GEB) (the "Bank”), Georgia’s leading bank announced today the launch of the American Express Card and the American Express Gold Card (the "Cards”) issued in Georgia. Bank of Georgia is an exclusive partner of American Express for Credit Card Acquiring and Issuing in Georgia as per agreement signed in December 2008. 28-12-2009 JSC Bank of Georgia receives the Bank of the Year Award by The Banker JSC Bank of Georgia (LSE: BGEO) (the "Bank”), Georgia’s leading universal bank announced today that it has received The Bank of the Year 2009 award by The Banker. The award, introduced in 2000, is given to the leading commercial and investment banks worldwide in recognition of their achievements. 15-12-2009 Roundtable on Deep and Comprehensive Free Trade Agreement with EU: Food Safety/Sanitary and Phitosanitary (SPS) Measures Eurasia Partnership Foundation (EPF), through its European Integration program, is conducting a series of roundtables to facilitate the creation of the appropriate conditions and policies for launching negotiations on a Deep and Comprehensive Free Trade Agreement (DCFTA) with the EU as part of the new Eastern Partnership initiative. The third consecutive roundtable on DCFTA with EU: Food Safety/SPS Measures was held on December 14th 2009 at the Sheraton Metechi Palace, Tbilisi, Georgia. 27-11-2009 EU-Georgia Visa Facilitation and Readmission Agreements are initiated EU-Georgia Visa Facilitation and Readmission Agreements were initiated in Brussels on November 25th 2009. The documents were initiated by the Deputy Foreign Minister of Georgia Mr. David Jalagania and the Deputy Director General of the European Commission's Directorate General for Justice, Freedom and Security Mr. Jean Louis de Broewer. 19-11-2009 EUGBC position paper submitted to the Eastern Partnership Civil Society Forum The Eastern Partnership Summit held in Prague on May 7th confirmed the European Commission proposal from December 2008 to establish the Eastern Partnership Civil Society Forum (EaP CSF) to promote contacts among Civil Society Organizations and facilitate their dialogue with public authorities in Armenia, Azerbaijan, Belarus, Georgia, Republic of Moldova and Ukraine. The first EaP CSF meeting took place on November 16th-17th 2009 in Brussels. 06-11-2009 The Government of Georgia’s Liberty Act On November 6th 2009 the Government of Georgia made public the drafts of the Constitutional Amendments and the Constitutional Law on Liberty, Opportunity and Dignity (together referred as the Liberty Act). The Liberty Act is the result of the President’s initiative unveiled in his address to Parliament on October 6, 2009 and aims to constitutionally enshrine the key economic policies Georgia has successfully pursued since the Rose Revolution. 03-11-2009 Ministry of Finance was awarded three prizes at the GITI Awards 2009 Second regional Georgia IT Innovation Conference was held in Sheraton Metechi Palace Hotel on October 29-30, 2009. The event was organized by the Georgia ICT Business Council and the State Commission of e-Governance Development of Georgia, with the support of USAID Georgia and the RCI Project. More than 250 participants from twelve countries participated in the two-day conference aimed at sharing IT best practices in public and private sectors. 28-10-2009 10th Meeting of EU-Georgia Cooperation Council was held in Luxembourg on October 26th, 2009 The Cooperation Council between the European Union (EU) and Georgia held its tenth Meeting in Luxemburg on October 26, 2009. The Georgian delegation was headed by Grigol Vashadze, Minister of Foreign Affairs of Georgia and the European delegation was headed by Karl Bildt, Minister of Foreign Affairs of Sweden, which holds the current presidency of the EU. 26-10-2009 Eurasia Partnership Foundation public discussion - European Integration and Eastern Partnership: Challenges and Opportunities On Friday, October 23, 2009 Eurasia Partnership Foundation (EPF) commenced its second round of public discussions on European Integration. Through its European Integration program, EPF conducts roundtable discussions to promote the wider participation of Georgian society in the process of committing towards common European values. 20-10-2009 Georgian IT Innovation Conference and Awards 2009 Second regional Georgia IT Innovation Conference will be held in Tbilisi on October 29-30, 2009. The event is organized by the Georgia ICT Business Council and the State Commission of e-Governance Development of Georgia, with the support of USAID Georgia and the RCI Project. For more information please contact organizers at giti@economy.ge The purpose of this conference is to describe the significance of information technology in terms of creating an engine of growth for socio-economic development of Region; network with stakeholders and build awareness regarding IT importance among high-level governmental officials, private sector representatives and the society at large. 