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BUSINESS WEEK

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February 26, 2018 #227

February 26, 2018, Issue 227 - www.cbw.ge

Business Turkish Investor Funds 40 Million in Poti Clothing Factory To Make Famous Brands Pg. 4

Hotel Discover Hotel «Laerton Tbilisi» in Old Tbilisi

Valeri Pantsulaia: The main priority of public relations is to gain trust of public

Pg. 11

Pg. 8

Unclear Perspectives for Improving Situation on Pharmaceutical Market

Small Business Preferences and Available Risks

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. Pg. 7

Clean Energy Group Georgia Hosted a Public Discussion About the Namakhvani HPP Cascade Project

Pg. 6

Clean Energy Group Georgia hosted a public discussion with local residents regarding the Namakhvani Hydropower Plant (HPP) cascade project. The Namakhvani HPP is a cascade of hydropower plants (Upper and Lower Namakhvani) that will be built on Rioni River and have an installed capacity of 400 MW. The project’s construction will generate up to 3000 jobs. A majority of the workforce will be Georgian with a focus on recruiting qualified local residents. The project will assist Georgia in increasing its energy security, provide affordable renewable energy to the population, improve flood control on the Rioni river, and be a major tax payer in the country. The project will also ensure minimal environmental impact by mitigating environmental risks in the course of construction. Clean Energy Group Georgia is guided by international best practices and the environmental and social standards set forth by the institutions financing the project (IFC and EBRD). Pg. 2


Newsroom

2 Government

Switzerland has just ratified the EFTAGeorgia Free trade agreement

The agreement covers following issues: trade in goods, trade in services, sanitary and phytosanitary measures, technical barriers to trade, rules of origin, customs and trade facilitation.

Government to Exempt Maintenance of Airplanes of VAT

Maintenance of airplanes will be exempted from VAT as part of the initiative Minister of Finance Mamuka Bakhtadze unveiled to reporters after government meeting on February 21.

economy

Ukraine, EU to jointly finance new Silk Road transport corridor

The new transport corridor stretching for 1,746 km will cost about 2 billion euros (about 2.4 billion U.S. dollars). It is set to be completed within three years.

Georgian Citizens Spent 112 Million GEL Abroad in January

Transaction via plastic cards are increased by 23% y-o-y (01/2017 – 91 million). Envisaging exchange rate effect, the growth is 34%. GEL is strengthened by 6% against USD y-o-y.

banking

Banks’ Monthly Profit from the Currency Sale

Compared to the same period of last year, the net profits / losses of commercial banks received from the currency operations increased by GEL 9,476 million. Last year commercial banks net profit from conversion operations made GEL 202,954 million.

Transactions of 114 MLN GEL were Made on Bank of Georgia Shares

Transaction is made on leading bank’s shares of 5,534,619, per share value amounted to 20.57174 GEL. The price is 4.4 times less comparing to the market value. Total value of the transaction is 113,856,743 GEL.

business

Wind Power Plant to be Constructed in Georgia by Large Turkish Holding

The largest Turkish energy company “Chalik Enerji” will construct 50 MW wind power plant in Shida Kartli and will invest 75 million dollars.

Georgia to Open 34 New Hotels in 2018-2019

Including Courtyard by Marriott, Babylon Tower, Swissotel, Le Meridien, Interstate Hotels and Resorts, Pulmann Hotels & Resort, Wellness Resort & Spa on Mtsvane Kontskh, Ramada Resorts, Metro Sky Tower, Twin Tower.

company

Puma and Nike Factory Opens in Poti

A new garment factory of “Adjara Textile” will be opened tomorrow in Poti, where 3 thousand people will be employed. As the financial director of “Adjara Textile” Gia Lominadze, 40 million GEL of Turkish investment will be allocated.

February 26, 2018 #227

Clean Energy Group Georgia Hosted a Public Discussion About the Namakhvani HPP Cascade Project

C

lean Energy Group Georgia hosted a public discussion with local residents regarding the Namakhvani Hydropower Plant (HPP) cascade project. The Namakhvani HPP is a cascade of hydropower plants (Upper and Lower Namakhvani) that will be built on Rioni River and have an installed capacity of 400 MW. The project’s construction will generate up to 3000 jobs. A majority of the workforce will be Georgian with a focus on recruiting qualified local residents. The project will assist Georgia in increasing its energy security, provide affordable renewable energy to the population, improve flood control on the Rioni river, and be a major tax payer in the country. The project will also ensure minimal environmental impact by mitigating environmental risks in the course of construction. Clean Energy Group Georgia is guided by international best practices and the environmental and social standards set forth by the institutions financing the project (IFC and EBRD). Bjorn Brandzaeg, the CEO of Clean Energy Group Georgia,

