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The Economic Institutions of Capitalism

Capitalism refers to an economic and social system in which the means of production are predominantly privately owned, are operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a market economy. It is usually considered to involve the right of individuals and corporations to trade, using money, in goods, services (including finance), labor and land.

Stocks hit as Georgian-Ossetian conflict threatens to turn into all-out war

The Russian stock market plunged to its lowest levels since fall 2006 on August 8, partially because of poor trends on other markets, but mainly due to geopolitical risks related to the conflict between Georgia and South Ossetia, which could suck Russia in as well.

Read more: Stocks hit as Georgian-Ossetian conflict threatens to turn into all-out war

Ukraine would be drawn in its own crude oil

The results of a study performed by Abkhazia Institute for Social and Economic Research have shown that shortly Ukraine would be drawn in its own crude oil.The results of a study performed by Abkhazia Institute for Social and Economic Research have shown that shortly Ukraine would be drawn in its own crude oil.

After an interview with Mr. Jin Van Dike, the owner and the founder of Vanco Energy , it became clear that there is a possibility of discovering 2-3 billion barrels of crude oil in Ukraine. As a result of long negotiations between Vanco Energy and the Cabinet of Ministers of Ukraine, initiated in 2006, the company has obtained a license to perform exploration and workings on the Kerch deep water coastal region on the Black Sea. 

Read more: Ukraine would be drawn in its own crude oil

the Georgian telecommunication system

For the Georgian telecommunication system the past five-year period has been а stage of structural changes aimed at libera1ization and integration with the international telecom­munication community - оnе of the priorities of the country.

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Transport

Georgia's geographic location, bridging several economic regions, provides it with an unique competitive advantage as the transit country. Situated at the crossroads between Europe and Central Asia, it functions as the natural transport corridor between the West and the East. Georgia is the shortest transit link for the transportation of raw materials, goods, gas and oil from Azerbaijan and Central Asia to the West, as we has western goods and commodities on their way to Central Asia. At the same time, Georgia functions as the vertical North-South transportation link between Russia and Turkey and, via Armenia, to Iran.

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Banking is one of the most dynamic sectors of the Georgian economy

During the last 5 years, the number of banking service customers has increased very rapidly. Deposits by individuals and companies are increasing by 25-35% each year. Banks are experiencing an average return on assets of 3-5% and return on investments of 14-18%.
Commercial banks operating in Georgia offer a wide range of modern services to their local and foreign customers on equal status.  All services are conveyed according to accepted international banking practice.

Read more: Banking is one of the most dynamic sectors of the Georgian economy

Tourism Industry

A picturesque nature, landscapes Great Caucasian Ridge, subtropical zone of the Black Sea, rivers and waterfalls, cave towns, resorts and mineral springs, urbanized cities and settlements, and traditional Georgian hospitality make Georgia the country of tourism.

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