According to the Agency’s analysis, over 1,000 entities operated in the GPS services market in 2024, with a total market volume of GEL 2,181,758,521.2. The Herfindahl-Hirschman Index (HHI) was 990.4, indicating low market concentration. The Agency also evaluated Tegeta Motors LLC’s planned acquisition of control over GPS Georgia LLC, concluding that the change in the concentration index (ΔHHI) would be negligible, even if both acquisitions occurred. In the GPS and related device import market, 523 entities were active in 2024, with a total market volume of GEL 39,488,597. The HHI was 132.8, and the change in the concentration index (ΔHHI) was 2.5.Based on the market analysis, structure, and shares of the involved parties, the Agency determined that the concentration will not significantly affect competitionFYI: In 2025, the GCCA has approved 12 concentrations to date, while 2 cases remain under review.

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Based on its market analysis, the Agency identified eight companies that held a dominant position (market share exceeding 40%) in relation to 14 specific medicines. The investigation focused on the following companies: Global CBS LLC, Concept Pharma LLC, Bardi LLC, Nuvea Pharmaceuticals LLC, Rich Group LLC, Crocus Pharma LLC, Gea LLC, and BIH LLC.The investigation focused on whether price mark-ups ranging from 300% to 3,000% resulted from anti-competitive conduct by these dominant entities.The GCCA found that four of the companies abused their market dominance by imposing unfairly high prices on seven medicines. Unfair pricing was determined based on profit margins exceeding 30%, combined with additional mark-ups surpassing 20%, which were deemed unjustified. As a result, the four companies were fined a total of GEL 559,358, with individual fines calculated at up to 5% of each company’s 2024 annual turnover, proportionate to the harm caused.- Global CBS LLC- Oflab-Oz, Hyzine, Ioril -10 – Fine 249 144 GEL- Concept Pharma LLC – Floxazol - Fine 21 646 GEL- Rich Group LLC – Zinasen- Fine 77 936 GEL- Gea LLC - Biseptol 120 ml - Biseptol 480 ml - Fine 210 632 GELThe investigation revealed that the pricing structures for some of the medicines included costs unrelated to standard price formation, suggesting potential price inflation. These costs included: Expensive gifts (including gold jewelry); Entertainment at cultural and theater events; Informal stakeholder meetings; Conference and luxury hotel expenses in Georgia and Europe; Cosmetic and dental services; Legal sanctions and fines; Maintenance of luxury-class vehicles, among others.As part of the enforcement outcome, the GCCA issued a mandatory recommendation to dominant undertakings. They are expected to develop internal pricing policies that proactively prevent anti-competitive conduct, in line with the Agency’s guidelines. Prices must not be unfairly high, either in absolute terms or relative to alternative products or services. In cases where the GCCA identifies reasonable grounds for suspicion, a formal investigation may be initiated.The Agency also noted that the period under review preceded the implementation of Georgia’s reference pricing mechanism. Since its introduction, this mechanism has significantly reduced the possibility of inflated medicine mark-ups.

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The issuer will use the raised funds for the construction of a logistics center in Tbilisi.Investor demand for the bonds exceeded the volume of securities.“This is the 8th transaction since 2016, 7 of which were carried out in cooperation with TBC Capital. This is also the 7th transaction for TBC Capital on the Georgian securities market this year: this year we participated in an issue of more than 300 million GEL. TBC Capital is the market leader with a 68% share,” - Otar Sharikadze, Director of TBC Capital said.

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GCAP today announces that the transaction has closed and the cash proceeds of USD 70.4 million have been fully received. The use of proceeds, in line with GCAP’s 360-degree capital management framework, will be announced together with Georgia Capital PLC’s 2Q25 and 1H25 results, currently scheduled for release on 6 August 2025.As a reminder, GCAP announced its full exit from Georgia Global Utilities back in December 2021, and in accordance with the terms of the deal concluded during the same period, the Spanish holding company Aqualia was also to buy out the remaining 20% stake in Georgia Global Utilities.

