Caucasian Business Week #210 by Caucasian Business Week

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October 2, 2017 #210

October 2, 2017, Issue 210 - www.cbw.ge

Econo-mix Georgia’s Economic Competitiveness Shrink

Company Nenskra HPP Construction Works will Be Accelerated

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Tamar Dumbadze: Today PR is a Developing Field in Georgia

Pg. 7

Pg. 8

How Easily Large-Scale Businesses Obtain So-called Cheap Money?

Record Dividends of Excise Tax Growth Growth in excise tax is an important instrument that is justified by state funding principle and specific goals. Over the past years, Georgia’s economic growth pace has declined and it has become necessary to implement efficient approaches of economic policy. To this end, in the shortest period, «without much efforts and research», the Estonian model of profits tax was introduced. This model, on condition of profits tax system reformation, enabled companies to maintain financial resources (2.5bln GEL in 4 years). Pg. 7

Fuel Importers Continue Deceiving Society Association of Young Financiers and Businessmen (AYFB) continue fuel market research, due to high public interest, extreme hike in fuel prices and international market developments. AYFB vice president Paata Bairakhtari noted that global stock exchanges genuinely record price surge tendencies, however, Georgian market tendencies are absolutely inadequate to international realities, he said. Pg.4

Georgian Artists Exhibit at International Art Biennale BeijingThe Silk Road and World’a Civilization 7th International Art Biennale Beijing is themed The Silk Road and World’s Civilization. The opening was held on October 24 and exhibition will run through October 15 in China’s capital.

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It holds at Beijing’s National Art Museum, participated by artists from 102 countries. 15 contemporary Georgian artists have exhibited their work at Biennale Art Exhibition and expressed themselves through various sculptures and paintings for the first time. Artists are featured by Project ArtBeat and T.G. Nili Art Space. Pg. 9

Newsroom

2 Government

The Govt has Developed a Framework for Cooperation between Public and Private Sectors

The Prime Minister says that Georgia will be able to involve more private companies in the process of infrastructure modernization.

Government Completes Buying off Lands in Anaklia

Government of Georgia has paid 56 047 307.08 GEL for buying off privately owned land plots in Anaklia for the purpose of construction of Anaklia deepwater seaport.

economy

ADB Upgrades Economic Growth Outlook for Georgia

According to the new report, ADB forecasts 4.2% upturn in Georgian economy in 2017 and 4.5% upturn in 2018. The previous forecast was 3.8% and 4.5% respectively.

Citizens of Georgia Spend 44% of Income on Food

According to the latest data of the statistical service, on average Georgian citizens spend 44% of their income on food that is a very high figure that it is still very far from the middleincome country.

banking

Total Assets of Georgian Commercial Banks Increased by 1.0 Bln GEL

In August 2017, compared to the previous month, the total assets of Georgian commercial banks increased (in current prices) by 1.0 billion GEL (or by 3.2 percent) and constituted 31.5 billion GEL.

Current Tendencies Of Bank Deposits

The total volume of non-bank deposits in the country’s banking sector increased by 5.0 percent, or by 840.7 million GEL, compared to August 1, 2017 and reached 17.8 billion GEL by September 1, 2017.

business

Vine-Growers Earnings Exceed 100 Million GEL

At this stage, companies have processed about 90 thousand tons of grapes, including 42 000 tons of Rkatsiteli, 41 thousand tons of Saperavi, 2.8 thousand tons of Kakhetian green and other varieties.

Farmers’ Council Establishes in Georgia

the Farmers Council aims to extend the GFA communication network at the municipal level, and to carry out activities for determination and timely elimination of the problems faced by the agricultural sector in the regions.

company

Bosch’s Sales will Reach 17 mln in Georgia

Sales growth of 2016 in Georgia exceeds 3 times to the total rate (+ 3.6%, € 73.60 billion). As of incomplete statistics of 2017, the growth is + 10% and company expects to finish the year with a 2-digit index.

October 2, 2017 #210

Gov’t confirms 2017-2018 anti-corruption strategy

he Government of Georgia has adopted an 2017-2018 anticorruption strategy which is focused on prevention and higher level transparency in state institutions. A statement released by the Ministry of Justice reads that Georgia has achieved the biggest success against corruption in the Eastern Europe and is distinguished by a low level of corruption among the European countries. Georgia’s anti-corruption efforts were one of the key reasons the country became the chair of the Open Government Partnership,” the Ministry statement said. Through the new strategy Georgia has moved to a new stage in combating corruption. Now, like in democratic European nations, the state is

focused on ensuring high-level of transparency and accountability of the state institutions, availability of information, increasing of the public involvement in a decision-making process and establishing more refined mechanism to prevent corruption,” the Justice Ministry reported. The Ministry announced the anti-corruption strategy and an action plan were elaborated by the interagency coordinative council, with the involvement of 38 state bodies, 14 NGOs and three business representatives. The new strategy covers 16 priority topics, more than 60 events and about 200 activities,” the statement reads. The goals of the new strategy are: The establishment of a fair salary system in the public service. The elaboration of a communi-

cation strategy about corruption issues with the public. The establishment of a transparent salary and bonus systems for prosecutors, as well as refining the articles referring to ethics and interest conflicts in relation of judges and prosecutors. The implementation of an electronic program of judicial disciplinary proceedings and solving the issues of salary supplements and bonuses for judges. The adoption of the law on freedom of information. The refining of an administrative mechanism to make statecovered health programs more transparent. The empowerment of Civil Advisers’ Councils in municipalities. The improvement of control mechanisms for infrastructural projects and others.