introduced the Namakhvani HPP project, stating, “The participation of each local resident in the Discussion about the project is very important for us. We are building a strategic infrastructure project that will play a significant part in helping Georgia achieve energy independence while, at the same time, promoting the region’s long-term economic development.” One of Clean Energy Group Georgia’s primary goals in constructing the Namakhvani HPP is to promote the region’s long-term development by implementing social projects tailored to the region’s needs. These projects will focus on

improving the livelihood and living standards of those living in the project area and be implemented in close cooperation with the local population. Both residents and representatives of local governments took part in the public discussions. The majority of questions concerned environmental issues, the project’s geographic area, guidelines for awarding compensation, employment, and the construction start date. The company will continue to communicate with local residents on a daily basis through the information centers which it has established in these communities.

Georgia’s trade with EU worth $211.5 million in January 2018

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eorgia is strengthening its trade relations with the European Union (EU), the Commonwealth of Independent States (CIS) and other countries. Last month, trade turnover with European Union (EU) countries increased by 6.6 percent year-on-year (y/y) and amounted to $211.5 million, shows the preliminary data from the National Statistics Office of Georgia (Geostat). Exports were worth $64.2 million (21.4 percent higher), while imports reached $147.2 million (1.2 percent higher). The share of the EU countries in the external trade turnover of Georgia amounted to 25.9 percent - 28.8 percent in exports and 24.8 percent in imports.

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

Trade with CIS countries In January 2018, the external trade turnover of Georgia with the Commonwealth of Independent States (CIS) countries totalled $305.2 million – 38.2 percent higher compared to January 2017. Exports were worth $80.8 million (23.5 percent higher) while imports equalled $224.4 million (44.4 percent higher). Georgia’s top trading partners in January 2018 Turkey, Russia and Azerbaijan are Georgia’s top trade partners in January 2018, said Geostat. Last month Georgia’s top 10 trade partners made for 69 percent of the country’s total trade turnover, with Turkey ($112 million), Russia ($94.1 billion) and Azerbaijan ($91.1 million) filling the top three spots. What are Georgia’s main

exports? Georgia’s top exported commodities in January 2018 were: Copper ores and concentrates (worth $34.1 million, or 15.3 percent of total exports) Ferro-alloys (worth $27.3 million, or 12.3 percent of total exports) Motor cars (worth $15.7 million, or seven percent of total exports) What are Georgia’s main imports? Georgia’s top imported commodities were: Petroleum and petroleum oils (worth $57.1 million, or 9.6 percent of total imports) Petroleum gases (worth $48.4 million, or 8.2 percent of total imports) Motor cars (worth $29.8 million or five percent of total imports)

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

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


February 26, 2018 #227

publicity

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econo-mix

February 26, 2018 #227

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

Gia Lominadze Financial director of LLC Adjara Textile

Merab Janiashvili Economic Analyst

According to Geostat indicators, increased prices on food and soft drinks have mainly shaped inflation indicator. Since poverty level in Georgia is 21.3% (the 2016 indicators), food, payments for public utilities and essentials occupy a main place in expenses of our citizens.

The 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, 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

‘‘

A new clothing factory will open in Poti on February 22. Prime Minister of Georgia Giorgi Kvirikashvili and other government officials will attend the inauguration ceremony. The project is implemented by LLC Adjara Textile. The new plant will sew sports shorts and tops of Nike, New Balance , Under Armour, Puma and Lotto brands. In his interview for the Caucasus Business Week (CBW), Gia Lominadze, financial director of LLC Adjara Textile, talks about future plans. -MR. Gia, when the plant construction works started? Where is the plant located and how much space does it occupy? -The construction works in Poti started a year ago. Total space of the territory is 40 000 square meters, however, the building occupies only 15 000 square meters. -Do you plan to fully employ the land in the future and expand production? – At the first stage, we have opened the new enterprise. In the second phase we will fully employ the territory in 2019-2020. As a result, our output will also increase. -What is the investment volume and which country does the investment come from? -The project is implemented by Turkish investment (100%). 25 million GEL has been already invested, while total value of the project is 40 million GEL. -Which brand products will the plant manufacture? -The plant is equipped with cutting-edge sewing machines and it is able to manufacture sports clothes for women, men and children. The plant will sew brand products of Nike, New Balance , Under Armour, Puma and Lotto, namely, football shorts and Tops. -Do you plan to add new brand products in the future? -We will sew the same brand products. In the second phase, we will only increase output and employ more citizens. -How many persons do you employ now? How many citizens will be employed by 2019-2020? -Initially, Adjara Textile will employ 700 individuals, while the number of employees will increase to about 3 000 persons after the plant moves to full-scale operation. -Will be the products sold on domestic market or they will be exported abroad? -LLC Adjara Textile cooperates with such international companies as Nike, Puma, Lotto, “New Balance” and “Under Armour”. The company will be oriented on exports by 100%. Our products will be sent to head offices of the mentioned brands and from there the products will be distributed to various directions all over the world. -Do you plan to sell products on domestic market too? -This is possible. When international companies receive our products and distribute them to various destinations in the world, it is not ruled out to sell our products on domestic market too.

