Caucasus Business Week #228

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March 5, 2018 #228

March 5, 2018, Issue 228 - www.cbw.ge

Business Gambling Business in Georgia Reminds of Wet Market

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Interview When Things Go Viral - Interview with Brian Hallett

Nitsa Cholokashvili: “Successful project is the biggest adrenaline’’

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Pg. 8

Unclear Perspectives for Improving Situation on Pharmaceutical Market Our citizens and nongovernmental organizations always complain about expensive prices of medications and high profit margins. Medical expenses significantly exceed financial resources of an averaged family in Georgia and this burden aggravates the condition of our society, especially of the poor.

Currently, five major pharmaceutical companies hold 70% of the market: LLC PSP Pharma, (22.32%), LLC ABC Pharmacy (14.91%), LLC Aversi Pharma (15.54%), JSC GPC (10.20%) and LLC GlobalPharma (7.02%).

Therefore, Georgian pharmaceutical market may be appraised as a weak oligopoly. However, it should be noted that ABC Pharmacy and JSC GPC have merged and market competition was restricted more. As a result, risks of misuse of dominating positions have grown. On the other hand, merger of companies will enable to unite resources, optimize expenditures and enhance efficiency. According to official statistics by LEPL State Regulation Agency for Medical Activities, there are 2339 pharmacies in Georgia, including 1018 ones in Tbilisi and 1321 branches in regions.

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Consumer Loans’ Interest Rates Rise

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“The banking sector should have real competitor on the financial market to make a growth in loan interest rates unnecessary. Interest rates on 1-year consumer loans rose to 18.55% from 17.8% in the fourth quarter of 2017, while the figure declined to 17.8% from 19.9% in the same period of 2016. Interest rates comprise all categories of loans, including secured loans. Interest rates of unsecured loans has risen to 20.07% in the last quarter of the reporting year (01.01.2017 – 18.8%).

The statistics does not comprise dynamics of price of online loans.

Market rates on credits, for which the National Bank has set 100% top margin, are lower than the top margin interest rate. The annual effective rates are about 91%-99.7%.

Liberty Bank has more option. The bank issues both 6-month and 12month loans with annual 93.3% and 98% effective interest rates, respectively. Liberty Bank issues loans of about 2500 GEL. Bank of Georgia and TBC Bank issue only 1-year loans of about 1500 GEL. VTB Bank also offers similar loan product – 1-month loan of about 300 GEL with annual effective rate of 99.03%.

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Newsroom

2 Government

Korean corporation SKE & C interested in investing in Georgia

The Korean side was interested in free trade agreements of Georgia that enable export of products produced in Georgia in preferential terms. Another sector, the Korean businessmen focused on, was the industry of hotels.

The Results of the Program Enterprise Georgia

As for the February, 2018 within the frames of State Program “Produce in Georgia” Enterprise Georgia supported 337 businesses, with total investment value amounting to GEL 820 million and more than 13 500 new jobs created.

economy

Georgian Economy Increased by 4.4% in January

According to the preliminary estimation of Sakstat, the estimated real Gross Domestic Product (GDP) growth rate in January 2018 amounted to 4.4 percent y-o-y.

Georgia to Pay 6.64 MLN of Kazakhstan Debt This Year

According to abctv.az, 6.64 million USD of the debt will be paid in 2018. Transaction of the sum will be made in 4 tranches. Georgia must pay the first tranche – 1 653 240 USD on March 1.

banking

Banks’ Monthly Profit from the Currency Sale

In particular, net profits / losses of banks from the currency sale/ purchase amounted to GEL 27,342 million in the previous month, while in the same period in 2017 it was 17,866 million.

Profitability of Microfinance Institutions Down 242%

There are 72 MFOs in Georgia, their interest expenses made GEL 112 million, of which 31 million were paid by private investors, 26 million- by commercial banks, and 27 million - by other financial institutions and the received funds were spent on lending.

business

Beer Imports Grow in Georgia

Beer imports to Georgia has almost doubled over the past 5 years. Geostat, national statistics service of Georgia, told BMG that beer imports has risen by 45% as compared to 2013, and totaled 11.3 million liters, while the figure was 7.8 million liters in 2013.

Cooperatives Attracted 32.2 Million GEL Last Year

in the report of 2017, the number of beneficiaries combined in cooperatives is 11 664 and the attracted capital is 32.2 million lari. Mobilized land area is 16,941 hectares.

company

New Enterprise Opened within Enterprise Georgia Programme

Dimitri Kumsishvili, officially opened “Polymer 1” Ltd on February 28, a corrugated pipe manufacturing plant supported by the Agency “Enterprise Georgia”.

March 5, 2018 #228

Georgia’s Population Incomes Figures and Statistics

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akstat data show that in a country with a population of 3, 7 million people, only 1, 18 million people have declared income, of which 20% earn less than GEL 100 per month.

The number of citizens earning more than GEL 5000 per month is very modest, only 0.62% of the total population. Those whose income is GEL 10,000 or more can be counted on fingers only - 0.

25%.

At the same time, Georgia has a high level of informal economy - market traders, taxi drivers, representatives of other small professions that are officially exempt from taxes and are not registered anywhere.

According to the Statistics

Office, 1,7 million people are employed in Georgia, an official salary have 747,000 of them and it turns out that the rest over one million people have no income at all and can formally be considered unemployed.

Statistics define this category of the population as selfemployed, 80% of them are residents of rural areas who are considered to be employed because they have land plots and receive crops. Most of them either do not get any income from this work and actually live in a subsistence farming, or receive very low incomes.

Despite this, statistics consider them self-employed.

Statistics illustrates that in 2017 about 230,000 Georgian

citizens got up to GEL 100 per month, 125,000 people – GEL 100 - 200. only 9,600 of Georgian citizens can be considered the wealthiest with an income of GEL 10,000 a month.

Statistics also show that there is almost no middle class in Georgia which is typical for poor countries.

From 2009 to 2018, the country recorded some positive trends in the distribution of income.

The number of citizens with declared incomes has increased; a redistribution of the poorest part of the population to a relatively prosperous with a monthly income of GEL 600-800 per month is also observed.