The IMF: Fiscal Reports Do Not Provide a Complete Picture of General Government Activity

he IMF advises government to evaluate annual consolidated financial statements by independent audit, – Fiscal Transparency Evaluation report for Georgia prepared by The International Monetary Fund (IMF) notes. Georgia has taken important steps to enhance fiscal transparency over the past decade. Fiscal reports have become more comprehensive and timely, fiscal forecasts and budgets have become more forwardlooking and policy-orientated, and disclosure of fiscal risks has improved substantially. At the same time, the evaluation highlights several areas where Georgia’s fiscal transparency practices could be further improved. In particular: fiscal reports and statistics do not provide a complete picture of general government activity; central government annual consolidated financial statements are not subject to independent audit; there is no reporting on compliance with fiscal rules; and mechanisms to

BUSINESS WEEK caucasus

The Editorial Board Follows Press Freedom Principles Publisher: LLC Caucasian Business Week - CBW Address: Aleksidze Street 1 Director: Levan Beglarishvili Sales: Mob: +995 558 36 61 07 WWW.CBW.GE Email: caucasianbusiness@gmail.com

mitigate fiscal risks related to public corporations and powerpurchase agreements are not yet fully developed. However, the IMF notes that efforts are underway to deal with these and other shortcoming. Key recommendations of this report to strengthen fiscal transparency further include: Expanding the coverage of the key fiscal reports and the government finance statistics to consolidate the own-funded activities of legal entities of public law; Producing annual consolidated general government sector fiscal reports and enhancing the accuracy and coverage of balance sheet information; Subjecting the annual consolidated central government financial statements to independent audit as soon as practicable; Publishing information on the revenue foregone by tax expenditures; Reviewing the fiscal rules and regularly reporting on compliance with those rules; Providing more explanation of

the macroeconomic forecasts and reconciling new macroeconomic and fiscal forecasts with prior forecasts; Tightening the criteria for drawing on budget contingency provisions; and Strengthening controls on lending and equity injections to public corporations and placing limits on liabilities from public private partnerships. The Georgian authorities welcomed the report’s findings and its publication. The implementation of reforms planned by the authorities, and recommended in this report, will result in further improvements in fiscal transparency in Georgia in the coming years. Reflecting these efforts, the report found that many elements of sound fiscal transparency practices are in place in Georgia. Assessed against the standards of the Fiscal Transparency Code, the report found that Georgia meets the good or advanced level practice on 18 of 36 principles, and the basic standard on a further 10 principles.

Editor: Nutsa Galumashvili. Mobile phone: 595 380382 Reporters: Nina Gomarteli; Mariam Kopaliani; Merab Janiashvili Technical Assistant: Giorgi Kheladze;

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

October 2, 2017 #210

publicity

econo-mix

Georgia’s Economic Competitiveness Shrink

Paata Bairakhtari AYFB vice president

Georgia Loses 8 Positions in Global Competitiveness Index

Fuel Importers Continue Deceiving Society

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Merab Janiashvili Economic Analyst

However, existing gaps in statistics do not give precise picture and consequently due policy is not carried out. According to current conditions, 80% of population belong to poor class, due to ranking of their revenues. For economic and democratic development of the country, it is necessary that a major part of the society constitute middle class.

orld Economic Forum (WEF) has published the 2017-2018 report for Global Competitiveness Index. The document explores competitive capacity of 137 countries and Georgia ranks 67th among them. According to the 2016-2017 report, Georgia ranked 59th, that is the country has lost 8 positions. Georgia’s total score has not changed and remains 4.3, but the country lost positions, because other countries improved their scores. Global Competitiveness Index comprises more than 100 criteria and a major part of them has worsened in Georgia. The chart comprises the criteria that have considerably worsened or improved. In general, Georgia is less competitive in terms of higher education, technologies, innovations and market size. Georgia’s positions in the index criteria have worsened in most cases. At the same time, the country has improved several criteria anyway. For example, property rights – 46th position (3 positions lost); court independence – 87th position (24 positions lost); favoritism in government decisions – 57th place (12 positions lost); government transparency – 46th place (3 positions lost); balanced budget – 40th place (16 positions lost); government debt – 59th place (3 positions lost); initial education quality - 106th place (13 positions lost); level of taxes – 8th place (1 position improved); Inflation – 1 (+79); crediting rating – 81 (+2); internetization at public schools – 68 (+5); antitrust legislation – 112 (+2); workforce qualification – 125th place (unchanged). As to Georgia’s total position, it should be noted that the country is demonstrating improvement tendencies since 2012. For

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Association of Young Financiers and Businessmen (AYFB) continue fuel market research, due to high public interest, extreme hike in fuel prices and international market developments. AYFB vice president Paata Bairakhtari noted that global stock exchanges genuinely record price surge tendencies, however, Georgian market tendencies are absolutely inadequate to international realities, he said. «Chronological analysis of the developments shows that even a slight change in crude oil prices per barrel have immediately corrected retail prices in Georgia, while changes in stock exchange prices needs a certain period to affect the Platts prices, nothing to say about retail network. If we go in details, companies corrected tariffs for the second time at the beginning of September, when global prices on crude oil had risen by 4%, but in Georgia fuel prices had surged immediately by 7%. However, crude oil price tendency and the Platts trend slightly differ from each other. And Georgian fuel importers mainly refer to this difference. Therefore, for more precision, we have calculated the last tendencies due to the Platts prices. According to the current reports, price of one ton of petrol is 578 USD. If we follow the current exchange rate, price of a ton of petrol is 1433 GEL. Naturally, increased excise tax, VAT and transportation expenditures are added to this amount and these tariffs are different for each company. Taking into account these factors, today wholesale price for a liter of petrol is 1.74 GEL, while in retail sector the price of a liter of petrol stands at 2.45 GEL. Naturally, in retail sector fuel importers take additional costs, but it is unreasonable to justify 0.71 GEL difference between retail and wholesale prices by any additional expenditures. As to future tendencies, if we observe the last tendencies on stock exchanges, we will see that healthy trades were recorded on the market and the growth trend appeared for only half a month, as a result of natural disaster in the USA, when 15 oil refineries suspended operation and oil processing declined by about 20%. The natural disaster has also significantly affected Mexican Gulf. As a result, oil extraction declined by about 25%. Naturally this fact has affected oil price, but after 2012 the USA opened its strategic reserves for the first time and supplied 500 000 barrels of oil to the market. As a result, market prices ceased rising. Statement by President of Turkey Recep Tayyip Erdogan has also made important influence on the market. Namely, the President of Turkey threatened to stop oil transportation from North Iraq in case of Kurdish referendum on independence. . This statement immediately affected international oil prices. However, despite this circumstance, it is expected that in midterm period oil prices growth tendency will not be maintained», Bairakhtari said.