‘‘

Turkish Investor Funds 40 Million in Poti Clothing Factory To Make Famous Brands

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 countries: 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.

“I believe that pension reform is one of the most important reforms for our country and it must be implemented. The Finance and Budget Committee has a number of remarks regarding the Draft Law on Accumulated Pensions, which will be sent to the Committee on Healthcare and Social Issues. They should be taken into consideration by the committee as well as the government, in order to improve the draft law and eventually get a fullfledged law”.

Irakli Kovzanadze

Chairman of the Parliamentary Finance and Budget Committee


February 26, 2018 #227

publicity

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T

taxes

hese initiatives introduce several preferences: 1. all businesses with about 500 000 GEL revenues will receive the status of a small entrepreneur all businesses with about (today this top margin make sup 100 000 GEL); 2. the 5% tax on entrepreneurs will be lowered to 1%; 3. the current practice enables to pay taxes in advance. This practice will be removed and small entrepreneurs will pay 1% turnover tax at the end of a month; 4. small entrepreneurs wishing to revenues will receive the be registered as VAT payers will be able to count VAT in standard regime or status of a small entreget back the surplus amount from the central budget within 5-7 days. Business Ombudsman Irakli Lekvinadze hails this initiative. These legal amendpreneur ments will set important preferences to entrepreneurs, he said. “The initiative will come into force in July. I believe these amendments will bring important preferences for entrepreneurs, physical bodies, who have on entrepreneurs will be 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 lowered to 1% enjoy 1% taxation regime and only fill out declarations. These changes do not refer to VAT. Companies with more than 100 000 GEL turnover small entrepreneurs wishing will pay VAT anyway. Preferences will be applied to the part of revenue to be registered as VAT or turnover tax”, Lekvinadze noted. Economic experts have also approved the mentioned initiatives. Expert Levan Kalandadze hails the payers will be able to count initiative, but suggests the Government to lift the VAT top margin VAT in standard regime or for higher effectiveness. “I suppose that VAT top margin will be 100 000 GEL again. This signifies small entrepreneurs with more than get back the surplus amount 100 000 GEL will pay VAT anyway. To make this model more perfrom the central budget fect and efficient, the Authorities should not only expand the circle of companies with the small business status, but also to raise VAT top within 5-7 days margin to 500 000 GEL. As a result, small entrepreneurs with about 500 000 GEL turnover will enjoy the same preferences as enterprises New preferential tax with about 100 000 GEL turnover”, Levan Kalandadze said. Thew new wave of reforms and their content announced by the Prime Minregime will refer to alister and the Finance Minister is impressive, Beka Odisharia, deputy most 100% of physical head of Georgian Dream parliamentary faction commented regarding entrepreneurs, that is the Prime Minister’s initiatives. The mentioned initiatives will refer to ten thousands of citizens of Georgia, who create wealth, employ other citizens and ensure worthy life for their families, Beka Odisharia said. “Formation, promotion and entities and people expansion of middle class remains a key social-economic challenge for behind them. our country.. The mentioned reform is to bolster this important direction. I believe that each entrepreneur, who will enjoy these preferences, will create additional job places,”, Beka Odisharia said. AYFB vice presiThis signifies small entrepredent Paata Bairakhtari also hails the initiative, but he also outlines risks neurs with more than that may arise. “Small and medium business is a backbone of state economy in developed countries. But we have opposite situation – small and medium business in the gravest situation. For example, medium business emwill pay VAT ploys 4 times less people, than the major business. Last year we introduced Estonian Model of profit tax and, in practice, only major business has gained anyway benefits from it, because today small business is not able to make reinvestments. Deficit arisen after introduction of the mentioned model was covered by small business and ordinary citizens. Unlike Estonian model, the mentioned initiative is directed to development of small business, because the small business will be able to save financial resources, on the one hand, and protect itself from bureaucratic barriers, on the other hand. However, the mentioned tax preferences also comprise certain risks. For example, nobody talks about how the budget deficit will be balanced after enactment of the mentioned law. Nobody says whether this deficit will be balanced by ordinary citizens, as this happened in case of Estonian Model. These issues comprise serious risks and require valuable calculation and analysis. Otherwise, serious threats may arise in the country”, Bairakhtari noted. Small business representatives also appraise the mentioned changes and ask the Government to ensure an access to financial resources after enforcement of new tax preferences. Paata Abramia, founder of Greenpack packing materials manufacturing company explains that the mentioned preference will seriously stimulate small business development. “Business will have all preconditions to work valuably and it will not face temptation to either hide incomes or show less revenues”, Abramia noted. If the government expands an access to financial resources, this will further stimulate the business. Businesses, which had 100 000 GEL turnover and now they will be able to increase turnover to 500 000 GEL, they need corresponding financial resources, Abramia said. «If the Government takes consecutive steps in this direction, we will genuinely welcome these efforts», Abramia said. Vazha Natroshvili, head of Verdzi meat products manufacturing company, located in Dedoplistskaro, says that this preference will be applied to both individual entrepreneurs and LLCs and it will bring only positive effects. “Company with 100 000 GEL turnover used to pay 5% to the state budget, that is 20 000 GEL. Under the new regulations, this amount has shrunk 5 times to 1%, that is 4 000 GEL. The saved amount will be directed to the company development, salaries will increase. This is wonderful decision”, Natroshvili noted. The new initiative will increase quantity of small business companies, he added. It will be excellent if the Authorities help small and medium business in improving the legislation. Today many organizations assume obligations, then fail to fulfill these obligations and go bankrupt. However, similar organizations bear no responsibility and this is not a good practice, Natroshvili noted.

