Tbilisi. Society and Banks has released an overview of banking sector. According to the organization, in 2014 commercial banks gained a net profit of 475 million GEL, exceeding the 2013 data by 22%. Financial sector is the most developed and growing sector in Georgia. Commercial banks are distinguished in this regard, financial indices of which are increasing annually. For the full text... Source: sab.ge

Tbilisi. The Institute for the Development of Freedom of Information has requested information on negotiations with potential investors and results in 2014 from the Georgian National Investment Agency. According to the documents the Agency has provided, "the Agency's staff hold 70 meetings a month on average with representatives of an investor company, including at business forums, as part of visits, etc. ... As for the volume of investments coming to Georgia as a result of these negotiations, the Agency claims that investors' decisions take certain period of time and therefore the results will be reflected in 2015, while companies, with whom the Agency had negotiated in 2013, have invested in Georgia in 2014. Foreign Direct Investments invested in 2014 through the Agency's direct participation amounted to approximately 91 650 000 USD", the publication states. For the full text... Source: opendata.ge

Tbilisi. The Government of Georgia is implementing the project: "Enterprise Georgia". The Ministries of Economy and Sustainable Development and Agriculture of Georgia are coordinating the program. "Transparency International – Georgia" has visited in October 2014 up to 25 enterprises in the regions of Adjara, Imereti and Samegrelo-Zemo Svaneti. The organization's representatives have inspected enterprises on the ground and released a publication on inspection results. For the full text... Source: transparency.ge  

Tbilisi. The Heinrich Boll Foundation has posted on its web page the publication: "Asymmetry of energy transit and security in South Caucasus: the path between Russia and the EU". ''In recent years, the South Caucasus energy transit corridor has occupied a significant place within the formation of the European Union’s energy security system. It starts with Azerbaijan supplying the EU member states with Caspian Sea oil, using both offshore and onshore infrastructure. New gas pipelines are being designed and brought into use. Consequently, the issue of security and sustainability of South Caucasus’s transit potential is on the agenda. This can be secured through active cooperation with the EU, which is the main consumer of the Caspian energy resources''.  for the full text... Source: ge.boell.org

Kakheti. CSO "Woman and Business" is assisting former inmate women in realization of business ideas by funding business projects of women. The organization's representatives have organized a meeting in Telavi over these issues, aimed at transforming the ideas into a project. Expert of "Woman and Business", Eka Gegeshidze: "Former inmate women were provided with consultations they will take into account when processing the idea plans. Plans will be formed into projects, which will be transferred for consideration to a special commission. The EU-funded project is being implemented for 2 years, and strives to re-socialize and economically empower former inmate women in various regions of Georgia. As for the grant amount, 1000 EUROs are allocated for each individual, while overall it is planned to fund 60 business ideas. At the moment, grants are issued to 11 beneficiaries", - Eka Gegeshidze said.

Tbilisi. CSO "Young Barristers" appeals to the Prosecutor's Office of Georgia to speed up investigation on the case of JSC "Intellectbank". Further, the organization urges the Parliament of Georgia "to launch impeachment for removing the President of the National Bank of Georgia, Giorgi Kadagidze, from office, because individual decisions made by Giorgi Kadagidze on commercial banks since 2006 include signs of criminal offences". For the full text... Source: barristers.ge

Tbilisi. Transparency International - Georgia has released a publication: "Competition Policy: Postal Service Market in Georgia". To assess the efficiency of the country's competition policy, "Transparency International - Georgia" periodically probes into large business sectors, in which limited competition may inflict serious damage on the country's economy. This time the organization has studied the postal service market. For the full text... Source: transparency.ge

Tbilisi. As part of the civil activism platform, the Human Rights Education and Monitoring Center has posted Soso Chauchidze's video-lecture – Capitalism Political Economy. The lecture (geo)...     Source: the Center's web page in the social network.

Tbilisi. CSO "Jumpstart Georgia" has released GEL devaluation calculator. It calculates any person's property from GEL into USD by using two different rates (1.76 and 2.08). Afterwards it calculates a difference to demonstrate how your property has devaluated in USD over last 3 months. For the full text. Source: Jumpstart Georgia.

