Page 59 - GEORptMar21

prices, he added.
9.2.2 Aviation corporate news
Ryanair to not resume flights to Georgia this year
Irish low-cost airline Ryanair has announced that “for commercial reasons” it will not resume flights to Georgia this year.
"For commercial reasons, Ryanair will not operate flights to Georgia until 2021. "We are working diligently with our network of airports to facilitate the resumption of air traffic, but our company is gradually emerging from the difficult situation surrounding COVID-19," the airline said in a statement.
From February 1, restrictions on regular air traffic in Georgia were lifted, but passenger flows remain quite low.
Ryanair’s decision to not resume flights this year will be one impediment to the recovery of Georgia's key tourism industry.
In 2020, prior to the pandemic lockdown, Ryanair served 21,323 passengers in relation to Georgia. The company flew from Tbilisi and Kutaisi airports to Bologna and Marseille.
9.2.3 TMT corporate news
Georgian Media Production Group for sale
US software developer EPAM sets up office in Georgia
Georgian Media Production Group, which includes local TV channels Imedi and GDS and Radio Imedi among its assets, is for sale, Agenda.ge has reported.
The Communications Commission of Georgia discussed the proposed sale at a meeting on January 28 and gave its consent to the acquisition of 100% of the shares of Georgian Media Production Group.
The group is owned by Ina Gudavadze, widow of oligarch Badri Patarkatsishvili, who founded the Imedi TV channel in 2003.
The family regained control over Imedi TV – which it previously lost in late 2007 – when the owners, who had close links to the outgoing United National Movement (UNM) government, returned the station a few days after the 2012 parliamentary election that brought the Georgian Dream coalition to power. According to the latest data, the value of the channel’s assets is Georgian lari (GEL) 24.6mn ($7.45mn).
American software development company EPAM has arrived on the Georgian market, Georgia’s economy minister Natia Turnava has announced.
Turnava said EPAM was attracted by state incentives for foreign investors in the IT and maritime services sectors.
"The government has introduced a special regime for IT companies. We already have the first positive feedback. This major US IT company has entered Georgia, and it has decided to open an office and locate part of its business to this country. The company's plans include creating at least 1,000 high-paying jobs in Georgia," Turnava added.
EPAM has operations in more than 30 countries and a workforce of more than 35,000.
Companies that offer IT and maritime services—namely shipping, logistics and trading enterprises—will enjoy favourable terms of taxation in Georgia if they are recorded as having an international status, Georgian finance minister Vano Matchavariani said back on October 8.
To be granted that status in Georgia, it is necessary for a company offering IT or maritime services to be registered in Georgia and to operate for at least two years in the country.
59 GEORGIA Country Report March 2021 www.intellinews.com