Issue #594

30.12.11 - 12.01.12


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Goodwill opens in Saburtalo District

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Author:  By Lika Moshiashvili

Goodwill, the leading hypermarket chain in Georgia opened its second hypermarket on Kavtaradze Street in the Saburtalo district of Tbilisi on December 27.

The new hypermarket, spanning 9,000 square meters, offers about nearly 30,000 varieties of Georgian and imported products, including bread produced by Goodwill as well as sausages, ready-made foods, confectioneries and fish.

According to Mikheil Charkviani, the General Director of Goodwill, approximately 10 million laris has been invested in this project.

The new hypermarket offers a cafй, service centers, a drug store, brand shops and a parking lot for 300 cars. In the near future, clothing shops (OVS, COLLEZIONE), LOTTO, as well as Go Electronics, perfume, the chain Lutecia, Zarapxana jewelry, TBC Bank, Geocell and other companies will join the new hypermarket.

“Goodwill is one of the most successful companies in the country,” said Tbilisi’s Mayor Gigi Ugulava, at the opening ceremony. “There are 300 people employed in this new hypermarket and several of them are from our employment base.” According to the company’s management, all the employees have undergone several week-long training courses to raise their qualifications.

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Top 10 economic and business events in 2011

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Author:  By Tamar Khurtsia

Government develops Anaklia project

Anaklia, the new resort on the coast of the Black Sea officially opened in a festive atmosphere this past August. Located in the Samegrelo-ZemoSvaneti region where the Enguri River runs into the Black Sea near the administrative border of Abkhazia, Anaklia promises to set a new standard for holiday vacations with its perfect beaches, clean water, sunny weather and the unique hospitality of the local population.

Alberto Domingo Cabo, a Spanish architect at the Valencia-based CMD Ingenieros, an engineering and architecture firm, was contracted by Georgian authorities to design Anaklia’s landscape, as well as a project that envisages a coastal park and promenade with an estimated worth of EUR 16.5 million.

Bollywood comes to Georgia

Georgia became one of the prime locations for the filming of two Bollywood blockbuster films. Nearly six-months of negotiations between the Georgian government and members of the Indian film industry have been successfully concluded.

In November of 2011, Bollywood started shooting its first film in Georgia, generating $1 million into the Georgian economy. The Indian thriller Billa II was shot in three locations in Georgia: Tbilisi, Borjomi and Rustavi. The film was produced by Wide Angel Creations in association with the Hinduja Group. The shooting of another Indian film Double Trouble kicks off in 2012.

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Celebrate New Year’s Eve in style

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They say how you spend your New Year’s Eve indicates how you will spend the rest of the year - so why not celebrate in a different country and get 2012 off to a flying start.

bmi, British Midland International, has selected its top things to do and see this New Year:


Each year London plays host to one of the biggest fireworks displays in the world. More than 250,000 people watch from the banks of the River Thames as the London Mayor’s midnight fireworks display takes place.

Throughout the capital, pubs, clubs and restaurants host various events as people gather to celebrate the New Year.

London’s New Year’s Day Parade 2012, is the first official event in a year of celebrations to mark Her Majesty Queen Elizabeth II’s Diamond Jubilee. More than 10,000 performers representing 20 countries world-wide will assemble for the 2012 Parade.

Remember to leave space in your suitcase as London’s Oxford Street is the place to hit the sales that start in the UK from 26 December 2011. The Westfield London is also worth a visit – it is Europe’s largest shopping centre and bmi passengers have the added benefit of receiving a VIP shopping pass. The offer is valid on all bookings made with bmi into London Heathrow until 31 August 2012, and entitles you to various discounts in shops and restaurants in the shopping centre, which has 275 luxury, premium and high street retailers, and nearly 50 places to eat. For more information on the offer just visit the bmi website –

bmi, British Midland International, flies offers direct flights from Tbilisi to London Heathrow. Fares are available from €352 return including taxes. To book visit

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Money transfers on the rise

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In November 2011, the volume of money transfers from abroad reached $91.1 million (or 151 million lari), which is an increase of 8.7 % compared to the previous year.

