Caucasus Business Week #293

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July 29, 2019 -



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Business Sector on the IRI Report – National Bank fails Mission

Ivane Bakradze: David Lynch intends to establish Film Academy in Georgia

Capital Market – Alternative of Commercial Banks

The Case of the Bankers

Tirifoni Gardens: Without State Programs, the Agriculture Sector can not attract Major Investments

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Geostat: Georgia’s Trousers Exports grow by 47% to 7.5 million USD

TBC Bank Group PLC Board changes

Exports of males’ trousers, jumpsuits and shorts have increased, Geostat, the national statistics service of Georgia, says.

The Board has appointed, with immediate effect, Senior Independent Director Nikoloz Enukidze to serve as the Chairman of TBC Bank Group PLC, based on his deep knowledge of the bank, prior Chairmanship roles in banking sector and extensive regional and international experience.

Georgian Port of Batumi is the Main Gateway for Cargo Transportation to Azerbaijan from European countries. Georgian port of Batumi is the main gateway for cargo transportation to Azerbaijan from European countries. Batumi Sea Port has revealed cargo transportation volumes for the first half of this year.

Monetary Policy Rate unchanged - GEL assessed as Likely Undervalued On its 24th of July meeting, the Monetary Policy Committee (MPC) of the National Bank of Georgia decided to keep the policy rate unchanged at 6.5%.

EBRD Statement on TBC Bank Group Georgia The EBRD notes the recent board changes at TBC Bank Group PLC. The bank is a solid financial institution led by a strong management and an independent board of directors. We expect a fair and transparent due process and a prompt resolution of the case with no adverse impact on the operations of the bank.

TBC Bank shares Fall as ExChair and Deputy Face Georgian Charges TBC Bank Group PLC said Wednesday its former chair and deputy chair are both set to be charged by the public prosecutor in Georgia, confirming no charges are set to be levelled at the firm itself.

Dimitri Mamulia's Film The Criminal Man to have a Premiere at Venice Film Festival The information is provided by National Film Center.The Criminal Man is supported by National Film Center and will be presented at Venice Film Festival within the competition program "Horizons".

Georgian Ambassador in Germany : In about 6-7 Months Georgian Citizens will get Legal Jobs in Germany In about 6-7 months citizens of Georgia will be able to get legal jobs in Germany, Georgian Ambassador in Germany Elguja Khokrishvili told the Evening NewsRoom TV program.

In the Regions without Access to Electricity nearly 200 Solar Panels will be montaged The program of USAID is being implemented by Ministry of Regional Development and Infrastructure of Georgia.

Twelve Georgian Commercial Banks join Credit - Guarantee Scheme Twelve Georgian commercial banks have joined the credit-guarantee scheme with the aim to simplify access to financial resources for small and medium business companies and ensure inclusive economy growth.

The Editorial Board Follows Press Freedom Principles Publisher: LLC Caucasian Business Week - CBW Director: Levan Beglarishvili WWW.CBW.GE Address: Aleksidze Street 1 Sales: Mob: +995 591 01 39 36 Email: Editor: Nutsa Galumashvili. Mobile phone: 595 380382 Copy Editor: Ellie Rambo Reporters: Nina Gomarteli; Mariam Kopaliani; Merab Janiashvili, Economic columnist: Andria Gvidiani; Technical Assistant: Giorgi Kheladze;

