Caucasus Business Week #139

BUSINESS WEEK

DISTRIBUTED FREE OF CHARGE

caucasus1

March 28, 2016 #139

March 28, 2016, Issue 139 - www.cbw.ge

econo-mix

ajara

Investment

Russian Giant Accused of Corruption

Did Investments in Ajara Grow or Decline?

What does Georgia offer Belarusian investors?

Pg. 5

Pg. 6

Pg. 2

Kvirikashvili

Humanity-Georgia Imports More Medications on the Market Andrey Kuzma, director general of Humanity Georgia pharmaceutical company, noted that in the near future the company will import additionally 20 new medications.

Humanity Georgia keeps partnership relations with the market players. Almost all pharmacy networks main open to Humanity Georgia products.

“I hope this policy of openness will be maintained in the future too and no unacceptable forms of relationships such as artificial restriction or concealment of medications will take place in these networks.

Naturally, we provide active work with doctors and the whole society in this direction to make them aware of pharmacological properties of our medications to eradicate any ground for skepticism. Our objective is to prove that high-quality and efficient medication should not be necessarily expensive.

Pg. 11

The Healthy Online Grocery Shop delivers food directly from the villages

Pg. 7

A new startup helps you to save time and eat healthy. “Soplidan” is registered in the databases of NFA (National Food Agency), as a business operator, which makes it obligated to follow the rules of product inspection, transportation and storage. The information was provided by Natia Ninikelashvili who is one of the founders of the company.

Ltd. “Soplidan”owns the web site (www.soplidan.ge) where it is possible to buy natural country products online, the customer will receive them home in case of ordering any product from the web-site.

The customer is able to pay fee directly by plastic card, cash when receiving the product on place.

The product can be purchased by local Georgian bank cards, as well as International plastic cards.

Pg. 9

2 GOVERNMENT

NEWSROOM The Government Works on the Employment Model of Students According to Kvirikashvili, creation of professional education system oriented on the labor market is a primary task.

Partnership Fund and Zhangs’ Province Sign Memorandum The meeting has highlighted deepening issues of trade-economic relation between China and Georgia.

ECONOMY

Germany Grants €140m to Georgia German Federation Republic will allot debt of around 135 million EUR and grant of 5 million EUR for implementation of investment projects.

Moody’s forecasts 4% economic growth in Georgia through 2017 Moody’s estimates, that Georgia’s growth is forecast to return to 4% in 2017, supported by increased foreign direct investment, export growth and reforms.

BANKING

Assets of banking sector have exceeded 25,5 billion Foreign capital exceeds 80% in banks’ total paid-in chartered capital. Banking sector has finished with a profit.

Top-5 of biggest banks is changed There is a new distribution in Top-5 of banks. Cartu Bank has entered in the Top-5 , while VTB Bank has headed on the 6th position. Bank’s total assets exceed 25,5 billion GEL by March 1, 2016.

BUSINESS

Chinese Strategic Market As Georgian Wine Export Increase In the past 12 months the amount of Georgian wine China imported had increased dramatically. In 2015 China imported 2,672,154 bottles of Georgian wine – a 122 percent increase on 2014.

American Brand to Unveil 4 Hotels in Georgia Best Western has been operating in Georgia since 2013. The US company unveiled the first 45suite hotel of Best Western Tbilisi near the Sports Palace in 2013.

The brand is officially represented

by Capitol Real Estate company.

COMPANY

The First Plant of Innovative Drying Technology to Build in Samegrelo It is planned to build the first fruit and vegetable drying processing plant in Samegrelo region. The project will be implemented at the beginning of April.

What does Georgia offer Belarusian investors?

“Georgia is offering attractive opportunities to run European businesses, invest and implement innovative ideas.”

With these words was how Georgia’s Prime Minister Giorgi Kvirikashvili addressed members of the Belarusian business society at the Georgia-Belarus Business Forum.

The Belarusian capital Minsk hosted the international forum on March 22-23. Georgia’s PM visited Minsk to attend the Forum and the events it included.

Fifty Georgian and Belarusian businesses participated in the bilateral forum.

Speaking to participants, Kvirikashvili highlighted the advantages entrepreneurs could benefit if they invested in Georgia.

An open, transparent and inclusive business environment is at your disposal. Our easy customs and tax system, and noncorrupt Government are also part of our business-friendly environment,” Kvirikashvili said.

The Georgian high official told the Belarusian investors Georgia had agreements to avoid double taxation with 44 coun-

tries and Free Trade deals with the European Union (EU), Turkey and other countries in the Commonwealth of Independent States (CIS) – reaching markets of 800 million customers.

As of today Georgia also was negotiating with China to establish a Free Trade agreement.

Furthermore, Kvirikashvili stressed Georgia enjoyed a Generalised Scheme of Preferences (GSP) with the United States (US), Canada, Japan, Switzerland and Norway – reaching markets of 500 million customers.

Kvirikashvili announced Georgia was working on new law together with international financial corporations that focused on investor’s rights based on best international practice and recommendations.

Georgia’s state programs that supported business were introduced at the forum. As an example Kvirikashvili spoke about the ‘Produce in Georgia’ state scheme, which financed 154 projects worth totalling 375 million GEL (about $162 million/€145 million*).

The Georgian Prime Minister added local foundations such as

Partnership Fund and the Co-Investment Fund would also support Belarusian investors in their activities in Georgia.

Georgia’s strategic location and its transit role was another advantage that could attract Belarusian investors, believed Kvirikashvili. He talked about the future projects that could link different countries of the region, and Asia to Europe.

These projects were the Anaklia Deep Sea Port development project, the Baku-TbilisiKars Railway project, the Silk Wind Train project and the Silk Road Forum.

Kvirikashvili said Foreign Direct Investments (FDIs) were also increasing in Georgia and this contributed to a growing economy.

FDIs increased by 97 percent in 2014 compared to 2013. Preliminary data says FDIs reached $1.35 billion USD in 2015,” said Kvirikashvili.

Trade turnover between Georgia and Belarus was positive but the partnership could intensify to reach $200 million USD, believed Belarusian officials.

New Tax Code for Georgia in January 2017 A draft law on modifying Georgia’s income tax rules will come into force in January 2017 instead of July 2016, taking into account requests from local businesses to postpone the enactment of new Tax Code law.

Georgia’s Finance Minister Nodar Khaduri announced the new Tax Code law would enter into force in January 2017, allowing businesses time to “better prepare” themselves for the new law.

Now businesses will have time to minimise the potential risks they would face if the law came into force this July,” Khaduri said.

The Georgian Government

BUSINESS WEEK caucasus

The Editorial Board Follows Press Freedom Principles Publisher: LLC Caucasian Business Week - CBW Address: Aleksidze Street 12 Director: Levan Beglarishvili WWW.CBW.GE

March 28, 2016 #139

Mobile phone: +995 591 013936 Email: caucasianbusiness@gmail.com

planned to make the new law operational from July 2016 however local business representatives argued this was not enough time for them to prepare and adjust to all the changes.

Georgia’s Finance Ministry listened to their concerns and postponed the date when the new Tax Code law will be enforced.

Georgia’s new Tax Code will be implemented in three stages.