In January Exports Rose by 26%, Money Transfers Grew by 31% and Tourists Inflow Increased by 23%

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he first month of 2018 has brought positive tendencies for Georgia economy. After the 2015-2016 slowdown, the year of 2017 started with growing indicators and these positive trends were especially enhanced in January 2018.

In the reporting month Georgia’s foreign trade turnover constituted 816.6 million USD (excluding undeclared trading), up 20.2% year on year, including exports marked 222.7 million USD (+26%), and imports constituted 539.9 million USD (+18.2%). Georgia’s negative trade balance in January 2018 made up 371.2 million USD, 45.5% in foreign trade turnover.

In the same period, exports without re-exports marked 167.5 million USD, up 16.8% year on year.

It should be noted that the January 2018 exports of 222.7 million USD is the best indicator over the past 6 years. In the reporting period copper ores and concentrates ranked first in Georgia’s exports items and totaled 34.1 million USD, 15.3% in total exports. Ferroalloys exports constituted 27.3 million USD, 12.3% in total exports.

Motorcars ranked third with 15.7 million USD, 0.7% in total exports. In January 2018 wine,

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gold, oil products, medications, mineral waters and other items were also recorded in Georgia’s ten top exports products.

Money transfers in the reporting period made up 110 million USD, 280.3 million GEL, up 31.1% (+26.1million USD) as compared to January 2017.

Ratio of 12 major donor countries in Georgia’s total money transfers accounts for 90.4%.

Money transfers from each of these countries exceeded 1 million USD. The ratio was 90.8% in January 2017. In the reporting period, 15 million USD was transferred from Georgia abroad (38.2 million GEL), while the figure made up 13.3 million USD (36.1 million GEL) in January 2017.

As to tourism sector, in January 2018, international visitors inflow rose by 14.8%, tourist inflows rose by 23%. In the reporting month, 444 421 international tourists visited the country, up 14.8% year on year.

Total number of tourists, who stayed in the country for more than 24 hours made up 189 476, up 23% year on year.

Major number of tourists was recorded from Azerbaijan (+0.8%), Turkey (+20.1%), Armenia (+20.1%), Russia (+14.6%) and Iran (+92.4%). Positive trends are maintained from EU coun-

tries: Czech Republic (+59%), Latvia (+46%), United Kingdom (+31%), Netherlands (+28%), Lithuania (+16%).

Tourist inflows particularly increased from Kuwait (+131%), Saudi Arabia (+127%), Iran (+92%), Israel (+77%), India (+48%) and Turkey (+20%).

National Tourism Administration says that the current year will bring record indicators in various directions. Georgia is expected to host more than 8 million tourists in 2018 and revenues are expected to exceed 3 billion USD. These indicators prove that the current year has started with positive tendencies. GDP growth indicators for January have not been published yet

by Geostat. Therefore, effect of these indicators on economic growth will be clarified later. It should be noted that in 2018 government of Georgia expects 4.5% upturn in Georgian economy and the state budget was planned at this indicator.

As a rule, the month of January, February and the first quarter of a year demonstrate positive tendencies in our economy. The time will show whether Georgian government manages to maintain these positive tendencies. Anyway, the start encourages all of us.

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

March 5, 2018 #228

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Small Entrepreneurs to Enjoy Tax Preferences Companies with about 500 000 GEL Turnover will Pay 1% Turnover Tax, instead of 5%

Shota Gulbani president of Association of Young Financiers and Businessmen (AYFB)

Merab Janiashvili Economic Analyst

If government of Georgia does not pay due attention to resolving the mentioned challenges, only tax cuts cannot improve the current situation and we will have to live in the economy of major businesses for many other years. As a result, inequality will increase and economic benefits will be distributed unequally.

Government of Georgia has decided to alleviate taxation regime for small entrepreneurs: the turnover tax will be lowered 5 times. The current 5% tax will be reduced to 1%. Moreover, criterion for determining the size of an enterprise will also change. Today, small entrepreneurs are companies with turnover of about 100 000 GEL. After introduction of the preferential regime, the top margin of turnover tax for small enterprises will rise to 500 000 GEL. Besides reduction in turnover tax for small business, Government of Georgia has announced other changes too. New tax initiatives will refer to about 120 000 small entrepreneurs. Objective of the initiative is to promote a development of small and medium entrepreneurship in Georgia so as the ratio of small and medium businesses grow in total economy, Minister of Finance Mamuka Bakhtadze noted. Moreover, Government also plans to abolish an obligation for additional bookkeeping and advance payments. One of the initiatives calls for exempting airplanes maintenance services from VAT on the territory of Georgia. Government of Georgia plans to promote re-exports of vehicles. Moreover, deadline for implementing profits tax reformation will be extended to January 1, 2023.

Government of Georgia announced a development of small and medium business sectors as a priority direction in 2016, when it approved a four-year strategy for development of small and medium entrepreneurship. Objectives of this strategy: 1) Annual output of small and medium business companies shall increase by averaged 10% by 2020; 2) Number of employees at small and medium business sectors shall increase by annual 15%; 3) Productive capacity shall increase by 7% as of 2020; According to Geostat, national statistics service of Georgia, in 2016 the ratio of small and medium enterprises in total turnover was 9%-9%. The situation did not change essentially in January-September 2017, while the international practice shows that small and medium business is a locomotive of economy in the developed countries. Government of Georgia hopes that lower tax burden will radically change the current situation.

‘We believe that this reform will essentially alleviate the condition of small entrepreneurs. Tax burden will be essentially lowered and new entrepreneurs will be incentivized”, Prime Minister Giorgi Kvirikashvili noted at the February 15 government meeting.

Economists positively appraise the new initiatives.

Alleviation of tax burden for small entrepreneurs has deserved particular approval. At the same time, we should know that only tax preferences cannot develop the small business sector.

“Economic success of any country is driven by small and medium business sectors. Small and medium enterprises shape more than 50% of the economy in the USA, which is a homeland of the world’s giant companies. I have no intention to diminish Government’s initiatives, but more fundamental changes are required for development

‘‘

“The banking sector should have real competitor on the financial market to make a growth in loan interest rates unnecessary. Interest rates on 1-year consumer loans rose to 18.55% from 17.8% in the fourth quarter of 2017, while the figure declined to 17.8% from 19.9% in the same period of 2016.

