Sarke: newsletter of 19 May 2009

TODAY:

economics

FDI REDUCED BY 76.8% IN Q1

Georgian Statistics Department reports that volume of foreign direct investments made up $124.6 million in the 1st quarter of 2009, which is less by 76.8% compared with the same period of 2008. In the 1st quarter of 2009, UAE was the largest investor.

NEGATIVE RATE OF FDI WAS FIXED WITH 20 COUNTRIES IN Q1

According to the preliminary data of Georgian Statistics Department, negative rate of foreign direct investments was fixed with 20 countries in the 1st quarter of 2009. Negative rate made up $62.9 million in total.

PETROL “REGULAR” AND DIESEL L-62 – THE MOST POPULAR TYPES OF FUEL IN GEORGIA

Vano Mtvralashvili, chairman of Oil-Products Producers, Importers and Consumers Union, informs that the most popular petrol in Georgia is Regular, which accounts for 82% in total petrol import. As for diesel fuel, the most used one is L-62 (78.7% of total diesel import).

ACTUAL TOPIC: COMMUNICATIONS SECTOR STILL INCREASES

Despite general economic downturn, quite a sound growth is fixed in communications sector. Gela Butbaia, head of Strategic Development and Competition Department of Georgian National Communication Commission briefly reviews the situation in the sector.

MEASURES AGAINST SWINE FLUE TO BE FUNDED WITH 1.35M LARI

According to the governmental regulation, 1.35 million lari should be allotted from reserve fund of the government for measures against swine flue (virus A1N1). Finance Ministry will allot the funds to Labor, Health and Social Protection Ministry.

business

THREE BANKS TO SERVE “CHEAP CREDIT” STATE PROGRAM

State program “Cheap Credit” will be served by 3 banks (Sakhalkho Banki (People’s Bank), VTB Bank Georgia and Basisbank). The mentioned banks have been selected today among 6 financial institutions (banks and micro-finance organizations), taken part in competition announced by Economic Development Ministry.

ZURAB GURGENIDZE, MAGTI DEPUTY DIRECTOR GENERAL: “METROMEDIA’S POSSIBLE BANKRUPTCY WILL NOT IMPACT ON MAGTI”

Zurab Gurgenidze, deputy director general of mobile communications operator Magti, is sure that possible bankruptcy of Metromedia International Group (MIG) will not impact on Magti activity. MIG filed for bankruptcy to the US court yesterday.

ALTA TO CREATE AND MAINTAIN BANKING SYSTEM OF NBG

Local IT company Alta will create banking system for National Bank of Georgia (NBG). As NBG has told Sarke, Alta was the only participant of the tender on the mentioned service, which was held on June 9.

IC GROUP TO INSURE BORDER POLICE OFFICERS

State Procurements Agency announces that IC Group will provide insurance service to officers of Georgian Interior Ministry’s Border Police. The company won the tender, which was announced on January 29.

BUILDING-AND-ASSEMBLY WORKS TO BE IMPLEMENTED IN FINANCIAL MINISTRY’S REGIONAL CENTERS

Finance Ministry has announced tender on building-and-assembly works. Tender, divided in 8 lots, will take place in the Ministry on July 9.

LLC KIRKITADZE AND CO. TO PROVIDE DEMARCATION OF LANDS AND REGISTRATION SERVICE TO GEORGIAN RAILWAY

As LLC Georgian Railway told Sarke, LLC Kirkitadze and Co. will provide demarcation of lands and registration service to the company. The mentioned company was selected through tender, held on May 27.

LLC LAZI AND LLC PORT METAL SERVICE PROPERTY FAILED TO BE SOLD

Poti Regional Center of Finance Ministry’s Revenue Service (Tax Inspection) has informed Sarke about failed auctions on seized property of LLC Lazi and LLC Port Metal Service. The auctions, scheduled to be held yesterday, were not applied, Inspection explained.

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