Caucasus Business Week #233

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April 16, 2018 #233

April 16, 2018, Issue 233 - www.cbw.ge

Main Event New state program to support young entrepreneurs in rural Georgia Pg. 2

Business How SOCAR Monopolized the Liquefied Gas Market

Pg. 4

Ana Chkhaidze: ‘Creativity has always been valued in this field and it’s still important nowadays’ Pg. 8

Higher Fees on Building Licenses Will Raise Real Estate Prices

Tbilisi City Hall Will Spend Over 1 billion USD on Enforcement of Land Use General Plan Issues with the Tbilisi land use general plan have caused serious problems recently. Political, public and academic circles have been actively discussing this issue. There are many groups involved, and all of them agree that Tbilisi needs a development plan.

Last week, Tbilisi City Hall remarks were discussed in a public format.

The document prepared by the City Institute organization trigged serious confrontations. Opposition representatives aggravated the situation, while important issues like encroachment on property rights and financial-economic aspects of the document were left without due answers. Regarding this issue, the Association of Young Financiers and Businessmen (AYFB) has published its findings.

Neither City Hall nor the City Institute organization have answered how to change land zoning categories, what economic effects will result or what liabilities will arise for the municipal budget, the document says.

Pg. 6

“Georgian Banking System Hampers Economic Development”

Pg. 7

Georgian banking system frustrates economic development, Georgian Finance Minister Mamuka Bakhtadze said at TechnoPark, where a memorandum on implementation of digital Silkroad project was signed.

«Bank loans with high interest rates frustrate development of entrepreneurship and business. The Georgian banking system is to drive economy, not hamper it. Regretfully, in our country commercial banks do not fulfill this function», Bakhtadze noted.

“We see that the current interest rates do not provide opportunity for starting business”, the Minister of Finance noted. Government of Georgia plans to launch Startup Capital Supply Reform to expand access to money resources for small and medium entrepreneurs.

The reform calls for supply of interest-free startup capital to young entrepreneurs with the aim to develop entrepreneurship, especially startups.

Finance Ministry and Government of Georgia have developed small entrepreneurship promotion initiative, Mamuka Bakhtadze said. “We lack for startup capital and this is a very important factor. We, representatives of state structures, should do our best to fully remove similar barriers.

Pg. 4

Newsroom

2 Government

Georgia’s Economy Minister joins high-level conference in China

The ‘One Belt, One Road’ initiative is a vast development strategy starting in China and spanning across Eurasia which includes reviving the Silk Road route for trade.

Government Introduces New Fundamental Tax Initiatives

Government of Georgia has introduced new fundamental tax initiatives. Three new legislative initiates will oxygenate the business sector, especially small entrepreneurs.

economy

ADB Expects GDP Growth to 4.5% in Georgia

Coming reforms in pension system and capital market will encourage investments and savings. Forecast worsening risk is related to expected export deterioration as a result of economic delay economy among Georgia’s trade partners.

Ras-Al-Khaimah to Launch Ceramics Production in Georgia

Ras-Al-Khaimah is one of the major investors in Georgian economy with the support of Rakia state investment agency. it has invested more than 400 million USD in the country.

banking

TBC Market Capitalization Exceeds 1 billion GBP

Deals of TBC Bank shares (TBCB LI) at the London Stock Exchange (LSE) increased during the last trading session. Deals were made on more than 290,000 shares (160,000 in December 2017).

Moody’s Upgrades Rating Of Bank of Georgia’s Senior Notes

BGEO Group PLC said Thursday that credit rating agency Moody’s Investors Service has upgraded the credit rating of unit JSC Bank of Georgia’s senior unsecured notes by two notches to Ba2.

business

Airbnb will Compete with Small and Medium Size Hotels in Georgia

Airbnb, an American company which operates an online marketplace and hospitality service for people to lease or rent shortterm lodging, successfully develops its business in Georgia, Property Georgia reports.

Wine Exports See 24% Rise

According to National Wine Agency, in January-March 2018, a total of 17.7 million bottles of wines were exported to 43 countries, up 24% year on year. Total value of the exports in the reporting period made up 40.47 million USD, up 26% year on year.

company

Wizz Air Adds Flights To Romania, Bucharest

Wizz Air starts flights from Georgia to Romania. The new low-cost route from KutaisiBucharest will launch from July 3, 2018. and implement flights three times a week: on Tuesdays, Thursdays and Saturdays.

April 16, 2018 #233

Finance Minister: Banking System should Drive Economy, not Destroy It

M

inister of Finance Mamuka Bakhtadze has announced a new government initiative for shaping an alternative to expensive banking products.

When talking about the new initiative, Minister of Finance Mamuka Bakhtadze said that the Georgian bank sector should drive Georgian economy, not destroy it. But we have different reality in the country, he added.

“Georgian banking system should drive Georgia economic development, not hamper it.

But we have received other reality in the country, as commercial banks do not perform their function.

Consequently, we have decided to shape an alternative source and we have called it a reform for creating starting capital”, Mamuka Bakhtadze noted.

The reform will ensure almost interest-free money resources for young entrepreneurs. This will be alternative to high interest rate banking products!

Our economy growth will become inclusive with focus on population and free economic principles.

Entrepreneurship activity will considerably increase through automatic system of VAT return, 1% tax component and reformation of access to capital. This signifies that small and medium business and new entrepreneurship will have at least 60% ratio in GDP growth”, Mamuka Bakhtadze said.

To Startupers: You are Most Important Actors in Our Economy Minister of Finance Mamuka Bakhtadze says that a limited access to capital is one of the important problems in Georgia.

Diversification of economy is of crucial importance for mutual

promotion in business sector and development. The Minister assures that amid these challenges more entrepreneurs will have the opportunity for growth and more industries will have the chance for development.

Access to capital is one of the important components for diversification of economy and this is a fundamental process.

Diversified economy creates sustainable cycle for healthy economic activity, where businesses have opportunity to support each other and grow together and this makes positive effect on state economy.

We know that the more entrepreneurs have the opportunity for growth, the more industries will have the chance for development, the Minister of Finance said.

At the same time, Mamuka Bakhtadze thanked entrepreneurs and noted that Government should make full concentration on development of startups.

“The more startupers manage to develop their skills and launch successful business, the more an outflow of intelligent and active citizens will decline.

You are the most important players in our economy and government should be fully concentrated on your development and success.

