Issue 3 2016. June-July



From hotels to startups, stock listings to Memorandums of understanding, the latest news in investment in Georgia.

PM Giorgi Kvirikashvili at Investor Roadshow in US
Georgian Prime Minister Giorgi Kvirikashvili recently participated in a multi-city investor roadshow in partnership with Citigroup and J.P. Morgan. The roadshow was organized by the Georgian National Investment Agency.

$1 Million Investment for Topishare
Topishare, a startup social network based in Tbilisi, announced on May 31 that it secured $1m dollar in its Series Round A. The company's press release said the startup is now valued at $10m.

$120m Twin-Tower hotel complex planned for Batumi
Construction of a multi-million dollar complex in Batumi will begin on June 5 and be completed by 2017, the website reported. The Twin Tower complex, which will have 5,000 hotel rooms and apartments, will reportedly be the sixth largest in the world by number of rooms.

European Investment Bank loans €45 million to Georgia
The European Investment Bank (EIB) is lending €22.5 million to finance small and medium-sized enterprises (SMEs) and companies engaged in trade and commerce in the country, reported.
This will be the first tranche of a €45 million loan to Georgia's Bank Republic.

Georgia's GDP Grew 4.3 Percent in April
The estimated real Gross Domestic Product (GDP) growth rate of Georgia reached 4.3 percent year-on-year (y/y) in April, according to official statistics.
Estimated real GDP average growth was 2.3 percent for Q1 2016 y/y and 2.8 percent for the first four months of 2016, compared to the same time last year.

New Charter Georgia-Kazakhstan Flights
SkyBus, a Kazakhstan airline company, is starting charter flights between Batumi and eight cities in Kazakhstan, reported.
Flights will be available eight times a week starting in June; the following cities will be serviced as part of the three-month program: Aktobe - Batumi - Astana; Kyzylorda - Batumi - Aktobe; Shymkent - Batumi - Kyzylorda; Aktau - Batumi - Shymkent; Atyrau - Batumi - Aktau; Karaganda - Batumi - Atyrau; Kostanay - Batumi - Karaganda; and Astana - Batumi - Kostanay.

Commercial Attaches for Georgian embassies
Georgia's Economy Minister Dimitry Kumsishvili has announced commercial attaches will be stationed at the country's embassies to help foster business ties abroad, reported. The move is part of a plan to build stronger economic ties between Georgia and other countries over the next 18 months, the report said.