October 2, 2017 #210

example, our country ranked 88th in Global Competitiveness Index in 2011-2012, while the country advanced to the 59th place in the 2016 rating, but lost 8 positions in 2017. According to the index, Georgia records the worst positions in the field of innovations and ranks 118th (down from 116th place of 2016). Low level of innovations is related to very low research indicator of companies (R&D), small amount of money spent by universities on research works and a small number of engineers and researchers in the country. Georgia’s rating score in the field of innovations is 2.8. According to the WEF report, Georgia’s key challenge consists in strengthening institutions, improving education level and growing labor market efficiency. It should be noted that, according to the WEF report, , unqualified workforce remains the key challenge for doing business in Georgia. Access to financial resources and inflation share second and third positions. (table 1) According to the report, among 137 countries Switzerland, the USA, Singapore, Netherlands, Germany, Hong Kong and Sweden have the most competitive economies, while Yemen, Mozambique, Chad and Liberia have the least competitive economies. World Economic Forum started publishing the global competitiveness index in 2005. The report considers the competitiveness as a combination of institutions, policy and other factors that determine the level of productivity of countries. And the level of productivity preconditions the level of profits raised from investments. This is a key driving force of economic growth. Therefore, the economy is considered to be competitive if it grows at high paces in the course of time.

“We need a framework for cooperation of international standards between private and public sectors in order to attract players with high reputation and quality in the country, as they need not only to be contractors, but also investors in infrastructural projects. On the one hand, this will improve the quality of implementation of infrastructural projects; while on the other – the investment environment of the country, which will make it more attractive to private companies and on the third hand – this is important to discharge the state sovereign balance, i.e. budgetary expenditures. We will definitely need to expand the state budget for the implementation of larger scale projects and maximally involve private companies in the implementation of important infrastructure projects”.

Giorgi Kvirikashvili Georgian Prime Minister

October 2, 2017 #210

publicity

economy

“Our banks prefer to work in a simple way. Foreign banks compete with each other and apply various mechanisms to develop various new products for clients, while our commercial banks are not interested in this issue. In Georgia two commercial banks control 70% of the bank sector, Consequently, They do not want to attain competitive advantage”.

How Easily Large-Scale Businesses Obtain So-called Cheap Money?

ank loan’s interest rate is widely discussed in all countries, because it determines capital attainability. In Georgia it is frequently said that international finance institutions issue much cheaper loans with simpler conditions, as compared to Georgia-based commercial banks. Businessman Temur Chkonia also raised this issue several days ago. The businessman noted: “The time has come that major businesses with good auditor conclusion enter foreign financial markets and not be confined by only domestic commercial banks”. It is very difficult to draw money from foreign finance institutions, however, major business will need additional resources for development and Georgian companies should not face problems with drawing foreign loans. As to Georgian commercial banks, they will be developed in parallel regime. Georgia follows European integration policy. The country has joined the EU free trade regime, obtained visa free regime with Europe. We have discussed all the issues that connect

us with Europe. There are financial systems in Europe, which should not be missed, Chkonia noted. “Following the European Integration policy, besides sightseeing, there are also financial resources in Europe. Besides European knowledge, culture, democracy and European court system, there are financial organizations that we are afraid of for some reasons. If we consider ourselves to be a part of Europe, then we should become a part of f Europe’s financial system too and we should be able to participate in this financial system”, Chkonia noted. European banks demand transparency, proper financial audit, positive history, like Georgian commercial banks, Chkonia added. “The difference is that foreign financial institutions have longer experience historically and nobody should be angry about this. The structure of issuing financial resources is also different, as well as payment conditions, low interest rates”, Chkonia said.

October 2, 2017 #210

The Caucasus Business Week (CBW) has applied to Georgian businessmen to clarify whether Georgian major business has entered international finance markets, whether they easily draw the so-called cheap money and what obstacles they have to overcome. The inquiry has clarified that a part of them cooperates with foreign commercial banks without problems, while another part fails to attain foreign financial institutions. Archil Jakeli, founder of Iveroni development company, says that he had not tried to draw loans from foreign financial institutions, however, he asserts that Georgian commercial banks do not issue guarantees in similar cases. Georgia-based commercial banks do not want that business sector draw financial resources from foreign financial institutions, he said. «I have never applied to international financial institutions, but they need guarantees from Georgia-based commercial banks and this is a very difficult aspect. Our banks follow their own interests. Domestic commercial banks make the same in practice, they borrow cheaper resources with low interest rates from international financial institutions and they reissue the borrowed loans at higher interest rates», Jakeli said. Zurab Margvelashvili, founder of Tbilvino winemaking company, noted that the company has been cooperating with IFC since 2011. If business entity is transparent, healthy and valuable, both Georgian and foreign financial organizations cooperate with it without problems. Tbilvino has signed two credit agreements with IFC since 2011 and the projects are being implemented very successfully. IFC has lent low interest rate loans, Margvelashvili noted. ««I believe Georgia-based commercial banks are strong financial structures. Today Georgia has comparatively high risks and the resources taken by Georgian banks are expensive», he added. After Georgian business sector moves to international financial markets, Georgian commercial banks will try to issue loans with lower interest rates. As a result, Georgian companies will receive better conditions from foreign or Georgian commercial banks thanks to healthy competition, he said. International financial institutions provide standards that must be satisfied by all companies, including Georgian companies, Margvelashvili noted. «This is related to financial indicators, financial turnover. There are several other requirements, environment protection, labor safety. Financial institution does not pay much attention to this aspect», Margvelashvili said. Bezhan Tsakadze, founder of G&G development company, noted that it is a good practice to take loans from foreign financial institutions, however, this is a quite difficult process. G&G and many other Georgian companies cannot draw financial resources from foreign banks, he said. «International financial institutions demand that domestic commercial banks monitor construction process and, based on the monitoring results, issue guaranteeing documents. However, Georgian banks do not issue this document. And they do not issue this document not to lose specific business in the future, as a client», Tsakadze noted. It will be wonderful if this issue is regulated at the level of National Bank of Heorgia. If this issue is regulated in the country, many companies will receive loans from international financial institutions, he said. Financier Vakhtang Khomizurashvili says that Georgiabased commercial banks avoid applying guarantee instruments. I have not heard any commercial bank in Georgia have issued a financial guarantee, he noted. Financial guarantees are related to special regulations: commercial banks must see what they issue guarantees for and determine the mechanism for ensuring the issued guarantee, Khomizurashvili noted. «This is very difficult in case of our commercial banks. Georgian commercial banks do not apply either variety of guarantees or the mechanism applied by Deutsche Bank or Bank of America. Our banks prefer to work in a simple way. Foreign banks compete with each other and apply various mechanisms to develop various new products for clients, while our commercial banks are not interested in this issue. In Georgia two commercial banks control 70% of the bank sector, Consequently, They do not want to attain competitive advantage», Khomizurashvili noted. The bank expert also gives certain suggestion to developers and says that they can draw finances in the form of indirect loans and they can prepare a project. The question is of issuing the so-called project, corporate bonds. «They should submit these bonds to foreign financial institutions. This is an international and approbated method», Khomizurashvili said. The issued bonds may be bought by various businessmen, including bankers and risks may be distributed to various stakeholders. «This enables any developer to draw cheap and long-term capital. Regretfully, developers does not have similar competences. It is not necessary to apply to Galt&Taggart, because there are also other brokerage companies», Khomizurashvili noted.