500 000 GEL The 5% tax

120 000

100 000 GEL

February 26, 2018 #227

Small Business Preferences and Available Risks

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ew tax preferences for small business sector will come into force on July 1. The government’s initiative calls for cutting the turnover tax for small business 5 times. As a result, companies with 500 000 GEL turnover will move to the category of small business. This initiative announced by Prime Minister Giorgi Kvirikashvili encourages that preferential taxation regime will considerably enliven the business sector performance. Government of Georgia, namely, Ministry of Finance has developed the package of these reforms, Minister of Finance Mamuka Bakhtadze said. “This initiative is a unique decision in the world practice and International Monetary Fund (IMF) fully backs it. New preferential tax regime will refer to almost 100% of physical entrepreneurs, that is 120 000 entities and people behind them. Our priority is to enable Georgian entrepreneurs to spend less time on communication with taxation offices so as they make focus on their business”, Minister of Finance Mamuka Bakhtadze noted.


February 26, 2018 #227

business

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Unclear Perspectives for Improving Situation on Pharmaceutical Market Average Markup Margin on Medications is 102%

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overnment of Georgia has been long trying to tackle problems on pharmaceutical market, however, these attempts have not brought efficient results yet. Both medications and medical services rise in value stage by stage. Patients often express discontent against doctors too, who prescribe more and more medications. 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. Georgian Health Minister David Sergeenko noted that there is sharp competition on the market and there is no space for any cartel collusion system. “Health Ministry has access to medications, customs and retail prices and markups, but the existing indicators do not prove that companies gain surplus profits”, Health Minister David Sergeenko noted. In response to the question whether medication prices grow because of monopolies and cartel collusions, David Sergeenko said that new players have appeared on the Georgian pharmaceutical market over the past 18 months and they have introduced transparent rules. As a result, any mechanisms for manipulations and collusions have been reduced to minimum, he said. “Today we have sharp competition on the pharmaceutical market and I believe there cannot be any sort of cartel collusion system”, Sergeenko noted. In response to the question, whether it is expedient that one person own a hospital, maternity hospital, inpatient clinic, pharmacy, insurance company and related directions, the Health Minister noted that this system is called as a vertical integration system and this is not a good practice.

“We should analyze these factors and risks, however, artificial restrictions will be counterproductive. This process should not proceed for a long period and the Health System should receive its logical form. In 2013 this list also included urgent medical aid service and we had a catastrophic form of vertical integration. This practice was removed on January 1, 2014, when the Authorities took the district urgent medical aid services in management. This move has seriously corrected the then situation”, David Sergeenko noted. To receive the full picture, we should compare markups in Georgia with markups in European countries, even more so solvency of averaged European citizen is higher compared to solvency of Georgia citizen. The research conducted by Curatio international fund shows that in Georgia the markup margin exceeds the markups in European countries at least twice. According to the same research, the average markup in Georgia makes up 102%, while in European countries the markup amount is as follows: Hungary – 27%; Poland – 32%; Czech Republic – 35%, Greece – 46%, Italy – 49%. Markups are calculated starting from imports of medications ending with the retail network. Georgian citizens find it more and more difficult to buy medications and the situation worsens year to year in this respect. Therefore, the government plans to expand the list of medications that our citizens are able to buy for 1 GEL or for preferential price. The information was unveiled by Health Minister David Sergeenko after his meeting with pharmaceutical companies. Previously, only state program beneficiaries with about 100 000 scores could receive 23 inpatient medications, but now this list will be enlarged and pensioners, PWDs and other segments will be also included in the list and the number of medications will increase to 50 ones. “We have never made focus on any private company. We want to arrange as competitive system as possible and open entrance for new players to boost competition. On the other hand, it is our obligation to shape clear control system, jointly with private partners. This two factors guarantees to receive desirable results”, Sergeenko said. Effectiveness of the Health Ministry measures will appear later, but today situation on Georgian pharmaceutical market remains unchanged.