Firs stage – Changes will be applied to Value Added Tax (VAT). Imported goods will be exempt from VAT, which will simplify tax administration. The change will become operational once the new Tax Code law

comes into force.

Second stage – Income tax will be replaced by profit-sharing tax, which will enter into force from January 2017.

Third stage – Changes will apply to the financial sector from January 2019.

The Government of Georgia started working to simplify the country’s Tax Code after Georgia signed its Association Agreement (AA) deal with the European Union (EU) in mid-2014.

Since then Georgia’s economic team has worked to improve the country’s investment climate, attract more investors and additional capital to the country.

Editor: Nutsa Galumashvili. Mobile phone: 595 380382 Reporters: Nino Kuparashvili, Lazare Gvimradze; Shiva Parizad.

Designer illustrator: Ilia Chrelashvili. Technical Assistant: Giorgi Kheladze

Source: www.commersant.ge, www.bpi.ge, www.gbc.ge, www.agenda.ge, www.civil.ge

March 28, 2016 #139

PUBLICITY

3

INTERVIEW

4

March 28, 2016 #139

Foreign Investors Seek to Invest In Georgian Power Sector

The Association of Young Financiers and Businessmen (AYFB) comments on the preliminary report on IFD inflows that was published by the national statistics service of Georgia. Under the report, investment inflows to the power sector have decreased.

The FDI inflows in the sector made up 90 million USD, down 100 million USD (-53%) compared to the 2014 final report.

Despite the Geostat’s report, the energy sector remains an attractive direction for investors. At the same time, the FDI calculation methodology is based on special approaches and the preliminary reports cannot be used for making essential conclusions, AYFB analyst Andria Gvidiani said. „It should be noted the power sector remains one of the most attractive directions for foreign investors. At this stage, about 20 hydro power plants are being constructed, while feasibility studies are underway on about 120 projects.

The preliminary indicators published by the statistics services cannot be fully relevant for making final conclusions.

As a rule, preliminary indicators largely differ from the final reports. The below chart reflects preliminary ands specified FDI inflows to the power sector due to years.

Since 2011 (detailed sectoral indicators in terms of FDI inflows are available from only 2011) specified reports always prevail over preliminary indicators and this tendency is maintained every year. I suppose the 2015 final indicators will increase again because in the fourth quarter of 2015 Nenskra HPP construction works started that is the major HPP project among all other ongoing proj-

Andria Gvidiani - Analyst of Association of Young Financiers and Businessmen

ects. Its investment value makes up 1 billion USD. Moreover, under the FDI statistics calculation methodology, preliminary indicators are published on quarter basis, on the 70th day after completion of the reporting period, and the existing preliminary quarter indicators constitute preliminary indicators of the year, while the final reports are published by the statistics service on the 15th of August of the next year of the reporting period.

One of the main factors for making erroneous reports is related to the established practice,

Korean Company Invests in Georgian Energy Sector Korea Hydro & Nuclear Power (KHNP), a Korean power company, is interested in making investments in Georgia. The company delegation has visited the Georgian Partnership Fund to receive information on the current situation in the Georgian power sector.

According to the Georgian Partnership Fund, Korea Hydro & Nuclear Power (KHNP) operates in the energy field and plans to hold meetings at the Georgian Energy Ministry to collect comprehensive information about the Georgian Power sector.

when companies submit specified indicators of losses and profits to the statistics service only once a year. This factor, naturally, leaves a wide gap between preliminary and specified indicators. This factor should be considered one of the main shortcomings in the statistics calculation methodology”, Adria Gvidiani noted.

The analyst also disapproves the considerations as if the existing tariff policy in the energy sector and failure for joining the energy union are main reasons for investments reduction in the Georgian power sector.

“It should be noted a part of experts refers to tariff policy to substantiate the slowdown in FDI inflows in the preliminary indicators. The current tariffs do not reflect the market realities and the electricity consumer tariff is far lower to the market prices and this factor suggests investors no to make investments in Georgia, this part of experts are saying. I assure you that similar considerations are ungrounded and these factors could not diminish investment inflows, because

<<Under the current legislation, investors are given very strong guarantees from the government.>> The Energy Ministry follows the practice of memorandums that provide guaranteed tariffs for electricity sales. At the same time, It should be noted it is less imaginable to find more reliable and attractive environment for investors.

Another argument submitted by this part of the experts is also unacceptable. They assert that Georgia has not joined the energy union and this factor has also preconditioned a decrease in FDI inflows. They think this fact creates non-transparent environment in Georgia and investors abstain from putting capital in the country. I believe this argument is ungrounded and the above-mentioned practice of memorandums will also prove my assertion. These

memorandums clearly determine obligations of both investors and the government. Moreover, the mentioned argument is useless because Georgia was not member of the energy union when FDI inflows recorded impressive figures”, Gvidiani said The AYFB analyst says that the national currency volatility should be considered as one of the main preconditions for declination in investment inflows. The currency exchange rate volatility always affects FDI inflows, he said.

“Besides the above-mentioned factors, the national currency fluctuation has also driven the FDI slowdown tendencies to a certain extent. In 2014 the GEL exchange rate against USD was 1.75 on average and 2.35 in 2015, this signifies 33% year on year contraction.

Namely, the investor was paying 100 USD for 175 GEL service in 2014 and 75 USD for the same services in 2015. Therefore, in 2015 the FDI amount marked ¼ lower figure, while the investors could buy the same services and goods for the mentioned sum”, Andria Gvidiani noted.

March 28, 2016 #139

Russian Giant Accused of Corruption Beeline cellular operator and Caucasus Online are expected to merge in the Georgian communications market. The Russian cellular communications company has been trying to buy Caucasus Online, one of the leading internet providers in Georgia, over the recent months.

Beeline is a subsidiary of Russian VimpelCom.

DAVID BAGHASHVILI

T

he Georgian National Communications Commission (GNCC) will take a final decision on April 4. If the GNCC approves this deal, Beeline will be able to buy Caucasus Online. A part of Georgian politicians and NGOs object to this deal.

They assert that the Russian company should not take control over Georgia’s strategic sector – internet communications. Meanwhile, Beeline director general Giorgi Tkeshelashvili assures that the deal will considerably decrease internet service tariffs.

Beeline plans to expand its influence in Georgia, while its parent company VimpelCom is exposed in international corruption scandal.

5

ECONO-MIX

Russia’s VimpelCom will pay $835 mn over corruption charges.The huge Russian mobile phone operator, controlled by billionaire Mikhail Fridman, was accused under the US Foreign Corrupt Practices Act (FCPA) of paying more than USD 114 million to a “relative” of Uzbek President Islam Karimov between 2006 and 2012 for mobile phone licenses and frequencies.

Russia’s VimpelCom has agreed to pay USD 835 million to settle US and Dutch charges it paid massive bribes to get into the Uzbekistan telecommunications market, the US Justice department announced.

The huge Russian mobile phone operator, controlled by billionaire Mikhail Fridman, was accused under the US Foreign Corrupt Practices Act (FCPA) of paying more than USD 114 million

to a “relative” of Uzbek President Islam Karimov between 2006 and 2012 for mobile phone licenses and frequencies. The Justice Department also said it had moved to seize USD 850 million in Swiss and other European accounts controlled by the relative that came from bribes paid by VimpelCom and other companies doing business in Uzbekistan. Karimov’s eldest daughter Gulnara Karimova was placed under house arrest two years ago as she was probed for corruption, a spectacular fall from grace for the flamboyant figure who once served as the country’s envoy to the United Nations, as well as dabbling in fashion design and pop music.