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The Case of the Bankers Mamuka Khazaradze and Badri Japaridze under Accusations The Prosecutor General of Georgia has applied to the Tbilisi City Court forprohibitive measure against Mamuka Khazaradze and Badri Japaridze. On July 24 Mamuka Khazaradze and Badri Japaridze were accused of money laundering illegal incomes worth 16,664,000 USD (a crime punished by subparagraph A of part 2 of article 194 of the Georgian Criminal Code and subparagraph C of part 3 of the same article). The Prosecutor General’s Office has instituted an investigation against the legalization of illegal incomes worth 17 million USD. On January 8th, the Prosecutor’s Office released information that it had taken certain documents from TBC Bank as part of the investigation. Several international and domestic organizations have reacted to the accusations against Khazaradze and Japaridze, including the US and British embassies in Georgia, EBRD and IFC. “The International Finance Corporation (IFC) and the World Bank (WB) group, has been informed about developments around the TBC Bank and reshuffles in the supervisory board of the TBC Bank Group. We welcome the decision that the chairman and deputy chairman of the TBC Bank Group supervisory board have taken on quitting positions on the board to ensure transparent legal proceedings, and protect the bank in a hostile environment. IFC was the first international institution to become a TBC Bank stakeholder in 2000, and we will continue to support the TBC Bank Group. The Banking sector’s growth is important for economic development, and our objective is to continue development of other sectors, and ensure access to financial resources for the business sector”, the statement reads. On July 25th, the US Embassy released a special statement. ‘We express our embarrassment regarding the context and time of this accusation”, the US embassy statement reads. The Embassy stressed that the USA backs the implementation of the Anaklia seaport project, which is an important source of American investments in Georgia. Prime Minister Mamuka Bakhtadze reacted

to the American Embassy’s statement, and noted that the transparency of the investigation process will be ensured. “First of all, I would like to note that TBC Bank is a strong financial institution. It is a system bank for our economy and, naturally, I urge all parties, including Mamuka Khazaradze, and other persons and politicians, not to try to get political benefits from this process: we should not damage such an important financial institution for our economy by similar statements. TBC Bank is a systemic, strong bank represented at the London Stock Exchange (LSE). Therefore, we should show restraint and a sense of responsibility in our statement and appraisals. As for our strategic partner and statements by the US Embassy, this statement promulgates the same aspirations as every Georgian citizen – the trial should be transparent and impartial. And we will ensure these values. I would like to reiterate that Georgia provides European standards in its judicial system. Therefore, I believe there will be no questions around this process”, Mamuka Bakhtadze said. Prime Minister Mamuka Bakhtadze also talked about the Anaklia Seaport’s construction issues. “Our team has initiated this important project. Without a deepwater seaport, Georgia will not be able to ensure the crucial implementation of its role as a transport hub. Therefore, this project is of strategic importance for us. The Anaklia Seaport project will be implemented, as necessary,” Prime Minister noted. The former Economy Minister also disagrees that the accusations against Khazaradze relate to Anaklia Seaport project. “Naturally, similar accusations cannot have a positive influence on business”, Giorgi Kobulia said; however, he asserts that these accusations are not motivated by Khazaradze’s engagement in the Anaklia Port project. It should be noted that there is huge public interest in this case. The Prosecutor’s Office also realized that it should be based on substantiated arguments, Kobulia concluded. By Merab Janiashvili

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Tirifoni Gardens: Without State Programs, the Agriculture Sector can not attract Major Investments “The state-guaranteed safety of property and investments is a necessary component to form small business”, Tirifoni Gardens founder Zurab Gojiashvili told the TV program Business Partner. The agriculture sector, which comprises high risks, cannot attract major investments without state programs, he said. “I bought lands in the Shida Kartli region long ago, but I decided to arrange apple gardens in 2014, after the authorities launched agriculture sector support programs”, Gojiashvili noted. “I decided to arrange gardens in 2014, after the Government promised financial and

organizational support for my perennial agricultural plants at the beginning of 2014. We decided to arrange very intensive gardens, and started with six hectares. Without state support, I would not make any effort. It is unimaginable to implement long-term investments without state support, even more so in a field of major investments such as perennial gardening and planting, and in risky zone as the villages near the occupied regions. Support was proposed with three programs: a subsidized agro loan, the cheap agro loan “Plant the Future”, and a machinery co-financing program. All these components

have mostly helped”, Gojiashvili said. Tirifoni Gardens founder says that the stateguaranteed safety of property and investments is a key precondition for starting businesses, and the current situation allows for such opportunities. “The fundamental aspect is that they must guarantee the safety of our property, and invested resources so the authorities can provide these guarantees. This is a necessary component for such family businesses, as is any form of small business. The economy cannot be developed without a small and medium businesses”, Zurab Gojiashvili noted.