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PR Person

February 26, 2018 #227

“The main priority of public relations is to gain trust of public’’ - Why did you decide to enter this field and what opportunities does it give in terms of career growth? Of course it’s very interesting and responsible, you need to follow new trends, get acquainted with novelties, while you need to work on yourself a lot. All this creates a basis to become successful. I think, there is no crisis situation that specialist cannot overcome. I’ve never thought of what opportunities does it give in terms of career growth, as we create opportunities by ourselves with set goals and implemented projects. - What is it necessary to hold successful communication with public? Setting right strategy is a must for successful communication, that’s based on existing situation analysis, what does society need and expect from us, and sharing it on a very simple language. It’s important communication to be easily perceived, whatever way we use. The priority is to gain trust and positive attitude of public. - What three tips would you offer someone just starting out in PR? - The first is to get as much information as possible and get acquainted with the area in which you will be employed, because if you do not know the company well, you cannot tell others about it. It is also important to have direct contact and connection with all the decision-makers.

Interview with Head of Public Relations department of ‘’Telasi’’, Valeri Pantsulaia.

- Second, establish good contacts with media. It is also important to contact with relevant experts and representatives of NGOs who can influence public opinion. The third one is not to afraid of problems and challenges. I’d also add,PR specialist should be aware of the basics of psychology, sociology, political science, strategic management, marketing and media relations. - Describe your typical work week. Work Week begins with a review of the weekly plan, meetings and activities. Generally, one year plan is designed to be a pre-requisite, of course there may be an unforeseen and unplanned crisis situation that needs to be dealt efficiently. - How would you go about finding relevant contacts and sources? Personal meetings, participating in various events. As well as planning and implementing new projects, direct meetings with PR and marketing professionals, to consider exchange ideas and advice. - How would you prioritize and start your work day? In the morning, before going to work, I receive the news of the day through the morning programs and social media. The working day begins with the meeting with the employees regarding the ongoing work and plans. Then allocate tasks to employees. It is important to have time for intercontinental

relationships on different issues. - What skills does one need to be a successful PR Manager? A lot of work on yourself, strategic thinking, good communication skills, should be trusted by public, quickly and efficiently manage the crisis situation and teamwork. - What trait do you value the most in your co-workers? Professionalism, punctuality, creativity. - What is the best PR practice technology can’t change? The human factor can’t be replaced by any technology.Today, many people are talking about creating artificial intelligence and replacing it with a human robot. The main priority of the public relations is to obtain trust in the public, which is responsible for human relationships. But everything can happen if we believe fantastic works. The development of digital technologies has had a huge impact on PR; we have received a new face of social media, which is becoming increasingly popular and makes it easier to get in touch with different target groups. Visual sensitivity is more actively used during PR campaigns and is a very effective means; Social media has also created the need for rapid reaction in real time. So, in order to conduct successful campaigns, companies are increasingly using social media today, which will continue in the future.


February 26, 2018 #227

opinion

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Shadow Sector’s Ratio in Georgian Economy Exceeds 50% Austria is the world’s second least shadow economy following Switzerland, according to the 2018 IMF report saying that Switzerland has the lowest shadow economy ratio in GDP (7.2%), while the highest ratio is recorded in Bolivia (62.3%).

Mariam Lashkhi

Analyst for TSU Center for Analysis and Forecast

According to the IMF interpretation, shadow economy is known under various names: hidden economy, grey economy, black economy, cash-based economy or informal economy. According to this report, total volume of shadow sector in the global economy accounts for 31.9%, based on 19912015 data from 158 countries. According to IMF, shadow economy comprises all economic activities that are hidden on government level, due to monetary, regulatory and institutional reasons”. Namely, shadow sector evades taxes and social allowances due to monetary motivations, while regulatory component implies an evasion from state bureaucratic systems and restrictions. As to institutional reasons, it implies a law against corruption, quality of political institutions and fragile legislative governance in the country. At the same time, the mentioned report on shadow economy does not highlight illegal and criminal components, as well as activities based on the Do Yourself principles. Changes over the past years have simplified business commencement and implementation process. These changes were to bolster honest business activities, even in terms of taxes. Regretfully, according to the IMF report, the ratio of shadow economy in Georgia exceeds 50%.The average ratio over the past 20 years was 64.87%. I think nobody would argue that this indicator reflects unfavorable results in not only European countries, but even in our region and this is proved by shadow economy indicators in the neighboring countries: Turkey – 31.38%, Russia – 38.42%, Armenia – 42.59%, Azerbaijan – 52.19%. Research by Association of