19-10-2009 New wave of privatization The Government of Georgia announced the beginning of the new wave of privatization in response to the economic rebound and to reflect interests of investors. Click here for more information. 13-10-2009 Minister of Economic Development, Zurab Pololikashvili organized reception for the business community of Georgia On October 12, 2009 the newly appointed Minister for Economic Development, Zurab Pololikashvili gave a reception to meet and introduce with the business community in Georgia. The Ministry of Economic Development of Georgia started working out a new strategy for the development of Georgian economy, and with this intention Minister Pololikashvili held a meeting with Georgian businessmen. 12-10-2009 AmCham-EUGBC SME Committee established On October 9, 2009 a special inter-organizational AmCham-EUGBC SME committee was formed. The Committee members include EUGBC, AmCham, civil movement "Solidarity”, Business and Economic Center, International Association of Business and Parliament, UNDP, TBC Bank, Bank of Georgia, Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ), independent economists and financial institutions. The partners of the Committee are Friedrich Ebert Stiftung and Eurasia Partnership Foundation. Kakha Kokhreidze from the civil movement "Solidarity” is appointed as Executive Secretary of the committee. 09-10-2009 EU starts negotiations on a Common Aviation Area Agreement with Georgia On October 6th-7th 2009 European Commission held the first round of negotiations on Comprehensive Aviation Agreement with Georgia in Tbilisi. 11-09-2009 America-Georgia Business Council's 12th Annual Conference America-Georgia Business Council's 12th Annual Conference Georgian Adventure: Where Business Meets Opportunity will be held on October 15 at Tbilisi Marriott Hotel (13 Rustaveli Ave., Tbilisi, Georgia). Please click here to download the application form. 11-05-2009 EU progress report Georgia 2008 released On April 23, 2009 the European Commission released a Progress Report Georgia - Implementation of the European Neighbourhood Policy in 2008. Please click here to download the document. 23-03-2009 Georgian Glass & Mineral Waters Company Acquires Borjomi Mineral Water Production License On March 20, 2009 the Ministry for Economic Development of Georgia held the auction on issue of the license for minerals extraction on the Borjomi mineral water deposit. Georgian Glass & Mineral Waters Company became the holder of the license for the term of 25 years. The starting price of license was the equivalent of 8 million USD in GEL, and the increment was equal to 200000 USD in GEL. Georgian Glass & Mineral Waters Company has acquired the license at 8 200 000 USD. 20-03-2009 "GAZ ENERGY" (GEORGIA) IN SEARCH FOR PARTNERS The company "GasEenrgy” is engaged in distribution of liquid and natural gas. Supplies are conducted form Azerbaijan, Turkmenistan and Kazakhstan. Loading capacity of the reservoir stock is 25% by the present moment. A remaining part of reservoirs stands idle and several high-capacity terminals may be formed form them for liquid gas in any other place. As there are railway lines brought to the territories owned by the company "GasEnergy”, there may be formed freight terminals, different productions, industrial stocks, etc. "GasEnergy” is ready to cooperate both with producers and distributors of gas and other interested persons. 17-03-2009 Golden Brand Awards  On March 6 Global Idea and newspaper FINANCIAL, with support from the Georgian Chamber of Commerce and Industry and the American Chamber of Commerce in Georgia held a yearly Golden Brand 2008 awards ceremony revealing the best brands of 2008. The main aim of Golden Brand Award has always been to promote and popularize branding activities of Georgian and foreign companies operating in Georgia. 24-02-2009 Pocket Tax Book published by Ministry of Finance With assistance from the European Union and Ernst & Young LLC, a Georgia Pocket Tax Book was launched at a Media Event by Mr. Kakha Baindurashvili, Minister of Finance and Ambassador Per Eklund, Head of Delegation of the European Commission to Georgia. With the EU support, Ernst & Young and the Revenue Service have developed this easy to read introduction to the tax laws of Georgia to support decisions of foreign business to invest in Georgia. The information it contains is based on taxation law and practice in force as of December 2008 and covers all the main aspects of the tax system in Georgia. Please click here to see the electronic version of the Pocket Tax Book. 17-02-2009 Georgia’s European Way 4th International Conference - Georgia’s European Way – ENP AP Implementation in Georgia was held in Tbilisi on February 9-10, 2009. View Georgia’s Progress Report on implementation of the ENP Action Plan in 2008 with updates on democracy and rule of law, cooperation on foreign and security policy, economic and social reforms, trade-related issues, market and regulatory reform, and much more. Also, view the Presentation of the Minister of Economic Development at the Conference which presents useful statistics and economic indicators. See participants list. 16-02-2009 Trade Deficit Widens to USD 4.5 bln in 2008 Georgia’s negative trade balance widened to USD 4.56 billion, against USD 3.98 billion in 2007, according to the Statistics Department. It said that Georgia’s total foreign trade turnover rose 17.2% amounting to USD 7.55 billion in 2008, with export reaching USD 1.49 billion – 21.5% more than in 2007 and import – USD 6.05 billion, a 16.2% increase over 2007. Turkey is the Georgia’s major trading partner with the trading volume amounting to USD 1.2 billion, up by 33.7% over 2007. Trading volume with Turkey accounted for 15.9% (rose by 1.9%) of the total foreign trade turnover. 15-12-2008 EPF Newsletter prepared after the third policy forum on EU Georgia Free Trade Agreement Under the EU-Georgia Free Trade Agreement: Support for Stakeholders’ Dialogue project Eurasia Partnership Foundation (EPF) organized its third public policy forum about the pending free trade agreement (FTA) with the European Union (EU). The goal of the forum was to assess the implications of the suspension of the Georgian Law on Food Safety and Control on the establishment of a free trade area with the EU and promote dialogue among stakeholders. The process engaged key stakeholders in evaluating the costs and benefits of the suspended law and influencing the formulation of a clear position for the Georgian government during negotiations on a deep and comprehensive FTA with the EU. The Georgian Law on Food Safety and Control was adopted on December 29, 2005. The law was subsequently amended twice: on December 29, 2006 and again on June 29, 2007. These amendments resulted in the suspension of the law’s core articles, which will gradually be reinstated from 2010 until 2012.12-12-2008 AmCham members meet Prime Minister and Minister of Finance AmCham members had an exclusive meeting with Prime Minister Grigol Mgaloblishvili and Finance Minister Nika Gilauri to discuss the government’s position on the global financial crisis and the amendments to the tax and customs code. Prime Minister Mgaloblishvili promised members that the government is doing everything possible to make sure the business climate stays competitive and attractive – including the reduction of taxes and a special commission to oversee the allocation of aid money. Click here to view presentation of the upcoming changes to tax code - outline of major changes 24-10-2008 Georgian IT Innovation conference and award ceremony 2008 The State Commission of E-Governance Development of Georgia is organizing the first annual Information Technology Conference "Building e-Society for socio-economic development" this October 29-30 in Tbilisi. 23-10-2008 The Donors' Conference for Georgia was held in Brussels on 22 October 2008 The European Commission and the World Bank co-chaired, and the French and the Czech Presidencies of the Council co-hosted a Donors’ Conference for Georgia on 22 October 2008 in Brussels. 20-10-2008 European Neighbourhood Policy AND GEORGIA From the publishers The monthly bulletin “European Neighbourhood Policy and Georgia” is a joint initiative of Open Society - Georgia Foundation, Eurasia Partnership Foundation and a group of NGOs. The main objective of the bulletin is to provide latest and significant information about the development of Europe-Georgia relations and the preparation of the Georgian Action Plan in the framework of the ENP. The bulletin is supposed to help Georgian NGOs monitor the implementation of the Georgian Action Plan and make their voice heard about the development of Europe-Georgia relations. The editorial board of the bulletin welcomes contributions from the readers about the development of the Europe-Georgia cooperation and their requests for publishing specific research papers or political documents in the bulletin. Georgian NGOs are welcome to publish results of their research and analysis of the Europe-Georgia relations and the implementation of the Action Plan. Please click here for the full bulletin. 20-10-2008 A new Client Alert concerning recent developments pertaining to the global credit crisis THE GLOBAL CREDIT CRISIS AND THE GLOBAL RESPONSE Coordinated International Response: European Developments Since the date of our last update, the United States, as well as a multitude of nations in Europe and Asia, has acted to implement programs designed to restore confidence in the banking systems of the global economy. The Group of 7 and the Group of 20, along with senior representatives of key countries in the European Union, have met to establish a coordinated effort by the principal central banks and governments in the affected economies to bolster the solvency of their significant constituent international banks. The programs and proposals, in the main, have three common elements: (1) investment in the affected banks; (2) support and facilitation of inter-bank lending; and (3) guarantee of banking deposits. 17-10-2008 Policy Briefing “Georgia on the EU’s Mind” with Salomé Zourabichvili took place at EPC, Brussels On October 14, 2008 the Policy Briefing "Georgia on the EU’s mind” with Salomé Zourabichvili, former Georgian Foreign Minister was held in Brussels. The event was organized by the European Policy Centre (EPC) and was chaired by Antonio Missiroli, Director of Studies at the EPC. 10-09-2008 Doing Business 2009 - World Bank report Doing Business 2009 is the sixth in a series of annual reports comparing business regulations in 181 countries. This year’s report covers 10 indicator sets in 181 economies. The main goal of the report is to provide an objective basis for understanding and improving the regulatory environment for business. click here to open the summary of the report or here if you want to see Georgia's ranking. 03-09-2008 U.S. to announce $1 billion aid for Georgia: official / Washington Post, September 3, 2008 WASHINGTON (Reuters) - The Bush administration will announce on Wednesday a package of roughly $1 billion dollars in aid to help rebuild war-torn U.S. ally Georgia, which battled Russia over a separatist enclave last month, an administration official said. http://www.washingtonpost.com/wp-dyn/content/article/2008/09/03/AR2008090300170.html 20-08-2008 AmCham Georgia Statement regarding Russia-Georgia conflict Please click here to download the statement the American Chamber of Commerce in Georgia made in light of recent events in Georgia. 21-06-2008 New GMF policy brief examines Abkhazia-Georgia conflict, defining moment for European security strategy During the last several years the Georgia-Abkhazia region has seen a deterioration in the situation, a growing tension level in the conflict zone, and an increased danger of renewed conflict. At stake is not only Abkhazia or Georgia, but the rules of the game in European security. There are several reasons for this state of affairs and lack of meaningful progress. The new German Marshall Fund of the Unites States (GMF) policy brief Internationalizing the Georgia-Abkhazia Conflict Resolution Process: Why a greater European Role is Needed attempts to lay out reasons why the current approach has failed, why a new beginning is both needed and possible, and elements of a new strategy. 11-06-2008 European Parliament resolution of 5 June 2008 on the situation in Georgia The European Parliament, – having regard to its previous resolutions on Georgia, in particular those of 26 October 2006(1) and 29 November 2007(2) , – having regard to its resolution of 15 November 2007 on strengthening the European Neighbourhood Policy (ENP)(3) , and its resolutions of 17 January 2008 on a more effective EU policy for South Caucasus(4) ,and on a Black Sea Regional Policy Approach(5) , 12-05-2008 Volume of Israelite Investments Reaches USD 1 Billion by 2010 The We Build Together two-day business forum dedicated to the Independence Day of Israel is being held in Tbilisi with the participation of the 100-man delegation of Israelite businessmen. The business forum key topics are: real estate, tourism, aviation, commerce, industry, agribusiness, communications and high technologies. 05-05-2008 Norway Confers GSP Beneficiary Status to Georgia Norway has conferred the GSP preferential trade regime to Georgia, the Commerce Policy and Law International Center of Georgia reports. 24-04-2008 Sony Corporation Supplies South Caucasus and Central Asia States from Poti Storehouse The Sony Corporation is going to supply the South Caucasus and Central Asia states with its products from the Poti Storehouse. 08-04-2008 Number of Foreign Visitors Increases by 34% in 2 Months The number of visitors to Georgia increased by 34% in January-February of 2008 as compared with the analogical period of 2007, that is, the number increased up to 157 000 visitors from 117 000 ones. 01-04-2008 Kala Capital Starts Business Activities in Power Systems, Banking and Real Estate Sectors The Progress Bank JSC, oil-extraction business and the construction of power plants and Arsenal multi-functional complex represent the first projects of the Kala Capital Company owned by Georgian soccer Kakha Kaladze. Zurab Noghaideli, Former Prime Minister of Georgia and Head of the Kala Capital Watchdog Committee, stated at the March 31 presentation that the company would be financed in both foreign and domestic capitals and thousands of job places would be created. 31-03-2008 Zurab Noghaideli and Kakhi Kaladze Make Statement on Starting Joint Business on March 31 Former Prime Minister of Georgia Zurab Noghaideli and Georgian soccer Kakhi Kaladze will make a statement on starting their joint business project - Kala Capital. 28-03-2008 Fitch Ratings Affirms Georgia's Long-term Local and Foreign Currency Issuer Default ratings at 'BB-' Fitch Ratings, an international rating company, has affirmed Georgia's Long-term local and foreign currency Issuer Default ratings (IDRs) at 'BB-' (BB minus) with Stable Outlooks, reports Galt & Taggart Securities. 27-03-2008 TBC Bank Attracts USD 100 Million from International Markets of Capital The TBC Bank JSC has attracted USD 100 millions from international Markets of Capital. The TBC Bank informs that the mentioned resource was mobilized from several international finance institutes via the Merrill Lynch mediation.21-03-2008 London House Representation Opens in Tbilisi London House, a British Company, has opened a representation in Tbilisi. London House offers wide range of goods to consumers. The company manufactures and sells construction and facing materials, furniture, lightening facilities etc. 20-03-2008 EBRD Carries Out Research of Money Transfers Market of CIS States The European Reconstruction and Development Bank has explored the money transfers market of the CIS states. The EBRD representative Sergio Benedixen states that, according to the research results in Georgia, 9% of the population systematically consumes various systems of electronic payment (Western Union, MoenyGram, Anelik and so on).13-03-2008 Rompetrol Invests USD 3m in Georgia in 2007 Rompetrol, an oil company, invested USD 3m in Georgia in 2007, Valentine Yan, Public Relations Manager, told GBC. 12-03-2008 Turkish Businessmen Introduced to Investment Environment of Ajara Intourist Palace Hotel in Batumi (the region of Ajara) has hosted a business forum to introduce Turkish businessmen to Georgia's investment environment... 10-03-2008 Japanese Travel Agencies Interested in Georgia Japanese travel agencies have expressed interest in sending groups of tourists to Georgia. A delegation of the tourism department has recently visited Japan and held a presentation in the local tourism association. Following the presentation, JTB, a major Japanese travel agency, expressed interest in Georgia. 07-03-2008 BIC Philippine Company Starts Constructing Container Terminal in Batumi The BCI Philippine company will start constructing a container terminal in Batumi in April. 07-03-2008 Dhabi Group Finances 80% of Construction Expenditures for Kempinsky Palace The Dhabi Group and the Capital Wostok have signed a treaty under which the Dhabi Group will finance 80% of the total cost of the Kempinski palace construction. 05-03-2008 Wine export Index in January-February of 2008 Totals 1,204 Million Bottles In January-February 1, 204 million bottles of wine were exported from Georgia, Giorgi Samniashvili, Deputy Head of the Samtrest Vine and Wine Department, told the GBC. 03-03-2008 TBC-Bank Taking Part in Czech-Asian Business Forum TBC Bank is taking part in the 2nd Czech-Asian Business Forum, Jemal Inaishvili, the president of the Georgian Chamber of Commerce and Industry, told GBC. 03-03-2008 NBG Publishes Commercial Bank Performance Analysis As of March 1, 2008, total net assets (in current prices) of commercial banks increased 6.7% (by 480.2m GEL) to 7688.4 m GEL compared to data at the start of the year. Since the start of the year share capital of the banking sector has increased 14.5% (by 212.7 GEL) to 1683.7 m GEL, which is 21.9% of total net assets of commercial banks (compared to 20.4% at the start of the year). 