Interest rates comprise all categories of loans, including secured loans. Interest rates of unsecured loans has risen to 20.07% in the last quarter of the reporting year (01.01.2017 – 18.8%).

The statistics does not comprise dynamics of price of online loans. Market rates on credits, for which the National Bank has set 100% top margin, are lower than the top margin interest rate. The annual effective rates are about 91%-99.7%.

Liberty Bank has more option. The bank issues both 6-month and 12month loans with annual 93.3% and 98% effective interest rates, respectively. Liberty Bank issues loans of about 2500 GEL. Bank of Georgia and TBC Bank issue only 1-year loans of about 1500 GEL. VTB Bank also offers similar loan product – 1-month loan of about 300 GEL with annual effective rate of 99.03%.

The Banks&Finances has asked Shota Gulbani, president of Association of Young Financiers and Businessmen (AYFB), to comment on these issues.

National Bank of Georgia (NBG) has taken a right decision by imposing 100% top margin on fast online loans. This decision has considerably alleviated burden on borrowers, as compared to the earlier interest rates, Shota Gulbani noted.

“Grave social conditions have made a lot of citizens to take fast online loans. Consequently, this category of borrowers had to agree on unusually high interest rates, because they do not have an access to other financial resources. Annual effective interest rate on similar loans frequently exceeded 1000%. Therefore, NBG decision should be appraised as delayed, because a lot of citizens bear losses from online loans and they are included in the negative credit database.

As to interest rates on GEL-denominated consumer loans, they make up annual 28% on average for physical bodies and 11% for legal entities. This signifies that the finance sector is oligopolistic, because Georgia has one of the highest interest rates in the world.

To prevent a growth in interest rates, it is necessary that commercial banks have real competitor on the market.

Otherwise, artificial regulation of interest rates will bring more negative outcomes”, Shota Gulbani said.

‘‘

Consumer Loans’ Interest Rates Rise

of small and medium business sectors”, economist Vazha Beridze said.

Access to financial resources and qualified workforce are fundamental problems and our economy cannot be developed without tackling the mentioned problems, Vazha Beridze noted.

“Restricted access to finances and unqualified workforce are fundamental problems and we should not dream of economic development without resolution of these challenges…In Georgia there are no other structures for redistribution of financial resources, except for commercial banks.

We have the sharpest problems in his direction, but our efforts for improving the situation are not sufficient. In general, I think our appraisals are exaggerated in relation to tax issues. Only low taxes and simple code cannot ensure economic success.

Those, who think so, diminish economics, as a science. Taxes are important only in combination of other components. Trust me if we remove all taxes without making financial resources accessible and enhancing education, economic situation will not change essentially. If a person lacks for business doing skills and has no access to financial resources, tax preferences cannot alleviate his condition”, Beridze said.

Economist Soso Archvadze also appreciates tax preferences for small entrepreneurs. The Government’s initiative will boost entrepreneurship activities and in the course of time, this decision will enlarge the added value and create new job places.

As a result, the state budget will mobilize more revenues. At the same time, it would be better to differentiate taxes due to fields and set preferences to manufacturers of agriculture products, Soso Archvadze said.

The recently appointed Business Ombudsman of Georgia also makes emphasis on the development of small entrepreneurship.

“I think special regard should be paid to small business companies, because many business bodies operate in this sector. Naturally, all problems and issues are accumulated in this sector, which may be readdressed to various state offices”, Irakli Lekvinadze said.

A major part of economists hail tax burden alleviation for small business sector. At the same time, another aspect is whether these changes suffice to make small and medium business companies successful. If we name all problems that small and medium entrepreneurs have been facing for many years, tax burden will not be mentioned in top three challenges. The sharpest problem is related to a restricted access to financial resources, as well as invaluable economic education and limited competitive environment.

If government of Georgia does not pay due attention to resolving the mentioned challenges, only tax cuts cannot improve the current situation and we will have to live in the economy of major businesses for many other years. As a result, inequality will increase and economic benefits will be distributed unequally.

“The initiative will come into force in July. I believe these amendments will bring important preferences for entrepreneurs, physical bodies, who have manly engaged in trading. Technical part is also important – if they had to carry out difficult process of bookkeeping, now they will be able to enjoy 1% taxation regime and only fill out declarations. These changes do not refer to VAT. Companies with more than 100 000 GEL turnover will pay VAT anyway. Preferences will be applied to the part of revenue or turnover tax”.

Irakli Lekvinadze Business Ombudsman

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interview

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March 5, 2018 #228

When Things Go Viral - Interview with Brian Hallett nutsa galumashvili

We sat down with Brian Hallett, professional photographer imagemaker, and IE Professor to learn more about what makes online branded and campaigns go viral.

- On the Masterclass you talked about viral content one of the most mysterious and misunderstood aspects of the entire digital revolution, what do we mean when we use the term “viral content”?

- When we talk about commercial Viral Content which is a very specific kind of information flow, it’s not the content itself, it’s actually how the content is shared, so when we say that something goes viral it basically has four characteristics, one is that it is shared among many users, for example, if Beyonce posts photo and she has 100 million followers and two million of those followers like her photo that’s not actually viral event, because it’s not being shared, that’s a popular event, so we should distinguish what’s popular and what’s viral. First of all, it has to be shared which is an important aspect. The second aspect is that it has to jump from network to network which means that it is actually shared across many different networks, third characteristics show that virality is not about numbers. You can have a viral event that has ten thousand views or can have a viral content that has 10 million, you can have a viral event in Tbilisi or a global viral event, and they both have same characteristics. The other thing that viral events do is that they tend to be very fast, in other words, they reach what’s called diffusion which is where you get enough people sharing it and it explodes very fast, so most viral events actually happen in a very short period of time.

- What factors play the important role in creating content that generates social media interest?

You know we use the term disruptors; disruptors are the people who do things in new and surprising ways and so it does not mean necessarily you do something completely innovative, it’s not only that.

It’s doing something that we traditionally are making one way and we then find completely new, surprising way. I use word surprising because I think that one of the things that make human beings interested is the thing that surprises them. If something is too surprising, too different we do not understand it, because it’s too shocking.

