Georgian New System Fitness & Spa to Maintain Recreational Complexes

Georgian New System Fitness & Spa to Maintain Recreational Complexes

Fitness & Spa is a maintainer system for swimming pools, fitness clubs, and Spa objects, which is chosen to fit individual requirements of every fitness club. This is the process, which simplifies ways for consumers and moves them to technologically more reliable system. It is Georgian product, which team was implementing for 4 years. At […]

GITA to Spend GEL 30 Million on Developing Startups in 2020

GITA to Spend GEL 30 Million on Developing Startups in 2020

GITA will spend GEL 30 million on developing startups in 2020. According to Avtandil Kasradze, head of the Technology and Innovation Agency, in Business Morning, he expects to spend GEL 30 million in 2020 on developing the GITA startup ecosystem. He said that in the last six years this sum totaled GEL 39.5 million, though […]

My Freelance – A New Georgian Startup

My Freelance – A New Georgian Startup

My Freelance is a new startup created by Georgians. “My Freelance is a platform, which aims to connect local freelancers with the companies, which they are seeking for. We are helping freelancers on a Georgian market to simplify communication with different types of companies. We provide companies with different services: branding, social media management, graphic […]

Largest Business Accelerator 500 Startups Enter to Georgia Supported by Bank of Georgia

Largest Business Accelerator 500 Startups Enter to Georgia Supported by Bank of Georgia

February 21, 2020 – With the support of the Bank of Georgia, the world’s top accelerator 500 Startups will enter Georgia. The relevant trilateral agreement has already been signed between the Agency for Innovation and Technology of Georgia, 500 Startups and Bank of Georgia. Cooperation between the Parties is an important support for Georgian startups […]

EBRD Allocated Additional Fund for Reconstruction of Enguri HPP

EBRD Allocated Additional Fund for Reconstruction of Enguri HPP

The European Bank for Reconstruction and Development (EBRD) is allocating €10 million for the reconstruction of Georgia’s Enguri Hydro Power Plant (HPP). The EBRD allocated €28 million in 2018 for the reconstruction of the power plant but then it was discovered that an additional €10 million was needed for the project, said Deputy Finance Minister […]

Export Volume hit Record-High Indicator in January – 10% Increase

Export Volume hit Record-High Indicator in January – 10% Increase

Export volume hit a record-high indicator in January 2020 with 262.6 MLN USD (i.e. 10% increase compared to the respective period of the past year). Export volumes have never been so high in January of any previous year before; Export as net of re-export (export of domestically produced commodities) constitutes to 67.4% of total export. […]

Tobacco Excise Budget Received 724 Million GEL

Tobacco Excise Budget Received 724 Million GEL

Vano Machavariani spoke about the taxation of tobacco and tobacco products in the Parliament within the Minister’s hours. The Minister noted that it would be impossible to have a fair business environment if the taxation of different businesses operating in one area would be different. He said that last year this legislative gap was rectified […]

EBRD and GCF to fund Renovation of Subway Cars by EUR 60 Million

EBRD and GCF to fund Renovation of Subway Cars by EUR 60 Million

EBRD reviewed the concept of Tbilisi Metro Project. According to the document published on EBRD’s official website, the provision of a sovereign loan is up to EUR 60 million to Georgia, expected to be co-financed by the EBRD and the Green Climate Fund (the “GCF”). The loan will be on-lent to the city of Tbilisi […]

The Service-oriented Economy is Unable to Attain Inclusive Growth – Experts about the Economy Minister’s Statement

The Service-oriented Economy is Unable to Attain Inclusive Growth – Experts about the Economy Minister’s Statement

The government of Georgia will enhance economic stability and maintain inclusive economic growth, thanks to an appropriate fiscal policy and core structural reforms, Economy Minister Natia Turnava noted at a meeting with members of the International Monetary Fund (IMF) mission. For many years, the authorities have kept assuring us that inclusive economic growth is a […]