Therefore, I would like to express much gratitude to startupers, entrepreneurs, beginner businessmen, because, you create employment perspectives for many citizens. But Government should also intensify your support to enlarge your capacity and to create more job places”, the Minister said.

Microsoft Supported the Idea of Implementing Digital Silk Road Microsoft has supported the idea of implementing the

digital silk road. Memorandum of Cooperation was signed between the Ministry of Finance, Business and Technologies, and Microsoft for promotion of the project.

The document was signed

by Special Representative of Georgia to the New Silk Road, Finance Minister Mamuka Bakhtadze, Rector of Business and Technology University Mikheil Batiashvili and Director of Microsoft Georgia Nikoloz Doborjginidze.

Within the framework of the Memorandum, the Parties agree to cooperate in creating a common electronic platform for member states of Silk Road, which will enable producers and suppliers to have access to potential economic partners and to conduct online activities in free competition.

The memorandum envisages creation of a working group that will facilitate the implementation of the project objectives. In addition, the Memorandum will cooperate with both technical and research and intellectual support as well as to increase the involvement of Silk Road Member States, international organizations and donors.

“The idea of ​​digital silk road is that Georgia will become a digital hub for the entire region,” said the Minister of Finance.

The digital silk road project aims at Georgia as a modern silk road epicenter to accelerate the development of the country in a digital direction in order to become the region’s leader and main player in the field of electronic technologies of trade. The Digital Silk Road Project will also assist in the development of this innovative idea of ​​computer science and IT technologies as well as business personnel, students, and startups in the field of business.

New state program to support young entrepreneurs in rural Georgia

G

eorgia is launching a new state program “Young Entrepreneur” to support young people implement entrepreneurial activities in various regions of Georgia.

The goal of the program is to encourage young entrepreneurs in between the ages of 18-40 living in the villages of Georgia and to help attract investments

BUSINESS WEEK caucasus

The Editorial Board Follows Press Freedom Principles Publisher: LLC Caucasian Business Week - CBW Address: Aleksidze Street 1 Director: Levan Beglarishvili Sales: Mob: +995 591 01 39 36 WWW.CBW.GE Email: caucasianbusiness@gmail.com

in production and the realisation of agricultural products.

As a result the social-economic conditions of young entrepreneurs living in rural Georgia will be improved and new job places will be created. The program finances only start-ups of young entrepreneurs individually as well as young entrepreneurs’ cooperatives. The 10 million GEL grant funding will finance

only 40 percent of the project cost, however the project cost should not exceed over 60,000 GEL and not be less than 10,000 GEL. “The new state program ‘Young Entrepreneur’ is a very important program and I am sure it will be very successful. It will encourage young entrepreneurs in rural Georgia”, said Georgia’s Prime Minister Giorgi Kvirikashvili.

Editor: Nutsa Galumashvili. Mobile phone: 595 380382 Copy Editor: Ellie Rambo 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

April 16, 2018 #233

publicity

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econo-mix

April 16, 2018 #233

Georgian Banking System Hampers Economic Development Minister of Finance against Commercial Banks

How SOCAR Monopolized the Liquefied Gas Market

‘‘

Merab Janiashvili Economic Analyst

In 2001-2013 total net profits of commercial banks made up 1.119 billion GEL. In 2014-2017 total net profits of commercial banks constituted 2.561 billion GEL. Over the past 4 years the banking sector’s profits exceeded the 2001-2013 indicators twice. In 2013-2017 the annual profits growth pace exceeds economic growth at least 6 times.

‘‘

Consumer interest in liquefied petroleum gas (LPG) is growing, as prices are rising for condensed natural gas (CNG). At this point, the price of LPG is much lower than that of natural gas. The price of one cubic meter of CNG is 1.55 GEL, while one kilogram of LPG is sold for 0.99 GEL. Increased excise taxes on oil products have considerably contributed to this price difference, but excise taxes have not increased only on LPG. The excise tax on CNG has increased by an average of 0.20 GEL. Based on these circumstances, the demand for LPG is continuously growing. In 2017, experts predicted that LPG would be a popular fuel choice in the long-term, and at this stage, there are tens of refueling stations in the capital city.

Besides price, LPG became popular because of its technical characteristics. Unlike natural gas, LPG is the equal of a premium fuel at 95 octane. Additionally, it is very simple to replace a CNG system with an LPG system.

Experts also emphasize LPG’s safety characteristics. Beka Kemularia, the founder of the Consumer Protection Center, noted that LPG is much safer and more ecologically clean than natural gas.

“It is much safer compared to natural gas. It is important to make a focus on the ecological advantages of LPG. This is a much more ecologically clean product than natural gas. The price was the only problem for many years.

The liquefied gas price is much higher compared to natural gas. Increased excise tax and an opened oil product market have removed this problem today,” Kemularia said.

Georgian consumers have not used liquefied gas in decades, despite price and technical advantages, but European countries use this fuel as they prefer its ecological characteristics. Many years ago, the fuel was artificially blocked with the support of the government, and consumers were able to use only natural gas with low technical properties and high prices. With the support of the former authorities, all LPG import companies were banned other than SOCAR, the only company allowed to import LPG to Georgia. As a result, the price of LPG was considerably higher than that of CNG. The protectionist environment created by the previous regime on behalf of SOCAR made this company a market monopolist.

However, unlike other importers, SOCAR’s product had such an unbearably strong smell that it could not be used in vehicles. Therefore, consumers ignored SOCAR’s LPG and had a preference for CNG, a market in which competition was comparatively higher.

Paata Bairakhtari, the vice president for the Association of Young Financiers and Businessmen (AYFB), knows this economic scheme very well. This system enabled SOCAR to become the only LPG supplier on the Georgian market, he said.

“In that period, hothouse conditions were created for various companies. The oil products market was a closed market, which was controlled by the then Defense Minister David Kezerashvili. The LPG market was independent and competitive. Therefore, there was a real threat that it could compete with not only natural gas, but also petrol, and this was unacceptable for the then authorities. Consequently, they “insured” this risk and blocked all LPG importers, save SOCAR. Their intention was to make SOCAR a monopolist on the LPG market, like the well-known five companies on petrol and diesel markets. However, they did not take into account peculiar characteristics of SOCAR fuel. The point is that in that period SOCAR could not satisfy the existing demand for fuel in terms of technical aspects, and, on the other hand, SOCAR liquefied gas was a low-quality product and smelled unbearable.

Therefore, this project failed and LPG’s prospects on the Georgian market were neutralized,” Bairakhtari noted.