As for the direction that the government should look towards involve as many in the agriculture sector as possible, Gojiashvili explained that food safety issues should first of all be ensured. “As soon as our citizens learn that this or that specific food product is safe and useful, much better conditions will be result. Surprisingly, Georgia even imports apples. In 2016, the country imported 12,000 tons of apples. It is necessary to arrange refrigerator complexes, so that the country has a sufficient apple harvest”, Gojiashvili noted.

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According to a report by the International Republican Institute (IRI), the majority of Georgian citizens negatively appraises the National Bank’s activities: 62% voice discontent with the NBG’s performance, 25% have positive attitudes, and 13% have a more neutral position. How do the business sector and experts appraise NBG performance, especially amid the depreciation of the GEL exchange rate? Irakli Gurchiani, founder of Toyota Center Tbilisi, explains that the NBG fails to properly fulfill its various functions, in this instance to regulate the GEL exchange rate, yet it is taking no steps. GEL volatility will have a quite negative effect on business, including a halt to sales. There are problems with economic development in the country. The economy is not well developed, and consequently, the business sector sees no progress either, he said. “0.1% GDP growth brings positive effect for our business, because the company’s sales rise. Regretfully, similar changes rarely take place in the country. The solvency of our citizens is declining”, the Toyota Center’s founder noted. “The NBG is tasked with carrying out interventions on the money-credit market. Today, they have announced a floating exchange rate, but the regulator is able to take other steps, too, and to protect the currency market. No additional legislative records are required for stabilizing the situation. First of all, the government’s economic team and the NBG should take all due decisions. Amid similar shocks in the country, naturally, the regulator should take the proper steps”,

Edisher Mamaladze, head of the Supervisory Board of Saqkabeli noted. The business sector cannot be developed amid GEL exchange rate volatility, he said. “We have domestic production, but some raw materials are imported from abroad, and its cost is reflected in the production value. The unstable GEL does not frustrate our production, but in the future, specific projects will be revised in terms of investments and budgeting”, Mamaladze said. The businessman notes that it is unpleasant when the GEL exchange rate shows similar volatility. The year of 2018 ended with the exchange rate at 1USD=2.64 GEL, and now the rate has fallen to almost 3 GEL. The current situation will provoke inflation, price hikes, and so on, he added. “At this stage, this price growth is not sensible, but in the near future the GEL’s devaluation will influence prices. Georgia is an import-dependent country. Our exports are much lower compared to imports, and the negative balance will grow”, Mamaladze noted. Coca-Cola Bottlers Georgia founder Temur Chkonia says that the NBG’s functions should be revised. “Today, the GEL exchange rate aggravates the general situation. We face instability and a lack of information. The NBG’s president shows indifference, provides confident speeches that nothing bad happens in the country. This cannot be continued. I believe the NBG President should provide profound and serious explanations for the business sector, and the whole country asks what plans the NBG has, and whether the regulator should intervene. If the NBG does not interfere by strengthening the GEL, and it only releases information about market realities, then the NBG’s functions should be revised. The fact is, certain problems exist in the NBG, and therefore, somebody should provide due explanations”, Chkonia noted. Kula Cannery founder Vano Goglidze explains that such instability in the GEL rate should cease, and the higher but stable exchange rate is better. An unstable rate confuses the business sector, and has paused planned and new investment projects, he said. “Prices on everything are growing, including raw materials, public utilities, electricity, gas, water. When the exchange rate decreases, prices remain high anyway. Instability leaves the situation unclear for tomorrow. In this situation, any business strategy does not work. Those who have launched projects will finish them, but new projects may be revised by 10%15%. If risks are calculated well, the ongoing projects will not be put on hold. We also implement new projects, including a new plant construction project, and at this stage, we are trying to maintain this 10%-15% margin”, Goglidze said. The USA-based financier Temur Basilia is not surprised at this public position against the NBG, because over the past 10

