Caucasus Business Week #224

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February 5, 2018 #224

February 5, 2018, Issue 224 - www.cbw.ge

Econo-mix The Banking Sector’s Profits in 2014-2017 Exceeded the 20012013 Profits Twice Pg. 4

Bjorn Brandzaeg: The target is to start the construction of the Namakhvani project in 2018

Pg. 6

Keti Macharashvili: Relevance and responsiveness are key concepts of public relations Pg. 8

Will Tbilisi City Hall’s Initiative Affect on Taxi Service Prices?

Regus Business World Membership Cards Offers Access to 3,000 Branches International Office Provider REGUS has already been established in Georgia, serving customers in Tbilisi’s most prestigious, active and dynamic part of town (2 Leonidze Street, business center ‘Tabidze 1’, 4th floor,) and offers the ideal working environment.

“Our global network is expanding annually. All business people need an ideal environment and a favorable location to work, as well as flexible and simple payment terms. Regus takes care of all of the above, to ensure their work space is of the upmost comfort, without the loss of time, offering all necessary services without additional expense,” said Rusudan Chakvetadze, representative of Regus in Georgia.

The main customers of Regus are business people who travel around the world. That’s why the company is expanding in the business world, making it simpler, and offering 3,000 branches worldwide.

Regus Business World card holders can access all these branches.

Pg. 9

Regus Business World Membership Cards Offers Access to 3,000 Branches

Pg.7

With the help of “OneDrive Business” files and documents stored in the electronic storageis available from any part of the world through internet, at the same time it is synchronized on any personal equipment.

Meaning, it can be accessible without internet connection. The process is simple: the user can create and adjust documents as desktop apps, as well as upload the same document in One Drive cloud storage and edit it using a web browser.

“Company” Syntax “actively cooperates with the GASA licensed products. The next cooperation was the introduction of Microsoft’s licensed cloud technologies Office 365, including the cloud storage “OneDrive Business”. The technical work of our company was implemented by IT engineers. The new licensed cloud storage company allows employees to easily share documents with colleagues and other organizations.

Control who can view and edit all files. One of the advantages of synchronized documents in one drive is that they can be shared. In particular, the employees, who have common projects, have the opportunity to work on real time documents in the same file“.

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Newsroom

2 Government

PM: BTK Project Changed Transport Map of Georgia

Kvirikashvili said that the international projects being implemented and the geographic location of Georgia from the basis and at the same time add value to the economic activity in the country.

Georgia Joins EU Search Platform for State Tenders

Georgia has joined the EU s search platform for state tenders. The OPENTENDER. EU launched operation from January 30. The platform unites information on state tenders from 35 countries.

economy

Georgian Economy Increased by 4.8% in 2017

According to Sakstat, the estimated real GDP growth rate in December 2017 and in Q4 2017 amounted to 4.7 percent y-o-y.

The estimated growth of real GDP equaled 4.8 percent in 2017.

What Income Gambling Games Bring for the Budget

However, 119.585 million GEL was gained from gambling business trough the last year, the figure is more by 19.6% comparing to 2016. The sanctions is 197 737 GEL due to violation of permit conditions in gambling business.

banking

Bank of Georgia is the Most Profitable Bank in the Country

Bank of Georgia is the most profitable. As of January 1, ROE totals to 2.73% , while ROA – 31.5%. Bank’s assets are determined by 11.898 billion GEL, market share – 34.4% (2016 – 10.087 billion; 33.5%).

34 Percent of Deposits are in National Currency

The total volume of non-bank deposits in the country’s banking sector decreased by 0.7 percent, or by 141.5 million GEL, compared to December 1, 2017 and constituted 19.8 billion GEL by January 1, 2018.

business

Fitch Ratings Assign B+ to Silknet on Rating Watch Positive

Fitch Ratings has placed Georgianbased telecoms company JSC Silknet’s Long-Term IDR of ‘B+’ on Rating Watch Positive following the company’s announced acquisition of Geocell, Georgia’s secondlargest mobile operator.

More than 30 New Hotels Are Due to Open in Georgia

According to the 2018 January indicators, Enterprise Georgia has approved 38 projects as part of hotel industry development program. Total investment value of the projects exceeds 113 million GEL.

company

Georgian Dried Fruit Goes on Sale in New York

At this stage, GEMUANI products are sold in one supermarket, but the management is conducting negotiations with other trade outlets too and plans to expand distribution network.

February 5, 2018 #224

Georgia To Develop Cooperation in Trade, Agriculture And Tourism with Belarus

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elarus and Georgia will develop cooperation in trade, agriculture and tourism, Belarus’ Deputy Prime Minister Mikhail Rusy told the media after the meeting of the intergovernmental BelarusianGeorgian commission on economic cooperation on 31 January, BelTA reported.

“Belarus-Georgia trade and economic relations and cooperation in the humanitarian, cultural and tourism sectors have been vibrant in the past two years. Rational approaches have been developed in all the areas, including from trade to setting up joint ventures and creating jobs in such areas as mechanical engineering and lift equipment manufacturing.

Twenty-two lifts have already been jointly produced in. The goal for 2018 is to produce more than 200 lifts, and then organize a joint production of up to 2,000 elevators in Georgia.

There is also progress in the healthcare sector. We are grateful to our Georgian counterparts for cooperation in pharmacy. We have also decided how to develop cooperation in the agricultural sector,” said Mikhail Rusy. He emphasized the importance of cooperation in tourism.

“There is a need to consider new air routes with a view to developing tourism in both sides,” the vice premier said. At the same time, he drew attention to logistics issues. The Transport Ministries of the two states were instructed to study the routes which are used to deliver goods, and also new directions “to expand cooperation with Georgia and promote joint goods to third countries via Georgia.”

Among the documents signed on 31 January were the protocol of the fourth meeting of the intergovernmental Belarusian-Georgian commission on economic cooperation signed, the protocol

of the third joint meeting of the interdepartmental working group on the development of trade and economic cooperation between Belarus and Georgia, and the program for 2018-2019 to implement the agreement between the Minsk Oblast Executive Committee and the Administration of the State Commissioner – Governor of Kakheti on trade, economic, social and cultural cooperation.

Georgia and Belarus in search of new promising fields for further cooperation Georgia and Belarus are praising the increasing commercial-economic relations between the two nations and are setting goals to further boost cooperation in various fields of economy.

Transport and logistics, innovations, agriculture and developing joint industrial enterprises in Georgia are some of the major areas in which both countries see the possibility of bringing the current level of cooperation to new levels.

Georgia’s Economy Minister Dimitry Kumsishvili and the Prime Minister of Belarus Andrei Kobyakov met in Belarus today to discuss these issues.