04-05-2007 Agribusiness Trade and Investment Mission Returning to Georgia The United States Department of Agriculture (USDA) is sponsoring a Trade and Investment Mission (TIM) to Georgia. Approximately fifteen American companies will visit Georgia over five days from 11-15 June, 2007. 23-04-2007 Plain Language Customs Guide now widely available The American Chamber of Georgia (AmCham Georgia), together with the Small and Medium Enterprise (SME) Support project, is proud to present Georgian version of the Plain Language Customs handbook. 12-03-2007 Kazakhstan set to increase investment in Georgia During President Mikheil Saakashvili's official visit to Kazakhstan, it became clear that Kazakh investments would continue in Georgia. 12-03-2007 Poland, Ukraine call for 'South-East Energy Corridor' summit Presidents of Poland and Ukraine, Lech Kaczynski and Viktor Yushchenko, called for an energy summit in May with the participation of Azerbaijan, Kazakhstan and Georgia. 12-03-2007 IMF Executive Board approves USD 21.1 million disbursement The Executive Board of the International Monetary Fund (IMF) completed the fifth review of Georgia's performance under the three-year programme supported by the Poverty Reduction and Growth Facility (PRGF) arrangement. 02-03-2007 Commercial News Update for Georgia Compiled by: Kartlos Gviniashvili, BISNIS Representative, U.S. Embassy, Tbilisi 16-02-2007 MCG signs first agribusiness development grants Millennium Challenge Georgia (MCG) has signed agreements on the first eight agribusiness projects under its Agribusiness Development Activity (ADA) on Tuesday. MCG says the first eight projects will create ninety-four new jobs, improve technologies and help create improved market access. 16-02-2007 Georgia's tourist sector gears up Notwithstanding Forbes magazine's scepticism, Georgia's tourist sector is looking forward to boom times ahead. Hotels are springing up everywhere, and almost every global chain has already invested-Georgia has massive tourism potential. 16-02-2007 Surge in trade underscores Georgian-Armenian cooperation Data from the last three quarters of 2006 show that trade turnover between Georgia and Armenia exceeded USD 90 million, shooting up from the same period in 2005, the Armenian ambassador told newspaper Svobodnaya Gruzia. 09-02-2007 New railway is geopolitical revolution - Saakashvili "A geopolitical revolution" and a "new silk road" is how President Mikheil Saakashvili described the Baku-Tbilisi-Kars railway project at the signing ceremony with visiting Turkish Prime Minister Recep Tayyip Erdogan and Azerbaijani President Ilham Aliyev on February 7. The three leaders also signed the 'Tbilisi declaration on a common vision for mutual cooperation'. 09-02-2007 International Bank of Azerbaijan launches operations in Georgia An affiliated bank of the partially state-owned International Bank of Azerbaijan has officially launched operations in Georgia after it was granted a license by the National Bank of Georgia on February 7. 09-02-2007 Azerbaijan, Georgia and Turkey to construct electricity transmission line Azerbaijani, Georgian and Turkish leaders agreed on February 7 in Tbilisi to launch the construction of an electricity transmission line that will link Azerbaijan with Turkey via Georgia. 09-02-2007 Forbes reconsiders: Georgia is safe for tourists Georgia is no longer on Forbes Magazine's list of dangerous counties for tourists. The country was added to the list last year, along with neighbouring Russia, but this year Georgia has dropped a level. 09-02-2007 Five mega-hospitals planned for Tbilisi In three years time Tbilisi will have multifunctional, state-of-the-art hospital 'campuses' in five major district centres. In contrast to the current scattered distribution of specialist clinics, each new hospital will be a complex of facilities with a unified database, according to the Ministry of Labour, Health and Social Affairs. This page was last updated on: September, 2010 |
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Information on this webiste is subject to change without prior notice. Although every reasonable effort is made to present current and accurate information, the American Chamber of Commerce in Georgia makes no guarantees of any kind and reccomends professional advice be sought before making any business or investment decisions. |
Nick Gvinadze, formerly a partner with DLA Piper Gvinadze & Partners LP, has re-launched his legal practice separately as Gvinadze & Partners LLC. This leading Georgian business law firm will aim to support further growth and investment in Georgia by providing global quality legal services, at local cost.