Chartered Certified Accountants (ACCA) gives the almost same results for our neighboring countries. The mentioned organization has not explored the same components in Georgia, regretfully. It should be also noted that in 19912009 shadow economy was growing, while starting 2010 the shadow economy ratio started declining. This signifies after the 2008 war the Authorities activated efforts for mobilizing money resources and maximizing economic transparency for overcoming overcome financial problems in post-war period. As a result, the Government could accumulate more taxes from and the IMF report also proves that informal economic ratio started declining in 2010 from 68.46% and shrank to 53.07% as of 2015. It is not surprising that in highincome countries the ratio of shadow economy is very low, while in low-income countries the ratio of shadow economy is high and the Georgian example proves this consideration. We realize that similar results may make Georgia less attractive for foreign investors and beat stereotypes that Georgia is the most transparent and attractive business environment in the Region. It should be also noted that the IMF report also comprises certain paradoxes. For example, South Korea and Taiwan demonstrates unusually high ratio of shadow economy (24%), which exceeds the averaged indicator of developed countries several times and, on the contrary, weak economy like Vietnam shows unusually low ratio of shadow economy (18%). We hope that Georgia may become the same exception taking into account the declining shadow economy ratio since 2010.


business

10 Berliner Wein Trophy Invited Georgian Wine Experts as Judges This year, the organizers of “Berliner Wein Trophy” invited Chairman of the National Wine Agency Giorgi Samanishvili, Head of the Tasting Commission Ana Godabrelidze and Head of Marketing and PR Department Irakli Cholobargia as the judges of the competition. This is the 22nd time the prestigious international competition “Berliner Wein Trophy ” is held, with the organization of “Deutsche Wine Marketing” and under the patronage of the International Organisation of Vine and Wine (OIV) and the International Union of Oenologists (UIOE). Participation of Georgian wine experts as the professional judges of the competition will further enhance the awareness of Georgian wine in the society of professional winemaking of the world. “Berliner Wein Trophy” is the most important and largest international wine competition of Germany and famous wine-makers participate in this competition from all over the world.

Tbilisi City Hall Suspends Construction of Sveti Complex SSveti development company was building a residential complex of Sveti in Didube without due building permit. As a result, Tbilisi City Hall supervisory office has halted the construction works because of violation of project parameters. As resultant, the company clients, who have paid money for apartments in advance, demand explanations from the company management. The sales manager confirms that the company has problems, but asserts that the the company will take the building permit later and the works will be continued. According to the official website of Sveti company, it has been implementing several projects in Tbilisi: Sveti City 1 with 1200 apartments on Chkondideli Street in Nadzaladevi, Tsereteli Tower with 27 apartments on Tsereteli Avenue in Didube, Sveti City 3 with 15 floors on Nutsubidze Street and Sveti Isani with 10 floors on Kairo Street.

United Colors of Benetton Returns to Georgian Market United Colors of Benetton Returns to Georgian Market. The shop will be located in a shopping center”Galeria Tbilisi” on the first floor where the repair works are almost completed. The store will present all three lines – women, men and baby clothes, as well as accessories and shoes. “United Colors of Benetton” stores closed in Tbilisi several years ago.

February 26, 2018 #227

Georgian Irakli Kvirikadze Received European Shooting Stars Award Georgian actor, leading actor of movie Hostages Irakli Kvirikadze received European Shooting Stars Award at the 68th Berlinale International Film Festival Berlin, 2018. EFP European Shooting Star one of EFP‘s flagship programmes, has placed some of the most promising young actors from all over Europe into the limelight over the past 20 years and proven to be an essential stepping stone for launching their international careers. The most prominent names in recent years included: Carey Mulligan (“Mudbound”), Alba Rohrwacher (“Ismael’s Ghosts”), Alicia Vikander(“Submergence”), Pilou Asbaek (“Game of Thrones”), Riz Ahmed (“Star Wars: Rogue One”), Mikkel Boe Foelsgard (“Land of Mine”), and George MacKay (“Captain Fantastic”).