opinion

October 2, 2017 #210

Record Dividends of Excise Tax Growth Rati Abuladze Professor, Doctor of Economics

rowth in excise tax is an important instrument that is justified by state funding principle and specific goals. Over the past years, Georgia’s economic growth pace has declined and it has become necessary to implement efficient approaches of economic policy. To this end, in the shortest period, «without much efforts and research», the Estonian model of profits tax was introduced. This model, on condition of profits tax system reformation, enabled companies to maintain financial resources (2.5bln GEL in 4 years). At the same time, as part of this approach, for the purpose of compensating budget losses, the Government decided to raise excise tax and this decision was preconditioned by objective and legal reasons. Excise tax increased on gambling games, vehicles imports, petrol and tobacco. According to forecasts, similar approaches were to enliven economy, intensify business activities, make new investments, create new job places, grow output, reduce imports, narrow current account deficit and prevent the existing challenges. It should be noted that amid current economic developments, state budget was fulfilled by surplus in January-June period, while January-September fulfillment made up 90%. Naturally, budget fulfillment is identified with stability of environment, governance process, stable operation of public offices. However, the Deputy Finance Minister noted that the increased excise tax has not mobilized planned funds (state budget is to mobilize additional 200mln GEL from increased excise tax on tobacco products in 2017). It should be noted that the decision on growing excise tax on tobacco products was taken to alleviate its harmful effect, reduce the demand for smoking and limit an access to tobacco products. At the same time, smoking is considered as an personal dependence on tobacco products and higher prices are considered to be able to reduce smoking level in the country. Research works show that 10% upturn in tobacco price lowers smoking level by 7%.

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I would like to note that the political environment may be shaped by new political word, new political resources, new political technologies, by setting end to demagogy and disinformation. Otherwise, the society will lose political belief for ever, trust towards political parties and hope for better future.

Key expected effects of increased price is: limitation of access to tobacco among adolescents, pregnant women, low-income population and other vulnerable groups. It should be also stressed that growth in tobacco excise tax is also related to such positive factors as: health protection, lifespan, reduction on health expenditures, medical expenditures, growth in revenues. It is worth noting that tobacco excise tax growth was to replenish state budget and reduce smoking level, but the reality has showed that: • Excise tax growth is not manageable and minimal; • When raising excise tax, Government has not taken into account the structure of demand, solvency, social-economic condition of our society; • Society is sensitive to growing prices. Amid current pricing policy and low incomes, people cannot pay higher prices. At the same time, higher excise tax burden is mainly laid on consumer segment and similar policy creates preconditions for growing demand for smuggled products; • Higher excise tax on tobacco products have aggravated burden on low-income segment, as compared to high-income segment; • Higher excise tax on tobacco products has not brought either social or economic effect because of high dependence on it. In this direction mobilization of planned revenues was thwarted. Smugging increased (Finance Ministry investigation office noted), revenues of citizens shrank. Tobacco-dependent low-income citizens got impoverished more. The mentioned challenges arose because of nonacademic implementation of governance processes, i.e. no precise outcome has been determined in advance, while approximate supposition looks like sailing in the sea without compass, due to stars and various other signs. Because of political and governance environment, professionalism is not employed in the country. Finally, I would like to note that amid the current political approaches, business sector has more beneficial condition with a wider access to financial resource and cheap working resources, while higher excise tax hits only low-income population. Current approaches deepens social inequality. Therefore, governance and political environment should be reformed, taxes should increase at the expense of major companies and highincome segment.

Nenskra HPP Construction Works will Be Accelerated Partnership Fund’s executive director David Saganelidze has hosted the managing team of Kwater, Korean water resources corporation and Nenskra HPP project company JSC Nenskra Hydro . At the meeting the parties discussed Nenskra HPP construction process and discussed project implementation issues. K-water managers thanked Georgian officials and Partnership Fund management for efficient promotion of the project and noted that the Nenskra HPP construction pace will be accelerated. The K-water vice president arrived in Georgia after the fruitful visit the Partnership Fund’s executive director paid to South Korea. At the company head office in South Korea, Saganelidze met with Kwater President Hak-Soo Lee. At the meeting the parties discussed partnership perspectives and outlined future plans. Partnership Fund and Korean K-water have been building 280megawatt Nenskra HPP on the river Enguri tributary in Svaneti Region. Potential annual generation is 1’200.00 GWh. The HPP will launch electricity generation in 2019, while project implementation will end in 2021. Construction works are carried out by major Italian company Salini Impreglio jointly with Georgian contractor building consortium GCC. Total value of the project is 1bln USD. EBRD, ADB and KDB participate in the crediting component. During his visit to South Korea, the Partnership Fund’s executive director attended International Water Conference organized by Asia Water Council in the city of Jeonju. Asia Water Council is led by K-water president Hak-Soo Lee. The conference named as Asia Decisions for Water was attended by businessmen from various countries of the world and government officials. The conference topic was an exchange of considerations about an employment of water resources, as well as the sharing of the best practice and action plan. David Saganelidze also visited Kwater center for integrated water resources management. K-water, South Korean water resources corporation owns 20bln USD assets and its annual turnover is 1.7bln USD. The corporation was founded in 1967 and it manages national water resources for 50 years and supplies water to a major part of Korea. The company owns cascades, dams, water supply systems and facilities. Moreover, K-water implement international projects in various countries.