Kumsishvili appreciated the growing economic cooperation between Georgia and Belarus within the formats of the intergovernmental economic commission and the commercial-economic inter-agency working group.

The statistics also show that Georgia and Belarus have been deepening cooperation in various areas. For example, last year, cargo turnover increased by 24 percent between the two countries and export increased by 50 percent compared to the previous year.

Also, last year the number of Belarusian travelers visiting Georgia increased by 28 percent compared to the previous year.

However, the ministers said

there was even more potential to develop cooperation between Georgia and Belarus.

At the meeting Kumsishvili thanked Kobyakov for Belarus’s assistance in fire liquidation works in Borjomi Gorge in August of 2017.

Kumsishvili awarded the Minister of Emergency Situations of Belarus Vladimir Vashchenko with a first decree medal for “Special Merits” and 10 rescuers with different medals yesterday.

It was announced that in March of this year the President of Belarus will visit Georgia. The visit will also aim at the development of deeper cooperation between Georgia and Belarus.

Georgia, Belarus hold intergovernmental economic commission Georgia and Belarus have signed an intergovernmental economic commission protocol, which will serve as a roadmap for the realisation of socio-economic projects between the two countries.

The intergovernmental economic commission held in Belarus today discussed ways on how to boost trade between Georgia and Belarus by removing barriers and deepening cooperation in the the fields of transport and logistics. Heavy emphasis was placed on developing existing transport routes in Georgia, including sea ports.

Officials also discussed the idea of opening a Georgian products store in Belarus. The Deputy Prime Minister of Belarus said that the Belarusian people should have the option of buying high quality Georgian products.

Increasing the export of Georgian wine to Belarus was also discussed at the meeting.

Georgia’s Kakheti region and Minsk region of Belarus signed a deal on bilateral commercial-economic and social-cultural activities for the years 2018-2019.

Georgia’s business community satisfied with current business environment

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he business environment in Georgia is favourable for the private sector’s daily activities and longterm development, reveals the latest studies from Georgia’s leading companies.

The private sector in Georgia positively assesses the current taxation system and tax administration, which according to the country’s business community, has improved “significantly” during the

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past three years.

At the meeting, the representatives of the Business Association of Georgia and the PM Kvirikashvili summarised key achievements of 2017 in the country’s business sector. PM Kvirikashvili stated that in terms of macroeconomic parameters, the year 2017 ended successfully.

The indicators were higher than planned in terms of Gross Domestic Product growth as well as in

terms of external trade and export indicators. It is also very important that the sovereign balance has been improved”, said Kvirikashvili.

PM Kvirikashvili also mentioned the results of the Open Budget Survey 2017 (OBS) released yesterday by the International Budget Partnership, which ranked Georgia 5th in the world out of 82 scores, based on an analysis of 115 nations’ budget transparency, participation and oversight.

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

February 5, 2018 #224

publicity

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econo-mix

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Banking Sector’s Profits Grow

Arda Yusuf Arkun

The Banking Sector’s Profits in 2014-2017 Exceeded the 2001-2013 Profits Twice

Change in the Management Board of PASHA Bank Georgia

Merab Janiashvili Economic Analyst

Georgian banking sector is recorded among top ten banking sectors worldwide, due to the mentioned indicators. To be precise, according to the International Monetary Fund (IMF) indicators, Georgian commercial banks rank 9th in terms of profitability, along with undeveloped countries of Africa, Asia and Latin America.

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ccording to the National Bank of Georgia (NBG), in 2017 net profits of Georgia-based commercial banks (profits after profits tax) made up 870 million GEL, up 191 million GEL as compared to the 2016 indicators (+28%). Net profits of commercial banks in 2016 made up 679 million GEL. The sector’s profits in December 2017 constituted 153 million GEL. In December 2016 the sector’s profits made up 113 million GEL. In 2017 commercial banks paid 91 million GEL to the state budget in the form of profits tax.

Today, the Georgian banking sector registers 16 commercial banks, 15 ones are profitable and their total profits account for 870.3 million GEL. The only commercial bank is Silk Road Bank, which ended the last year in 495 555 GEL losses. As to the most profitable banks, for many years Bank of Georgia maintains the leading position and TBC Bank comes second.

Consolidated revenues of these largest banks account for 667 million GEL, that is 76% (3/4) in the sector’s consolidated profits.

In 2017 total revenues of commercial banks made up 3.58 billion GEL, including 77% from interest incomes (2.76 billion GEL) and 23% from interest-free incomes (821 million GEL).

It should be noted that in 2017 commercial banks received 368 million GEL from commission fees, 202 million GEL from currency sales-purchase operations and 77 million GEL from fines.

In 2017 commercial banks spent 668.5 million GEL on deposits interest rates, while interest incomes from loans made up 2.76 billion GEL, up about 5 times compared to the attracted financial resources (Deposits). Throughout the 2017, net profits from sales and purchase of currencies made up 202.954 million GEL. It should be noted that in the same period of 2016 this indicator was 219.332 million GEL. As to loans, crediting portfolio of commercial banks constituted 22 billion GEL as of January 1, 2018. According to the NBG information, Dollarization in corporate loans constituted 74%. GEL-denominated corporate loans made up 2.5 billion GEL, while foreign currency denominated corporate loans amounted to 7.1 billion GEL. Retail loans portfolio constitutes 11.2 billion GEL. In this case Larization coefficient is 57%.

Foreign currency denominated retail loans amounted to 4.857 billion GEL, while GELdenominated retail loans made up 6.373 billion GEL. As compared to the previous year, Larization coefficient has considerably increased.

‘‘

Arda Yusuf Arkun Chairman of PASHA Bank Board of Directors, CEO Mr. Arkun graduated from Hamilton College, New York in 1998 with a double major in Economics and Mathematics. He is also an alumni of Robert College, Istanbul.

Mr. Arkun joined JP Morgan’s Mergers and Acquisitions team as an analyst in 1998 focusing on Natural Resources and Power industries.

In 2001, Mr. Arkun moved to London, UK and started to work for Inquam Limited, private equity company in telecommunications sector, as a manager in the business development team.

In 2005 Mr. Arkun joined Zapp Mobile (Inquam’s subsidiary in Romania) as the Director of Business Development, Marketing and Strategy. He led the transaction to sell Zapp Romania to Cosmote in 2009. After the sale of Zapp Romania, Mr. Arkun was retained by Cosmote as the Strategy advisor to the CEO. Mr. Arkun moved to Baku, Azerbaijan in 2010 as the Director of Strategy and Business Development at Capital Resources Advisors. He also served on the Board of Directors of Nar Mobile, B&B TV and Aimroc.

