GEORGIA: Independence Day & more – 30th May 2024

k sold $49 million out of the $60 million dollars offered at a foreign exchange auction to provide liquidity and address excess demand due to recent large transactions. Natia Turnava, the bank’s governor, said that Georgia saw an almost 8 percent increase in its real GDP in twenty twenty-three, mainly driven by investments.

On Monday the 27th, the visa-free travel scheme for Georgians to visit China came into effect. The Chinese Embassy announced that Georgians could stay in China for up to thirty days per visit and up to ninety days in total within 180 days. However, for stays longer than thirty days to work, study, or other activities, Georgian citizens will need to apply for a visa.

In a tragic event on Thursday the 23rd, a mother and her daughter were shot dead on Dumbadze Street in Rustavi, Kvemo Kartli region. Preliminary results of investigations suggest the incident might have stemmed from a domestic dispute. The Ministry of Internal Affairs has detained a suspect.

On Monday the 27th, the Rule of Law Spring School event in Telavi, in the Kakheti Region, came to an end. Organized by The United Nations Development Programme (or UNDP), it brought together fifty young people from Georgia, Ukraine, and Egypt to learn about civil rights and public international law. Participants engaged with UN officials and law experts to explore the UN system and mechanisms for protecting civil, economic, political, and refugees' rights.

Speaking of the UNDP, on the same day, high school students from Anaklia and Batumi monitored dolphins on the Black Sea coast. This activity was part of a EU and UNDP project called 'EU4EMBLAS,' where students attended seminars at Batumi State University to learn about marine biodiversity and conservation. They will participate in other educational activities, until the annual Black Sea Day celebration in October.

On Saturday the 25th, the NGO American Friends of Georgia (or AFG) celebrated its 30th anniversary with a gala at The Biltmore Hotel Tbilisi. The AFG was founded in nineteen ninety-four and supports children and elderly individuals across Georgia. The gala included an auction to raise funds for projects like the Dzegvi Shelter and the Hospice and Palliative Home Care Program.

Moving on to energy news, on Monday the 27th, Georgia launched a green hydrogen project. The Ministry of Economy, the Georgian Oil and Gas Corporation, Batumi City Hall, and the German development bank KfW signed an agreement for a power plant near Tbilisi. With a budget of over 1 million euros, this project aims to replace Batumi's public transportation with green hydrogen-powered vehicles, supporting Georgia's goals for decarbonization and renewable energy.

Georgia also goes green in the real estate sector. On Friday the 24th, the company Gumbati Holding talked about its Vake Residence project. It will showcase sustainable architecture with green construction techniques and energy-efficient features, making it an attractive investment in Tbilisi's real estate market. The project aims to improve air quality.

On another note, a Chinese consortium, including China Communications Construction Company Ltd and China Harbor Investment, will build a new deep-water port in Anaklia. Levan Davitashvili, the Minister of Economy, said the consortium was the only one to submit a complete proposal with all the needed guarantees. The state will own 51% of the joint port construction company, while the private partner will hold 49%. The project is expected to create many jobs and boost the economy.

In more infrastructure news, on Thursday the 30th, Prime Minister Irakli Kobakhidze and Tbilisi Mayor Kakha Kaladze inaugurated the new bridge connecting the Bagebi settlement and University Street. The bridge’s aim is to reduce traffic and improve travel routes. The project includes sidewalks, LED lighting, railings, insulation, and a drainage system. Construction started back in September twenty twenty-one, costing 36 million lari, which is 1.3 million US dollars.

And to close this edition, some historical discoveries. On Monday the 27th, an international archaeological expedition found the ruins of an ancient palace in the Alazani Valley, in Eastern Kakheti. This palace, dating back to the 5th-4th century BC, spans one hectare. The National Museum shared photos of the site, showing a complex building with a large hall and a square podium, likely the king’s domain. Agricultural activities have damaged the ruins close to the soil surface. The expedition team included experts from the Georgian National Museum, the Ludwig Maximilian University of Munich, and students from Tbilisi Ivane Javakhishvili State University.

Aaand that’s it for this week! Thank you for joining us!

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Nakhvamdis!