PR Person

October 2, 2017 #210

Interview with Tamar Dumbadze, PR and Marketing Manager for TechnoBoom.

“There is much difference between PR and advertisement. PR is a long-term process for creating positive, sometimes even negative reputation, and you depend on media outlets.”

Today PR is a Developing Field in Georgia -Name your best project or period you take pride in. -We have many projects to be proud of, but I would name culture project Autograph of Century, which was implemented by blessing of Ilia Second, CatholicosPatriarch of All Georgia. Objective of the project was to express gratitude to honorary representatives of Georgian culture of the 20th century. Our team is very proud of this project. -Which of your campaigns do you consider to be the most creative and efficient one? - We always implement innovative and creative campaigns on the market. For example, everybody knows that our company was the first to promote a 24-month interest-free installment payment scheme and companies in various

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We have not encountered such crisis periods during my professional career in this field, naturally, thanks to right strategies and efficient operation of our team.

fields actively use this product. We have also implemented a onemonth campaign with a doubled guarantee for the lowest price. -Have you ever had to cope with negative media reactions? -We keep very active relation with media. It is very interesting to cooperate with them. To be frank, I do not remember any negative reaction from them. -Have you ever had period when your PR communication was erroneously understood by the target audience? -Our PR and marketing team always provides maximum efforts to deliver all our messages to customers in a right way to prevent erroneous perception, irritation and so on. Consequently, all sorts of communication is directed for satisfaction

and goodwill of our clients. -How do you settle crisis periods in PR activities? -We have not encountered such crisis periods during my professional career in this field, naturally, thanks to right strategies and efficient operation of our team. You should always think like your clients. In this case all crisis threats are minimized. - What is the most interesting aspect of PR field and which aspects would you improve? -This is very interesting and pleasant, when I plan activities every day and implement projects aimed to ensure goodwill and confidence in people. Today, PR field in Georgia remains in a developing phase and it requires serious promotion and support.

October 2, 2017 #210

Culture

Georgian Artists Exhibit at International Art Biennale BeijingThe Silk Road and World’a Civilization

7 ninna gomarteli

th International Art Biennale Beijing is themed The Silk Road and World’s Civilization. The opening was held on October 24 and exhibition will run through October 15 in China’s capital. It holds at Beijing’s National Art Museum,

participated by artists from 102 countries. 15 contemporary Georgian artists have exhibited their work at Biennale Art Exhibition and expressed themselves through various sculptures and paintings for the first time. Artists are featured by Project ArtBeat and T.G. Nili Art Space. Georgian participants are: Maka Batiashvili (attended Beijing Biennale), Mai Lashauri, Lado Pochkhua, Levan Mindiashvili, Kako Topuria, Irakli Bugiani and Tamuna Melikishvili. Also: Maia Naveriani, Karlo Chechelashvili, Archil Tabagari, Beso Uznadze, Vakho Bugadze, Giorgi Gagoshidze, Lana Tsagareishvili and Tako Akhaltsishvili. It is remarkable, that important cultural event coincides with 25th anniversary of the establishment of diplomatic relations between Georgia and China. Georgian Artist, Maka Batiashvili explains CBW the importance of participating in this year’s Biennale: “As we know, current year is the 25th anniversary of China and Georgia friendship. Georgia was a very special guest, exhibited in

“Imagining Silk Road as a line that conveys much more than only transportation of commodities but it has an underlying idea that drew cultures together. In this age of turmoil and instability both in the East and the West we can reach out to the idea of Silk Road in search for inexhaustible compassion and cohabitation”.

“The Silk Road and the World Civilization talk about a movement between the East and the West. One of the very first trading routes establishment, the Silk Road is about communication and mutual development, it is about understanding each other through economy, cooperation and the mutual exchange if goods”.

The decorative art of the Western Regions is worthy of attention and research as well as its character paintings, as it has both the decorative art of walls and the background decoration of a single figure

one big pavilion, participants would note how it brought even more diversity. Georgian Embassy in China contributed to arrange that and made Georgia’s debut at Beijing’s Biennale remarkable. It was extremely interesting to see artworks from professional artists around the globe, meet them personally and exchange ideas”” A one-day international symposium was held on the next day of the opening ceremony Participants along with the spreading cultural forms in the form of applied art, also exchanged their attitude to the topic and discussed about the importance of Silk Road. Lithuanian artist and lecturer in A Martiqnaits Art School of Kaunas shares his point of view of the Silk Road and Cross-Cultural Communication with CBW: “Imagining Silk Road as a line that conveys much more than only transportation of commodities but it has an underlying idea that drew cultures together. In this age of turmoil and instability both in the East and the West we can reach out to the idea of Silk Road in search for inexhaustible compassion and cohabitation. Impression of the Silk Road gave me a chance to see an endless route for numerous travelers through ages who carried ideas back and forth. It symbolizes journey as an essential concept for living.” It is reasonable to say that the 7th Beijing