So there’s a combination of something that is familiar to us but is done in a new way and I’ll give you an example, yesterday I was in Kiev, Ukraine and went to the place called UnitCity, they have a school where they are teaching coding, application design, and other different subjects and they have told me they have seven hounded students no teachers. Students carry out projects proposed by the pedagogic team and are free to organize their own time. The schools are open 24/7. Students help each other and use the Internet for their projects. For me, this information was completely disruptive and here I am sharing with you, this is what happens we see these remarkable, disruptive events, products and we want to talk about that. And why?

Each of us is brand, each of us has presentation of self which is what we want to share with the world and so why do we talk about certain things, you may be interested in certain subject or matter, you may be interested in journalism or psychology, for example, you have your own brand, So what happens is, that I’m going to share particular kind of content which shows who I want to be to the world. So, social sharing is really about a presentation of who you are. I think those are some of the factors I look at sort of disruptive and surprising events and thinking of doing things in a new, different way, that’s the key, how these things work.

- What is the most important thing that someone should consider when creating viral content?

When we are creating content, we often create it for the audience and the difference is that when you create viral branded content, you do not want to think about the immediate audience, if you create something only for one particular audience, what happens is that people will see it and they might like it, so why would they share it?

All you need to do is you need to not create things just for your audience you need to create things for audience’s audience, and your audience’s audience’s audience so you need to think beyond just the immediate audience you have, you need to talk about who their audiences are, if I show you something you might think that’s really cool and you like it, but you are going to share it with your audience if you believe your audience is going to find it interesting. And the same thing happens to them, and that’s how the spreading occurs.

Sometimes in international broadcast advertising, when we are creating something for television, print, radio or outdoor advertising, we are having a specific audience in mind. For example, we are going to create clothing detergent advertising and there is a soap opera at 4 o’clock and we know that women between the ages 34-45 will be watching this particular advertising – this is a traditional way of thinking. They will be watching the show and so we will make this ad and show it to them, there was no need to share it, they might talk about it, which means we might be able to create word of mouth (connections) but what happens today, when I would like to create the viral event I need to think about of myself, I am going to create something which particular segment or society would watch, but I need to create something that they would actually share. Now, who is their audience? Well, their audiences are other women, their friends, family, and connections. You need to think beyond what we think of in terms of traditional advertising.

- When we are creating some content and publishing it on our platforms, Why do some ideas spread overnight while others simply disappear?

That’s the big question, I compare it to predicting earthquakes, in the other words we know earthquakes will happen and we have some idea about where will they happen, but predicting exactly where, when and why earthquake will happen is almost impossible. Because there’s sort of the chaos theory involved, you’ve got such a complex environment that’s almost impossible to make predictive assessments and yet when something does happen we can look at it and we can trace it back and we can discover how it happened but it’s extremely difficult.

You can have a hundred pieces of content which are essentially same and only one of them goes viral, why does it happen? It has to do with many different factors one is content itself and the form of the content, but then the other thing is the context. In other words, we have to be aware, when was it launched, what else was going in the world that exact moment, was it somehow related to other triggers, social triggers that were happening in that exact moment.

Take #metoo movement, for example, we say why did that movement go viral when it did, because people have been talking about sexual harassment for years and for generations, so why did that happen right now?

Let’s take the gun movement in the United States, something is happening right now. There are some disruptions that have caused the situation to reach a certain inertia, where a bunch of young school kids has finally stood up and said “enough is enough” but there were some social factors, there was timing, there was Trump, there was some complex chaotic combination of events.

People have been trying to make this issue take hold for years why did that happen now? What were the factors, there was context, there was politics, timing I do not know the time of the year where it happened, who was involved, it’s really very sort of a complex set of factors and again it is a matter of a certain amount of inertia, in the other words something builds and builds and then finally explodes, why it’s going to explode?

Difficult to say.

Let’s take Georgian wine as an example, Georgian wine is waiting to explode, it is waiting for the right mechanism, the right trigger, the right story, the right content. Something is going to happen and Georgian wine is going to become a global phenomenon, when is going to happen it is tough to say. However I have an idea, for Georgian wine, I was talking to someone today about the Georgian wine and they said the Georgian wine is kind of a secret and nobody knows about it, as Georgian wine is as good as Italian and French wines, but it’s a secret and they said “we do not know how to properly advertise it” my answer was why does not Georgia do a campaign as if Georgia was trying to keep it a secret, so be disruptive and say do not tell anybody about Georgian wine, so the whole campaign could be based around this idea of keeping in the secret. Maybe it needs some trigger, some disruption which is suddenly going viral. Somehow somebody has to twist it in the right way we call it “becoming sticky”, we need to somehow make it stinky enough.

- How do I get people to respond to my message and then pass it on?

I would say that there are three basic techniques we use, there’s an emotional trigger, we respond to things that resonate with us emotionally, Second is information, it can be novelty, surprises, joy, humor, and finally we can use context, by using that, we use the word salient and it means— Thing that is actually interesting right now, so we can divide up those three areas and say, can I make something that’s emotional and people would really respond to it emotionally.

In terms of the information, can we do something surprising or unique or humorous, that would kind of takeoff and then finally when do we do it?

Can we somehow link it to sort of social context?

- Viral Contents are not always positive, for instance, one Youtube star posted a video showing suicide case in Japan and it went viral.

How can we prevent such things?

I would say that in a most basic sense, nothing is private anymore we are all kind of warriors of the world, so this idea that I can get away from things is gone, and the only thing I can say is that people who do have a lot of exposure need to remember that whatever they do could end up being public.

Parts of what happening with this new social environment is that we are becoming more observed and so maybe we need to be more careful.

However there is a story of football player that used his influence to change something, a few years ago José Gutiérrez “Guti” has said that he doesn’t recycle glass as he considers it to be a waste of time. On his Twitter profile, the footballer said “Do you waste time recycling glass? I don’t”. Actually, this was part of his campaign to promote recycling. He used his negative sort of commentary to make a point.

- What kinds of content do we simply view, vs the content that we like or share?

When we view content we are all gatekeepers, we watch content basically to judge it and largely I think it depends on where the content comes from.

The more we trust the source of the content the more likely we are to view it. And so if the content comes from a reliable source or it comes from a friend, you are much more likely to view it. But it depends on different factors, such as content form, context, political stands, ideology and etc.

But sharing is absolutely about personal presentation, you are never going to share anything that would damage your image of the brand as a person.

Sometimes you post something and five minutes later you go “oh no” like my work colleagues, family and my friends will see it or people are not going to understand what I said or maybe I was too aggressive in my comment and then you delete it.

We are constantly creating our own virtual persona, I think that sharing at a personal level is very much about creating your personal brand. And when you talk about gatekeepers like Huffington Post is driven by advertising, they are constantly creating very shallow content, titles sound great but the content is shallow. And what’s fascinating that people actually respond to that and share those things.

- What does the future hold for online viral content?

If I knew that I would be sitting in my mansion in Malibu, California looking at the ocean.

I think one of the trends that are going to really continue to grow is usergenerated content, we are all becoming better photographers and better videographers and our ability to create content at the individual level is growing and there are brands that are really tapping into this idea, that their clients can also generate content and I think it is a really powerful form. The Internet is anyway pretty narcissistic. There is a statistic in a typical social conversation you might talk about yourself about 30 percent of the time, whereas online you talk about yourself about 80 percent of the time. So the nature of the sharing that what happens online tends to be pretty narcissistic and I think that generating content and creative content is going to get easier and easier at some point it might be what we are moving towards, in future cell phones might disappear and what are going to end up with our chips in our glasses. We used to have movie theaters and it came into our cell phones, there’s going to be new ways of not engaging with the technology and the way we engage with technology will also drive kind of content we produce.

Augmented reality is going to be next big thing.

How far is that? I do not think it is far away.

March 5, 2018 #228

business

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G

ambling business is one of the most profitable sectors, but it also comprises serious threats for ordinary citizens. Specialists assert that gambling business is growing at high paces in Georgia. In pursue of technological progress, this sector penetrates new and new social circles and various geographical locations.

Several years ago, gamers had to physically visit gambling venues, while, today, personal computers with the internet suffice to sink into the online gambling world, without much effort and without leaving home.

Several days ago Minister of Finance Mamuka Bakhtadze also commented on this issue. I hope the gambling business sector in Georgia will be developed and it will attract gamers from other countries, the Minister of Finance noted for the 360 Degree TV program of PalitraNews TV company.

The Minister also overviewed the bill submitted to the Parliament. The package of reforms perfectly responds to all challenges, Bakhtadze noted.

«I hope this sector will be developed to the level, when gamers will arrive in Georgia from other countries. We want the reform to civilize this business sector, where human rights will be protected and underage persons will be kept away from this sector. Our objective is that people not lose the amount of money that they are not able to pay.

At the same time, we should understand that this sector makes serious contribution to the state budget and this package of reforms valuably responds to the challenges for human rights protection, on the one hand, and making this sector more transparent, on the other hand.

By the end of 2018 we will introduce a new component to collect information on the sector turnover, Bakhtadze said.

It is easy to make the gambling business more transparent by use of international experience, Andria Gvidiani, analyst for Association of Young Financiers and Businessmen (AYFB) noted.

Today, gambling business in Georgia reminds of wet market, Gvidiani said.

The gambling business turnover grows year to year; however, fiscal effect has not increased. The online gambling space grows along with expansion of the internet coverage zone, Gvidiani added.

«Thus, it is relevant to set certain frames, introduce certain regulations.

There are many directions, which should be regulated. First of all, age limit, identification. There are many unregulated directions that comprise many risks», Gvidiani pointed out.

Involvement in the online space without personal identification contains money laundering risks, drug trade and so on. Therefore, it is important to eradicate these problems and the legislative body should introduce regulations approbated on international level, he said.

The gambling business should be

Gambling Business in Georgia Reminds of Wet Market It divided in two parts: online space and real sector, Gvidiani pointed out.

«The statistics shows that online sector development narrows the ratio of real gambling venues proportionally. This is unjustified in terms of fiscal and infrastructural and tourism aspects.

Real gambling business development will bring more benefits to the country, as compared to online sector, because the latter is free of special taxation regimes and they are taxed as ordinary LLCs, while real gambling business is subjected to strict fiscal pressure and consequently, it is more beneficial for the Government», Gvidiani noted.

Development of real gambling houses will also develop tourism sector, he added. «Developed gambling business in this or that country ensures comfortable environment for tourists.

sector development outcomes, because its scales are impressive.

Government has taken worthy steps for the gambling sector development. Initiatives for the sector transparency, human rights protection, restriction of underage engagement, prevention of insolvency will foster a formation of the civilized business sector, doctor of economics Rati Abuladze noted.

Amid the current social and economic problems Government’s attempts to count on gambling business development will not bring either political or social effect. It should be taken into account that: - it is not academic to talk about economic dividends of the gambling business amid the current social and economic challenges.

It is not rational to draw parallels between the gambling business development and the state economic development.

- Ethical aspects should be also taken into account when inviting gamers from other countries; - By developing the gambling business and by drawing gamers from other countries, the country acquired the function of a hub of gambling gamers rather than the reputation of a strategic and strong country in the region.

Finally, if the political and governing chain had made the same accents on its own society (science, experts) and employment of the country resources, social-economic problems would be resolved.

Tourism business expert Shalva Khutsishvili noted that it is very attractive that Georgia offer modern, refined and international standard gambling business services to citizens of the countries, including our neighboring countries, where similar games are restricted.

Entrance of international brand casinos will make effect on economic situation of the country, because revenues will multiply more, Khutsishvili noted.

«As to another factor, control over this business and government interference may bring undesirable outcomes. Consequently, specific business bodies may hide or distort certain information», Khutsishvili said.

is easy to make the gambling business more transparent by use of international experience

Therefore, we should not think the sector is developed for Turkey or Azerbaijan. In general, along with tourism sector development, the more services are developed in the country, the more benefits the country will receive», Gvidiani said.

The current developments show that in trying to tackle global and local problems, Government of Georgia makes focus on deepening economic and partnership relations with other countries, taking credits and grants, on cooperation with international organizations and foreign experts, takes into account the role of tourists and tourism

PR Person

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“Successful project is the biggest adrenaline’’ - Why did you decide to enter this field, and what kind of opportunities does this profession give you?

I’m a sociologist by profession, I graduated from Tbilisi State University, although I happened to enter Television while on the 2nd grade, and I’ve been involved in TV-journalism actively until 25 years. Being a news reporter is a kind of adrenaline, that’s hard to give up on. Time has come when I decided it would be interesting to develop my career in a different way.

By that time, in 2001-2002, discipline of public relations was trending. I had to deepen my knowledge, so I did diploma course at London PR School (LSPR), where we studied integrated marketing communications based on successful companies’ examples. The course was attended by such big companies’ representatives as ‘’Nestle’’ and British banks. After graduation, I actively entered this field. First it was Ministry of Foreign Affairs – 6-months experience.

Currently I work for IDS Borjomi Georgia. This stage is ongoing for 12 years. At various stages I used to read lectures - Writing PR, Strategy and Tactics; Crisis management. I am very interested in what I do, especially its diversity.

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

Sincerity, being in a dialogue regime and sharing the topics that interests target auditory.

- What three tips would you offer someone just starting out in PR?

Interview with Nitsa Cholokashvili, Head of Public Relations Department of ‘’IDS Borjomi Georgia’’

PR is a discipline, for which it is necessary to be educated in many respects in order to manage efficiently, you need to have huge information, both of current events in open source, as well as offstage. You should not be limited by the news that is ongoing around company’s segment. This is a profession where the general news matter: what is happening in the country, what dynamics are in the economy, what’s new in tax terms, what Parliament discusses and so on. You must be constantly be aware of all the news and you have to love people and relationships with them. You will need the ability to make a decision quickly and if you need to revise this decision in the middle of the path, to be able to review the strategy.

- Describe a typical work week.

Always active – projects, meetings, presentations, conferences. Successful project is the biggest adrenaline. Defining success is very simple today – social networks allow us to catch up with customers’ reactions.

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

I always suggest my students never to be lazy to attend events, presentations, be active, meet new people and spend time with new friends.

It’s simple, especially when you’re young and don’t have much family responsibilities and you’re free to manage your own time.

- How would you prioritize and start your work day?

I feel like I’m a maniac, but once I turn off the alarm I start watching the news, Georgian, as well as international.

- What are the skills Public Relations Specialist need?

A lot of skills, one should be multilateral educated, be able to manage time. Taste is a subjective thing, but one who works in marketing and PR needs well developed, sophisticated taste. A skill to communicate with people is also very important, you should differentiate important and non-important, and this list can be very long.

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

Faith. When a person can move the mountains to achieve the goal. Sincerity, Faithfulness to his job and friendship.

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

Relationships – human relationships.

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

Corporate social responsibilities projects become more and more popular in Georgia, that’s not trendy in the world anymore because in the rest of world it is important direction already. We know that digital is a trend. Influencer marketing is trending too. Long story short in a short (?) , immediate relationships between brand and customers is a foundation of quick responds and sincere relationships.

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travel in georgia

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business

10 Gruzin’s Khinkali Themed Branding – Georgian Cuisine at Restaurant in Belarus

Georgia’s First Plant of Seedlings Launched Operation

Pocket Rocket Creative worked on the Belarus restaurant Gruzin’s branding, which offers Georgian, national cuisine.

The idea of ​​a new packaging came up after “Gruzin” decided to offer fast food to costumer. The main character of the new design became a Mascot inspired by Khinkali: “We developed a design system that reflects Georgian hospitality in a contemporary and emotional manner. The local typography on the logo was created using traditional ornaments. Our mission was to create a visual communication with the costumer, which presented traditional food in the context of the great city. “- said at the company to Marketer.

Moredash Showroom to Expose Works of Eight Georgian Designers From February 28 to March 6, with the support of Enterprise Georgia agency of Ministry of Economy and Sustainable Development, Moredash showroom in Paris will expose works of eight Georgian designers.

The event, which is held four times a year as part of Paris Fashion week, is one of the large-scale events and it hosts about 100 companies, 130 famous buyers and media companies from all over the world. The following Georgian brands wuill be exposed at the showroom: “N-Duo”, “Dalood”, “Anouki”, “Tamuna Ingoroyva”, “Lako Bukia”, “Brand Lalo”, “Materia Tbilisi”, Ltd “Lya”. Representatives and designers of all brands will be able to introduce their products to the Buyers, establish business contacts with potential customers and popularize the exposed products and ensure their sales on international markets

Winemaker Iago Bitarishvili to Launch Beer Production Winemaker Iago Bitarishvili plans to launch beer production. The businessman has already arranged family brewery in the village of Chardakhi to popularize family beer production in Georgia like family wine cellars. Beer production will be of less output, compared to wine production. The product will be exported to foreign markets, he said.

The businessman will apply Georgian cereals for beer production. “Today everybody are proud that they use Belgian or other foreign malt in beer production, but we will use Georgian cereals. We have already searched several domestic varieties of barley in Khevsureti, We plan to restore them and then prepare malt”, Iago Bitarishvili said.

March 5, 2018 #228

Mza Chitili (Ready Seedling), Georgia’s first seedlings plant, has opened with the support of TBC Leasing. The plant is equipped with cutting-edge technologies and equipment. The company enables farmers to receive more harvest with less expenditures.

The hothouse is located in the village of Azizkendi, Marneuli District, on 1.1 hectares and produces 30 million vegetable and flower seedlings a year.

Previously, Georgian entrepreneurs had to buy required seedling abroad.

Total financial support from TBC Bank exceeded 1 million GEL. “I am happy that the first seedling enterprise has opened in Georgia.

Our objective is to introduce newest technologies and simplify harvesting process for Georgian farmers.

Taleb Says High Bankruptcy Rate Is Good Economic Sign The author of bestsellers Black Swan and Antifragile talked about why Silicon Valley is more successful than the banking sector and why business collapses are an indication of a healthy economy.

“Fighting stress both from inside and outside, the Silicon Valley businesses learn from their mistakes in their early days,” said Nassim Nicholas Taleb, an American publicist, economist and trader, at Synergy Global Forum.

As an example, he mentioned a technological crisis that hit North Carolina in 2000. As surprising as it may sound, the crisis had a positive impact on the industry. “The market imploded, and many people have lost their jobs. At the same time, the crisis has revitalized Silicon Valley and the high-tech sector in general,” Taleb added.

Another interesting thing about Silicon Valley is that it has the highest bankruptcy rate in North America.

“Some may think that it’s a very bad thing. But it’s not true. You must make mistakes as early into the process as possible. This is how you learn.” Furthermore, bankruptcy rate is a strong sign of economic health across different countries. “A system with a low bankruptcy rate won’t last long as it’s artificially isolated. It means that people aren’t trying hard enough to change and innovate things,” the speaker added.

Wrapping up his speech, Taleb added that collapsing companies are good for the economy as it’s getting more and more antifragile.

Nassim Nicholas Taleb will speak in Tbilisi on the 30 March with his lecture “Anti-fragility”, organized

by BBI.

Parker Georgia – Student Startupers’ Brand Inspired by Sarah Jessica Parker Kato Alania and Mariam Metreveli, 22, are the authors of the Georgian brand “Parker” inspired by afamous actress Sarah Jessica Parker. Marketer had an interview with the founders of the company: “Only a great desire became the foundation for the startup. At the beginning we did not think about doing anything other than sandals, but because of the fact that many customers have loved the parkers, we realized we could do more. “ What was the process of working on the brand?

When suddenly “Parker” came up, we didn’t consider thinking of other title, the name of the famous actress Sarah Jessica Parker, and this woman is one of the most tasteful in the modern world and is known of carrying the most beautiful shoes. She has her own, though completely different style shoes brand

line. I think it will be nice to enter international market with this name. The main concept of our product is simplicity and plainness.

It’s being done by experienced tailors by 100% natural materials, that means shoes is made with leather surface and lining.

Our advantage is quality and orientation to customers’ satisfaction. Their opinion is very important for us, at the beginning we used to encourage users to let us know if there was any fault in our service, I think it was a right approach.

We had it defined based on our knowledge at university.

We thought our product was affordable for middle-income people and used to boost social network posts considering age and location, although we became limitless, as our segment turned out quite wide. Nowadays, anyone who likes colorful, pretty shoes is our customer.

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CSR

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The Winners of CSR Award Georgia 2018 Revealed On February 23, 2018, Rooms Tbilisi hotel hosted Corporate Social Responsibility Award Ceremony. Initiated by CSR club and Global Compact Network Georgia, the CSR award competition was held in Georgia for the first time. 16 companies submitted 23 projects, which were evaluated by the independent and impartial jury consisting of national as well as international level professionals. As a result of the evaluations, three winner companies were named in three nominations:

CSR Award Appraisal Committee consisted of 10 members: Erika Kvapilova UN Women Country Representative in Georgia

Marcel Engel Executive Director, Global Compact Network Germany

George Welton Executive Director of American Chamber of Commerce (Amcham)

Mariam Zabakhidze Regional Fundraising and Partnerships Manager, WWF

Tamar Karosanidze Head of EWMI ACCESS

Sopiko Akhobadze Executive Director of REC Caucasus

Yvonne Gogoll Attaché, Thematic Sector Coordinator, Human Rights, Justice and Home Affairs, EU Delegation in Georgia

Natalia Jaliashvili Head of Human Rights Secretariat of the Administration of the Government of Georgia

Rusudan Tushuri Head of the joint projectof UNDP and EU- “Human Rights for All”

Eka Lomtatidze Constitutional Law and Human Rights Law Processor at Free University

Nomination: The Best Project in the Area of Human Rights Winner: APM TERMINALS POTI – Poti Seaport Project: Trainings for truck drivers on road safety issues In 2017, as part of UN Global Security Week, Poti Seaport launched large-scale project with the participation of 2279 truck drivers. The company shows high level of responsibility and is committed to maintain a safe and healthy workplace for employees and contractors, as well as safe living environment for the population of Georgia.

Nomination: The Best Project in the Area of Environmental Protection Winner: Natakhtari Project: Effective wastewater treatment procedure Within the framework of the project, the company runs high standard wastewater treatment technology, – a biological waste water treatment plant which processes the wastewater produced throughout the entire industrial cycle.

In addition, in 2016-2017, the company carried our trainings and awareness raising activities on wastewater treatment for the employees, local communities and other interested stakeholders. The company staff has also been involved in the tree planting project around the premises of the Natakhtari facility. The annual wastewater treatment facility utilization costs amount to 400 000 GEL.

Nomination: Successful Partnership for Sustainable Development (project jointly implemented by business and noncommercial partner) Winner: m2 Project: Restoration of Mtatsminda Forest The project aims to restore the burnt part of Mtatsminda forest and plant 3000 trees. The company will be financing a care costs for plants for 3 years. Jointly with partner non-governmental organizations the company is launching conflagration prevention campaign at public schools. The disaster risks reduction related project is being implemented at residential complexes of the company.

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world

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Huawei Unveils the HUAWEI Mate 10 and HUAWEI Mate 10 Pro

Turkey’s Treasury plans to repay $9.4 billion debt in March to May period Turkey’s Treasury will pay back 35.8 billion Turkish Liras (some $9.4 billion) of debt, 62 percent of which will go to external creditors, in the March-May period this year, the Undersecretariat of Treasury stated on Feb. 28.

According to the official plan, domestic debt redemption of 13.7 billion Turkish Liras (around $3.6 billion) is projected. Some 86 percent of this amount will be interest payments while the rest will be principal payments.

The Treasury will also repay 22.2 billion liras (nearly $5.8 billion) external debt in the next three months, including 16.4 billion liras (some $4.3 billion) principal payment.

The Undersecretariat’s domestic borrowing strategy revealed that the Treasury has projected 15.1 billion liras (around $3.9 billion) of borrowing, including borrowing from the domestic market through auctions and borrowing from public institutions. There will be no planned external borrowing.

From this March to the end of May, the Treasury will hold seven auctions to issue government bonds, the undersecretariat noted.

The HUAWEI Mate 10 and HUAWEI Mate 10 Pro are the first devices powered by the new Kirin 970 processor and deliver AI enhancements for a faster, more customized mobile experience.

The Kirin 970 is built using an advanced TSMC 10nm semiconductor manufacturing process, and features an octa-core ARM Cortex CPU, a first-to-market Mali-G72 12-core GPU and the first NPU designed specifically for a mobile device. The Kirin 970 also has a new dual ISP for AI-powered intelligent photography.