Mr. Arkun became the CEO of Aimroc, largest mining company in Azerbaijan, in 2014.

He led the transaction of selling Aimroc to Azergold in 2017.

Mr. Arkun joined PASHA Holding as an advisor in August 2017.

Mr. Arkun has been appointed as CEO, Chairman of Board of Directors of JSC PASHA Bank Georgia from February 1st, 2018.

‘‘

PASHA Bank Georgia is pleased to announce the appointment of Mr. Arda Yusuf Arkun as CEO and Chairman of the Board of Directors as of February 1st, 2018.

Mr. Arkun graduated from Hamilton College, New York in 1998 with a double major in Economics and Mathematics. Upon graduation he joined JP Morgan, NY, and then continued his career in UK and Romania as Business Development and Strategy Advisor.

Mr. Arkun moved to Baku, Azerbaijan in 2010 as the Director of Strategy and Business Development at Capital Resources Advisors. He also served on the Board of Directors of Nar Mobile, B&B TV and Aimroc.

Mr. Arkun became the CEO of Aimroc, largest mining company in Azerbaijan, in 2014.

He led the transaction of selling Aimroc to Azergold in 2017.

Mr. Arkun joined PASHA Holding as an advisor in August 2017.

“PASHA Bank Georgia established itself as a profitable corporate banking business under Shahin Mammadov’s leadership. We will continue to bring high quality products and services to our clients by hiring the top talent in the Georgian market and investing in the latest technologies. We would like to be an attractive alternative to our clients and help grow the Georgian economy by bringing cheaper source of funding from Azerbaijan and other international markets,” Mr. Arkun said upon his appointment.

Shahin Mammadov, former CEO of PASHA Bank Georgia, was promoted and will continue his career at PASHA Holding as Director of Business Support and Deputy Director.

February 5, 2018 #224

The indicator stood at 45.5% in 2016.

The List of top three leading commercial banks shows that Bank of Georgia is leader in terms of profits. TBC Bank is second and Liberty Bank is third. The year of 2017 has brought serious success to Bank of Georgia with a 73% upturn in profits and totaled 372 million GEL. The bank’s profits was 215 million GEL in 2016. In 2017 Bank of Georgia reserved only 30 million GEL. The bank’s assets rose to 12 billion GEL from 10 billion GEL and liabilities rose to 10 billion GEL from 9 billion GEL. The bank’s stock capital rose to 1.3 billion GEL from 1 billion GEL. TBC Bank ranks second in terms of profits. The bank’s profits rose by 15% to 295 million GEL in 2017. It should be noted that in 2017 TBC Bank reserved 135 million GEL. The bank’s assets rose to 12 billion GEL from 9 billion GEL, while liabilities rose to 11 billion GEL from 7 billion GEL. The bank’s stock capital has increased to 1.6 billion GEL from 1.4 billion GEL. In the previous year, Liberty Bank’s profits rose by 48% to 52 million GEL. In 2016 the bank’s profits made up 35 million GEL. In 2017 Liberty Bank reserved 37 million GEL. The bank’s assets rose to 1.8 billion GEL from 1.6 billion GEL, liabilities rose to 1.6 billion GEL from 1.4 billion GEL. The bank’s stock capital rose to 226 million GEL from 186 million GEL. It should be noted that in 2001-2013 total net profits of commercial banks made up 1.119 billion GEL, while in 2014-2017 period the figure marked 2.561 billion GEL. This signifies in 2014-2017 the Georgian banking sector has earned twice more net profits compared to the 2001-2013 period.

It should be also noted that in 2013-2017 the banking sector’s annual profits growth rate exceeds Georgia’s economic growth pace 6 times.

The banking sector’s profitability is determined by two indicators: ROA (return on assets) and ROE (return on equity).

Georgian banking sector is recorded among top ten banking sectors worldwide, due to the mentioned indicators. To be precise, according to the International Monetary Fund (IMF) indicators, Georgian commercial banks rank 9th in terms of profitability, along with undeveloped countries of Africa, Asia and Latin America.

It should be noted that in 2012 Return on Equity was 7.9%, today (according to the 1Q17 indicators), ROE is 27.6%. The indicator has increased 3.5 times. At the end of 2012 ROA was 1.3%, Today (according to 1Q17 indicators) ROA is 3.8%. The ROA rose 2.8 times.

“This is the Largest Transaction in the History of Independent Georgia. While evaluating transaction of 153 million USD, the banker made a focus on the difficult part of the negotiations with Swedish Telia. “Georgian company, which is capable to mobilize such a large resource, indicates that they have great potential and that this company meets the best standards of corporate governance”.

Badri Japaridze Founder of TBC Bank

February 5, 2018 #224

publicity

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interview

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jorn Brandtzaeg has been associated with the planning and implementation of some of the largest energy projects in Georgia.

He is the founder and CEO of Norway’s Clean Energy Group and the CEO of Clean Energy Group Georgia, which is developing the 433 MW Namakhvani Hydropower Plant (HPP).

He has twenty years of experience advising financial markets in the field of renewable energy.

His company is constructing the Namakhvani HPP together with ENKA, a Turkish firm with extensive experience in international construction projects. Construction of the Namakhvani HPP is scheduled to start in 2018 and, with an installed capacity of 433 MW, will be the second largest hydropower plant in Georgia.

February 5, 2018 #224

Bjorn Brandzaeg: The target is to start the construction of the Namakhvani project in 2018 “During the project, up to 3000 people will be employed.

A majority of the workers will be Georgian nationals.

In addition, the infrastructure in the region will be updated with a new 30 km road along the reservoirs improving access to Kutaisi for villages in the area.

The company will also pay more than 20 m lari annually in property tax.

Clean Energy Group Georgia will also have a social investment programme for the people affected by the project construction”

- After winning the tender, Clean Energy Group Georgia has started planning the construction of the Namakhvani HPP. How far along in this process are you at this point?

Our technical team has spent 6 months undertaking a design review of the project to confirm its feasibility. Having concluded the design review we are now working with Enka EPC to prepared the documents for the EPC contract and the start of construction. The lenders to the project have started their appraisal. The target is to start the construction of the Namakhvani project in 2018.

- Energy independence is crucially important for Georgia.

How can the Namakhvani HPP contribute to Georgia’s pursuit of this goal?

The Georgian electricity system needs more flexibility and storage capacity to ensure that the lights remain on in the country despite the rapid demand growth experienced in recent years. The Namakhvani project is one of the few hydro projects in Georgia that can be developed with a large reservoir providing flexibility to the system and storage of energy resources. The project will deliver its electricity to the Georgian system in the winter months when demand is high and supply limited in the Georgian market contributing to energy security for the country.

