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Announced tender for construction of the port Anakliya

The Georgian government, through the Ministry of Economy and Sustainable Development, invites local and international companies to take part in the competition for expression of interest for the construction of a new multi-function port Anakliya (Western Georgia), was said in the press service of the Georgian prime minister.

According to information, by the order of the Georgian government was set up a commission for reviewing the applications for participation in the competition for the expression of interest, which is headed by the Prime Minister of Georgia Irakli Garibashvili.

This decision was preceded a research made by partner funds of Georgia in order to choose the best location for the port. As a result of the 10 locations, located on the Black Sea coast between Inguri and Chorokhi, priority was given to Anaklia, as compared to alternative locations, dock has the prospect of expansion and development, as well as good access to the deep sea canyon.

Georgian Prime Minister said that the location of Anakliya differs with competitive advantages and called the construction of infrastructure project on this scale the most important for the country. According to him, the port Anakliya will raise the transit potential of the country to a new level.

We recall that the issue of Anakliya port development and tight-fitting area was discussed in February 2014 at a meeting of the Minister of Economy and Sustainable Development Giorgi Kvirikashvili with the president of the American investment holding "Conti Group" Kurt Conti, during which "Conti Group" presented a three-phase project of port building, with the throughput capacity of 100 million tons.

"According to preliminary calculations, besides a port in Anaklia is expected to develop a logistics and industrial zone, construction of an international airport and a liquefied natural gas terminal", - according to the Ministry of Economy and Sustainable Development of Georgia, noting that "Conti Group" has 100 years of experience in the management of similar projects .

The Georgian government will promote the growth of confidence to the national currency

The Georgian government will promote the growth of confidence to the national currency and will ensure reduction of dollarization. This is stated in the governmental program "For a strong, democratic and united Georgia", which the Parliament of Georgia, together with a renewed staff of the government expressed a vote of confidence.

According to the program, the government will promote the existence of healthy competition among commercial banks; will be introduced deposit insurance system, which will be a reliable stimulation mechanism for the growth of deposits and savings.

In general, the monetary policy of the country will focus on the introduction of long-term targets: will be determined the main priorities of monetary and exchange rate policy, where the currency emission will correspond to the economic growth of the country.

With respect to the fiscal policy of the government document says that the state will ensure improvement of public finance management, the budget, on the one hand carry out priority areas for growth and social spending, and on the other hand help to stimulate the economy and at the same time to maintain fiscal stability of the country.

"Parallel with the increase of the expenditure part of the budget, in order to stimulate the economy may increase the fiscal deficit; although in the medium term will be saved its lowest index. In the medium and long term state will ensure the preservation of the basic macroeconomic and fiscal indicators in the indicators that will be possible to improve the assessment of rating agencies and the country will be attractive in terms of investment climate. It will be a guarantee of a stable development of the economy in the long term"- is said in a government program.

Also was promised to develop effective mechanisms for establishing budget priorities that will focus on the identification of the problems of society.

"Will be perfected composition methodology of the program budget, audit mechanisms in the management of public finances. In order to improve the budget process will be provided with effective mechanisms for the use of the findings and recommendations developed by the Service State Audit "- the document says.

Georgia's transportation system will be brought in accordance with international standards

The Georgian government will improve the transport system, will bring transport infrastructure in accordance with international standards by promoting the development of logistics centers and multimodal and intermodal transport.

According to the program, in the field of civil aviation, the Georgian government will promote the policy of "open sky", and at the same time, will provide implementation agreement "On common airspace between Georgia and Euro integration, States and its members".

"This will provide in the field of civil aviation development at the European level of flight safety, aviation security, environmental protection, consumers' protection and other areas, as well as the integration of Georgian airspace in the unified European air space" –is said in the document.

The Georgian government will develop a small aircraft and transport infrastructure in mountainous regions, which will contribute to the economic development of these regions.

US-Canadian holding acquainted with investment projects in Georgia

Inspection with the investment projects existing in Georgia, and the possible participation in them was the main topic of the meeting of the Minister of Economy and Sustainable Development of Georgia George Kvirikashvili with representatives of the US-Canadian holding Angus Consulting Management Limited.

According to the information in the course of the meeting, Minister of Economy and Sustainable Development of Georgia informed the vice-president of the holding and director of international projects with the business environment existing in Georgia and current projects.

The sides also discussed prospects for economic cooperation in various fields.

The sphere of activity of the US-Canadian holding Angus Consulting Management Limited is energy and construction. The company has implemented a number of international projects in Canada and the United States.

Construction of Gori-Kareli section will be completed in October

Construction of the 20-kilometer section of 700 mm pipeline of Gori-Kareli (Western Georgia) will be completed in October this year. To date, construction works are completed by 43%, reported in the Oil and Gas Corporation of Georgia (GOGC).

Stocks rise and fall as business inventories edge up

USA/ The stock market traded in a tight range Thursday after the government said businesses increased inventories by a larger-than-expected amount in November.

The gain in inventories is a welcome sign for the economy and suggests that businesses are feeling more confident that sales will pick up. It was the second straight month that stockpiles increased after 13 months of declines.

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