Biennale stands for a new pattern in today’s international easel art. Here every artist made his best to express his understanding of the spirit of the Silk Road and World Civilizations in artistic language. “The Silk Road and the World Civilization talk about a movement between the East and the West. One of the very first trading routes establishment, the Silk Road is about communication and mutual development, it is about understanding each other through economy, cooperation and the mutual exchange if goods. The underlying theme of the Silk Road is the mutual appreciation of culture,”explains Xenia Benivolski, International Curator of the 7th Beijing Biennale According to Wang Yong, Researcher of Chinese National Academy of Arts, works exhibited in the 7th Beijing Biennale under the theme “The Silk Road and World Civilizations”, especially those foreign works, are obviously high in quality than those former sessions. “The decorative art of the Western Regions is worthy of attention and research as well as its character paintings, as it has both the decorative art of walls and the background decoration of a single figure. It offers channel for us to explore Western end of the Silk Road”- says Zhou Jianpeng, Postdoctor of Scherlo of Arts at Peking University. The next Beijing Art Biennale will bring artists together again in 2019.

business

10 Experto Consulting Appointed as the Exclusive Partner for Nersant Business 2017 in Portgual

Entrepreneur Gela Chkoidze Plans to Export Spices of His Own Production to Europe

A Tbilisi-based business consultancy which pioneered Market Entry Services in Georgia – announced that they were recently appointed as the exclusive partner for Nersant Business 2017 in Portgual, October 23-25. “The amount of trade between Portugal and the Caucasus is fairly limited. But as the European Free Trade Agreement takes hold here in Georgia, we expect that picture to change fairly quickly. The purpose of Nersant Business 2017 is to bring businesses together to explore new possibilities,” said Ludovic Girod, Experto Founder and Managing Director.

Promoting Land Border Management between Azerbaijan and Georgia The European Union (EU), United Nations Development Programme (UNDP) and the Governments of Azerbaijan and Georgia summarised the results of a three-year initiative which aimed to enhance land border protection between Azerbaijan and Georgia. Theclosing conference of the programme in Tbilisi on September 25, 2017, brought together top officials of the border management agencies of Azerbaijan and Georgia, border management officials from the European countries – Austria and Romania, and representatives of the European Union, United Nations and the International Centre for Migration Policy Development (ICMPD). Niels Scott, Resident Representative of the United Nations Development Programme (UNDP) in Georgia; Carlo Natale, Deputy Head of the Delegation of the European Union (EU) to Georgia; Levan Chabukiani, Acting Head of the Border Police of Georgia; and Farhad Taghizada, Deputy Chief of the State Border Service of Azerbaijan, addressed the conference participants with welcome remarks.

Georgian Entrepreneurs Created TreePex The First Ever Device Transforming Polluted Air into Fresh Oxygen Georgian entrepreneurs who have set up startup Treepex a green loyalty program, today presented the first ever device which transforms polluted air into fresh oxygen and enriches it with minerals under the same name Treepex. Disappearing forests and increased emissions are the main causes of the evolving air pollution disaster, taking the lives of over 5.5 million people each year. Especially those living in larger cities are affected by air pollution related diseases. That is why the greenovative startup Treepex – based in one of the most pollution-affected countries globally – decided to take action, founders outline.

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Georgian seasonings, which are sold under the brand name of House of Spice on the domestic market, do not contain harmful substances for human health, eugeorgia.info reports. National Food Agency laboratory examination has showed that the product of House of Spice is absolutely safe and consumers are able to buy them without hesitation. The company owner Gela Chkoidze says that the laboratory examination results was foreseeable for him. “Peasants pick raw materials in highland zones, Svaneti, Samtskhe-Javakheti. I bring savory from Borjomi, which is picked on cliffs and similar places are free of emission”, Gela Chkoidze noted.

Georgian Show Business Getting More Like a Business First Every commercialized music video of Georgian Singer and Social Media Influencer Ekuna Kanchaveli Airs in Georgia. Gotta Run music video was filmed in Georgia’s seaside town Batumi. “It is very difficult to attain success in show business in Georgia, because money is not invested in this field,” says producer of the singer. Many artists have to use their own financial resources to act in this field. We want to change this paradigm and we believe it is possible to attract business sector for high-quality product and high-quality PR. CHCHX Production has made much contribution to implementing this idea and project and supported the clip shooting. IMEDIA HUB has provided the creative and managerial part of the clip. Currently, the company ensures Ekuna’s producing. The shooting process was carried out in Batumi in

quite heavy conditions. Despite this, we have managed to shoot required pictures. Our future plan is to shape a valuable teenager brand from Ekuna, as she, first of all, creates high-quality product for its segment and also represents a commercial interest, on the other hand. Today Ekuna is very popular among video bloggers and is the most famous face in this segment (-14-21 years old), however she could not shape valuable professional content because of certain financial and logistics problems. At this stage, Ekuna cooperates with a creative agency and production, which ensures high-quality performance. We should also mention he company that has beautified this new clip with its equipment – Inntech company. It is also the first company, which has taken such a risk and financed the clip.

Advocate and Lobbying Equal Opportunities for Education and Employment of People with Special Needs On September 13th, 2017, closing event of the project of European Union “Advocate and Lobbying Equal Opportunities for Education and Employment of People with Special Needs” was held in Tbilisi. The project aims to support socio-economic development through training and employment. The project also serves to establish partnerships between vocational and business sectors, reduction of stigma and discrimination in the society against people with disabilities and increase public awareness on these issues. On the event, Hilton Batumi was awarded as the Best Employer of 2017 as it’s actively engaged in the project from the beginning; To be more specific, Hilton

Batumi had 10 people with special needs on practice in Kitchen, HSK, IT and Security Departments, and currently 8 TMs with special needs are employed in Security, HSK and Kitchen Departments; It also has to be noted that only 8 companies were awarded in whole Georgia, and just 2 were from Batumi, as Hilton Batumi Hotel was and is the first one leading by example – hiring people with special needs, which is unfortunately exceptional for Georgian companies; So with all this cooperative relationship, hopefully more and more companies will take examples from Hilton and they all together will create environment of equal employment opportunity.

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Brand History -

Vake Meat Products

ompany Foundation Idea – Vake Meat Products, a Georgian meat products company, was founded in 1961. Initially, the company was specialized in production of frankfurters. The company director general Levan Chkhaidze noted that in the 1980s Vake Meat Products plant used to produce the most favorite frankfurters - Iveria and For Children. Starting 1990 the company expanded assortment. Today the company produces about 130 varieties of meat products. The company permanently supervises the quality of products, introduces innovations and new technologies and these factors have ensured continuous production process for 50 years. Formula of Success – Levan Chkhaidze, director general for Vake Meat Products company explains that quality plays a decisive role in attaining success at all companies. «Our company remains devoted

to production of high-quality products. Our consumers return this devotion to us. As a result, this approach brings success», Chkhaidze said. Key Problem in Brand Establishment Process – Natural disaster and flood occurred in Tbilisi on June 13, 2015, was the major difficulty for the company. On that day, the flood annihilated all assets of the company, Chkhaidze said. As a result, the company management had to continue production in Lilo, at a leased building. The new company will build a new plant in Gldani, that will supposedly open at the beginning of 2018. History of Name and Logo – The name of the company and brand derives from the location. In that period the production was located in Vake, Chkhaidze said. Why Vake Meat Products? - Consumer is oriented on quality. The company tries to supply top quality product to the market.

Croatian IGH Plans to Expand Business on Georgian Market

roatian Engineering Company IGH Plans to Expand Business on Georgian Market. Mr. Oliver Kumric, member of the company supervisory board, and the company President Ivan Paladina have arrived in Tbilisi. They are meeting with Georgian officials to discuss future cooperation perspectives, including at Ministry of Regional

Development and Infrastructure, Ministry of Environment and Natural Resources, Georgian Melioration and Georgian Railway. The company management says that at the meeting the parties are discussing opportunity for IGH to participate in new projects and to assist in establishing European standards in Georgia. It is important that IGH plans to stimulate

students and appoint a monthly scholarship to five successful MA students of Georgian Technical University. Moreover, the Croatian company will assist the faculty in developing education academic programs and participate in working of board of advisors of employers, and ensure probation programs for students in its own office. Ivan Paladina, president of the board of directors of JSC Institute IGH, says that the company will assist the university in searching corresponding modern textbooks, supply own considerations and advices to the university about the existing and planned curricula, assist the university in developing cooperation with Zagreb University in the mentioned direction. «The parties will prepare joint scientific articles about innovations, technologies and European standards. Leading specialists of the company will hold educational workshops for the university students», Paladina said. Institute IGH will sign a memorandum on cooperation with Georgian Technical University (GTU) at GTU administrative building at 17 o’clock on September 26. The memorandum will be signed by the GTU Principal academician Archil Frangishvili and JSC Institute IGH directors board President Ivan Paladina. It should be noted that IGH has been already cooperating with Road Department and carrying out rehabilitation-construction and maintenance-supervision works. It has been also working in several directions on designing road construction works. Namely, it has been implementing designing works for

Lentekhi-Mestia tunnel, Sno-Shatili-Akhmeta bypass road, Kutaisi-Abastumani section and Zemi Imereti-Racha motorway. Croatian company IGH launched operation in Georgia at the end of 2016, when it signed an agreement with Road Department of Ministry of Regional Development and Infrastructure of Georgia about reconstruction, modernization, construction of roads of international and domestic importance and liquidation of other force-majeure cases, as well as on supervision services for embankment strengthening works. IGH opened an office in Tbilisi, where 68 specialists/experts are employed, including 16 Croatian and 52 Georgian ones. Young programmers and supervision engineers, translators, maintenance-storing specialists, administrative staff and drivers work at the company office. Besides Georgia, IGH owns branches in Bosnia-Herzegovina, Montenegro, Serbia, Bulgaria, Albania. The company operates in Kazakhstan, Russia and Ukraine. INSTITUT IGH was founded in Croatia in 1949 and from then conducts professional and research & development activities in the broad field of civil engineering. Its main activities include design works, studies, technical supervision, consulting services, investigations, usability checking, laboratory testing and calibration. The company has designed more than 800 bridges, over 80 km total length of tunnels, among them also the longest tunnel in Croatia, the Mala Kapela with its length of 5760 m, are recognized as the safest in Europe (2007 and 2008).

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world

Armenia insists on signing double taxation agreement with USA

Turkish construction mogul ‘signs’ investment deal for giant tourism city in Bodrum Turkey’s Ağaoğlu Group has said it signed a letter of intent with investors from China and Hong Kong to build a 12 million square meter tourism city in the Aegean resort of Bodrum. In a statement on Sept. 15, the company said the tourism city, which will be Europe’s largest when it is completed, will include golf courses, hotels, residences, villas, university campuses, offices, a techno park and health facilities. “We signed a letter of intent with a Hong Kongbased financial investor and a Chinese construction investor group, which is specialized in city building and has several international investments, to build a tourism city in Bodrum, which will attract people throughout the year,” Ağaoğlu Group Chair Ali Ağaoğlu said. He noted that China’s “One Belt One Road” project was expected to create an $8 trillion additional infrastructure investment across 68 countries. “Turkey will get its own share from this project,” he added. According to Ağaoğlu, Chinese investors want to end the Silk Road in Bodrum. “Bodrum will be a window to the west for them. They told us the project is of strategic importance and they want to make an investment,” he said, adding that the planned tourism city would be Turkey’s new attraction.

Belarus keen to establish joint pharmaceutics venture in Azerbaijan Azerbaijan and Belarus are interested in expanding relations in pharmaceutics, the Azerbaijani Economy Ministry said in a message Sept. 27. According to the message, Belarus is interested in establishing a joint pharmaceutical enterprise in Azerbaijan as well as rendering support for training of medical specialists. Azerbaijani Minister of Economy Shahin Mustafayev discussed this issue with Belarusian Minister of Health Valery Malashko, who is on a visit to Azerbaijan. At the meeting, Mustafayev stressed that the Azerbaijan-Belarus relations cover many sectors of economy and the relations successfully develop in trade and humanitarian spheres as well. The opening of Azerbaijan’s Trade House in Minsk in May is important from the point of view of development of relations between the countries. Stressing the special role of presidents’ official visits and meetings in expansion of cooperation between the countries, Mustafayev stressed the importance of Malashko’s visit in development of the Azerbaijan-Belarus relations, in particular, in development of cooperation in healthcare and pharmaceutics. “Azerbaijan pays special attention to development of the pharmaceutical industry,” Mustafayev said. “For this purpose, the Pirallahi Industrial Park has been established. Work is underway there to establish joint ventures with Russia and Iran.

