Indorama Corporation, a leading Asian chemical company based in Singapore, has bought the Georgia-based Rustavi Azot plant, one of the largest suppliers of mineral fertilisers and industrial chemicals in the South Caucasus region. The Georgian Economy Ministry announced the deal on January 13, and said it followed the corporation’s exploration of the Georgian investment climate…
Georgian external trade turnover amounted to $19.04 billion in 2022, up by 32.8% YoY, the Georgian National Statistics Office revealed. The value of exports rose by 31.8% and equaled $5.59 billion, while imports grew by 33.2%, amounting to $13.45 billion in 2022. Trade deficit reached $7.85 billion, and the share of trade turnover hit 41.3%.…
Tbilisi International Airport successfully passed the Airports Council International – Airport Health Accreditation recertification process and received the certificate for the third time, with Batumi International Airport also receiving the accreditation and the certificate for the second time in a row, TAV Georgia, the company operating two major airports in the country, said. As certified…
The Government of Georgia has become a 100% shareholder of Georgian Railway, marking a change in the major company operating rail services across the country. A London Stock Exchange statement sent to investors on December 23, 2022 announced the change in the ownership of the company. Previously, Georgian Railway was wholly owned by the state-owned…
Georgian Finance Minister Lasha Khutsishvili on January 9 said the country’s economy grew by 10% in January-November 2022, with the rate expected to be maintained in the final figures of the year. The ministry on January 9 quoted Khutsishvili as saying the annual gross domestic product per capita number of the past year was expected…
Galt & Taggart, a Georgia-based investment banking and investment management services, has forecast a 5.2% average annual inflation in Georgia this year. In the estimation, published in its Weekly Market Watch on January 9, the company also said the figure was expected to decrease to 3% until the end of the year. “Along with decelerating…
Construction costs across Georgia have increased following boosts in salaries of employees in the sector, the latest figures released by the National Statistics Office show. In its latest updates on the Construction Cost Index – which measures the average price level of construction materials and services used for the construction of residential, non-residential and civil…