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BUSINESS WEEK August 31, 2015 #8
August 31, 2015, Issue 8
Partner News Agency WWW.ABW.GE ajara business week
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Mirza Svanidze: Our Motto Is Maximal Comfort to Clients Pg. 3
Giorgi Lomtatidze: Legislation Ensures Business-Friendly Environment in Georgia Pg. 3 Sulkhan Evgenidze: General Rehabilitation Works Underway in Kobuleti Pg. 10
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Batumi’s Bestselling Soft Drinks The Ajara Business Week (ABW) and Market Intelligence Caucasus, a market research company, continue a join project for conducting weekly research works in Batumi in order to determine five top-selling brands in the specific product categories on the local consumer market. Market Intelligence Caucasus, a subsidiary of the market research global network of TNS, applies
modern and international-standard methodologies. Within this project, we have explored the soft drinks retail market and questioned 500 respondents in the 18 to 65 age category. The ratio of female respondents marked 57%. At the same time, 42% of the respondents were of 18-34 years old and 58% were of 35 to 65 years old. 56% of the respondents were employees. Before we introduce the report, several
Government and Experts Rule out New Wave of National Currency Depreciation The Georgian Government has appraised the GEL rate devaluation as a result of panic conduct. Outcomes of the outer economic shocks have been balanced and, according to the mid August indicators, a decline in imports has fully reimbursed a contraction in exports and foreign currency inflows, Georgian Economy Minister Giorgi Kvirikashvili told the government meeting. As a result of imports contraction, Georgia has preserved 332 million USD foreign currency. The privatization proceeds exceeded 110 million GEL, while the FDI indicators should be still specified. “Based on various factors, including USD balance on accounts of state enterprises that will appear on the market stage by stage and the recent
days’ currency turnover jointly calculated with the national ban, we have all grounds to suppose yesterday’s developments on the currency market was a result of only panic conduct”, Giorgi Kvirikashvili said. The market players that will participate in speculative transactions will finally bear losses, he added. The Economy Minister urged Georgian citizens to show patience, because nothing special is happening on the market. “Currently macroeconomic parameters are healthy and we believe coordinated operation will improve the situation”, Giorgi Kvirikashvili noted. Nodar Chichinadze, a president for the association of young financiers and businessmen (AYFB), says assertions that the GEL depreciation will continue should be appraised as a crime before the society. Pg. 5
interesting facts should be also submitted. Namely, 83% of the respondents enjoy soft drinks at home, 25% in the street, 15% at cafes, 13% at offices, 10% at fiends’ home, 7% at bars, 7% at restaurants, 3% everywhere. Naturally, each respondent could name several places, where they enjoy soft drinks. We introduce this report with interesting results in several directions.
Georgia Notes Record Number of Visitors From Russia
Georgia is becoming more and more popular among Russian tourists”, – BBC Russia reports. As the article points out, due to Russian ruble devaluation and economic problems, outgoing tours are declining, But as for Georgia we have positive conditions. Based on official statistics journalist Nina Akhmeteli has reported that the number of Russian tourists in Georgia has broken records this year and has reached nearly half a million, which is 12 percent higher than last year. Pg. 10
Oil Prices on Global Market Plunge, Profits Margin of Georgian Oil Importers Rises The global stock exchanges are sharply declining in Asia, Near East, Europe and Russia. At the same time, oil prices are falling worldwide. The global tendencies have not much affected the Georgian fuel prices. Supposedly, we should not expect such an affect at all, because Georgian im-
porters follow an iron argument for many years. Fuel importers assert they have purchased fuel reserves at high prices in advance and therefore fuel prices cannot be cheapened considerably, while the contraction in oil prices have influenced fuel prices in almost all countries. Pg. 5
Turkish BoraJet Airline Enters Georgia’s Air Market
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