- What companies or organizations are partnering with Clean Energy Group Georgia and ENKA on this project?

Our philosophy is to use best avail-

able expertise when developing complex hydro projects. We have signed mandate letters for financing of the project with IFC and EBRD. We use Stucky from Switzerland as our owners engineer for the project, SLR from France our environmental adviser and leading UK, US and Georgian based law firms for legal advice.

- What social and economic benefits will the Namakhvani HPP project bring to the Tskaltubo and Tsageri communities municipalities?

During the project, up to 3000 people will be employed. A majority of the workers will be Georgian nationals.

In addition, the infrastructure in the region will be updated with a new 30 km road along the reservoirs improving access to Kutaisi for villages in the area. The company will also pay more than 20 m lari annually in property tax. Clean Energy Group Georgia will also have a social investment programme for the people affected by the project construction.

- Some in the NGO and civil society sectors are critical of the environmental impact of large hydropower projects in Georgia. What sort of environmental investigations has your company conducted, and how are you planning to mitigate these risks throughout the construction process?

Most countries that have hydropower resources develop these for electricity production due to the unique nature of hydropower which in most cases is cheap, flexible and renewable.

Georgia has in comparison with most other European countries developed

a small share of its available resources.

Hydropower has certain negative impacts including land take and reduced flow of water in the river. It is important to mitigate against these negative impacts. Clean Energy Group Georgia implements the project according to IFCs Performance Standard which is recognized as the leading standard worldwide for dealing with social and environmental issues associated with large infrastructure developments. We have hired leading international expertise to ensure that the implementation of the project follows Georgian as well as international standards. Our environmental and social approach will be independently audited to ensure that it complies.

- What sorts of social responsibility projects are you planning to carry out in the Namakhvani HPP project area?

Clean Energy Group Georgia plans to have a social investment programme in the area where the project is implemented. The programme will focus on improvements to the public health situation in the area, traffic safety and sustainable business development. In addition to this, the project will create a lot of jobs in the area.

- How do you measure the success of a large energy project such as this one?

For us a success is to implement a project where people affected by the project development feel that they are better off with the project than without it. The project shall be delivered on time and cost and provide a benefit for the population in Georgia.

taxi

February 5, 2018 #224

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Will Tbilisi City Hall’s Initiative Affect on Taxi Service Prices?

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axi drivers will be obliged to take licenses in Tbilisi. At Tbilisi Government’s meeting, Tbilisi Mayor Kakha Kaladze noted that the quality of taxi services will be improved and certain standards will be introduced stage by stage. Tbilisi residents and guests deserve high-quality, safe and comfortable services. Therefore, we will bolster improvement of these services”, Tbilisi Mayor noted.

At this stage, legal grounds are being prepared for issueing taxi service licenses. Registration procedures will become mandatory, Kakha Kaladze said.

Irakli Zarkua, Tbilisi Council majority member, noted that at the first stage, taxis registration procedures will be introduced, while specific regulations will be developed later. This sector will be subjected to regulations. Opposition is trying to dramatize the situation in the society and cultivate nihilism to gain political benefits, he added.

The City Hall’s initiative will bring order in taxi registration issues and we will know how many taxis work in the capital city, Zarkua said.

«We also plan to determine certain criteria to make transportation safe and comfortable for the capital city residents and guests. This is an widespread method and taxis are to satisfy certain criteria. After improvement of registration issues, we will determine how to organize this field. At this stage this field is in chaos», Irakli Zarkua noted.

For registration, taxi drivers should submit ID card, driving license and a registration certificate (the so-called technical passport) of an automobile, he said.

Regulations in this sector will be introduced later, he added.

“This sector cannot be left without regulations.

Regulations mean experience. It is inadmissible that taxi driver, who took a driving license yesterday, serve the capital city residents. This is risky. Therefore, we try to carry out the policy, which will best fit a major part of our society, whether this is popular or not”, Zarkua said.

David Meskhishvili, president of Transport and Roads Association, talks about wrong transport policy. Tbilisi Mayor Kakha Kaladze has proposed the initiative timely, however, before taxis, public transport sector should be improved, he noted.

“In this case it is necessary to determine priorities and ensure consecutive working process.

For example, taxi regulations will definitely raise service tariffs. Today average tariff makes up 3-4 GEL and it may rise to 7-8 GEL. As a result, the demand will grow for public transport (bus and subway). For example, today about 550 buses serve the capital city and after a growth in taxi tariffs, the capital city will need about 1000 buses to prove normal services. Therefore, we should develop public transport first, create alternative platforms and after this make taxi as a luxury service”, Meskhishvili said.

President of the Association of Transport and Roads appraises the announced general changes positively, including the parking improvement issues, however, he sees problems in this direction too. David Meskhishvili told the Commersant that building permits are issued for high-rise buildings, which do not include parking spaces.

“For example, the territory near Kekelidze, on Nino Zhvania Street, active construction works are being carried out and none of the buildings has parking space. I believe vehicle parking issues should be improved in this direction and issuance of building permits should be tight-

ened”, Meskhishvili said and outlined two important issues regarding changes announced

by Kakha Kaladze. Transport policy will be useless without consecutiveness, on the one hand, and structural changes should be carried out at Municipal Office of Transport and Transport Company.

“We back several initiatives by Kakha Kaladze if they are implemented in right way. However, it is unclear for us that Tbilisi Mayor continues working on the mentioned jointly with Narmania’s people. There are people at Municipal Service of Transport and Transport Company, who have led the situation to chaos. If structural changes take place we are ready for cooperation”, Meskhishvili noted.

What do taxi companies think about the announced changes and what changes are expected on the market?

Ejection of a part of taxi companies from the market, deficit of automobiles, growing tariffs, development of alternative private services – this is the small list of problems that may arise before taxi companies in the near future.

Nika Khoperia, founder of 200-200 taxi company, explains that the announced changes will make taxi vehicles deficient and raise service tariffs. “I think the mentioned changes are timely. The main thing is that these changes should not be sharp. Supposedly, top age limit will be imposed and parameters will be introduced for automobiles”, Khoperia said.

Tamar Darakhvelidze, representative of AgroTaxi, explains that expected regulations should be analyzed very well. She supposes that taxi drivers will fail to get adapted to the coming changes. Namely, a major part of them may fail to satisfy new criteria and withdraw from the market, she said.

“We welcome the announced changes. We have always tried to improve services. And now responsibility will also grow , naturally.