Georgian banking system frustrates economic development, Georgian Finance Minister Mamuka Bakhtadze said at TechnoPark, where a memorandum on implementation of digital Silkroad project was signed.

«Bank loans with high interest rates frustrate development of entrepreneurship and business. The Georgian banking system is to drive economy, not hamper it. Regretfully, in our country commercial banks do not fulfill this function», Bakhtadze noted.

“We see that the current interest rates do not provide opportunity for starting business”, the Minister of Finance noted. Government of Georgia plans to launch Startup Capital Supply Reform to expand access to money resources for small and medium entrepreneurs.

The reform calls for supply of interest-free startup capital to young entrepreneurs with the aim to develop entrepreneurship, especially startups. Finance Ministry and Government of Georgia have developed small entrepreneurship promotion initiative, Mamuka Bakhtadze said.

“We lack for startup capital and this is a very important factor. We, representatives of state structures, should do our best to fully remove similar barriers.

Today, our budget is shaped by about 300 companies. This is a very bad tendency. This signifies that in economy we have sectors with highest monopolization risks and this factor makes our economy vulnerable. At the same time, the current interest rates in our system does not enable to start business. The banking system should not hamper economic development, but should drive it. Therefore, we have taken decisions to launch a major economic reform. This initiative is called as Startup Capital Supply Reform and it calls for supply of interest-free initial capital to our young startupers”, Bakhtadze noted.

Economic expert Mikheil Dundua has commented on the mentioned statement. Georgia-based commercial banks are leaders in Eurasia in terms of profitability, while they frustrate economic development, he said. « 1. According to International Monetary Fund (IMF), the Georgian banking sector ranks first in terms of profitability among Eurasian countries in 2017. In Georgia Return on Equity (ROE) is 23.3% (new historical maximum at the end of the year), while Return on Assets (ROA) is 3.1%. Both parameters make the Georgian banking sector leader in Eurasia and the country is behind of only economically frustrated countries in Africa, Asia and Latin America. To be precise, we rank 15th in terms of ROE and 17th in terms of ROA. 2. In January-February 2018 debts of household economies before the banking sector rose by 130 million GEL, while debts of legal entities rose by 16 million GEL. This signifies debts of household economies have increased 8 times more compared to legal entities. In the mentioned period debts of physical and legal bodies in foreign currency is almost equal – about 19 and 20 million USD. 3. Commercial banks continue issuing high interest rate mortgage loans without income records officially form in the form of the so-called real estate pawn loans.

4. In January 2018 National Bank set limits to make the loan service schedule adequate to the client’s incomes (physical body). Despite this bold decision

by Koba Gvenetadze, the new regulation does not give important results, because: a) there are no adequate sanctions against violation of this regulation. Moreover, in a number of cases this violation is not considered as an infringement of standard act on commercial banks.

b) new regulations are applied only to mortgage loans, while in 2017 comparatively higher retail crediting and this decision is evidently reflected in practice and advertising campaigns. c) Starting 2010 commercial banks introduced a formulation of loan agreements, under which any borrower of mortgage or non-mortgage loan bears responsibility before the creditors for failed loan services (and not only in mortgaged property). Earlier the situation was different. Namely, borrower of nonmortgage loan used to lose only personal incomes, while mortgage loan borrowers used to lose mortgage property and personal incomes for failed loan services. To put it otherwise, today commercial banks are able to more freely issue non-mortgage loans of several thousand of GEL to unqualified borrowers and expropriate their property in case of problems with loan service.

Solution: a) commercial banks should be banned to issue loans without income records. Loan service limit in foreign currency should be 20% of the client’s income. The figure should be 30% in national currency; b) The violator bank should be fined strictly; c) Only mortgaged property and personal incomes should be claimed in case of essential frustration in loan service. Any other formulations should be restricted in loan agreements. Consequently, commercial banks will show more caution in crediting physical bodies”, Mikheil Dundua said.

High-ranking officials rarely criticize Georgian banking sector, despite relations between commercial banks and their clients is one of the sharpest problems in the country. Giorgi Kadagide, the former president of National Bank of Georgia (NBG), was the last high-ranking official who criticized commercial banks. Shortly after his appointment as NBG president, he noted that the Georgian banking sector was frustrating economic development. And that’s all.

After this nobody has heard about his critical statements regarding commercial banks. On the contrary, he started lobbying commercial banks. We hope Mamuka Bakhtadze will save himself from similar transformation and efficient steps will be taken after his statement.

In 2001-2013 total net profits of commercial banks made up 1.119 billion GEL. In 2014-2017 total net profits of commercial banks constituted 2.561 billion GEL. Over the past 4 years the banking sector’s profits exceeded the 2001-2013 indicators twice. In 2013-2017 the annual profits growth pace exceeds economic growth at least 6 times.

The banking sector’s profitability is determined by two factors: ROA and ROE. Georgia occupies one of the leading positions in both parameters. The Georgian banking sector is recorded in top ten countries in terms of profitability. According to IMF, Georgian banking sector ranks 9th in terms of profitability after undeveloped countries of Africa, Asia and Latin America.

Total revenues of commercial banks in 2017 made up 3.58 billion GEL, including interest incomes made up 77% (2.76 billion GEL) and noninterest incomes made up 23% (821million GEL). Last year commercial banks earned 368 million GEL from commission fees, 202 million GEL from currency exchange operations, 77 million GEL from fines. In 2017 commercial banks spent 1.247 billion GEL on service of deposits, while interest incomes from loans constituted 2.76 billion GEL, nearly twice more compared to service of attracted financial resources (deposits).

“Georgia is ready to introduce principles of EU energy sector and regulatory norms. For all of us it is clear that the road to the establishment of a more efficient and transparent natural gas market is not easy. In conjunction with other partners in development, the European Union is still ready to support the government and transform the existing challenge as an excellent opportunity for economic development and to provide better service for each resident”.

Janos Herman

EU ambassador to Georgia

April 16, 2018 #233

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April 16, 2018 #233

Tbilisi City Hall Will Spend Over 1 billion USD on Enforcement of Land Use General Plan

I

ssues with the Tbilisi land use general plan have caused serious problems recently. Political, public and academic circles have been actively discussing this issue.

There are many groups involved, and all of them agree that Tbilisi needs a development plan.

Last week, Tbilisi City Hall remarks were discussed in a public format. The document prepared by the City Institute organization trigged serious confrontations.