Tbilisi. CSO "Society and Banks” has released a statement on increased refinancing rate. "... As in recent months we are witnessing harsh devaluation of national currency and negative economic processes developing in the country, the issue of increasing the monetary policy rate has been raised. ... In order to stabilize the national currency rate temporarily, we believe that at this stage, increasing the refinancing rate is the most optimal option among the fiscal-crediting policy tools of the National Bank”, the statement says. For the full text (geo)... Source: sab.ge

Tbilisi. Open Society Georgia Foundation has prepared the study that highlights advantages and disadvantages of Georgia's accession to the European Energy Community and assesses possible risks and threats that may be associated with postponing the process of accession. The paper intends to present civil society's vision and standpoint regarding the on-going process. The policy paper is targeting  policy makers and the general public. Analysis of Georgia's accession to the European Energy Community Source: osgf.ge

Tbilisi. Transparency International – Georgia has released a blog – "Draft law on labor migration: new, unjustified pressure on business". "The Parliament of Georgia started debating the draft law on "Labor Migration" initiated by the Government. Declared goal of the draft law is to create effective means regulating labor migration in Georgia, which will facilitate the development of legal labor migration in the country. Yet, we find that the draft law is being adopted primarily thoughtlessly, without due consideration and situation analysis", the blog post says. For the full text. Source: transparency.ge

Tbilisi. Transparency International – Georgia has released the publication: "Challenges of Georgia's Investment Environment". "... Investments are one of the key foundations of economic development of any country. Even for a small developing state like Georgia, attracting foreign direct investments is of crucial importance, because domestic investments are usually deficient", the publication states. For the full text. Source: transparency.ge

Tbilisi. The Association of Young Economists of Georgia has released a statement on employing foreigners without permanent residence permit in Georgia. According to the organization, the Parliament of Georgia is examining the draft Law on "Labor Migration", pursuant to which employing foreigners without permanent residence permit in Georgia will be allowed only when personnel with relevant qualification cannot be identified at a local market. " ... An employer is obligated to register available vacancy request with the relevant administrative body of the Ministry of Labor, Health and Social Welfare of Georgia. ... If an administrative body fails to identify personnel adequate to submitted request within 7 business days, then an employer will be able to employ a foreign citizen without permanent residence permit in Georgia. In our opinion, the employers will observe this norm formally, and will not in reality give advantage to the local staff", the organization's statement says. For the full text (geo)... Source: the organization's web page in the social network.

Tbilisi. The "School of Liberalism" has hosted discussion - "Should market economy be more regulated or freer?". During the discussion, School members have presented arguments for and against more regulation or freedom of a market economy. Following the parties' positions, mentor - economist Roman Gotsiridze - has summarized and analyzed advanced arguments. The discussion (geo)... Source: the organization's page in the social network.

Tbilisi. JumpStart Georgia, in collaboration with Article 42 of the Constitution, has been researching the economics of gender and the role gender inequality plays in the work environment. In Georgia, men earn, on average, 39% more than women. To learn more about gender equality in the work place, to tanastsoroba.ge Visualization  Source: feradi.info  

Adjara. CSO "Society and Banks" has held a meeting with the local population on December 15 in the Batumi Civic Engagement Center, as part of the Consultation Center. The meeting aims to raise finance education among the population. The audience has received qualified advice on the banking products and procedures. After the question-and-answer meeting, the organization's banking products expert has provided individual consultations to those interested. The "Society and Banks" plans to hold similar meetings in various regions of Georgia.

Tbilisi. The "Society and Banks" has released a publication - "Economic Growth and Its Challenges". "Under the World Bank data for 2013, Georgia is ranked among the countries with low-medium incomes. In order for Georgia to move from the low-medium income group to a group of countries with higher incomes within a short period of time, a real high growth speed of its GDP is required", the publication states. For the full text Source: the organization's page in the social network.

Tbilisi. The Institute for the Development of Freedom of Information and the Bremen University are implementing a project aimed at activating Internet discussions over Georgia's socio-economic development strategy "Georgia 2020". The organization presented the discussion on - "Green Economy: Status, Challenges and Problems in Georgia". Discussion participants: Teimuraz Murghulia - Deputy Minister of Environment; Nino Kvernadze - Ministry of Economy; Nino Chkhobadze - Greens Movement of Georgia/Friends of the Earth; Giorgi Megrelishvili - Young Greens. The project is implemented with support of the German Ministry of Foreign Affairs. Green Economy: Status, Challenges and Problems in Georgia     Source: the organization's page in the social network.

Tbilisi. The Civil Society Institute has developed a guide – "Financial Books and Reporting of Not-for-Profit (Non-Commercial) Legal Entities”. The manual describes the process of keeping accounting books and drawing up financial statements of not-for-profit legal entities. The Civil Society Institute provides a guide to any interested person free of charge. The organization’s contact information   

Tbilisi. As part of the project "Women as Actors for Change and Empowerment", the Young Economists' Association of Georgia and the Women's Information Center have developed a guide on "Woman in Business". The manual strives to support the training and economic activism of leader women identified as a result of social mobilization. The guide Source: ginsc.net

Samtskhe-Djavakheti. Association of Young Economists of Georgia organized two-day business training for women entrepreneurs and members of the self-help groups in Tsikhisdjvari aimed at increasing business skills of 22 participants for starting up and developing the private business in future. Source: the organization’s page in the social network