It should be noted that any changes will cause protests. Therefore, the coming regulations should be analyzed very well. Drivers are expected to face difficulties, because a major part of them will not be able to satisfy new criteria.

Taxis frequently create traffic jams, pollute environment, while new regulations may bolster a resolution of the mentioned problems”, Darakhvelidze said.

Levan Tavartkiladze, founder of Taxi 5 company, explains that these changes were planned two years before, under the ruling of former Mayor David Narmania. Therefore, working on this direction started long ago. The mentioned regulations may bolster a development of alternative private services, he said.

“We have many similar samples in Europe. For example, online program Uber, which enables taxi drivers to serve clients without plates on the roof”, Tavartkiladze said.

Introduction of regulations may leave many people unemployed. Changes should be applied refer to disordered automobiles, Tavartkiladze noted.

“30% of the employed are pensioners, however, I believe top age limit introduction is also very important”, Tavarktiladze said.

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PR Person

February 5, 2018 #224

“Relevance and responsiveness are key concepts of public relations’’ -Why did you decide to enter this field and what kind of opportunities does this profession give you in terms of career growth?

- I still consider myself new at this, officially at least. The decision to fully engage in the field though was not a difficult one for me, I had been with the firm for over 16 years before taking over the department, I’d practically grown with BDO, was part of and experienced every inch of development. So when the opportunity presented itself, I was more than ready to welcome the challenge. For the right type of people career in PR & marketing can be very fulfilling, which makes any job a dream job. As with any other profession, choosing a career in public relations is all about personality. I do this because I can and because it feels close to my heart. And if you care about something, you make the easy choices to commit.

- What is it necessary to hold a successful communication with public?

- Relevance. Undeniably. Being honest in everything you say, in a way that the society can relate. Ability to listen carefully, be adequate and responsive. Relevance and responsiveness are key concepts of public relations.

-What three tips would you offer someone just starting out in PR? - I’m not sure about the tips but what I could suggest to anyone interested in career in public relations is to eliminate the significance of the myth of manipulation, in the most common negative sense of the term. Any communication inherently designed to manipulate rath-

Interview with Business Development and Marketing Manager at BDO Georgia Keti Macharashvili

er than relate and build rapport is not public relations done right.

Also, stay informed at all times, about anything you do and especially plan to do. There is no alternative to being well equipped with facts, best practices and patterns of behaviour of the audience.

The rest is about being capable of reasoning and analyzing.

-What do you wish you would have known before starting your career in PR? - How fast evolving the field was. I’d like to have known that. But then again it’s all about being able to adapt. The rhythm is probably one of the most exciting things about this job.

-Describe your typical work week.

- Busy, and feels very short, but I would not be the only one in any occupation to say this :) the crazy rhythm of business sharpens deadlines in a way that ironically makes time irrelevant – there is no ‘week’ with a start and an end, time just rolls with loads of work to do.

-How would you go about finding relevant contacts and sources?

- Research. I personally base everything on research. And being present at all times where there is an opportunity to relate with people, regardless of the occasion.

- How would you prioritize and start your work day?

- By checking email, just like anybody else’s I think :) Any new day in fact reflects the previous day and plans then made. Prioritizing in the life of marketer is a relative term. It’s basically ‘do as you go’ matter with us.

-What are the skills that successful PR specialist needs?

- Any skills that a person would need to be successful in any career really. Good communicator, taking time to research and listen, and willing to take responsibility with respect to the job and no less importantly - to the people around.

-What trait do you value the most in your co-workers?

- Accountability towards others, agility and creativity. Being accountable shows the priceless inner culture that extends to the attitude that the person generally carries towards anything. Being agile translates into the ability to keep the pace as the environment changes and evolves, which in this reality is inevitable. And creativity is what makes it possible for a person to still stand out in this overloaded world of technology and progress.

If you are lucky enough to surround yourself with people with these qualities, you can rely on them. And this is something of utmost value.

- What is the best PR practice technology can’t change?

- Let’s face it, technology changes everything, but it certainly does not replace everything. Individualism, especially with the unbelievable redundancy of means of technology, always prevails.

- What are some of the growing trends in the public relations industry.

- Thought leadership, constantly growing value of reliable information. And with that smarter ways to engage public interest - relevant, time-saving techniques, with increasing human touch.

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February 5, 2018 #224

Microsoft’s Licensed Cloud Storage OneDrive Business will Release Companies from Excess Costs Microsoft licensed cloud storage Office 365, among them ”One Drive Business” was introduced at Georgian Air Service Agency (GASA). The company”Syntax” carried out technical works.

Regus Business World Membership Cards Offers Access to 3,000 Branches With the help of “OneDrive Business” files and documents stored in the electronic storageis available from any part of the world through internet, at the same time it is synchronized on any personal equipment. Meaning, it can be accessible without internet connection. The process is simple: the user can create and adjust documents as desktop apps, as well as upload the same document in One Drive cloud storage and edit it using a web browser.

“Company” Syntax “actively cooperates with the GASA licensed products. The next cooperation was the introduction of Microsoft’s licensed cloud technologies Office 365, including the cloud storage “OneDrive Business”. The technical work of our company was implemented by IT engineers. The new licensed cloud storage company allows employees to easily share documents with colleagues and other organizations. Control who can view and edit all files. One of the advantages of synchronized documents in one drive is that they can be shared. In particular, the employees, who have common projects, have the opportunity to work on real time documents in the same file, “Zaza Javelidze, Director General of the” Syntax “company speaks about the details of the company’s new service.

Microsoft’s licensed cloud technologies allow GASA to deploy operational information on a 2-storey protected cloud storage, which reduces the costs associated with infrastructure and management, and provides more opportunity to develop their business.

“With the help of the company” Syntax “, we have licensed the servers of our company and the working computer of all employees. Introduction of new services increased the level of information protection. “OneDrive Business”, which is quite convenient for employees and provides important documents in one space, safe keeping and exchange. Also, only a specific employee has the right to see the information, “- said Mikheil Chikhladze, deputy technologist, GASA. Nikoloz Doborjginidze, General Director of “Microsoft Georgia” speaks about the necessity of cooperation with business sector and notes that he is glad Georgian companies use modern licensed cloud technologies.

“Microsoft’s licensed cloud technologies, including” OneDrive Business “at each stage, support consumer data protection and enable risk management. In particular, it is possible to grant our preferred policy to restrict access to a particular document or to allow it to work with certain files. In addition, the OneDrive service and the application have a solid security system, through which it makes impossible anyone to disseminate confidential information without administrator’s permission.”