Opposition representatives aggravated the situation, while important issues like encroachment on property rights and financial-economic aspects of the document were left without due answers.

Regarding this issue, the Association of Young Financiers and Businessmen (AYFB) has published its findings.

Neither City Hall nor the City Institute organization have answered how to change land zoning categories, what economic effects will result or what liabilities will arise for the municipal budget, the document says.

According to the AYFB report, if the current version of the land use general plan is adopted, the private sector will bear serious losses. Many citizens have submitted appeals to AYFB as part of the research process. These appeals describe many encroachments on private property. The private property of our citizens was shifted to other zones without preliminary consultations or information support in about 25-30 thousand similar cases. This signifies that compensation from the Tbilisi budget should go to

all these private property owners. According to the most optimistic calculations, this amount is $300 million.

According to AYFB research, the situation is worse in commercial zones with the status of recreational zones. The dismantling of Eliava Fair is the most obvious case. Naturally, this process raises many legal and financial questions.

According to Geostat information, a total of 2,199 legal entities are registered on Khosharauli and Agladze Streets, the left bank of the river Mtkvari and Vakhushti Bridges. Each one employs at least four people. During the dialogue, businesses talked about bank liabilities they took to ensure operation, and these amounts ranged from 1,000 GEL to 4,000 GEL a month. The total amount, on average, reaches 25000 USD. If these business operators cease operation for several weeks, they may face bankruptcy threats, and commercial banks may expropriate the real estate that small entrepreneurs have mortgaged in exchange for bank loans.

According to the research, this area is shared by 144 bodies and the total value of land plots exceeds 230 million USD, plus the value of the buildings on this land, along with expenses for dismantling and relocating these buildings to new locations.

The document also notes that the soil of this area is unfit for a recreational zone, and will therefore be replaced and irrigation systems installed. The issue of the Wagon Repair Plant area also remains unresolved. According

to certain plans, part of Eliava Fair will be relocated there.

One more infrastructural project with an unclear financial component is related to the system of tunnels. According to the land use general plan, the motorway along the river bank will be moved underground so the park may extend to the river bank. As a result, a joint pedestrian network will be shaped aboveground along the river bank, with bicycle and walking bridges and enlarged footpaths.

AYFB has conducted consultations with road infrastructure specialists to determine the projected cost of developing and implementing this project. It was impossible to determine an exact amount at this stage, because there is no final project. According to approximate calculations, the necessary budget will be several million dollars.

According to AYFB, more than $1 billion is required to resolve the issue with Eliava Fair. The municipal budget is not sufficient to resolve all these issues and alternative resources will be required.

AYFB has submitted recommendations to City Hall, including changes to zoning laws, the submission of related arguments and substation.

AYFB also asserts that Eliava Fair should be stripped of its recreational zone status, because no financial component has been decided regarding the relocation of this territory, and bankruptcy risks may arise for small and medium entrepreneurs. bfm.ge

April 16, 2018 #233

The Georgian Parliament is preparing to discuss a legislative initiative by the ruling Georgian Dream coalition.

If the parliament adopts the bill under discussion, building license fees will rise several times over.

Amendments to local fees will be made. The bill was developed by Tbilisi City Hall and the document was submitted to Parliament by MPs Zaza Gabunia, Gocha Enukidze and David Songhulashvili. The building license cost, under the new regulations, will vary.

Under the laws, the fee will not be calculated by a project’s space, but it will be based on a development intensity coefficient (k-2). As a result, the building license fee will be determined in different ways in various spaces.

For example, under the amendments, if the project does not include the development intensity coefficient (k-2), the fee for the second-category building must not exceed 50 GEL, the third category will be 200 GEL and the fourth category will be 400 GEL. Additionally, the bill sets new fee amounts. The fee for each square meter of development intensity coefficient (k-2) should not exceed 4 GEL, while in a resort zone the fee for building industrial facilities must not exceed 5 GEL. Under the amendments, the fee for each linear meter of a project must not exceed 1 GEL in the case of a linear building construction.

As to the bill’s effect on the budget’s revenue part, the municipal budget will accumulate an additional 10-15 million GEL from the licensing fees.

According to the bill’s authors, in 2017 revenues from the building license fees totaled 4,908,048 GEL, and in 2016 were 3,948,910 GEL. Meanwhile, developers have questions for City Hall regarding toughened sanctions and regulations, said Tornike Abuladze, executive director of ARCI. “Previously, the building license fee for constructing a 10-floor building was 500 GEL, while the bill raises this sum several times. I agree with City Hall that 500 GEL is an inadequate amount, but we should not fall into another extremity. According to unofficial information, this amount will grow to 10,000 GEL,” Abuladze said.

In this situation, developers are interested in the quality of services the city government will provide in exchange for the fee changes, Abuladze said.

“When two persons visit a restaurant and receive a bill for 25 GEL, they

real estate

Regarding these upcoming regulations, Caucasus Business Week has interviewed representatives of development companies: Malkhaz Kunelauri, a project manager for Redco Development Company, said that the new regulations will be beneficial for the budget, but will bring additional burden to the taxpayers. “Fines have risen in various directions for violation of projects and this regulation will be a serious burden,” Kunelauri said.

Higher license fees will not raise prices, but there are many other components in the development sector that may drive a rise in prices on real estate.

Many other regulations were introduced recently, and fines have increased from 4,000 GEL to 20,000 GEL. “It should be also noted that recently the Georgian Lari has depreciated and all these factors may rise apartment prices,” Kunelauri said.

Bezhan Tsakadze, founder of GDG+ Development Company, said that these government regulations will bring very extreme outcomes. Any regulations in the development sector will raise prices, but this should happen, because Georgia has the lowest real “In estate prices in the region, he said. this situation, “Quality must not developers are decrease, and increasing prices interested in the quality are an ordinary of services the city event. The officials who Tbilisi mayor government will provide has are obliged to also said prepare these that the facades in exchange for the fee documents of all new buildchanges” have to meet very ings must be coated. strict hourly deadThis requirement will lines and they receive raise prices significantly. I bonuses or any compensation agree with this decision, too. for that. Consequently, any official apThe buildings without coated plication with accelerated procedures facades must be repaired anew is a serious burden for them. They in four or five years, because of have to work till night, frequently, the low-quality materials used. they cannot visit their families and Of course, coating facades will they receive no bonuses. As a result, also raise prices,” Tsakadze we receive low-quality services. If City said.