By combining individual and collective intelligence for on-device AI, the new HUAWEI Mate Series delivers real-time responses to users, including AI-powered Real-Time Scene and Object Recognition and an AI Accelerated Translator. Kirin 970 is an open, mobile AI computing platform for third parties to create new and imaginative AI applications and which extends Huawei’s processing capabilities to the entire value chain.

Azerbaijan fulfills all commitments on North-South transport corridor’s implementation

Armenia, Iran pledge to tap bilateral cooperation potential in trade, energy Armenia and Iran on Tuesday pledged to tap their bilateral cooperation potential in trade, economic relations and specifically energy.

“Armenia and Iran have not been utilizing the full potential of their cooperation,” Armenian Minister of Energy Infrastructures and Natural Resources Ashot Manukyan said at the 15th meeting of the ArmeniaIran Intergovernmental Commission held in Yerevan, reported local News.am Agency.

Despite the current good relations between Armenia and Iran and the high trade turnover between the two nations, which in 2017 amounted to 363 million U.S. dollars, Manukyan believed that enhancing trade and economic relations still requires more efforts.

Iranian Energy Minister Reza Ardakanian agreed with his Armenian counterpart.

“I am confident that the implementation of joint projects in the field of energy, particularly the construction of the third power transmission line between Armenia and Iran and also the hydropower plant in Meghri, would facilitate the development of business relations,” the Iranian minister was quoted as saying by News.am.

Armenia and Iran have a long history of cooperation in the energy sector with Armenia providing electricity in return for natural gas.

The economic blockade imposed on Armenia

by Turkey and Azerbaijan have left Armenia’s other two neighbors, Iran and Georgia, as Armenia’s only two land routes to the outside world.

The iconic devices feature a 3D Glass Body, beautifully and symmetrically curved on all four sides for an ergonomic hold. The back of the devices feature a reflective band design to highlight the New Leica Dual Camera. The HUAWEI Mate 10 Pro is also IP67 Water and Dust Resistant.

Huawei has again partnered with Leica to co-engineer the dual-lens camera for the HUAWEI Mate 10 and HUAWEI Mate 10 Pro. They combine 12-megapixel RGB + 20-megapixel monochrome sensors, Optical Image Stabilization (OIS), dual lenses with the world’s largest aperture of f/1.6, AI-powered Bokeh Effect and AI-powered Digital Zoom. New AI-powered Real-Time Scene and Object Recognition, which automatically chooses camera settings based on the object and scene, supports an advanced AI-powered Digital Zoom function with AI Motion Detection for clearer and sharper pictures.

Russia to the Rescue as Europe Draws More Gas in Siberian Chill Russia is sending more natural gas to Europe than ever before as a blast of Arctic air lifted demand for heat and electricity, underlining the region’s dependence on its eastern neighbor.

Daily shipments from Russia’s statecontrolled Gazprom PJSC skyrocketed to a record in February, according to the company’s data. Europe’s consumption jumped to highest level in at least five years during the week through Feb. 24, and this week’s cold snap drove demand higher still, according to estimates from London-based Marex Spectron Group Ltd. “We see the coldest end of the winter in years, and Russia is the first supplier with enough spare capacity to meet an extreme surge in demand,” said Giacomo Masato, a meteorologist at Marex Spectron.

The result gave Moscow-based Gazprom, which has been supplying the continent for decades, the perfect opportunity to crow about its essential role as Europe’s energy guardian.

“Only Gazprom is capable of increasing gas supplies to European customers to maximum levels at a breakneck speed,” Alexey Miller, the chief executive officer of Gazprom, said in a response to questions. “There’s no other supplier that could cope with the task.”

The freeze severely tested Europe’s en-

ergy network over the past week, with spot gas prices more than tripling to a record in the U.K. With a dissipating capacity to store natural gas and few tankers of the fuel in its liquid form arriving this season, the continent is dependent on pipeline supplies -- with Russia and Norway the two main producers.

Norway doesn’t have as much spare capacity as Russia, and some of its facilities, including the Kollsnes gas plant, were curtailed by outages during the peak of the crisis on Thursday.

Consumers also dipped into gas storage tanks in Germany at record rates to satisfy a surge in demand, according to research from Bloomberg New Energy Finance. Germany also took in more imports from Russia during the crisis.

“A low level of gas in storage can cause concerns about gas supplies, should another period of high demand occur before the end of the heating season,” John Twomey, an analyst at BNEF, wrote in a note. The supply crunch sent prices spiraling. In Britain, which is the secondbiggest gas consumer in Europe after Germany, prompt delivery prices reached a record. Shipments surged from two pipelines linking mainland Europe and the U.K. That prompted the grid to declare the shortage had eased, and it withdrew its “deficit warning” on Friday morning.

Azerbaijan fulfilled all commitments undertaken as part of the International NorthSouth Transport Corridor project’s implementation, Javid Gurbanov, chairman of the Azerbaijan Railways CJSC, said.

He made the remarks March 1 at a meeting with deputy minister of roads and urban development of Iran, Director General of Islamic Republic of Iran Railways Saeed Mohammadzadeh, the Azerbaijan Railways CJSC said in a message. At the meeting, the sides discussed construction of Iran’s Astara terminal, the transportation prospects along the Astara (Iran) - Astara (Azerbaijan) railway as part of the International North-South Transport Corridor.

Gurbanov said that the construction of the railway station in Iran’s Astara and the construction of terminals for unloading of cargo are being completed at the territory of 35 hectares.

Gurbanov also noted that Azerbaijan Railways and Islamic Republic of Iran Railways signed an agreement on the project “Construction and operation of the Astara loading and unloading terminal”.

According to the agreement, the Azerbaijan Railways CJSC leases a 1.4 kilometer-long railway line for 15 years, and a terminal for 25 years, he said, adding that the Astara (Azerbaijan) - Astara (Iran) international railway is planned to be commissioned in the near future.

During the discussions it was noted that the International North-South Transport Corridor will unite the railways of the Scandinavian countries, Russia, Azerbaijan in a single network.

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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 Pixel Center, 34, Ilia Chavchavadze Ave. 3rd floor Tel: +995 32 227 62 00 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 Oniashvili str. 24, Tbilisi Tel.: +995322 920398; Fax: +995322 920397 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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March 5, 2018 #228