International Office Provider REGUS has already been established in Georgia, serving customers in Tbilisi’s most prestigious, active and dynamic part of town (2 Leonidze Street, business center ‘Tabidze 1’, 4th floor,) and offers the ideal working environment.

“Our global network is expanding annually. All business people need an ideal environment and a favorable location to work, as well as flexible and simple payment terms. Regus takes care of all of the above, to ensure their work space is of the upmost comfort, without the loss of time, offering all necessary services without additional expense,” said Rusudan Chakvetadze, representative of Regus in Georgia.

The main customers of Regus are business people who travel around the world. That’s why the company is expanding in the business world, making it simpler, and offering 3,000 branches worldwide. Regus Business World card holders can access all these branches. Cardholders can concentrate on the business side of things, and do not have think about which hotels or cafes of-

“Regus takes care of all of the above, to ensure their work space is of the upmost comfort, without the loss of time, offering all necessary services without additional expense”

fer the fastest internet and quiet work environment, because they can easily find all affiliate branches with the mobile App. Regus offers more than 3,000 comfortable lounges in 120 countries around the world,” said Chakvetadze.

As the company explains, there are three types of card: blue card, gold card and platinum card.

To open a blue card account, all you have to do is create an account on the Regus website www.regus.ge, or download the Regus application on your smartphone https://www.regus.com/regusapp, it’s free and easy to use. This allows you to become a member of the Regus community and obtain a 10% discount on services, be first to get information on news, and to have a chance to book meeting rooms or offices in the desired city.

For Gold Card holders, you will have access to business lounges around the world in 3,000 locations. The service includes internet, coffee, tea, printer and copying, among many other services.

Platinum Card holders can use all communal and individual offices in all countries. They can invite guests and have free access to the meeting rooms. Platinum card differs from the others, the company representative explains: “The Platinum Card offers unlimited access to personal offices in all countries. They can invite guests and have free access to the Regus meeting rooms at 3000 business centers. The Platinum Card allows you to have your own office in the world’s most prestigious business centers – Wall Street, Madison Avenue, Broadway and Park Avenue in New York, Monument in London, Downtown Dubai, Sun-tech Tower in Singapore, and Tabidze 1 In Tbilisi (a full list is available on the website.) Regus Platinum Card holders of any country will have access to an individual office, meeting room, and staff to resolve administrative issues quickly and efficiently.”

Regus was founded in 1989 in Brussels, Belgium. Its head office is located in Luxembourg. The company network comprises of more than 3,000 business centers, located in over 120 cities in 120 countries. Regus is represented at the London Stock Exchange. Regus is used for all types and sizes of business. Flexible and easy-to-use A-class offices, flexible and easy-to-use facilities, modern and protected IT infrastructure, meeting rooms, common work spaces, administration services, access to 3,000 branches around the world; these are important services that ensure small, medium and large businesses success.

business

10 Zara Home Store Opened at Tbilisi Mall Zara Home has opened at Tbilisi Mall today, on February 2. The store that covers 450 sq.meters. offers various things to furnish your home comfortably. Zara Home has established in 2003, and runs 408 stores in 44 countries.”Zara Home is based on a different concept of retail trade: this is a boutique shop for our homes and families.It is important and natural that people want to live in a comfortable place: home. e. Of course, the representatives of different cultures have different tastes, and that’s why Zara Home offers a variety of choices, everything we need, with the high quality and price-compliance. Zara Home collections will be presented with full consideration of Georgian tastes and will satisfy our customers’ needs. You can find the latest trends of design, fine fabrics, aromas and colors at one place. Visit us and enjoy shopping,”-said Dr.Yasin Sibari, Zara and Inditex Group General Director of Saudi Arabia, Central Asia and the Caucasus Region (Alhokair Fashion Retail).

Old Movie Theater Pavilion Put out for Sales at 7 million USD The Old Movie Theater, which is located on King Tamar Avenue in Tbilisi, has been put up for sales

by Colliers International Georgia, real estate agency.

The company epresentatives told BM.Ge that the stating price of the building is 7 million USD. The pavilion is a historical monument and its appearance must be maintained. The new owner will have to obtain a consent from Ministry of Culture for adding specific changes to the building.

Bitfury Group Introduced a New Investigative Product Crystal The Bitfury Group has introduced a new investigative product of Bitcoinblockchain System ”Crystal”, which will be used by law enforcement agencies and financial institutions.

Crystal will provide a comprehensive vision of bitcoin and blockchain technologies and uses data analysis to reveal dubious transactions.

In addition, the product offers the risk assessment system to investigators, which will help them identify the suspicious behavior. Crystal was created for law enforcement agencies to monitor their bitcoin transactions. “Blockchain has the ability and potential to fundamentally develop the daily lives of the population. Unfortunately, there are people who use its name for comitting crime. Bitfury’s new instrument makes it easier to find a possible crime in the system, “said Valerie Vavilov, founder of the company Bitfury.

February 5, 2018 #224

Georgian Company Becomes Facebook Partner Digital Marketing Agency AdvertWise is Facebook’s official partner. Marketer had an interview with AdvertWise’s Senior Online Marketing Tamar Andghuladze to find out what benefits does this status offer to a company: How did Advertwise become an official partner of Facebook? What steps did you take?

As you know, our agency successfully cooperates with many local or international clients. Facebook’s interest is that all clients are satisfied with advertising, so we, as an experienced agency that has contributed greatly to the success of its partners’ campaigns, have been able to gain confidence that “Facebook” will get involved in in advancing some advertising campaigns and Perfection.

VR Exhibition of Abandoned Places and People- Sokhumi, Tbilisi and Yerevan Based Artists Collaboration South Caucasus region virtual reality exhibition was held at Fabrika on January 25th, where VR technology was turned into a way to experience social problems, spaces, people’s stories rather than just entertainment. Marketer had an interview with project initiator Ninutsa Nanitashvili: Tell us about PeaceVR.. the details and aims of its initiation.

It’s been a long time since I’m interested in virtual reality. Two years ago I shared with my colleague the idea of ​​how we could use this technique to connect youth and spaces in conflict situations. In the summer of last year, I introduced this idea in Zurich, a conference called Build Peace, they got interested in the initiative,

managed to complete it as a project and get funded.

We united 10 young people at this stage from Tbilisi, Sokhumi and Yerevan. 12 videos were filmed around 4 topics. All of the films are about conflict and include social themes. The exhibition is being organized by the international organization “Elva” within the framework of the confidence building project PeaceVR. Our organization has been working on similar projects for years and has gained a lot of connections, I have many friends who live in Sokhumi too. With their help, I contacted people who did not hear about VR at all. This was also the purpose of a certain channel and opportunity to open up for them.