US officials were unwilling to identify the relative involved in the VimpelCom case. The settlement includes USD 167.5 million for the US Securities and

Exchange Commission, USD 230.1 million for the Department of Justice, and USD 397.5 million to the Public Prosecution Service of the Netherlands.

These cases combine a landmark FCPA resolution for corporate bribery with one of the largest forfeiture actions we have ever brought to recover bribe proceeds from a corrupt government official,” said Assistant Attorney General Leslie Caldwell.

It is worth noting the price of shares of VimpelCom were extremely declining throughout 2015 and a slight upturn was recorded only in the beginning of 2016. According to the Financial Times, NSDQ’s year on year contraction marked 2.32%, while the price of VimpelCom shares dropped by 25.14%.

The 25% depreciation of the company shares clarifies how heavy charges were imposed on the company and how international confidence in this company has dropped.

VimpelCom’s exposure in corruption has not changed the plans of its subsidiary in the Georgian market. Despite the huge fine that VimpelCom has to pay, Beeline is still interested in operating in the Georgian internet market.

Beeline is a Russian company and it is unacceptable that Beeline buy Caucasus Online, opponents of this deal were substantiating their position in this way. Now they have obtained additional arguments, as Beeline is reported to be owned by persons with questionable reputation, who are said to be applying even bribery mechanisms for gaining dominant positions on the market.

www.cbw.ge <<

Giga Chkheidze: Family Physicians Medical Education Support is an Important and Necessary

<<

Georgia to Begin Antihail Rockets Production

<<

TBC Bank Named the Best Bank in Georgia 2016 by Global Finance Magazine

<<

Liberty Bank Ends February in High Profits

<<

Georgian Wine Bottle Ranina Ranked First at Top 10 Packaging Projects

6

AJARA

March 28, 2016 #139

According to the 2015 preliminary report, the foreign direct investments in the Ajara Region declined by 24%, while the Ministry of Economy and Finance of the Autonomous Republic of Ajara assures that the ratio of foreign investments in total private investments made up 53%.

MAIA ARABIDZE

P

MC Research Center reports that the Geostat indicators reflect preliminary indicators that may increase or decline in the final report that will be published in August 2016.

Before we have the final report, there are two indicators that cannot be brought under question, because both indicators are based on competent and reliable sources. Therefore, the final word rests with the Geostat, the national statistics service of Georgia.

PMC Research Center report suggests that FDI inflows to the Ajara Region have declined by 23.8%, according to the 2015 preliminary indicators.

Foreign investors find Ajara as the second most attractive region in Georgia, after Tbilisi.

PMC Research Center analysis shows that after Tbilisi the most attractive regions in Georgia for foreign investors are as follows: Ajara (9%), Kvemo Kartli (4.1%) and Samegrelo-Zemo Svaneti and Guria (3.8%), including, as compared to the previous year, in 2015 investment inflows increased in Kvemo Kartli (+0.3%) and decreased in Ajara (-23.8%), Samegrelo-Zemo Svaneti and Guria (-45%).

Total FDI inflows to Tbilisi throughout 2015 have declined by 17.5% year on year.

Nevertheless, the capital city’s ratio in the 2015 total FDI inflows to the country rose by 5.5% to 81%, because foreign direct investments dropped in larger amounts in regions.

The Ministry of Finance and Economy of Ajara: In 2015 foreign direct investments in the Region rose by 53.2%.

According to the Ajara Finance Min-

Did Investments in Ajara Grow or Decline? istry statistics, as compared to 2014, in 2015 private direct investments in Ajara rose by 33% to 366 million USD, including 87 million USD were of domestic origins and 279 million USD were foreign direct investments (FDI), while the 2014 FDI inflows marked only 182 million USD. This signifies the year on year growth made up 53.2%, according to the Ajara Finance and Economy Ministry.

Sectoral ratio in private foreign direct investments show that major investments are made in the power sector (53%), tourism sector (39%) and the development sector (7%), according to the Ajara Finance Ministry report.

Hence, major investments were made in the Ajara energy sector throughout 2015 and the sector’s ratio in total FDI inflows marked 41%. The tourism sector emerges

as the second attractive field with 33% ratio, the development sector accounts for 23%, the agriculture – 1%, industry – 1% and all other sectors of the economy – 1%.

The volume of investments in relation to nominal total surplus value makes up about 15-25%.

The volumes of investments in relation to total surplus value created in the region and its calculation per capita are also considered as significant variables for estimating investment activities. The volume of investments in relation to nominal total surplus value makes up 15-25%, while the amount of private direct investments per capita in the region made up 1 087 USD in 2015.

Energy, industry and tourism sectors are the fastest growing directions in the Ajara Region.

Based on the statistical information, the energy, tourism and industry sectors emerge as the fastest growing fields, the Ajara Finance Ministry says.

As reported, according to the 2015 preliminary indicators, FDI inflows marked 1 351 million USD, down 407.4 million USD compared to the 2014 final report.

The reporting period has recorded the following major investor countries: Azerbaijan (40.1%), the United Kingdom (14.1%) and the Netherlands (8.2%). The ratio of the transportation and communications sector in total FDI accounts for 44% and Tbilisi remains the most attractive region in Georgi for investors (81% ratio in total FDI).

March 28, 2016 #139

7

ECONO-MIX

Kvirikashvili

EFFECT The Georgian Business Confidence Index (BCI) gained 3 points on a [-100/100 scale]) due to a dramatic strengthening of business expectations from 16 points in the fourth quarter of 2015 to 38 index points in the first quarter of 2016. Since during this time Georgia did not experience any major changes in the macroeco-

nomic context, such a sharp advance in expectations can be best understood as a vote of confidence by the Georgian business community in Giorgi Kvirikashvili’s leadership. Indeed, the first months of Kvirikashvili’s term as Georgia’s PM were marked by a large number of pro-business initiatives targeting the Georgian tax

code and tax administration.

The Georgian government is developing proposals for very significant changes in a corporate taxation, abolition of VAT on imported capital goods, improvements in tax administration and insolvency regulation.

Business Confidence Index

GEORGIA THANKS DONORS FOR INVESTING 6 BILLION GEL IN 400 PROJECTS Georgia is thanking its international partners for donating more than 6 billion GEL to finance more than 400 projects throughout the country. In Tbilisi today Prime Minister Giorgi Kvirikashvili opened the Annual Donor Coordination Forum, also regarded as the Annual Development Partnership Forum, which brought together representatives from international organisations, donor countries and financial institutions from all over the world who had contributed financially to Georgia’s development.

MANUFACTURERS WILL GET SMALL LABORATORIES FOR MILK QUALITY CONTROL Milk producer cooperatives will get small laboratories for milk quality control.

The initiative is envisaged by the supporting project of agricultural cooperatives.

“The program enables cooperative to arrange milk collector points, moreover they will be delivered devices of milk quality control, which cost is from 40 thousand to 75 thousand of GEL. Today there are over 30 cooperatives.

This program will assist them not merely in collecting the milk and then supplying to the big producers, but also to produce dairy products themselves, including to start production of cheese”.

AYFB TO LAUNCH CAMPAIGN AGAINST ONLINE CREDITS The essence, forms and scales of online credit organizations may become a precondition for social unrest, the AYFB representatives noted. The current scales of online credit organizations take root in the current heavy social situation in Georgia, public unawareness and aggressive marketing campaign. Online credit organizations trade in unacceptably expansible loan products and in most cases the annual efficient interest rate reaches 1000%.

8

71%

INFOGRAPHICS of air pollution in Georgia is caused by car emissions. 80% of vehicles are small cars which have not been inspected since 2004. 73% of vehicles are 16 years old or older, which consume more fuel and cause more air pollution.

Most cars do not have a catalytic converter, which increases

March 28, 2016 #139

emissions 10 times for each car. Georgian fuel standard does not meet European standards.

Fuel quality is checked by importers, not by the State. Poor urban planning also promotes traffic congestion which increases air pollution.

Eco-driving habits could save drivers 20% on fuel and also help reduce air pollution.

Georgian Railway Subsidiary and LAM Company Sign Cooperation Memorandum

“

We are happy Trans Caucasus Terminals has become a member of Trans Caspian Consortium

Trans Caucasus Terminals, subsidiary of JSC Georgian Railway and LAM group signed a memorandum on intentions to foster integrating Georgia’s transportation potential into the world trade routes, through cooperation in the transportation field. Moreover, they will also jointly develop marine communication with Georgia, European and due European markets. „We are happy Trans Caucasus Terminals has become a member of Trans Caspian Consortium.

The consortium provides container transit from China to Georgia with the aim to distribute cargoes to various directions.

Besides our company, the consortium also unites Chinese, Azer-

’

”

baijani and Kazakh companies. I hope LAM group will be one of the companies to ensure marine services at the Black Sea in the direction of Turkey and other countries to ensure valuable transportation of cargoes to any destinations worldwide”, Trans Caucasus Terminals director Levan Sulaberidze said.

Over the past years Georgia has made huge advancements in the transportation field.

China-Georgia Silkroad creates additional chances in this respect.

LAM group, as a global transportation

company, plans to maximally use this opportunity thanks to partnership with Trans Caucasus Terminals and this factor will enable Georgia to expand its role in the world transportation field.

We are proud that we make contribution to this project”, Selim Makzum, executive of LAM group’s board of directors, noted.

As reported, JSC Georgian Railway owns a 100% stake in Trans Caucasus Terminals that was founded in 2009 to develop and manage container terminals in Tbilisi and Poti.

With 70-year experience LAM group provides marine and logistics services through its own international networks.

We will show the world Georgia is an attractive country

GEORGE WELTON Executive Director AmCham Georgia

Organization: JumpStart Georgia; Reporter: Tutana Kvaratskhelia (JumpStart Georgia) Designer: Irakli Chumburidze (JumpStart Georgia)

’

George Welton, Executive Director of the American Chamber of Commerce (AmCham) in Georgia is praising the Georgian Government’s effort to simplify the country’s Tax Code, assuring it will fasten economic growth in Georgia.

Welton believed amendments to the Tax Code will encourage offshore investors to reinvest in Georgia, which would lead to the creation of more local jobs.

It is very important that tax administration will also be simplified. As a result we will show to the world that Georgia is an attractive country for investors. I believe this initiative will

attract more Foreign Direct Investments in Georgia,” said Welton.

Georgia’s Finance Ministry showed us a good example of impressive cooperation with the private sector. I would also say thank you to the Ministry for taking into account our advice and postponing the terms of the enactment of new Tax Code law,” Welton said.

Georgia’s Finance Minister Nodar Khaduri announced the new Tax Code law would enter into force in January 2017 instead of July 2016, allowing businesses time to “better prepare” themselves for the new law.

March 28, 2016 #139

Dear reader, at this point CBW is representing the business startup of natural food Ltd “Soplidan” that is registered in the databases of NFA (National Food Agency), as a business operator, which makes it obligated to follow the rules of product inspection, transportation and storage. The information was provided by Natia Ninikelashvili who is one of the founders of the company.

NINO KUPARASHVILI

The Healthy Online Grocery Shop delivers food directly from the villages

9

STURT-UP

L

td. “Soplidan”owns the web - site (www.soplidan. ge) where it is possible to buy natural country products online, the customer will receive them home in case of ordering any product from the web-site.

The customer is able to pay fee directly by plastic card, cash when receiving the product on place.

The product can be purchased by local Georgian bank cards, as well as International plastic cards.

On the web site 70 sorts of products are presented with their prices. (Crude meat, cleaned poultry, dairy products, fruits, vegetables, etc.)

The company fulfills its reserves from the farmers from throughout Georgia and gets food directly from farmers. Thus, the company does not have its own production yet.

The web-site started its functioning from the 5th of October 2015. Consequently, it has been actively operating on the market for 6 months already.

The idea of this business has come just in case. Due to an ordinary housewife and a parent needs. Women having little babies permanently have this problem – what our children eat and what they feed them. Whether the food is new or whom they are made by. Natia, the company representative and her partner both are from Kakheti region and their family members were often sent them products from Kakheti. After that they decided to offer this service to other housewives and

mothers that would have faith in Georgian farmers. It should be pointed out that the services are comfortable and it saves a lot of time for women. Their customers are aware that the service standards of all the products are controlled by the National Food Agency.

Currently it is only possible to purchase the products on the web site; however, the company managers have a lot of plans to offer several technological innovations in near future.

The name was selected easily. They thought that the name should have been simple and easily understandable. Just one word would have been able to deliver their massage to the customers. The customers know they can buy natural healthy product at a reasonable price without any effort and at a minimum energy, and with maximum comfort.

It should be noted that they have already had quite a lot of customers. Their primary task is the customers’ confidence growth.

Their service is very comfortable for those people, who are at work all the day and come back home late and feel too tired, however they will be supplied with natural products. In addition, the company also has customers who order products for old parents. Thus they express their care in such way, along with saving time and energy.

The market determines the price of each product. They try not to overprice, however, branded packaging, delivery at home, of course increases prices

“

Our work popularizes Georgian agricultural products, which helps farmers to sell more and as a result produce more

”

of product and service.

The delivery scheme is as follows: delivery days are Monday, Wednesday and Friday.

A person who orders product from the web-site on Monday or Tuesday, the delivery takes place on Wednesday; In case the ordered products days are Wednesday or Thursday, the customer receives them on Friday; In case a person orders on Friday, Saturday or Sunday, the product is delivered on Monday.

If the amount of ordered food is more than 30 GEL, then the delivery fee is free from charge. If it is less than 30 GEL, then the value added up to 3 GEL. From April they plan to change this delivery service and it will be possible the customer to receive any ordered product daily.

Business efficiency and therefore profitability is determined by the user needs.

“At this stage, our customers need our services. In addition, our work popularizes Georgian agricultural products, which helps farmers to sell more and as a result produce more. The standards we set give farmers the motivation to produce good quality product, anyway the customer remains satisfied in any case.” – says Natia Ninikelashvili.

Their main objective currently is and it will be also in the future to offer high quality products and services to the customers. They will try and do their best to make customers be interested in their business and each family eat healthy and natural food.