Hall releases a statement that higher Taking into account all regulafees will make the system healthier tions, apartment prices will and increase service quality, this definitely increase in the near would be acceptable to everybody,” future, he said.

Abuladze said.

Higher Fees on Building Licenses Will Raise Real Estate Prices pay less attention to this bill, but if the bill amounts to 300 GEL, they are expected to examine details. The same principle works in relation to the development sector. We are interested in what services we will receive and whether quality of services will be improved. City Hall should answer these questions,” Abuladze said.

Today, protraction in issuing building licenses is a key problem in the sector, he said, and focused on system corruption at City Hall. There are two ways to receive services at the City Hall – standard and accelerated formats, according to Abuladze.

“The format of accelerated services enables a person to receive answer in two days instead of 21 days. The system has the following problem: those

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PR Person

April 16, 2018 #233

‘Creativity has always been valued in this field and it’s still important nowadays’ - Why did you decide to enter this field and what opportunities does it give in terms of career growth?

I am a journalist by profession and have been working for several year in this field. I started my career at ‘’World Vision’’ as communications specialist. The work in the field of development has become so interesting that I am still here after working in this organization for 10 years. It has been exciting to be part of the company’s achievements, growth and changes. We have contributed to the improvement of many vulnerable people’s lives ,sharing their stories, problems and successes have been my work for years. Over time, the ways of reaching the audience has changed; Social media has added new dimensions to PR work.

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

First of all, it is important to know what your goal is, what messages do you want to deliver to the public. After that you search for effective ways to connect with the audience - at this stage creativity and knowledge of company’s audience are very important. Engaging Media is also one of the essential parts of success in this field.

- What three tips would you offer someone just starting out in PR? Traditional PR skills like writing and media relations will never fade, and perhaps they’re more important than ever in today’s fractured media market, I would also add Creative Thinking and Social Media skills to this list.

- What do you wish you would have known before starting your career in PR?

Interview with World Vision South Caucasus Communications Director Ana Chkhaidze

It is a complex topic and I still have a lot of things to learn ahead, there are many things I would like to know more about, for instance visual communications. In my opinion, it is important to have the readiness to constantly develop.

- Describe your typical work week.

Depending on how active processes are underway in the organization, my working week is relevant. We are now trying to raise awareness on children working and living in the streets and to change public attitudes towards them.

With the campaign #NotMyChoice we want to show the public the problems of these children, Children on the streets all over the world feel misunderstood and mistreated by their local communities. We want to take action together to spread the voices of homeless young people to challenge negative stereotypes. Accordingly, my job right now requires active work on social networks and media involvement.

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

Personal relationships are very important, but also social media helps me too, professional groups where we share experience and exchange information.

- How would you prioritize and start your work day?

Each day starts with checking mail and organization’s social page. The next case is prioritization according to the agenda of the organization itself, whether there is an event planned or not, what are the pending needs.

- What skill does successful PR Manager need?

In the first place strategic thinking, it is necessary to understand the goals and requirements of the organization. Creativity in this field has always been valued and is still very important. . Despite what we convince to ourselves, we can learn to be more creative.

It is also very important to love the work you do and the topics you work on. For successful implementation of a particular initiative teamwork is essential, also seeing strengths of your members and supporting their professional growth.

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

Dedication towards work and professionalism -What is the best PR practice technology can’t change?

I would say Technology has changed PR Practice for the better. Interesting stories are what we are constantly looking for, technology helps us to deliver those stories to the audience.

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

Over the last few years, it has become apparent that social media has captured the fancy of most people. The extensive use of social media has drastically changed the way people communicate and share information. The Processes have been accelerated; social media offers its rules and requires constant updates.

You are in constant interaction with audience, you have the opportunity to observe their reactions, to determine their age group and to provide more efficient information. Demand for survey based information has increased, as well as on visual storytelling.

April 16, 2018 #233

Digital market

The importance of digital transformation and its specifics in the Georgian market discussed

by Microsoft specialists

G

eorgia maintains a strong position in the development of state services, strong local agencies operating in the country’s market, supporting innovation and technologies. Besides, they are successful and are constantly trying to introduce innovative products. Openness to innovative technology is high in Georgia. At the same time, Internetization remains a major challenge in the regions,” said Nikoloz Doborjginidze, the general director of Microsoft Georgia at the forum on digital transformation entitled “Discover the world of digital transformation.”

Meetings, which were held in parallel, were dedicated to such important topics as cloud technologies, digital transformation, innovative solutions for social network management, virtual chatboxes and more.

“It’s my first time in Georgia and I’m glad to be here. Our world is changing dramatically.

We are here to discuss: what is digital transformation? What are the changes that affect business? I think Georgia is one of the most interesting countries. It doesn’t matter where you are, you must catch up with digital technologies. Microsoft works with clients of all industries to help digitalize companies and accelerate their transformation. In fact, each organization develops at different speeds. In order to accelerate the process, it is necessary to take into consideration four basic elements, namely the user’s involvement in the process, strengthening the staff’s authority, further updating work and transformation of the product and service. This is the material for creating digital transformation, which companies must take into account,” said Miladi Stumbu, Europe’s sales manager at Microsoft.

The forum covered various topics, such as digital transformation in retail and expectations for this sector. The leading specialist in marketing and operations in the European region, Masha Melkova, explained: “In general, the process of purchases is changing rapidly in the world: the role of retail has changed forever. Digital technology has completely re-

placed the traditional retail business model. In the past, one channel was absolutely enough to give stimulus to sales, and most of them preferred to invest in online offers. Today, retailers should do much more to succeed. For example, retail sellers should create different and individual experiences that will cover our real and digital lives.”

Digital transformation has changed the methods of business operation and in this respect Georgia is no different from other countries in the region. Robert Tornvek, the Microsoft production business director in the European region, noted: “Each market has its own characteristics, but the priorities everywhere are: implementing IT solutions that enable people and organizations to work more efficiently. Of course, these decisions are at the same time safe. Microsoft is working with all industry users to help them convert to digital companies and accelerate this conversion. All organizations need different time for transformation. There are four common items that all addresses: providing clients with a more attractive quality of service, strengthening the power of employees, updating work and transforming products and services. This is the foundation for building digital transformation.”

It is important that business leaders and IT departments participated in the digital evolution forum by Microsoft’s invitation.

“It was the first large forum that was organized and promoted by Microsoft in Georgia.