According to National Bank of Georgia, 90.8 % of total money transfers from abroad fall on those 10 countries (Russia, Greece, Italy, USA, Ukraine, Spain, Turkey, India, Israel, Germany) from which the volume of such transfers exceeded $1 million in November, 2011. In November 2010, the share of these 10 countries totaled 90.2 % of the total volume of money transfers.

In November of 2011, $7.5 million (or 12.5 million lari) were transferred from Georgia which is a decline of 6% compared to November 2010.

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Foreign trade jumps by 37%

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Georgian foreign trade turnover in January through November of 2011 amounted to $8.259 million, which is 37% higher, compared to the same data of the previous year, according to Geostat.

In the same period, export increased by 40% and import by 36%, while export reached $1.936 million and import totaled $ 6.323 million.

With $ 406.4 million (21% of total export) motor cars are the main commodity in Georgian export. Other important commodities are ferroalloys (11.8% of total export), mineral or chemical fertilizers, nitrogenous (6.3%), ferrous waste and scrap (5.8%), nuts, fresh or dried (5.4%), gold (5.3%), copper ores and concentrates (4.1%), indentured ethyl alcohol, spirits, liqueurs and other spirituous beverages (3%), bars and rods of iron (3%), wines of fresh grapes (2.5%) etc.

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GDP grows by 7.5% in Q3

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Georgia’s Gross Domestic Product (GDP) equaled 7.5 % in Q3 of 2011, according to the adjusted data of Geostat, the National Statistics Office of Georgia. In this period, GDP per capita at current prices amounted to 1 387.9 lari. The January-September real GDP growth was 6.2% year-on-year, Geostat said.

The largest share in sectoral structure of GDP is held by Industry (18.3%) followed by trade services (17.2%), followed by transport and communication services with 11%, the share of government spending was 12.2%, agriculture, forestry and fishing - 9.3%, construction -7.3%, while health and social work services was 6%.

Significant real growth was recorded in the following sectors: financial intermediation -24.9%, manufacturing -16.6%, other community, social and personal services were 11.3%, hotels and restaurants -10.9%, trade -9.2%, processing of products by households - 8.5% and communication - 8.2%.

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Tourism: The year in review

Government calls 2011 a success

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Author:  By Tamar Khurtsia

Looking back at the challenges in 2011, the government states that the key concern has been to advance the development of tourism infrastructure and offer visitors new products. These attempts, according to the Georgian National Tourism Agency (GNTA), have encouraged the growth and diversification of international tourists.

“In 2011, approximately 2.8 million international travelers came to Georgia, up 39% from 2010. [This] is a good sign for increasing the amount tourists in the coming years,” said Maia Sidamonidze, the Head of the GNTA, at a conference this month, as she summed up Georgia’s tourism achievements of 2011.

The event, held at Holiday Inn Hotel Tbilisi was also attended by high officials from the government including the Prime Minister of Georgia, Nika Gilauri and the Minister of Economy and Sustainable Development of Georgia, Vera Kobalia.

Assessing the results of the year, Sidamonidze noted that the figures, as well as marketing activities implemented by GNTA towards promoting the tourism potential of Georgia give the agency the right to call 2011 “a successful year.”

While speaking of the new projects and services offered by the GNTA, Sidamonidze told the guests about the new tourist products including the Meetings Incentives Conferences and Events (MICE), extreme, speleo, mountainous, alpinist, bike and wine tourism packages which are possible to experience in different regions of Georgia.

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From Radiokalaki’s daily Business Talk Show

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Teona Baghdavadze, Head of Beeline’s Public Relations Department

Beeline new director Sergey Zakuraev has recently taken on a very interesting new career promotion. Before coming to Georgia, Zakuraev used to work in Uzbekistan and Vietnam. He is responsible for launching the Beeline network in Vietnam. It proved to be successful and is currently one of the largest business directions there.

From there, Zakuraev brings a wealth of experience, interesting stories and a new vision of business to Georgia. There are changes in strategic direction as well as staff.

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