Delegation of the United Arab Emirates continues visit in Tbilisi
The delegation of the United Arab Emirates signed an agreement with the Georgian side in Tbilisi today. According to the agreement, after having reconstructed the former `Imeli` office in Rustaveli Avenue, the main thoroughfare of Tbilisi, Millennium Company will be operating the hotel located in the building.
According to the project the building will maintain its architectural style, although it will comprise a new 130-meter building.
An investment of USD 40 million will be put into the project, which will employ over 100 people.
The hotel is planned to be opened in 2 years. Tbilisi Mayor and Abu Dhabi Sheikh attended the signing ceremony.
The Minister of Energy and Natural resources, Kakha Kaladze downplays the concerns of some opponents about the possible growth of the electricity consumption charge, saying the electricity tariff will not be changed.
Minister of Foreign Affairs of Georgia says the government will find ways to fit the new trade terms in case Russia bans import of Georgian product on its territory, which is quite possible after Georgia and two other post-Soviet republics signed Association Agreement with the European Union last June.
The International Monetary Fund has approved a 153 million U.S. dollar loan to Georgia - the issue was discussed at the meeting of the Cabinet, at the end of which, the Minister of Finance, Nodar Khaduri defined that the total amount of the loan would be transferred to Georgia during 3 years.
The government of Georgia will allocate five million GEL from the state budget to fund the new program of agriculture insurance - Minister of Agriculture Otar Danelia announced after the meeting of the Cabinet today.
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The Conti Group, an American investment holding enters Georgia by opening its branch here. Kurt Conti, the president of the investment holding company, introduced his plans for Georgia to the Prime Minister of Georgia today.