The forum included the introduction of the company’s solutions, which will help them to develop technological transformations and achieve better results. We will help companies have more opportunities in the direction of digital transformation. I think it was an unusual opportunity to present what Microsoft is looking for, and how the company looks at the new model that has been developed on the basis of sales in Georgia. In addition, special attention should be paid to partner ecosystems and business transformation,” said one attendee.

Robert Tornvek

Masha Melkova

Myladie Stoumbou

Nikoloz Doborjginidze

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business

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The Best Offer for Fans of James Blunt

Memorandum of Cooperation Signed between Anaklia City and ADGM

The legendary British singer James Blunt’s concert tickets are already available from 65 GEL. “We have made the best decision for music fans. The cost of James Blunt’s concert starts from 65 GEL instead of 120. Our project has new sponsors and this change is thanks to them. Thank you very much to Basisbank, hotel “Hotels & Pregeference Hualing Tbilisi,” Check In Georgia and the Georgian National Tourism Administration! “said the organizers of the festival. For the third time, the program Check In Georgia begins. Within the framework of the project, up to 300 events are planned for April until autumn. The program includes concerts, exhibitions and festivals of foreign performers. At this stage, negotiations with other well-known musicians are already underway. On the 26 May, James Blunt’s concert will be held within Check in Georgia.

Government officials and project organizers have announced this at the opening presentation of Check In Georgia 2018. The famous British performer James Blunt will visit Georgia as part of his world tour and will sing on May 26, Independence Day, at Mikheil Meskhi Stadium. He is the first international star to visit Black Pearl Live. Fans will be able to listen to all their favorite hits including “You’re Beautiful,” “Goodbye My Lover” and “Love Me Better.” Tickets can be purchased on tkt.ge.

First Deputy Prime Minister, Minister of Economy and Sustainable Development Dimitri Kumsishvili attended the signing of the Memorandum of Cooperation between Abu Dhabi Global Market (ADGM) and Anaklia City.

The Memorandum will facilitate the strengthening of relations and economic cooperation.

The Global Market of Abu Dhabi (ADGM) is a special economic zone that was created Abu Dhabi to attract financial instruments.

“Today we have a very important meeting with ADGM to share the experience that has accumulated in this zone. After the meeting the memorandum was signed between Anaklia City and the Global Market in order to share the experience and knowledge that ADGM has in the future to share,” Dimitri Kumsishvili said.

Colliers International Georgia publishes a report of Airbnb activity in Tbilisi for 2017 According to the overview carried out by global real estate services company, the number of properties listed on Airbnb grew significantly by 70% from 5,678 in 2016 to 9,679 in 2017.

The Average Daily Rate (ADR) for Tbilisi’s Airbnb amounted to USD 43. In 2017, 50% of listings were provided by hosts with just one listing. However, 32% of listings were offered by hosts who have more than two listings on Airbnb that might indicate professional undertakings through Airbnb. The share of such hosts was 10% in 2017. The most popular districts among guests were Mtatsminda, Saburtalo and Chughureti. These districts accounted for 78% of all Airbnb booked nights. “We expect the number of listed properties to grow significantly in upcoming years that will increase competition in the hotel market even further.” – stated Nino Makasarashvili, Research Analyst at Colliers International Georgia.

Introduction of GMP and GDP Standards in the Pharmaceutical Market Begins Pharmaceutical companies will have to maintain European standards within the next few years.

The Ministry of Health begins to implement GMP (Good Production Practice) and GDP (Good Distribution Practice) Standard to ensure quality of medicines produced and imported in the country. Additionally, the inspection of pharmaceutical enterprises and distribution networks will be mandatory starting from January 1, 2022.

The Ministry believes that the introduction of GMP / GDP standards ensures the quality of pharmaceutical products in circulation and export of medicines produced in Georgia. It will also facilitate the strengthening of the pharmaceutical sector and the economic development of the country.

April 16, 2018 #233

Momo-Illuminated Boxes and Gift Packs by Georgian Students hree Georgian students created ”Momo”illuminated boxes and gift packages for whom has busy schedule, it makes getting gift more fun and easy.

As for Mariam Nutsubidze, Mariam Tevdorashvili and Mariam Asanidze, this lighting makes gift more attractive and special. Founders cooperate with Georgian brands actively.

Marketer had an interview with Mariam Nutsubidze: How necessary was it to introduce ”Momo” to Georgian market?

We’ve been worried that Georgian customers weren’t capable to get original, affordable packaging. That’s why we decided to produce boxes of various sizes, shapes and materials by our design.

Main secret is small balls and lighting inside the box, that makes the process of opening gift more mysterious and enjoyable. We also cooperate with local companies, which products are places in

our boxes and that’s how gift packages are created.

What are the stages of developing ”Momo”?

First we wanted to have a company where various subject would be united and people would choose them online, simply based on pictures, then they would order and deliver it. After a long discussions, we decided to send it with different package, that’s what distinguishes us from other online store companies. Momo is the first company that introduced such packages.

What is ”Momo”s priorities with customers?

Our main priority is anyone to purchase it affordable. We take care of customers, we offer delivery service and make this process easier. Also, we have wide range of woman, man and kid products. User may choose from both- gift package that price starts from 40 GEL, as well as individual product.

Microsoft Supported the Idea of Implementing Digital Silk Road Microsoft has supported the idea of implementing the digital silk road. Memorandum of Cooperation was signed between the Ministry of Finance, Business and Technologies, and Microsoft for promotion of the project.

The document was signed

by Special Representative of Georgia to the New Silk Road, Finance Minister Mamuka Bakhtadze, Rector of Business and Technology University Mikheil Batiashvili and Director of Microsoft Georgia Nikoloz Doborjginidze.

Within the framework of the Memorandum, the Parties agree to cooperate in creating a common electronic platform for member states of Silk Road, which will enable producers and suppliers to have access to potential economic partners and to conduct online activities in free competition.

The memorandum envisages creation of a working group that will facilitate the imple-

mentation of the project objectives. In addition, the Memorandum will cooperate with both technical and research and intellectual support as well as to increase the involvement of Silk Road Member States, international organizations and donors.

“The idea of ​​digital silk road is that Georgia will become a digital hub for the entire region,” said the Minister of Finance.

The digital silk road project aims at Georgia as a modern silk road epicenter to accelerate the development of the country in a digital direction in order to become the region’s leader and main player in the field of electronic technologies of trade. The Digital Silk Road Project will also assist in the development of this innovative idea of ​​computer science and IT technologies as well as business personnel, students, and startups in the field of business.