Central Heating Remote Control System from Georgian Startup – Wi-Fi Thermostat MOSTAT Technological product MOSTAT, same as Wi-Fi thermostat for the central heating systems, belongs to the startup “Alien Green”, which was founded in 2016 by Paata Kveselava and Lasha Dolidze. As its creators say, in addition to the remote control of heating systems, the product provides a savings of up to 16-39% in the living space, while reducing the cost of commercial heating up to 50%. The Georgian energy efficiency product MOSTAT passed many test regimes, won the “Technopark” competition of ideas and entered the business incubator where the prototype got the final form. Thermostat retailed for sale on December 20, 2017. Marketer had an interview with co-founder,

Paata Kveselava: 3 years ago when we moved to a new office, we had a huge heating system bills, we decided to solve this problem. It turned out that there were just old generation thermostats on the market, the only way was to order it online, which was very expensive and compatibility with our heating boiler was questioned. We decided to set up thermostat for us, and received a 20% less tax. Mostat consists of 2 components: thermostat, same as management block that is installed in the heating boiler and room temperature and humidity transmission sensor that is installed in the living room or commercial area of ​​the room where we want to define the temperature / moisture.

Store Cards – Georgian Mobile Application as Virtual Wallet for Saving Cards A week ago Georgian mobile application Store Cards was introduced on App Store. The new application combines saving cards of various networks or pharmacies. Consequently, with iOS system, consumers will not have to search various cards in their wallets in either stores or pharmacies. Interview by Marketer Virtual wallet of saving cards was developed by Rezo Mesarkishvili, who has also created SMS Spam Filter for filtering AD messages. Is Store Cards an indemand application and how is it processed? -Many networks have introduced saving or bonus cards. I have seen many people to be taking out wallets and seeking cards in it. For example, I had many cases when I had forgotten necessary cards in specific moments. Our product combines func-

tions of all saving cards and unites all data in the same application. This signifies any user is able to select a specific card on mobile phone screen, enter code and process it. I have used Store Card many times and it is very comfortable. How are data of various saving cads inserted into the application? – Naturally, consumer knows the network of cards they process and they insert data themselves. There are two variants: template – finding visual template and inserting their own data, or if there is no template, they can take a photo of the card and upload it into the application. Both methods will store the consumer’s data into the application. Application is free of charge, however, quantity of cards is limited. Three cards may be stored free.


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New Party for the Animal kicks off today in Belgium

Retail business director to run VTB Bank (Armenia) The Retail Business Head Ivan Telegin will run VTB Bank (Armenia). “The directorial board has made its decision and issued its recommendation, and we expect that after the central bank’s approval Ivan Telegin will take up the office as head of the bank,” Member of VTB Bank Management Board Vladimir Verkhoshinsky said at a news conference on Wednesday. He said the decision had been made after longlasting discussions to ensure continuity of the development. Verkhoshinsky thanked Chairman of the VTB Bank (Armenia) Board of Directors Yury Gusev, who has worked in VTB Bank (Armenia) for nine years, of which six years as head of the bank. “We, as parent bank, have always been happy about the results of BTV Bank (Armenia), which is one of pivotal banks, but unfortunately, Yury has decided to continue his career in Russia,” he said. “He will lead the Moscow business at Bank Otkritie.” Verkhoshinsky praised the team of VTB Bank (Armenia). “We have met the bank’s staff, held strategic session, I met with the management of the central bank and we discussed the development of the country’s banking sector, modern banking trends and the development of VTB Bank (Armenia),” he said. He congratulated Telegin on his appointments expressing hope that he will justify the credit of VTB Group’s trust. VTB Bank Armenia (Armenian Savings Bank before June 2006) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia).

Azerbaijan’s IT company to export tech solutions to Uzbekistan Azerbaijan’s Neuron Technologies IT company prepares to implement an educationrelated project in Uzbekistan, head of the company Ismayil Alakbarov told Trend. According to Alakbarov, the project provides for implementation of Unibook online education management platform in Uzbek Education Ministry. Talks on project implementation were held recently with Deputy Education Minister of Uzbekistan Uzokboy Begimkulov. “The deputy minister was informed that the company built a unified platform for Azerbaijan’s Education Ministry around Unibook system. According to the agreement reached Neuron Technologies will implement the system in Uzbek ministry,” Alakbarov said. According to Alakbarov, consultations with experts will be held to modify the Unibook platform for the needs of Uzbek education system. The sides have also agreed to hold a webinar with an online presentation of the system and training in Baku for 84 educational facilities of Uzbekistan. Neuron Technologies company also plans to open a representative office in Tashkent, allowing to export home-grown technological solutions to Uzbek market under the “Made in Azerbaijan” label.