San Diego State University Unveils New Academic Building at Ilia State University San Diego State University and Ilia State University hosted the topping-out ceremony of the new academic building.

The event was attended by the Minister of Education and Science of Georgia Mikheil Chkhenkeli, MCC’s Deputy Vice President Lona Stoll, ISU’s rector Giga Zedania, TSU’s rector George Sharvashidze, GTU’s Rector Archil Prangishvili, SDSU-Georgia’s Dean Ken Walsh and other distinguished guests.

The four-story, 4,890 sq. meter educational institution is conveniently located close to Vake Park on Cholokashvili Street.

The building, which will be equipped with modern facilities and state-of-the-art labs is constructed within the framework of partnership between SDSU-Georgia and ISU. The space will host

electrical and civil engineering labs, classrooms, teaching and common areas. The construction of the academic building started in August 2017 and is expected to be fully finished and equipped by the end of 2018.

“The topping out ceremony is a common feature of the American construction industry and indicates a building attaining its highest structural reach. Traditionally, a piece of the top of the building is raised up with a crane, and decorated with flags to symbolize the building becoming an official entity. In this case, both the Georgian and American flags will be displayed in recognition of the cooperative nature of the SDSU-Georgia project.” said Dean Walsh.

The history of San Diego State University (SDSU) began in the late 19th century.

hotel

February 5, 2018 #224

’Several Upgrades Advanced ‘’Riverside’’ From Middle Class Hotel to a High Category Designer Place Hotel “Riverside Tbilisi” was opened in 2005 and is constantly growing and developing, which is the result of its team’s devoted work.

The “Riverside” is located in the historical and commercial business center of Tbilisi, in the corner of Mari Brose Street. The hotel is surrounded by two beautiful parks, with the famous exhibition of painters, and it takes just 2 minutes to walk to Opera, towards Rustaveli, which is very comfortable for tourists as well as business representatives.

The hotel “Riverside” has been upgraded several times, including the opening of the Tiffany Bar on the first floor of the hotel in 2014 and Tiffany Terrace in March 2017. The most famous French restaurant guide “Gault & Millau” included Tiffany Restaurant on Georgia’s twenty best restaurants list. In addition, Riverside was finalist at International Hospitality Awards along with Fairmont, Hyatt, Intercontinental and other European high-class hotel, which is very exciting to us and positively affects the country’s prestige.

In addition, the Riverside International Award for Hospitality Awards has been combined with hotels such as Fairmont, Hyatt, Intercontinental and other European countries, which is very exciting to us and positively affects the country’s prestige.

Dimitri Shvelidze, the deputy director of “Riverside” noted that upgrades of hotel was productive, as it ranked up from middle to high-class. HACCP standards were successfully implemented, as well as the European security standards on the basis of partnership with international organizations and their recommendations.

“At the same time we analyzed that there was no star granting organization in the country, accordingly we received HOTREC of the EU countries. HOTREC and its associations have been working on bringing on the classification of the European countries close to one another, the Hotelstars Union under the patronage of HOTREC was created. There are hundreds of requests to fullfil, which defines the stars and we made sure RiverSide accepted EU 4 star requirement. We even went beyond meet 4 S standards for our rooms, “Shvelidze said.

According to him, many modern technologies have been introduced in the Riverside to make the visit of the guests special. Caring for comfort means taking into consideration all the small details, starting with a personal concierge service, with great and comfortable beds in rooms.

According to him, many modern

At the same time we analyzed that there was no star granting organization in the country, accordingly we received HOTREC of the EU countries

11 ’Along with development, we should pay attention to improving infrastructure to make the country and hospitality industry more competitive and interesting in Eastern Europe

technologies have been introduced in the Riverside to make the visit of guest special. Caring for comfort means taking into consideration all the small details, starting with a personal concierge service, with very large and comfortable beds in rooms.

“The walls of the rooms are decorated with the decoration of the Emiliana Parati, and recently we offered new cosmetics production to our guests. Its quality is exceeded expectations. Also great work was done to introduce modern programs in order to make our team work more efficient and simpler. A few years ago, we were one of the first ones in the room to introduce a new generation door system and safe surfaces that worked on cards and guests did not have to remember the numbers. There are many premium services in the Riverside that have been implemented in this regard which increases the comfort of the guests, “Shvelidze said.

Dimitri Shvelidze, the deputy director of the Hotel “Riverside” declares, despite so many novelties, the prices for the room are still quite acceptable. Prices range from 260 GEL to 480 GEL depending on room category and breakfast.

“The biggest room at us is a suite that covers over 47 square meters and has a large terrace balcony and is very comfortable. The view from all the rooms is perfect. Dur-

ing the planning we took it into consideration, each room to have view over old town. ‘’Mira-Hotels’’ Riverside was the first project for our company, then we added Tiffany restaurants and tourism direction, Mira Travel.

The presentation of our new website www.mirahotels.ge was held in the middle of January.

Our company is interested in the operation of new hotels.15 year experience allows us to successfully manage any size hotel under our brands and successfully develop it with hotel investors / owners. In addition, it is interesting to launch Tiffany Restaurant in other cities such as Kutaisi and Batumi. We are actively working on this issue, “said Shvelidze.

According to his explanation, hospitality industry in general is developing successfully in the country: Georgia is steadily becoming a very popular tourist destination and number of travelers is growing every year. Tourism Administration also does a great job into advertising our country through various channels. I wish more travelers to visit from Western Europe and explore our beautiful country. There should be more advertising aimed at this market. ‘’Along with development, we should pay attention to improving infrastructure to make the country and hospitality industry more competitive and interesting in Eastern Europe,’’-Shvelidze said.

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February 5, 2018 #224

world

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High-Tech Park to create platform for ChinaAzerbaijan business relations

Turkey’s manufacturing growth hits fastest rate in almost seven years Turkey’s manufacturing activity expanded at the fastest pace in nearly seven years in January, a key survey showed on Feb. 1.

According to the Purchasing Managers’ Index (PMI) compiled by IHS Markit and the Istanbul Chamber of Industry (İSO), the headline index rose to 55.7 in January from 54.9 in December 2017.

Any figure greater than 50 indicates overall improvement of the sector.

“Business conditions in the Turkish manufacturing sector improved at a strong and accelerated pace at the beginning of 2018.

Bolstered by strong demand, growth in new orders and purchasing activity quickened, leading to the fastest expansion in output observed for almost seven years,” said IHS Markit economist Gabriella Dickens, commenting on the PMI survey data.

The overall performance was the best since March 2011 amid strong underlying demand, read the release, adding that the upward movement in the headline index was supported by sharp and accelerated output growth at the start of 2018.