April 16, 2018 #233

hotel

MOXY Hotel Hosts Media Representatives «We found ourselves in an absolutely difference environment. The familiar and friendly place, where everybody smiles and shows love and tenderness to you . Active and creative crew meets you and offer various entertaining opportunities», this is how representatives of media and PR offices appraise their first visit to MOXY hotel. We will visit you again, they promised when leaving the hotel.

Modern and refined design, interesting interior and cozy environment, refined music, premium services, affordable prices, exceptional suites – this is MOXY, the mixture of modern, eccentric, innovative, boutique concepts, created under the umbrella of Marriott International. This hotel opened several days ago in Tbilisi.

The new hotel MOXY hosted media representatives as first visitors. The guests received information on key concept of the hotel, which radically differs from other hotel brands in Tbilisi. It is important that MOXY is a ultramodern and innovative brand, which started positioning in Georgia among Eastern European countries.

Media representatives were enabled to see innovative, dynamic, extraordinary hotel suites and special guests and feel their advantages.

«Having entered the hotel I found myself in a different world, where I lost the sense of time. Music, performance of rooms and attitude of hosts were creating magnificent, retro-style environment. This is a place, where I will come back for shaping good memories», Gvantsa Abashidze, PR manager for the Utsnobi radio station noted.

MOXY is in continuous motion: interesting people, vigorous, creative and devoted crew. Always in joy, well-chosen design and style fulfilled in interesting manner – the hotel guests saw and perceived all these advantages from the very beginning.

Presentation of MOXY hotel was very special and original. On entering the hotel, you feel different atmosphere – the world of entertainment, positive energy, happy mood and extreme feelings.

MOXY is the place, where I will always come back when I am bored to radically change mood», Avto Chitidze, editor for the Sarke magazine said.

«MOXY – exceptional and ultramodern. It is so attractive that it inspires you to visit it again and again and spend your time there. Reception was over and I want there again. Its exceptional menu, easy-going crew full of life add special sense to the environment! A lot of guests and smile to New MOXY», Natia Gedenidze from PR Office of Probation Department, expressed her emotions in this way.

Special lottery was held for media representatives.

The winner will spend one magnificent night in the recently opened hotel of MOXY. The prize was won

by Maka Pankvelashvili, producer for P.S. TV program, Rustavi 2 TV company.

«This is an excellent hotel. I have won the prize for the first time in my life. This was a surprise for me. I would like to wish success to hotel management. I will definitely visit your hotel again».

«It is pleasure when a similar excellent hotel opens.

This only signifies that economy, tourism, business is developed in the country», Giorgi Kapanadze, director for Caucasus Internet Media Group, noted and stressed the importance of ultramodern and innovative brand in Georgia.

The hotel comprises 130 suites and a lobby, where all main activities, various tournaments and events will be held. This is unforgettable history for each guest named as #AttheMoxy. Target audience includes dynamic, innovative young business travelers and adventure tourism fans.

«MOXY is oriented on modern tourists, who give preference to eccentric brands. We offer comfort to tourists and this is a key component. As to prices, they are affordable and attractive for everybody and this component adds more advantages to MOXY products compared to other brands», Cameron McNeillie, manager general for MOXY Tbilisi, Tbilisi Marriott, Courtyard Marriott Tbilisi, noted.

The hotel’s bar offered cocktails to the guests. There is also a zone for relaxation, with a huge table, where the first guests relaxed and tasted delicious fourchette.

A lot of games were offered to all guests. The games were manged by creative, smart, uncompromisable and eccentric Crew.

Eka Vepkhvadze from PR department of Corrections Ministry: «The hotel interior is super! The concept is different and very interesting. The hotel suites are cozy and attractive. There is fascinating terrace. The hotel offers low-cost services. I will recommend this hotel to guests due to its location and all services I have seen here today. There is joyful crew and atmosphere».

«This is the first MOXY brand hotel, not only in Georgia and Caucasus, but also in the whole East Europe.

Entrance of similar brands is of crucial importance and this is directly related to tourism business development and employment of local population.

We provide trainings due to the standards of MOXY networks», Geoplant commercial director Mikheil Chkuaseli said.

MOXY unveiled its first hotel in Milan in September 2014. As to Tbilisi, it is located on Saarbruken Square, in the complex owned by GMT Group. Besides hotel, there are office space and exceptional restaurants Chela and Puri Guliani. The design is full of Georgian culture details and accents. Their tandem with Chela and Puri Guliani introduces Georgian culture to guests from the very beginning.

GMT Group and Marriott signed agreement on MOXY hotel management in 2015. Fifty million GEL was invested in the new hotel. It should be noted that GMT Group, jointly with private American investors and OPIC, have implemented the following projects in Georgia: Tbilisi Marriott hotel, Courtyard Marriott, A-class office space GMT Plaza, Milk and juice manufacturing company Sante GMT Products and restoration-reconstruction of Mtsatsminda former restaurant Funicular.

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April 16, 2018 #233

April 16, 2018 #233

world

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Trans-Caspian Transport Route launched New Feeder Container Service at the Caspian Sea

Zurab Pololikashvili Appointed Lionel Messi as UNWTO Ambassador Considered by many the best football player of all times, Lionel Messi joins the World Tourism Organization to promote the value of responsible tourism. The UNWTO Secretary-General, Zurab Pololikashvili, appointed Messi as UNWTO Ambassador for Responsible Tourism this Saturday at Camp Nou in Barcelona, after the match F.C. Barcelona – Leganés. “During my travels I have had the opportunity to know other cultures and societies as well as others ways to see the world and this is very enriching. The World Tourism Organization as a specialized Agency of the United Nations works to make tourism a source of development and I am happy I can join this mission of promoting responsible tourism”, said Lionel Messi.

Lionel Messi is an example of talent and constant work in football. Messi is admired all around the world not the least due to the positioning he brought to the F.C. Barcelona in recent years, team with which he won a total of 30 titles, including eight Spanish Leagues, four Champion Leagues and five King’s Cups of Spain.

“Messi is a unique sportsman and an example of how willpower and constant work yield good results. It is a great honour to have Messi joining UNWTO and other well-known personalities in promoting the positive values and benefits that tourism represents” said Zurab Pololikashvili. Messi is the first football player in history who won five Ballon d’Or – the first four won consecutively – and four European Golden Shoes.