The political party ‘DierAnimal’ was launched in Belgium today. This Belgian sister party of the Dutch Party for the Animals is the eleventh political party in the European Union that focuses its attention on the planet and animals. The bilingual political party DierAnimal aims to secure animal rights in the Belgian constitution and also seeks, among other goals, to end the intensive farming industry and animal testing. DierAnimal pleads for a healthy, sustainable, human-friendly, and animal-friendly agriculture. Moreover, DierAnimal has international ambitions: it also pleads for active support for sustainable forest preservation, forest management, and reforestation worldwide. DierAnimal is now also part of a growing, worldwide social emancipation movement. Since 2002 — when the Dutch Party for the Animals was founded — nineteen other political parties for the animals have originated worldwide. There are already representatives of parties for animals active in the Netherlands, Portugal, Germany, United Kingdom, and

Australia; parties for animals are established or are being founded in other countries as well. The launch of DierAnimal in Brussels today was attended by MEP Anja Hazekamp and Elze Boshart, chair of the international foundation of the Dutch Party for the Animals. Both are delighted and proud to now see a party standing up for the most vulnerable on this planet in Belgium as well. Elze Boshart: “We are convinced that DierAnimal can make a difference in Belgium. Belgium is the next country in which the farming industry and other types of environmental exhaustion of this planet will be fought with political activism. Parties for the animals are the only political parties that show the connections. Connections between the farming industry and deforestation, climate change and damage to our health, the focus on economic growth and the condition of the earth. Parties for the animals are the only political parties pleading for radically different policies.

Turkish Railways Joined the International Association -TransCaspian International Transport Route The Fifth Edition of the Seedstars Summit Announced for the 12th of April in Lausanne After a year of roaming the world and analyzing startup ecosystems in fast growing economies, Seedstars presents the grand finale of Seedstars World, the largest emerging markets startup competition. For its fifth anniversary, Seedstars promises its very best Summit to date, gathering 65+ handpicked startups coming from Central and Eastern Europe, the Middle East, Latin America, Asia and Africa. Spanning a wide variety of verticals, from Fin-tech to Ed-tech, Med/Bio-tech, Agri-tech, Insure-tech, Clean-tech and High/Nano-tech, they will reunite in the SwissTech Convention Center in Lausanne, Switzerland to compete for different prizes and the title of Seedstars Global Winner, qualifying to win up to $1M in equity investment. The 2018 edition will also attract startups enthusiasts, investors, business angels, government officials, incubators, NGOs and journalists from all over the world for an international and unique hands-on networking experience. 84% of the world’s population is located in emerging markets and 59% of global GDP comes from these markets. Figures and statistics confirm it, emerging markets are the future. Did you know that by 2025 annual consumption in emerging markets

will reach $30trn? And that two-thirds of the global growth is coming from emerging markets? Realizing that these figures represent opportunities to impact billions of lives, Seedstars has been connecting with the digital changemakers of the emerging world, to provide them with access to high growth opportunities.That is why, with the help of partners such as Enel, HEG Fribourg & TRECC (Transforming Education in Cocoa Communities program, part of the Jacobs Foundation), BBVA , Tag Heuer, Merck KGaA and CVCI (Chambre Vaudoise du Commerce et de l’Industrie), the fifth edition of Seedstars Summit will be celebrated with the purpose to address crucial questions: where do we want to be five years from now regarding technology and innovation? How will the entrepreneurship from fast-growing markets impact the world economy? The 2017 Seedstars Summit was a success, with more than 1’000 attendees from all over the world, around 60 startup finalists and 116 investors, who took part in more than 450 one-on-one meetings. Speakers such as Bob Collymore, CEO of Safaricom, and Alexander Galitsky, Managing Partner of Almaz Capital, animated discussions around major themes of fast growing markets.

General Meeting of the members of the International Association “Trans-Caspian International Transport Route” (TITR) held in Ankara on February 16. By the decision of the General Meeting, “Turkish State Railways – Transportation” JSC (“TCDD Taşımacılık A.Ş.”) was accepted as a Regular member of the Association.During the General Meeting volumes of cargo transported by Middle Corridor in 2017 and the beginning of 2018, plans of increase of volumes up to 4 million tons in current year, further improvements of transportation technology, as well as organization and launching of the container line traffic through the Caspian Sea since April 2018 were discussed. The composition of Managing Board of the Association was changed. As a result, Mr. Veysi Kurt, General Director of “TCDD” Transportation JSC and Mr. Beken Seidakhmetov, Permanent Representative of the PS IGC TRACECA in Kazakhstan were included to the Managing Board of the Association. On the same day, a round table “Trans-Caspian International Transport Route: Prospects and Opportunities for Turkish Business” took place. Mr. Sanzhar Yelyubayev, Vice President for Logistics of JSC “NC “Kazakhstan railways” presented general report and presentation on behalf of all members of the International Association “TITR”. He acquainted the participants with the possibilities of the infrastructure along the Middle Corridor, as well as with the plans of its further development and modernization in the countries of the route.


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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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February 26, 2018 #227

Profile for Caucasian Business Week

Caucasus Business Week #227  

Caucasus Business Week #227

Caucasus Business Week #227  

Caucasus Business Week #227

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