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Rustavi Azot has been part of Indorama Corporation – a global leader in fertiliser manufacturing – since 2023. It has an annual production capacity of 550,000 tonnes of ammonium nitrate and serves clients across the region. Rustavi Azot’s existing plant is Indorama Corporation’s first European production facility, with the Georgian firm representing a strategic platform for regional growth.The EBRD’s investment comes at a time when the resilience of regional food systems and global food security is a top priority. The modernisation of fertiliser production in Georgia will help to ensure a more stable, locally available supply of high-quality agricultural inputs. A significant part of the financing has been structured as a green loan consistent with the Green Loan Principles issued by the Loan Market Association, with proceeds allocated to eligible green projects.In addition to environmental gains, the project will also bring about benefits in the area of inclusive development. The company will establish an in-house academy to deliver training on market-relevant technical skills, with a focus on roles supporting the green transition.Frederic Lucenet, the EBRD’s Global Head of Manufacturing and Services, said: “The modernisation of Rustavi Azot aligns with our commitment to promote industrial decarbonisation in hard-to-abate sectors like fertiliser manufacturing in our regions. We are pleased to support our longstanding client Indorama’s strategic investment in Georgia.”Amit Lohia, Group Vice Chairman at Indorama Corporation, said: “We are grateful to the EBRD for their unwavering support and confidence, as reflected in this important green financing and the deepening of our growing partnership. This project will help Rustavi Azot to modernise its operations, accelerate decarbonisation and increase product diversification. We look forward to enhancing Rustavi Azot’s competitiveness with such continuing investment programmes.”To date, the EBRD has invested more than €5.52 billion in Georgia through 313 projects, supporting the development of the private sector, the modernisation of infrastructure and the transition to a green economy.

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In 1Q2025, large businesses generated 70.6 percent of total turnover, while medium size businesses generated 13.5 percent, and 15.9% was generated by small business.A distribution was different in case of total production value: 48.6% was on large businesses, 23.1% — on medium, and 28.3% — on small businesses.In 1Q2025, total purchases of goods and services carried out by enterprises equaled 28.8 billion GEL (year-on-year 11.9% more), while the purchase of goods and services for resale amounted to 17.2 billion GEL (year-on-year 7.9% more).In 1Q2025, the average number of persons employed in business sector equaled 771 thousand, which is year-on-year 2.9% more. Out of the total number of persons employed, 43.9% were female and 56.1% were male.Large businesses employed 43.7% of total number of persons, while 20.7% were employed by medium, and 35.5% — by small businesses.The total number of employees amounted to 718.9 thousands (year-on-year 2.2 percent more).The total personnel costs of enterprises equaled 4,7 billion GEL (year-on-year 11.9 percent more).In 1Q2025, average monthly remuneration of employed persons equaled 2 169.6 GEL(184.2 GEL increase year-on-year) while remuneration of employed women specifically was 1 711 GEL (152.3 GEL increase year-on-year). Average monthly remuneration of employed persons by size of enterprises is as follows:• Large business — 2,311 GEL• Medium business — 2,559 GEL• Small business — 1,675 GELIn 1Q2025, the arts, entertainment and recreation has the highest share (35.9%) in the total turnover in business sector, followed by trade sector (including repair of motor vehicles and motorcycles) with 32.7% share, manufacturing - with 7.1%, construction - with 5%, Information and communication – with 4.7%, transportation and storage - with 4.4%, and other sectors - with 10.2% share.In 1Q2025, manufacturing (18.1%), trade (17.1%), construction (15.1%), Information and communication (12.6%) and transportation and storage (9.1%) held the top five places in business sector by production value. The rest of the sectors had 28% share combined.In 1Q2025, trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing, and human health and social work activities led business sector by number of employees (accordingly with 29.1%, 11.7% and 9.7% share).Enterprises engaged in transportation and storage (8%), construction activities (7.7%), information and communication (6.1%), and accommodation and food service activities (5.3%) also had a significant share though.

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“In order to effectively combat crop pests and diseases and, as a result, obtain a high-quality harvest, the National Food Agency calls on farmers not to purchase plant protection products in unorganized trade, to observe storage conditions and deadlines, as well as to take into account dosage and instructions for use,” the agency said in a statement.According to the body, within the framework of state control, special attention is paid to expiration dates, production, packaging, labeling, packaging, storage and sale conditions. The agency’s inspectors take and check samples of agrochemicals and pesticides in order to determine the quality of the preparations and their compliance with the legislation.In 2024, the agency carried out more than 720 state controls in specialized stores. Last year, 450 samples of pesticides and 50 samples of agrochemicals were collected and laboratory tested across the country. As a result of the controls, violations of labeling, packaging and wrapping rules, the sale of low-quality, expired and unregistered drugs, and activities without registration in the Register of Economic Activities and recognition as a business operator were identified. 123 business operators were fined for the identified violations.

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"We are proud to announce a very exciting partnership between Tskali Mtis • Water MTIS and one of the world's famous football clubs PSG - Paris Saint-Germain.Tskali Mtis has become the official regional partner of Paris Saint-Germain," Nana Janjgava wrote.According to Temur Chkonia, owner of Coca-Cola Bottlers Georgia and McDonald's Georgia, this collaboration will offer consumers not only a premium drink, but also their own vision and support the development of sports and culture among young people.“We are delighted to sign a partnership between “MTIS” and “Paris Saint-Germain”. This collaboration will help us offer consumers not only a premium drink, but will also highlight our vision, now at the international level, to support sports, cultural development of young people, and innovations,” said Temur Chkonia.Water MTIS is a natural, mineral water, which is produced by the Coca-Cola Bottlers Georgia company.