Business Sector on the IRI Report – National Bank fails Mission

years, various public surveys have shown a negative attitude to the NBG. The financier notes that this is an unfortunate reality, because the average investor and older generations remember that the NBG was one of the bright spots 15-20 years ago. It used to carry out reasonable money-credit policy to ensure financial stability. The NBG used to keep continuous contact with society, bear responsibility, and consequently, our society had an essential trust here, Basilia noted. ‘Regretfully, over the past 10-12 years, the NBG’s degradation has continued. We remind you that the then authorities intended to entirely abolish the NBG. After this, the banking sector was politicized, and this sector became not an engine to stimulate the economy, but an obstacle for economic development (entitling ownership of non core assets killed the competitive environment, as well as refinancing loan instruments and so on). Regretfully, this process continues even today”, Basilia said. Georgian society realizes very well how the NBG manipulates the GEL exchange rate by order of the so-called dominant commercial banks. A lot of questions remain unanswered. Regretfully, in this instance, it avoids answering these questions and effective communication with the society, he said.

Ivane Bakradze: David Lynch intends to establish Film Academy in Georgia

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The Georgian audience is looking forward to seeing The Other Me, the Georgian-American film that was shot in Georgia. This is natural expectation, because the audience always appreciates Hollywood actors and OSCAR-winning producers. Giga Agladze has already finished shooting The Other Me. Jointly with David Lynch, Georgian businessman Ivane Bakradze is also an executive producer of the film. He is a successful oil trader with 30 year

Lynch Foundation in the Caucasus.

We have finished shooting the film. Joana Plafsky, who is oscar winning producer, is co-producer of the film jointly with us. Hollywood’s stars such as Jim Sturgess, Andreja Pejik, Jordi Molla,

Two years ago David Lynch arrived in Georgia and we discussed this issue in details. Georgia is a country of huge cinematography traditions. David Lynch has realized this and we established David

experience. In Belize he has established a transnational oil importer company Fryona Commerce, which trades in oil products mainly in Turkmenistan, Kazakhstan and Azerbaijan. Ivane Bakradze’s business portfolio comprises oil products (trading, transportation, processing), development sector, international commerce, power sector and movie industry. In 2017 Ivane Bakradze founded David

Rhona Mira, Roger Ashton Griffith and Michael Socha, Antonia Campbell Hughes, Orla Brady have visited Georgia. The film was already announced at Cannes Festival and was covered by such editions as Hollywood Reporter and Screendaily. American company CMG will carry out the further international promotion and distribution of the film. At this stage, we are working on the film editing. David Lynch intends to take active part in

Lynch Foundation in the Caucasus with the aim to implement similar projects. We hope the Georgian Authorities realize the importance of this academy. When so many actors of Hollywood arrive in Georgia and David Lynch personally engages in implementing major projects, this is the best promotion of our country and a guarantee of stability.

Mr. Ivane, Giga Agladze has finished shooting The Other Me film in Georgia. You and David Lynch are executive producers. What works are left?

this process. The film will be finished in November and the audience will see it at Berlin film festival. According to our information, David Lynch is interested to establish Film Academy in Georgia.

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Salome Gulordava: "The User’s Behaviour became Digital" Interview with Head of Marketing Department of "Hotel Museum", Salome Gulordava. What important features should a marketing manager focus on, and what are their roles in an organization?

What important features should a marketing manager focus on, and what are their roles in an organization?

As it often happens, I entered university without much of a thought for the faculty of law, but I immediately realized that I was in the wrong place, and two years later, during a process of self and profession discovery, and found myself at one ordinary lecture in the UK, where I realised I witnessed something interesting, and chose my new profession that day. I still actively attend lectures, trainings and workshops in or outside Georgia.