Lionel Messi joins the Spanish football player Fernando Hierro and the mythical Spanish coach Vicente del Bosque, as the first personalities that UNWTO appoints to advance the links between sports and tourism and promote the transformative power of responsible tourism.

Elon Musk’s SpaceX is raising $507 million in a new round of funding Elon Musk-led SpaceX Corp is raising $507 million in a new round of funding, valuing the company at around $26 billion, according to a filing seen by Reuters.

New articles of incorporation filed by the company last week and sent to Reuters by private analytics firm Lagniappe Labs showed the addition of 3 million ‘Series I’ shares from a previous version filed in November.

The filing also gave the initial value of the Series I shares as $169, 25 percent higher than a value given in its previous fundraising round late last year.

SpaceX declined to comment on the new funding round, which was first reported by tech industry website The Information.

The Hawthorne, California-based company has outlined plans for a trip to Mars in 2022, to be followed by a manned mission to the red planet by 2024.

The feeder vessel Mahmud Rehimov, residing to the «Azerbaijan Caspian Shipping» CJSC (ACS CJSC), moored to the Aktau seaport purposely for servicing a regular feeder container line of the Trans-Caspian International Transport Route (Middle Corridor). Later on the next day, 70 twenty-foot containers (TEU) with Kazakhstani wheat and lentil were stowed on the vessel. After getting in Port of Baku (Alyat), the containers will be trucked to the fitting platforms residing to the «Azerbaijan Railways» CJSC and «Georgian Railway» JSC. Further from Port of Baku containers will be sent to the Turkish port of Mersin via the BakuTbilisi-Kars railway line launched in 2017.

This is the first in the history container transportation by the feeder vessel entered the seaport of Aktau. Until now, “National Company “Aktau International Sea Commercial Port” JSC has been serving dry bulk fleet for general goods (grain crops, metals, etc.) and also ferries in connection with the sea Port of Baku (Alyat).

According to the new sea link development plans, the expected handling time of the feeder

vessel in the sea ports of Aktau and Baku (Alyat) will not exceed 24 hours in each one while the time of transportation of the containers between the ports will not exceed 36 hours.

In future the feeder vessel will be plying on the route Port Baku – Port Aktau – Port Baku on a weekly basis. So, the next sailing of the vessel is scheduled on the 11 of April 2018. On top of that, in common with the export goods from Kazakhstan, the next container shipping will also include transit cargo, such as tomato paste transporting from China to Italy by the Trans-Caspian International Transport Route (Middle Corridor). Secretary General of the International Association “TITR”, Rakhmetolla Kudaibergenov, also attended the official ceremony of launching the first feeder vessel and noted that the start of a regular feeder service at the Caspian Sea will be a new milestone in the development of containerization in the region and will influence on the extending of the capacity of TITR (Middle Corridor). Also it is planned to attract a second feeder ship to the route in 2018.

Huawei’s 2017 Annual Report: Solid Performance and Lasting Value for Customers Zuckerberg survived two days of grilling

by Congress, but Facebook’s troubles are not over yet Facebook’s Chief Executive Mark Zuckerberg spent two days this week facing scrutiny from U.S. lawmakers, but the social network he helped create isn’t in the clear just yet.

The firm’s billionaire co-founder told lawmakers at the two-day Congress hearing of how his own data had been compromised as a result of the data scandal haunting the company. He said the company failed to notify the Federal Trade Commission about the leak of users’ data to controversial political data analytics firm Cambridge Analytica.

Now Facebook faces further scrutiny in Europe.

Chief Technology Officer Mike Schroepfner is due to appear before U.K. lawmakers later this month to address the ongoing data scandal enshrouding the company. Stepping in for the firm’s CEO, Schroepfner will face questions from the U.K. Digital, Media, Culture and Sport select committee, chaired by Damian Collins, on April 26.

British lawmakers still want to hear from the Facebook boss, however. After Zuckerberg declined an invitation to appear before British lawmakers, Collins, a parliamentarian from Britain’s governing Conservative Party, sent Facebook

a letter insisting that Zuckerberg give evidence before the committee.

Facebook has admitted that the data of 87 million users’ profiles — even Zuckerberg’s — may have been shared without their permission to controversial political data analytics firm Cambridge Analytica. The social network has been letting users know whether their data was compromised since Monday.

“People will seek to clarify the converging testimonies, especially on the more technical aspects where he (Zuckerberg) was obscuring and giving evasive answers,” Paul-Olivier Dehaye, co-founder of PersonalData.IO, told CNBC in a phone interview.

Some commentators have said that U.S. politicians did not ask difficult enough questions to the Facebook CEO. That is something that could change when Schroepfner gives evidence, Dehaye said.

On Thursday, the European Union’s data watchdog said it would scrutinize social media firms further with a Social Media Working Group. The EU is preparing to enforce a new data law that could lead to fines of up to 4 percent of a company’s annual global turnover if breached.

Huawei released its audited financial results for 2017, reporting solid business growth.

The company’s total annual revenue was CNY603.6 billion (US$92.5 billion based on year-end exchange rates), an increase of 15.7% over 2016. Net profits were CNY47.5 billion (US$7.3 billion), an increase of 28.1% year-onyear. In 2017, Huawei’s annual investment in research and development reached CNY89.7 billion (US$13.8 billion), up 17.4% compared with 2016. The company’s total R&D spend over the past decade has exceeded CNY394 billion (US$60.4 billion).

“We’re on a new journey,” said Ken Hu, Huawei’s Rotating Chairman. “Opportunities and challenges are popping up faster than ever before, and nonstop open innovation is the only way we can keep ahead of the game. Over the next 10 years, Huawei will continue to increase investment in technological innovation, investing more than 10 billion dollars back into R&D every year.

We will actively pursue open collaboration, attract and cultivate top talent, and step up efforts in exploratory research. We want to better enable all industries to go digital and intelligent.”

Hu added, “As we look to 2018, emerging technologies like the Internet of Things, cloud computing, artificial intelligence, and 5G will soon see large-scale application.

Throughout this process, Huawei will stay at the forefront of technological innovation and business transformation. More importantly, we will pay special attention to the practical challenges that our customers face as they go digital.

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April 16, 2018 #233

April 16, 2018 #233

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 Embassy of The Republic of Korea 12, Titsian Tabidze Str. Tbilisi 0179, Geogia Tel: (995 32) 297 03 18; 297 03 20; Fax: (995 32) 242 74 40; Email: georgia@mofa.go.kr

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 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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April 16, 2018 #233