10 Russia is the key export market of mineral waters Russia is the key export market of mineral waters.

According to official data, mineral waters of 12,028 million USD were sold at the foreign market through January – February of this year, Decline is 19,5% y-o-y.

Mineral waters are ranked as the 6th with 4,3%-share in the total export.

As for the markets, they are not very diversified. More than half of the export accounts for Russia.

Mineral waters of 6,74 million USD are exported in this country. The growth exceeds 1,17 million comparing to the previous year.

BUSINESS

March 28, 2016 #139

Suggestions for Beginner Businessmen All Mistakes should Be Analyzed

Export of spirit drinks is doubled Export of spirit drinks is increased twice. According to the official statistics, spirit drinks of 11,19 million USD have been exported through January - February of this year and the product is ranked as the 8th in the export basket. However, 4% of the total export accounts for spirit drinks. Index of the export has been 5,1 million in the same period of the previous year and held 1,6% of the export.

It should be noted, that export is increased in Russia as well as China.

Namely, alcohol beverages of 1,86 million USD have been exported in Russia through 2 months (2015 – 473,5 thousand).

Export is increased by 7,6 times in China and the figure totals to 117,8 thousand USD.

Rakia wants to invite textile manufacturers in Poti FIZ Administration of Poti Free Industrial Zone wants to invite textile manufacturers in the zone.

David Barker, director of FIZ has introduced to Osman Chalishkan, Secretary of International Investor Association.

It has been noted, that Poti FIZ is especially attractive for textile manufacturers, as there is a official school in Poti, where the staff is trained free of charge, including textile sector.

It should be noted, that numerous investors have opened plants in Georgia with the assistance of International Investor Association.

Textile products produced in Georgia keeps the leading positions in the export basket in Turkey. To note, 5,7 million USD of such type of products have been exported through January-February of this year.

Giorgi Mshvildadze, one of the founders of Tegeta Motors MARIAM KOPALIANI

I am a civil engineer by profession. I have graduated transportation and mechanical engineering faculty at the Georgian Technical University.

I found my first job place at TbilKalakProject. I used to design motorways. In that period specialists were referred to job places from universities. Since I graduated the university by the Red Diploma, I was first referred to the job place.

My first salary was 120 Rubles.

This was a good sum in that period, even more so for a young man.

My educational background business. In 1996 I joined the Tegeta Motors team and since then I have been working in this team.

I like Porsche vehicles very much.

I frequently drive this vehicle. I personally do not own a vehicle and use only company motorcar.

Jeep or sedan? I would not make such differentiation. I use both of them. Everything depends on spe-

cific situation. I drive a sedan for business meetings, in other cases I prefer a JEEP. I go to office every day, at half past of 9 in the morning. My office starts operation in this time.

Having got to the office, I first discuss the agenda. I preliminarily compose the weeklong agenda to determine what to do in this or that day. I always follow this agenda.

I would not work in the field that is not interesting for me and that I do not understand. I have received technical education and this field inspires me. Consequently, I do not have education in the humanities and I do not understand this field. I would not work in the field, where I lack for due knowledge. I suggest young people the same – they should follow the fields and specialties to which they incline and in which they show their best skills.

I would suggest beginner businessmen to analyze their mistakes. Every person makes mistakes, but we should analyze them to correct them. Business may be developed in this way. I would

suggest the beginner businessmen to learn analyzing mistakes.

A person should be ambitious and goal-oriented, but should not do anything for career.

The main thing in this life to be happy, to be glad seeing the new dawn. It is much misfortune, when a person finds this life useless.

I often travel for business affairs. I often leave for foreign countries for business meetings. Though, I would nowhere live outside of Georgia on permanent basis. Every person can spend a year or two outside of the homeland, but not on permanent basis. I have so many familiar and close persons in this country, I will never abandon them.

www.cbw.ge <<

Donors Finance More than 400 Projects in Georgia

<<

I appreciate all Georgian dishes, except for Khashi. I cannot endure this meal.

International Tourism Exhibition Exposes Georgia as the Best Wine Direction

<<

Budget for Funding Start-ups Allocates 30-35 mln GEL

Football is my favorite sport.

I like this sport since my childhood.

<<

5-star Hotel Pullman to Open in Axis Towers

As to my favorite club: I support all football clubs that show nice and interesting play.

<<

Foreign Citizens to Easier Register Businesses in Georgia

March 28, 2016 #139

HEALTHCARE

11

HumanityGeorgia Imports More Medications on the Market

A

ndrey Kuzma, director general of Humanity Georgia pharmaceutical company, noted that in the near future the company will import additionally 20 new medications.

Humanity Georgia keeps partnership relations with the market players. Almost all pharmacy networks main open to Humanity Georgia products.

“I hope this policy of openness will be maintained in the future too and no unacceptable forms of relationships such as artificial restriction or concealment of medications will take place in these networks.

Naturally, we provide active work with doctors and the whole society in this direction to make them aware of pharmacological properties of our medications to eradicate any ground for skepticism.

Our objective is to prove that highquality and efficient medication should not be necessarily expensive. Medications must be affordable to everyone”, Kuzma noted.

The Authorities are said to be assisting Humanity Georgia and your medications are registered faster and so on. What would you tell your opponents?

We follow the existing legislation.

The argument that our medications are registered faster points to professional operation of our team and this is the best appraisal of our team. This signifies that we respect the Georgian legislation and perfectly carry out the preparatory works for registration.

Our company maintains wonderful relations with the Health Ministry.

I assure you that the current Minister and his team are doing their best to improve many aspects in the health system and to make services and products affordable for the Georgian population without negative impact on medication quality.

The fact is that the Health Minister is the first official in Georgia and the whole Caucasus Region who have laid a foundation for forming favorable environment for lowering medication prices. Even currency volatility could not frustrate this process, Andrey Kuzma said.

In the near future we will import 200 new medications in addition; naturally these drugs will be sold at much affordable prices compared to their analogues. I am sure in the course of time Georgian citizens will genuinely make sure that medication prices have declined”, Andrey Kuzma says.

Medical Tourism in Georgia Could Become a Serious Accelerator of Health Economy Growth As the Partnership Fund has announced, when the tender is accomplished, three hospitals in Tbilisi will be governed according to the model that takes into account private and state partnership.

It is planned those clinics to be equipped with modern machinery and international standards to be implemented, where staff training and quality growth takes place.

It is interesting, how much it is possible medical tourism to develop in Georgia in the nearest future, and what is the situation today in terms of the patients outflow.

Paata Ratiani, who is an International expert of Medical Tourism, an Advisory board member of the World Association of Medical tourism, and official representative in Georgia, talks about this model.

There exists such consideration among medical tourism experts that the main trend of global health development is the creation of large clusters.

It is known that under this project the staff was trained, the hospitals were totally renovated and equipped with modern machineries. How is this fact reflected in the staff work and accordingly This process should be permanent that significantly improves healthcare services. The quality of medical services is very complex issue and it takes into account a lot of different components.

The number of patient going abroad for treatment continues growing. Unfortunately, the exact statistics do not exist. Additionally, it became very frequent visiting simple specialists abroad just for consultation. This indicates that the segment is becoming more and more massive. In my opinion, the situation is not expected to change meaningfully in the near future. In economically weak countries, reliable health care is unrealistic.