As every person needs love for happiness and development, a company needs it in the same way. The head of marketing should be in love with their job, look at the company in the eyes and feel her heartbeat.

In regards to technological changes, what challenges are you facing as the head of a marketing service? I think I am very lucky, because the technology and the digital world in general have always been of great interest to me, but the processes in this field are so quick that time management is the main challenge, and to ensure that you catch up with novelties, at least related to your business, in my case, in tourism. What has changed in the field in the last 5 years, and what changes are expected? As I have already mentioned, the digital world develops at the speed of light, not only technologies, but also the consciousness of people in the last 5 years, the behavior of the user became digital, and soon there will probably not be web pages in the classic form, everything will become 100% mobile friendly, minimalistic, and user friendly.

What are you doing to help the organization keep up with new trends and use innovative approaches in the field of marketing? When you’re oriented toward development, technologies are arranged in a way that they find you, then it’s all up to you, whether you see and develop it or not.

What’s your organization’s business model regarding PR and marketing? Each visitor to out boutique-style “Hotel Museum’’ is an individual guest,and gives them their first impression of Georgian hospitality, and opens the door to the Orbeliani palace to feel the old. aristocratic spirit of Tbilisi in the 21st century. The most useful advice you’ve ever received in your life? Training, training and training. Think of a person who inspires you, professionally. Steve Jobs.

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Business News

Step Inn – Polish Investor to build Premium Class Hotel in Kazbegi

Georgia’s Responsible Business Awards Meliora - CSR Contest has started

Construction of Step Inn premium-class hotel in Kazbegi will be launched in several days and finished in October 2019.

Meliora will reveal and give an award to the Georgian companies, which manage to implement relevant and outstanding projects and initiatives in this field. The contest is arranged with the support of the project "Civil Society Development Initiative", European Union and Konrad Adenauer's fund.

Viticulture Research Institute will be restored in Kakheti in 2022

Itsik Moshe: Georgian Airline to open Representation in Israel

At the end of 2022 a multifunctional hotel complex will open in Telavi, Kakheti Region. Studia 9 company director Zurab Tsiklauri told the Commersant that the company has already obtained due construction license and the works will start in the near future. First Georgian Coffee Brand Meama to become Available on Georgian Market

One of the Georgian airlines will open its representation in Israel amid Russian flight ban, Itsik Moshe, president of Israel-Georgia Chamber of Business noted.

The first Georgian factory, which operates Georgian Coffee 'Meama' producing, will be available from October, 2019. It is also planned to prepare the brand for export.

Five Year Waste Management Plan of Tbilisi to be confirmed Tbilisi City Hall has confirmed the five-year waste management plan of Tbilisi, which is elaborated by Environmental Protection Service. Euronews to begin Broadcasting in Georgia

French Company Eiffage becomes Anaklia Seaport General Building Company Major French company Eiffage has become a general building company for Anaklia seaport. The general contractor will perform the first phase construction works jointly with partner companies, namely, Swiss ABB and Georgian CRP companies. Construction Works in Dighomi Chalebi to start in August Construction of the new municipal park in Dighomi Chalebi will start in August 2019 and last 2 years.

Euronews will begin broadcasting in Georgia. The Memorandum of Cooperation has already been signed between the international news channel and Silknet.

Tourism Afloat: Update after 2 Weeks of the Flight Ban Observing the data of the second week arrivals since Russia’s recent flight ban, dynamics remain broadly unchanged from a week before1: despite the drop of Russian tourists, total travelers growth remains positive at 2.1% YoY.

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Capital Market – Alternative of Commercial Banks

It is quite a difficult process to attract funds for the business sector development in Georgia. Bank loans remain the only instrument for business sector. Commercial banks issue loans with high interest rates, because there is no competition on the market. