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BUSINESS
GEORGIA TODAY
MAY 1 - 3, 2018
Ministry of Economy Holds Entrepreneurial Market at Meidan BY THEA MORRISON
Turkey, Ukraine to Start Joint Production of An-188 Aircraft BY DIMITRI DOLABERIDZE
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urkey and Ukraine are to begin joint production of military transport aircraft An-188. It is reported that the first prototype aircraft, which is planned to be produced as a joint venture, was presented at the International Exhibition of Civil Aviation Infrastructure and Airports EurAsia Airshow 2018, held in Antalya, Turkey, from April 25 to 28 this year. The exact date of the beginning of joint production of aircraft has yet to be reported. Earlier in Turkey, tests were carried out of a long-range land-to-surface missile. Called KAAN, the new missile was
launched from a test site in Sinop province in northern Turkey and, flying 280 kilometers in the specified direction, fell in the Black Sea. It was noted that these tests are the last, after which the missile will be adopted by the Turkish army. The rocket system KAAN produced by the company Roketsan was presented at the international exhibition of the defense industry IDEF-2017 in Istanbul. Since 2011, in Turkey, as part of the strengthening of the domestic defense industry, there has been an increase in the production of mobile outposts designed for the fight against militants of the Kurdistan Workers' Party (PKK), Canik TP9 pistols, ANKA unmanned aerial vehicles, and other military equipment. In recent years, Turkey has invested about $35 billion in the defense industry.
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he Ministry of Economy and Sustainable Development of Georgia arranged a two-day entrepreneurial market at Meidan Square, Tbilisi, on April 28-29. Around 30 Georgian companies and entrepreneurs, mainly beneficiaries of the state-led program ‘Produce in Georgia,’ took part in the sale-exhibition. The main goal of the event was to popularize and promote Georgian products made in the country. The visitors to the market were able to see and purchase various kinds of Georgian products, including: tea, wine, accessories, clothes, books, souvenirs and more. The First Vice-Premier and Minister of Economy of Georgia, Dimitry Kumsishvili, visited the market, spoke with the entrepreneurs and even bought Georgian products himself. Kumsishvili stated that the attending companies and entrepreneurs have become popular in Georgia and have created numerous jobs. He highlighted that the state is continuing the Produce in Georgia program to assist more people who need support to start or develop their businesses. “I met all entrepreneurs presented at this market. They are successful, and we
will always help them to promote their production,” the Minister stated, adding that the location of this year’s entrepreneurial market was selected specially to attract more tourists, in order to inform them about Georgian products. Produce in Georgia is a state-funded program which was launched in 2014 but re-structured in April 2017, to make it more effective. It unites three state agencies: the Property Management Agency, Agriculture Projects Management Agency and Georgia’s Innovation and Technology Agency. It consists of three components: Business- supporting micro, small and medium sized companies to allow them easier access to finances for starting new
businesses or expanding existing ones; Export- a moderator between foreign investors and Georgian entrepreneurs that helps Georgian producers to enter foreign markets and establish their brands there; Investment- strengthening relations with investors and offering them specific projects. Since 2014, Produce in Georgia has supported 344 projects, including industrial, rural, hotel and property directions, with a total investment of GEL 850 million. The volume of loans approved by commercial banks within the project has exceeded GEL 436 million. More than 13,000 new jobs have already been created as a result of the implemented projects.