Therefore, the demand is strong and firm on high –quality medical services.

It is a cliché, that treatment in abroad is very expensive and luxury. Sometimes it is even possible to get high-quality medical services in high class hospitals in abroad in a cheaper way. However, the competition among hospitals is increasing, that significantly pushes down the prices. In my opinion the fact that hospitals will be equipped with high quality machineries will not reduce the outflow of patients from the country right away. It takes a very long times.

12

EVENT

March 28, 2016 #139

EXPOMED BATUMI 2016 The first international exhibition of “Medical tourism and equipment”

T

he exhibition Company “GEONET EXPO” is holding the first international exhibition of “Medical tourism and equipment” In City Batumi, in Hotel “Sheraton” on 14-16 April. The organization invites as local as foreign companies to participate in the exhibition. There on the exhibition will be presented the modern medical technologies, medical schools, dental clinics, pharmacies, and drug manufacturing companies, the modern hygienic and cosmetic care products, leading plastic surgery clinics and operating medical tourism companies.

The international exhibition “EXPO BATUMI 2016” will contribute the improvement of medical services in the region. The representatives of various leading medical clinics of different countries will be invited. During the exhibition will be held presentations, presentation of modern medical technologies, the agreements will be signed for the future cooperation and the bilateral meetings will be held. The participant companies in the exhibition are from the following countries: Georgia, Russia, Turkey, Ukraine, Azerbaijan, Armenia, Iran, and Poland.

The co-organizers of “EXPOMED BATUMI 2016” are: The government of Autonomous republic of Adjara, Health and social protection ministry of Autonomous republic of Adjara, City Batumi Hall, Trade- commerce chamber of Adjara, international investors association of Georgia, Media Support; _ Adjara TV and newspaper, “Adjara Business Week”.

„GEONET EXPO“ LTD www.geonetexpo.ge Bako str. N50, Batumi, Georgia E-mail: info@geonetexpo.ge

WORLD NEWS

March 28, 2016 #139

13

Quotes

“

Peace is not absence of conflict, it is the ability to handle conflict by peaceful means.

International Energy Agency executive says output freeze aims to build confidence in stabilising oil prices

Ronald Reagan

Opec and Russia oil production freeze is meaningless gesture, says IEA

Another Blow to Armenian Economy

A

M

deal among some Opec producers and Russia to freeze production is perhaps “meaningless” as Saudi Arabia is the only country with the ability to increase output, according to a senior International Energy Agency (IEA) executive.

Brent crude futures are up more than 50% from a 12-year low near $27 a barrel hit early this year, bouncing back after Russia and Opec’s Saudi Arabia, Venezuela and Qatar struck an agreement last month to keep output at January levels.

Qatar has invited all 13 members of the Organisation of the Petroleum Exporting Countries (Opec) and major non-Opec producers to Doha on 17 April for another round of talks to

widen the production freeze deal.

“Amongst the group of countries [participating in the meeting] that we’re aware of, only Saudi Arabia has any ability to increase its production,” said Neil Atkinson, head of the IEA’s oil industry and markets division, at an industry event.

“So a freeze on production is perhaps rather meaningless. It’s more some kind of gesture which perhaps is aimed … to build confidence that there will be stability in oil prices.”

The IEA, energy watchdog for the Organisation for Economic Cooperation and Development (OECD), expects the wide gap between supply and demand to narrow later this year, paving the way for an oil price recovery in 2017.

Azerbaijan’s Southern Gas Corridor Sells $1 bln Eurobond

A

zerbaijan’s Southern Gas Corridor Company printed its $1bn 10year bond on Thursday 80bp back of the sovereign curve, benefiting from an explicit state guarantee, Global Capital agency reported.

Initial price thoughts for the 10 year bond were released at 7% yield area on Thursday morning, but leads UniCredit, Citi and JP Morgan were unable to move pricing tighter before pricing in line with that level later in the day, said in report.

The bond was sold at 99.112 with a coupon of 6.875%. Demand was largely driven by investors in the UK and US. Azerbaijani government held a bond roadshow for the Southern Gas Corridor on international market in March 10-16 at main

world financial centers – London, New-York and Boston.

Three manager banks, namely, Citibank, JP Morgan, and Unicredit have been chosen for the bond issuance. Fitch Ratings has assigned CJSC Southern Gas Corridor’s (SGC) senior unsecured Eurobonds a ‘BB+(EXP)’ expected foreign currency long-term rating.

The Southern Gas Corridor project’s (SGC) net financial needs for operations and capex will be close to $8.4 billion in 2016-2019, said the message of the international ratings agency Fitch Ratings The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.

”

oody’s Investors Service has downgraded Armenia’s long-term issuer and senior unsecured debt ratings to B1 from Ba3, which is another blow to the country’s economy and investment climate. “Whether we like it or not, this is another step back,” the economist Vardan Bostanjyan told Lragir.am.

Moody’s has changed the outlook to stable from negative. B1 means a non-investment rating.

Vardan Bostanjyan says such ratings by such organizations describe the investment climate. “Of course, besides the investment policy there are other components too but the investment component goes in the first place. In fact this shows, as in a mirror, how attractive a country is for investments. In this regard, in the Republic of Armenia, as we already know, statistics reveal, the investment activities are vulnerable. As such, no major or desirable investment projects are being implemented now. Accordingly, a lot of organizations, including Moody’s, could downgrade our rating,” the economist says.

Turkey imports LNG from US Turkey has for the first time imported liquefied natural gas (LNG) from the US in 2016, said the message from Turkey’s Energy Market Regulatory Authority (EMRA).

The country has imported 83 million cubic meters of LNG, which accounts for 7.15 percent of the country’s LNG consumption.

Turkey imported 437 million cubic meters of liquefied natural gas from Qatar, 468 million cubic meters - from Algeria and 171 million cubic meters - from Nigeria in the first quarter of 2016, according to EMRA’s message.

Ankara has agreements with Algeria and Nigeria for supplying 4.4 billion and 1.2 billion cubic meters of liquefied natural gas per year, respectively.

Iran’s Foreign Minister Mohammad Javad Zarif joined his Turkish hosts in Istanbul, in condemning a suicide bombing by suspected Kurdish militants in a main shopping district that killed five people.

Iran’s Zarif discusses business, Syria on Turkey visit

I

ran’s Foreign Minister Mohammad Javad Zarif joined his Turkish hosts in Istanbul on Saturday in condemning a suicide bombing by suspected Kurdish militants in a main shopping district that killed five people.

Zarif, on a visit to bolster bilateral trade and discuss political differences over the war in neighboring Syria, said the bombing - which also injured 36 people - “displays the ugly face of terrorism”.

Iran has been a strong strategic ally of Syrian President Bashar alAssad since the start of the uprising against him, while Turkey has been one of his fiercest critics, supporting his opponents and giving refuge to rebel fighters.

While Ankara and Tehran remain divided over the conflict in Syria, Zarif and his Turkish counterpart Mevlut Cavusoglu said both sides wanted to mend a relationship that could help establishment of peace and stability in the Middle East.

Turkey’s foreign ministry has said the aim of the talks during Zarif’s visit will be “current regional and international developments” as well as relations between the two countries.