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According to the EU Delegation, the findings were derived from responses by up to 200 European companies operating in Georgia and it shows that businesses are facing challenges that could hinder long-term economic stability.“Georgia’s Business Landscape: Economic Growth Faces Political, Workforce and Structural Barriers Despite continued economic growth in 2023 and early 2024, businesses in Georgia are facing number of challenges, primarily driven by political uncertainty and workforce shortages, according to the newly released EU Business Climate Report Georgia 2024. The survey, conducted among up to 200 companies with European links, highlights concerns that could hinder long-term economic stability.Key Challenges Facing Businesses in GeorgiaThe report underscores three critical obstacles affecting businesses: Political Instability: The stalled EU accession process since June 2024, coupled with upcoming parliamentary elections, has impacted business environment –76.7 % of companies cite instability as a major concern Workforce Deficit & Skills Gap: Nearly half of surveyed companies report skills shortages leading to 5-40% underperformance, with an estimated annual GDP loss of 26%. Exchange Rate Fluctuations: Currency instability continues to challenge businesses in financial planning and investment decisions. Additionally, concerns over corruption and regulatory inefficiencies have been raised by businesses, particularly in relation to tax policies, public procurement, and the judicial system, further complicating the investment climate.One of the most important findings is the severe shortage of skilled labor, which has led to an annual income loss of 55.6 billion GEL across businesses. High emigration and mismatched education programs further worsen this issue. Despite its cost, investing in internal workforce training has shown a positive return for businesses proving that workforce development is a key driver of resilience.Impact of Workforce Shortage: GDP loss: -26% annually Value added shortfall: -21.2B GEL Unrealized business income: -55.6B GEL Meanwhile, while the EU remains Georgia’s largest trade partner, exports to the EU fell by 18% in 2023(Geostat figures), primarily due to: High compliance costs for EU standards Lack of accredited laboratories for European certification Limited understanding of regulatory frameworks among businesses Additionally, SMEs, despite showing growth, still struggle with low economic contribution, and their access to EU markets remains challenging.The report calls for accelerated judicial and education reforms to enhance business confidence. Education institutions must work closely with the private sector to align skills development programs with market needs. Meanwhile, improving economic policies and trade infrastructure will be crucial to sustaining Georgia’s EU market integration efforts.In conclusion, the findings of the EU Business Climate Report Georgia 2024 paint a complex picture. While economic growth continues, it is overshadowed by political uncertainties, workforce shortages, and trade barriers. To maintain momentum, Georgia must address these structural issues—particularly workforce development—to secure long-term stability and EU market access,” notes the information by the European Union Delegation to Georgia.

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The increase was observed in the production value of the business sector as well. In 4Q2024, production value equaled 23.5 billion GEL, which is 10.8% more year-on-yea.In 4Q2024, large businesses generated 67.6% of total turnover, while medium-sized businesses generated 14.9%, and 17.5% was generated by small businesses.A distribution was slightly different in case of total production value: 43.8% was on large businesses, 25.1% - on medium, and 31.1% - on small businesses.In 4Q2024, total purchases of goods and services carried out by enterprises equaled 33.2 billion GEL (year-on-year 8.6 percent more), while the purchase of goods and services for resale amounted to 18.8 billion GEL (year-on-year 0.6 percent less).In 4Q2024, the average number of persons employed in business sector equaled 811.8 thousand, which is year-on-year 3.8% more. Out of the total number of persons employed, 43.7% were female and 56.3% were male.Large businesses employed 41.7 percent of total number of persons, while 21.5 percent were employed by medium, and 36.9 percent - by small businesses.The total number of employees amounted to 764.2 thousands (year-on-year 3.0 percent more).The total personnel costs of enterprises equaled 5 536.6 million GEL (year-on-year 10.9 percent more). In 4Q2024, average monthly remuneration of employed persons equaled 2 367 GEL (170.8 GEL increase year-on-year) while remuneration of employed women specifically was 1 847 GEL (159.7 GEL increase year-on-year). Average monthly remuneration of employed persons by size of enterprises is as follows:⦁ Large business - 2 466 GEL⦁ Medium business - 2 750 GEL⦁ Small business - 1 969 GELIn 4Q2024, construction (20.5 percent), trade (18.6 percent), manufacturing (17.6 percent) and transportation and storage (9.5 percent) held the top four places in business sector by production value. Rest of sectors had 33.8 percent share.In 4Q2024, trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing, and human health and social work activities led business sector by number of employees (accordingly with 28.5 percent, 11.3 percent and 9.2 percent share).However, enterprises engaged in construction activities (8.6 percent), transportation and storage (8.2 percent), information and communication (6.2 percent), and accommodation and food service activities (5.3 percent) had also a significant share.

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