Until 2022 Armenia will conclude agreements on the exclusion of double taxation with 8 more countries and will pursue an agreement also with the United States to abolish double taxation, Armenian finance minister Vardan Aramyan said at a press conference on Monday. So far Armenia has concluded such agreements with 47 countries. The latest was signed with Israel. The minister added that two agreements with Kyrgyzstan and Uzbekistan will be signed later this year. He noted that Armenia insists on the necessity of concluding an agreement also with the United States. According to him, the parties have disagreements on the need for such a document. US ambassador to Armenia Richard Mills said earlier this year that the US was prepared to look at the treaty if it proves necessary to foster trade and investment. For now, the existing double taxation treaty which has been in effect since the 1970s in our view remains valid and is sufficient to cover trade and business between our two countries

but we wait to hear and see what evidence the Armenian government will present to justify a new treaty,” ambassador Mills said. According to Aramyan, the agreement mentioned by the ambassador can not apply to Armenia, since it is not the legal successor to the former Soviet Union. Besides, the agreement signed in the 70s of the last century has become outdated and does not meet the current requirements, according to Aramyan. He stressed that the Armenian side intends to propose the US to modernize the agreement, amend it in accordance with modern realities, as well as the current international legislation and sign it with an independent Armenia. The minister noted that the absence of such an agreement hinders the attraction of bilateral investments. As an example, he mentioned the acquisition of Armenian Vorotan HPP by US-based Contour Global, which had to register through its subsidiary in Luxembourg, with which Armenia has an agreement on the exclusion of double taxation.

Saudi Arabia Agrees to Let Women Drive

Blockchain and Disruptive Tech Dedicated Conference at SiGMA Malta’s annual iGaming week is just around the corner! The team behind SiGMA is gearing up for the largest iGaming show Malta has ever seen, planning conferences, networking dinners, and week full of events. With a sold-out floor plan, the week will be jam-packed with wining, dining, networking, and business leads. Main executives and exhibitors showcasing here will include Mr. Green, Blexr, Bet365, William Hill, Better Collective, Poker Stars, Catena Media, Malta Gaming Authority, Cherry, Microgaming, XLMedia, Ladbrokes, and many, many more. Be sure you are in the know with what’s happening the week of November 22nd-25th. A conference dedicated to Blockchain and Disruptive Tech will occupy the second half of Friday, 24th November. In SiGMA’s Main Room, you will have the opportunity to see a variety of discussions involving start-ups, Bitcoin, risk-management, regulation, and the future of Blockchain for iGaming. The excitement begins at 13:30 in the startup pitch when 40 start-ups exhibiting at SiGMA will make their 3-minute pitches. Ten investors will be scrutinizing these presentations to assess, grill, and invest. One of these innovative minds will take home a win and

a promising opportunity to kick-start their startup. Investors in the stand for this competition will include the following: • Morten Klein, Founder of Klein Group AS • Julie Meyer, Founder and CEO of Ariadne Capital • Carla Maree Vella, CEO of Optimizer Invest • Mark Blandford, Partner in Burlywood Capital • Simon Collins, Founder of Gaming Realms • Ory Weihls, CEP of XLMedia Group • Robin Reed, Founder of Gaming Innovation Group • Rickard Vikstrom, Founder of PolarBear Group • Roger Walker, Partner in Partis Solutions Following the exciting startup pitch, Steve Donoughue, gambling industry strategist and communications specialist, will walk startups through a list of pitfalls to take into precaution. The topten checklist for disruptive startups will be presented at 15:15. Immediately after, Eric Benz will take the floor. As managing director for Cryptopay, Benz is well equipped to lead us through a brief discussion on 2017 as “the year for Bitcoin.”

Saudi Arabia announced on Tuesday that it would allow women to drive, ending a longstanding policy that has become a global symbol of the oppression of women in the ultraconservative kingdom. The change, which will take effect in June 2018, was announced in a royal decree read live on state television and in a simultaneous media event in Washington. The decision highlights the damage that the ban on women driving has done to the kingdom’s international reputation and its hopes for a public relations benefit from the reform. Saudi leaders also hope the new policy will help the economy by increasing women’s participation in the workplace. Many working Saudi women spend much of their salaries on drivers or must be driven to work by male relatives. “It is amazing,” said Fawziah al-Bakr, a Saudi university professor who was among 47 women who participated in the kingdom’s first protest against the ban — in 1990. After driving around the Saudi capital, Riyadh, the women were arrested and some lost their jobs. “Since that day, Saudi women have been asking for the right to drive, and finally it arrived,” she said by phone. “We have been waiting for a very long time.” Saudi Arabia, home to Islam’s holiest sites, is an absolute monarchy ruled according to Shariah law. Saudi officials and clerics have provided numerous explanations for the ban over the years. Some said that it was inappropriate in Saudi culture for women to drive, or that male drivers would not know how to handle having women in cars next to them. Others argued that allowing women to drive would lead to promiscuity and the collapse of the Saudi family. One cleric claimed — with no evidence — that driving harmed women’s ovaries.

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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 76-g Chavchavadze Ave., Tbilisi Tel: 231-11-61, 231-14-54 E-mail: 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

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 River Side Hotel With incredible service and views Addr: Mari Brosse street turn, Old Tbilisi. Tel: +995 32 2242244; +995 32 2242288 Fax: +995 32 2 242277 Email: info@riverside.ge Website: www.riverside.ge

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,

15 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

LimelightTravelinfoCenter Address: 13 Sioni Street, 0105, Tbilisi (at the end of Shardeni Street) Phone: +995 322 999 123 E-mail: info@limelight.ge Web-page: www.limelight.ge Facebook page: www.facebook.com/limelight.ge

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

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