Zarif suggested business would be high on the agenda. “We are seeking the best possible level of economic cooperation with Turkey after the nuclear deal,” he told reporters in Istanbul.

After the lifting of international sanctions this year following a deal with Western powers to curb its nuclear program, Iran has become the biggest economy to rejoin the global trading system since the Soviet Union broke up more than two decades ago.

Gains by moderate allies of pragmatist President Hassan Rouhani in Iran’s last month crucial elections have raised hopes for boosting foreign investment in Iran, a country with 80 million people and some of the world’s biggest oil and gas reserves.

“Iran and Turkey enjoy many commonalities ... The leaders of Iran and Turkey seriously want to further develop economic ties,” Zarif told Iran’s state news agency IRNA in Istanbul.

“We face common regional threats and of course have different views regarding some issues that should be resolved through dialogue and negotiations.”

14

PUBLICITY

March 28, 2016 #139

March 28, 2016 #139

Embassy United States of America Embassy 11 Balanchivadze St., Dighomi Dstr., Tbilisi Tel: 27-70-00, 53-23-34 E-mail: tbilisivisa@state.gov; askconsultbilisi@state.gov United Kingdom of Great Britain and Northern Ireland Embassy 51 Krtsanisi Str., Tbilisi, Tel: 227-47-47 E-mail: british.embassy.tbilisi@fco.gov.uk Republic of France Embassy 49, Krtsanisi Str. Tbilisi, Tel: 272 14 90 E-mail: ambafrance@access.sanet.ge Web-site: www.ambafrance-ge.org Federal Republic of Germany Embassy 20 Telavi St. Tbilisi Tel: 44 73 00, Fax: 44 73 64 Italian RepublicEmbassy 3a Chitadze St, Tbilisi, Tel: 299-64-18, 292-14-62, 292-18-54 E-mail: embassy.tbilisi@esteri.it Republic of Estonia Embassy 4 Likhauri St., Tbilisi, Tel: 236-51-40 E-mail: tbilisisaatkond@mfa.ee Republic of Lithuania Embassy 25 Tengiz Abuladze St, Tbilisi Tel: 291-29-33 E-mail: amb.ge@urm.lt Republic of Latvia Embassy 16 Akhmeta Str., Avlabari, 0144 Tbilisi.

E-mail: embassy.georgia@mfa.gov.lv Greece Republic Embassy 37. Tabidze St. Tbilisi Tel: 91 49 70, 91 49 71, 91 49 72 Czech RepublicEmbassy 37 Chavchavadze St. Tbilisi ;Tel: 291-67-40/41/42 E-mail: czechembassy@gol.ge Web-sait: www.mzv.cz Japan Embassy 7 Krtsanisi St. Tbilisi Tel: +995 32 2 75 21 11, Fax: +995 32 2 75 21 20 Kingdom of Sweden Embassy 15 Kipshidze St. Tbilisi Tel: +995 32 2 55 03 20 , Fax: +995 32 2 22 48 90 Kingdom of the Netherlands Embassy 20 Telavi St. Tbilisi Tel: 27 62 00, Fax: 27 62 32 People’s Republic of China Embassy 52 Barnov St. Tbilisi Tel: 225-22-86, 225-21-75, 225-26-70 E-mail: zhangling@access.sanet.ge Republic of Bulgaria Embassy 15 Gorgasali Exit, 0105 Tbilisi, Georgia Tel: +995 32 291 01 94; +995 32 291 01 95 Fax: +99 532 291 02 70 Republic of Hungary Embassy 83 Lvovi Street, Tbilisi Tel: 39 90 08; E-mail: hunembtbs@gmail.com State of Israel Embassy 61 Agmashenebeli Ave. Tbilisi Tel: 95 17 09, 94 27 05 Embassy of Swiss Confederation’s Russian Federation Interests Section Embassy 51 Chavchavadze Av., Tbilisi Tel: 291-26-45, 291-24-06, 225-28-03 E-mail: RussianEmbassy@Caucasus.net Ukraine Embassy 75, Oniashvili St., Tbilisi Tel: 231-11-61, 231-12-02, 231-14-54 E-mail: ukraina_pu@wanex.net; emb_ge@mfa.gov.ua Consular Agency: 71, Melikishvili St., Batumi Tel: (8-88-222) 3-16-00/ 3-14-78 Republic of Turkey Embassy 35 Chavchavadze Ave., Tbilisi Tel: 225-20-72/73/74/76 embassy.tbilisi@mfa.gov.tr Consulate General in Batumi 9 Ninoshvili Street, Batumi Tel: 422 25 58 00 consulate.batumi@mfa.gov.tr Republic of Azerbaijan Embassy Kipshidze II-bl . N1., Tbilisi Tel: 225-26-39, 225-35-26/27/28 E-mail: tbilisi@mission.mfa.gov.az Address: Dumbadze str. 14, Batumi Tel: 222-7-67-00; Fax: 222-7-34-43 Republic of Armenia Embassy 4 Tetelashvili St. Tbilisi Tel: 95-94-43, 95-17-23, 95-44-08 E-mail: armemb@caucasus.net Web: www.armenianembassy.ge Consulate General, Batumi Address: Batumi, Gogebashvili str. 32, Apt. 16 Kingdom of Spain Embassy Rustaveli Ave. 24, I floor, Tbilisi Tel: 230-54-64 E-mail: emb.tiflis@maec.esRomania Embassy

15

TBILISI GUIDE 7 Kushitashvili St., Tbilisi Tel: 38-53-10; 25-00-98/97 E-mail: ambasada@caucasus.net Republic of Poland Embassy 19 Brothers Zubalashvili St., Tbilisi Tel: 292-03-98 Email:tbilisi.amb.sekretariat@msz.gov.pl Web-site: www.tbilisi.polemb.net Republic of Iraq Embassy Kobuleti str. 16, Tbilisi Tel: 291 35 96; 229 07 93 E-mail: iraqiageoemb@yahoo.com Federative Republic of Brazil Embassy Chanturia street 6/2, Tbilisi Tel.: +995-32-293-2419 Fax.: +995-32-293-2416 Islamic Republic of Iran Embassy 80, I.Chavchavadze St. Tbilisi, Tel: 291-36-56, 291-36-58, 291-36-59, 291-36-60; Fax: 291-36-28 E-mail: iranemb@geo.net.ge United Nations Office Address: 9 Eristavi St. Tbilisi Tel: 225-11-26/28, 225-11-29/31 Fax: 225-02-71/72 E-mail: registry.geo@undp.org Web-site: www.undp.org International Monetary Fund Office Address : 4 Freedom Sq., GMT Plaza, Tbilisi Tel: 292-04-32/33/34 E-mail: kdanelia@imf.org Web-site: www.imf.ge Asian Development Bank Georgian Resident Mission Address: 1, G. Tabidze Street

