Press & Information

Gudauri Armed and Ready for Ski Season
10 November 2014
As the temperatures start to fall, the popular mountain resort of Gudauri is fully prepared for the opening of the ski season. Cableways have been repaired, skiing tracks cleared of stones and, most importantly, a snowmaking system was installed, which can extend the ski season for an extra one and a half months. This season is scheduled to open on December 13. Last year many tourists were dissatisfied with the poor weather conditions and lack of snow in the mountains. To combat against these climactic obstacles...
Untouched Beauty of Javakheti Protected Areas Attracts Tourists
06 November 2014
Whether you prefer steep mountains or grassy steppes, wide meadows or thick forests, Georgia is the country you should put on your traveler’s bucket list. The country is blessed with diverse natural resources that spread from semi-tropical beaches on the Black Sea coast to the snow-capped Caucasus Mountains. There are numerous regions worth visiting in Georgia...
DEG Issues USD 35 mln for Bank of Georgia, Ready to Finance any Georgian Business
27 October 2014
The FINANCIAL -- German Investment and Development Corporation (DEG) has issued USD 35 million for Bank of Georgia, to extend financing of the SME sector in the country. The loan will boost the total credit portfolio of the SME sector by 10-15%. DEG gives a positive estimation of the country’s economic conditions and has expressed willingness to finance other Georgian businesses. “Bank of Georgia has issued over GEL 200 million for the SME sector this year. The portfolio amounted to over GEL 550 million...
The Economic Potential of Georgian Wine
06 October 2014
The FINANCIAL -- Winemaking is one of the oldest Georgian traditions that have survived to this day. Archaeologists have proved that the history of Georgian wine production reaches back at into the past least 8000 years. Arguably, this makes Georgia the earliest place on earth where wine was produced. And the tradition is alive – today there are not just big wine firms...
თბილისი მერი დავით ნარმანია საქართველო-ისრაელის ბიზნეს პალატის გეგმებს გაეცნო
19 September 2014
დღეს თბილისის მერმა დავით ნარმანიამ დედაქალაქის ცენტრში ებრაული ინვესტიციით მშენებარე `რიქსოსის~ სასტუმრო დაათვალიერა. მას მასპინძლობა საქართველო-ისრაელის ბიზნეს პალატის პრეზიდენტმა იციკ მოშემ გაუწია. მერთან ერთად ობიექტს ეწვივნენ ქართულ-ებრაული 26-საუკუნოვანი მეგობრობის საიუბილეო კომისიის თანათავმჯდომარე ჯამლეტ ხუხაშვილი...
Georgian Hotel Market Growing but Lacking Foreign Investment
01 September 2014
The FINANCIAL -- The average daily rate of Georgian hotels increased by 7.5% in July 2014 compared with the same month of 2013, STR Global, global data tracker of the hotel industry, told The FINANCIAL. The daily rate of Georgian hotels totalled GEL 247.09 in July 2014 while the rate was GEL 229.14 in the prior-year period. During the past 5 years the record number of FDI (USD 181.9 million) in the HoReCa sector was mobilized in 2008...
Georgia Needs to Empower Women in Business for a Better Economy, Say Researchers
01 September 2014
The FINANCIAL -- Georgia needs to empower more women in business as women’s economic contributions are vital for developing countries like Georgia, say professors from Tbilisi State University and Rotterdam School of Management. Economies in Eastern Europe (37%) and Southeast Asia (35%) lead the way in terms of women in leadership...
World Bank Report: Digital Payments Vital To Economic Growth
30 August 2014
The FINANCIAL -- WASHINGTON – Integrating digital payments into the economies of emerging and developing nations addresses crucial issues of broad economic growth and individual financial empowerment, according to a new report by the World Bank Development Research Group. The report examines...
Business Forum 2014, 20-21 October
14 August 2014
On October 20-21 of the current year Israeli-Georgia Chamber of Business with business organizations of Georgia and Israel will conduct the business forum, which will be attended by representatives of diverse fields of business from the both countries. მიმდინარე წლის 20-21 ოქტომბერს საქართველო-ისრაელის ბიზნეს პალატა საქართველოსა და ისრაელის ბიზნეს-ორგანიზაციებთან ერთად ჩაატარებს ბიზნეს ფორუმს...
“We have 16% growth in export in the first five months. The export of local, especially agricultural, products is growing.”
09 August 2014
On 18 July 2014, at the extra plenary session of the Parliament, Minister of Economy and Sustainable Development of Georgia, Giorgi Kvirikashvili, stated that according to the data of the first five months, there was a 16% growth in export. The Minister also pointed out that the share of agricultural products in export had increased. FactCheck took interest in the Minister’s statement and verified its accuracy. According to the National Office of Statistics of Georgia (GeoStat)...