“Notably, manufacturing output rose at the quickest pace since February 2011. Firms continued to win new business in January, as demand rose domestically as well as globally.

This led volumes of new orders to grow at the quickest pace seen in 83 months,” it added.

Russian banks ramping up gold purchases at record pace The Russian government has purchased twothirds of all the gold mined in country, buying it from local banks to add to reserves as the Kremlin sees the precious metal as a safe haven at a time of geopolitical turbulence.

“For banks, this is good business. They credit mining companies, which return the loan with the gold they extracted. Then banks sell it to the Central Bank,” according to the Russian Finance Ministry, quoted by Prime news agency.

Russia is the largest gold buyer in the world, and purchases by Russian banks have increased substantially in recent years.

Last year, Russian banks bought 205,155 tons of gold, which is 4.7 percent more than in 2016 (195.89 tons), and approximately 67 percent of all gold produced in Russia. This is also a 13 percent increase compared to 2013.

The biggest buyers are VTB24, Sberbank and Gazprombank. All three banks have registered at the Shanghai precious metals exchange. In April, VTB announced plans to sell up to 100 tons of gold to China annually.

According to the World Gold Council, the Russian Central Bank increased gold reserves by 163 tons, to 1,778 tons. Russia has almost caught up with China, which holds the fifth biggest gold reserves of 1,842 tons.

Russia is the world’s largest gold buyer, and the third-largest producer. Reserve diversification is one of the primary reasons driving Russia to buy gold, according to the Central Bank.

The cooperation between the High-Tech Park of the Azerbaijan National Academy of Sciences (ANAS) and the China-Russia Innovation Tech Park, which was established last year, is going to reach a new level. Azerbaijan’s High-Tech Park will create a portal that will become a platform for establishing business relations between Chinese and Azerbaijani entrepreneurs.

Employees of Azerbaijan’s High-Tech Park will visit the China-Russia Innovation Tech Park located in Yantai, China in January 2018 to thoroughly study the format of cooperation, the High-Tech Park told Trend on December 28.

Earlier, the management of the ChinaRussia Innovation Tech Park visited Azerbaijan’s High Tech Park, where the sides discussed prospects of cooperation between the two high-tech parks and signed a memorandum of cooperation.

According to the memorandum, the sides jointly implement scientific and technical

programs and innovative projects. Moreover, joint laboratories, scientific, technical and innovation centers are planned to be established, as well as mutual visits are expected to be organized.

The China-Russia Innovation Tech Park has rich experience of cooperation with postSoviet countries and offers residents joint innovation development in China. It has 350 residents, which work on the creation of new materials, biopharmaceuticals, integration of electronic and mechanical systems as well as highly efficient agriculture.

Cooperation between Azerbaijani and Chinese entrepreneurs was also discussed during the opening of a technology transfer center at the High-Tech Park in November.

The sides discussed the deployment of LED lamp and lithium-ion battery production in Azerbaijan. National entrepreneurs were invited to China to review the production capacities.

Armenia’s ministry of agriculture developing leasing program for small and mediumsized greenhouse farms Not European Style: There is an Option Company With Bad Reputation Can Take Control Over Electronic Excise Marks During a scheduled meeting of the Investment and Entrepreneurship Council of the State Fiscal Service (DFS) of Ukraine the acting head of DFS Miroslav Prodan pointed that the bill No. 6545-1 on the electronic excise marks for excisable goods has “extremely high priority”.

At the same time, the proposed “Automated system for controlling the circulation of excisable goods” is significantly different from the system being introduced in the EU member states in 2019. Excessive lobbying efforts of supporters of the bill (they propose to introduce the new system right in 2018) impose fears among foreign investors who invested billions of dollars in the areas subjected to the excise control. Even experts of the Leading Scientific and Expert Department of the Verkhovna Rada of Ukraine have clearly stated that “there are doubts regarding arguments in favor of the bill”.

The Ministry of Finance of Ukraine offered explanations of the main principles of functioning and objectives of the introduction of electronic excise marking. “The project proposes registration of bills and invoices of excisable

goods to be made in an electronic form to save time. The requirements of producers, importers and wholesalers to report to the authorities monthly about production or sales turnover of alcohol, alcoholic beverages and tobacco products will be revoked as the automated control system for control of circulation of excisable goods will provide the required circulation information of excisable products to the appropriate authority bodies.”

Business does not share this kind of optimism. For instance, the head of the Department of Business Competition of the Federation of Employers of Ukraine Olexandr Yavorsky believes that “the bill will not only significantly increase the burden on honest taxpayers, but instead of the purposed goals will cause an increase of shadow market turnover of excisable products.” He points that the automation of the system for controlling the circulation of excisable goods will live only on paper as the functioning of “the automated system consists in manual submitting of data into 15 separate fields of an excise tax document to be submitted on the day of sale/transfer of the excisable goods.

Armenia’s Ministry of Agriculture said today it is developing a leasing program for small and medium-sized greenhouse farms.

Minister Ignaty Arakelyan was said to have a meeting with owners of large greenhouse farms to discuss ways to solve problems in this area and look into development prospects.

“New and large greenhouses are being built in Armenia, and there is also interest in small and medium-sized greenhouses.

Last year, the government lowered the price of natural gas for greenhouse farms, and now we are developing a leasing program for small and medium-sized farms, in particular, to help them increase incomes and promote small family business,” Arakelyan was quoted as saying in a press release.

According to him, there is work underway for the creation of refrigeration facilities for proper storage of products for export.

The owners of the greenhouses were said to have voiced their concerns regarding the import of Turkish fruits and vegetables, laboratory tests of the quality of fertilizers and pesticides, training of quality specialists, and plant protection measures.

The meeting participants also emphasized the provision of agricultural loans at affordable interest rates.

Arakelyan was also quoted as saying that the ministry will develop programs to solve the existing problems and submit them for discussion by the government.

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February 5, 2018 #224

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 Kingdom of Spain Embassy Rustaveli Ave. 24, I floor, Tbilisi Tel: 230-54-64 E-mail: emb.tiflis@maec.esRomania Embassy 7 Kushitashvili St., Tbilisi Tel: 38-53-10; 25-00-98/97 E-mail: ambasada@caucasus.net Republic of Poland Embassy

Tbilisi Guide 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 European Investment Bank Regional Representation for the South Caucasus Address: 1,G.Tabidze Street, Freedom Square Phone: +995 322 006284

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

75 Agmashenebeli Ave. Tbilisi Tel: 577 18 27 87 Email: hostelmtevnebi@yahoo.com

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

Limelight Travel info Center 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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February 5, 2018 #224