Freedom Square 0114 Tbilisi, Georgia Tel: +995 32 225 06 19 E-mail: adbgrm@adb.org; Web-site: www.adb.org World Bank Office Address : 5a Chavchavadze Av., lane-I, Tbilisi, Georgia ; Tel: 291-30-96, 291-26-89/59 Web-site: www.worldbank.org.ge Regional Office of European Bank for Reconstruction and Development Address: 6 Marjanishvili St. Tbilisi Tel: 244 74 00, 292 05 13, 292 05 14 Web-site: www.ebrd.com Representation of the Council of Europe in Georgia Address : 26 Br. Kakabadze, Tbilisi Tel: 995 32 291 38 70/71/72/73 Fax: 995 32 291 38 74 Web-site: www.coe.ge Embassy of the Slovak Republic Address: Chancery: 85 Irakli Abashidze St. Tbilisi, 0162 Georgia Consular Office: 38 Nino Chkheidze St. Tbilisi, 0102 Georgia Phone: 2 222 4437, 2 296 1913 e-mail: emb.tbilisi@mzv.sk

Hotels in Georgia TBILISI MARRIOTT Tbilisi , 13 Rustaveli Ave. Tel: 77 92 00, www.marriott.com COURTYARD MARRIOTT Tbilisi , 4 Freedom Sq. Tel: 77 91 00 www.marriott.com RADISSON BLU HOTEL, TBILISI Rose Revolution Square 1 0108, Tbilisi Tel: +995 32 402200 radissonblu.com/hotel-tbilisi RADISSON BLU HOTEL, BATUMI Ninoshvili Str. 1, 6000 Bat’umi, Georgia Tel: 8 422255555 http://radissonblu.com/hotel-batumi SHERATON METECHI PALACE Tbilisi , 20 Telavi St. Tel: 77 20 20, www.starwoodhotels.com SHERATON BATUMI 28 Rustaveli Street • Batumi Tel: (995)(422) 229000 www.sheratonbatumi.com HOLIDAY INN TBILISI Business hotel Addr: 1, 26 May Square Tel: +995 32 230 00 99 E-mail: info@hi-tbilisi.com Website: http://www.hi-tbilisi.com BETSY’S HOTEL With Marvellous Tbilisi Views Addr: 32/34 Makashvili St. Tbilisi Tel: +995 32 293 14 04; +995 32 292 39 96 Fax: +995 32 99 93 11 E-mail: info@betsyshotel.com Website: http://www.betsyshotel.com

Restaurants CORNER HOUSE Tbilisi, I. Chavchavadze ave. 10, Tel: 0322 47 00 49; Email: contact@cornerhouse.ge RESTAURANT BARAKONI Restaurant with healthy food.

Georgian-European Cuisine Agmashenebeli Alley 13th Phone: 555 77 33 77 www.barakoni.com CHARDIN 12 Tbilisi , 12 Chardin St. , Tel: 92 32 38 CAFE 78 Best of the East and the West Lado Asatiani 33, SOLOLAKI 032 2305785; 574736290 BREAD HOUSE Tbilisi , 7 Gorgasali St. , Tel: 30 30 30 BUFETTI - ITALIAN RESTAURANT Tbilisi , 31 I. Abashidze St. , Tel: 22 49 61 DZVELI SAKHLI Tbilisi , 3 Right embankment , Tel: 92 34 97, 36 53 65, Fax: 98 27 81 IN THE SHADOW OF METEKHI Tbilisi , 29a Tsamebuli Ave. , Tel: 77 93 83, Fax: 77 93 83 SAKURA - JAPANESE RESTAURANT Tbilisi , 29 I. Abashidze St. , Tel: 29 31 08, Fax: 29 31 08 SIANGAN - CHINESE RESTAURANT Tbilisi , 41 Peking St , Tel: 37 96 88 VERA STEAK HOUSE Tbilisi , 37a Kostava St , Tel: 98 37 67 BELLE DE JOUR 29 I. Abashidze str, Tbilisi; Tel: (+995 32) 230 30 30 VONG 31 I. Abashidze str, Tbilisi Tel: (+995 32) 230 30 30 BRASSERIE L’EXPRESS 14 Chardin str, Tbilisi Tel: (+995 32) 230 30 30 TWO SIDE PARTY CLUB 7 Bambis Rigi, Tbilisi Tel: (+995 32) 230 30 30

Cinemas AKHMETELI Tbilisi. “Akhmeteli” Subway Station Tel: 58 66 69 AMIRANI Tbilisi. 36 Kostava St. Tel: 99 99 55, RUSTAVELI Tbilisi. 5 Rustaveli Ave. Tel: 92 03 57, 92 02 85, SAKARTVELO Tbilisi. 2/9 Guramishvili Ave. Tel: 8 322308080,

SH. RUSTAVELI STATE THEATRE Tbilisi. 17 Rustaveli Ave. Tel: 93 65 83, Fax: 99 63 73 TBILISI STATE MARIONETTE THEATRE Tbilisi. 26 Shavteli St. Tel: 98 65 89, Fax: 98 65 89 Z. PALIASHVILI TBILISI STATE THEATRE OF OPERA AND BALLET Tbilisi. 25 Rustaveli Ave. Tel: 98 32 49, Fax: 98 32 50

Galleries ART GALLERY LINE Tbilisi. 44 Leselidze St. BAIA GALLERY Tbilisi. 10 Chardin St. Tel: 75 45 10 GALLERY Tbilisi. 12 Erekle II St. Tel: 93 12 89

Real Estate International Real Estate Company (IREC) Tbilisi. 9 P. Aslanidi St. Tel: +995 32 238 058 Mob: 599 95 76 71 Email: Info@irec.ge www.irec.ge

GSS Car rental offers a convenient service for those who are interested in renting car in Georgia. Rental fleet mainly consist of Japanese made SUV’s, the company has various models of cars including sedans and minivans which are in good technical condition.

Contact information: Email: info@gsservices.ge.

Address: Shalva Dadiani 10

Akhvledianis Khevi N13, Tbilisi, GE. +995322958377; +995599265432

Theatres A. GRIBOEDOV RUSSIAN STATE DRAMA THEATRE Tbilisi. 2 Rustaveli Ave. Tel: 93 58 11, Fax: 93 31 15 INDEPENDENT THEATRE Tbilisi. 2 Rustaveli Ave. Tel: 98 58 21, Fax: 93 31 15 K. MARJANISHVILI STATE ACADEMIC THEATRE Tbilisi. 8 Marjanishvili St. Tel: 95 35 82, Fax: 95 40 01 M. TUMANISHVILI CINEMA ACTORS THEATRE Tbilisi. 164 Agmashenebeli Ave. Tel: 35 31 52, 34 28 99, Fax: 35 01 94 METEKHI – THEATRE OF GEORGIAN NATIONAL BALLET Tbilisi. 69 Balanchivadze St. Tel: (99) 20 22 10 MUSIC AND DRAMATIC STATE THEATRE Tbilisi. 182 Agmashenebeli Ave. Tel: 34 80 90, Fax: 34 80 90 NABADI - GEORGIAN FOLKLORE THEATRE Tbilisi. 19 Rustaveli Ave. Tel: 98 99 91 S. AKHMETELI STATE DRAMATIC THEATRE Tbilisi. 8 I. Vekua St. Tel: 62 59 73

THE BEST GEORGIAN HONEY OF CHESTNUTS,ACACIA AND LIME FLOWERS FROM THE VERY HART OF ADJARA MATCHAKHELA GORGE IN THE NETWORK OF GOODWILL, NIKORA AND SMART

16

PUBLICITY

March 28, 2016 #139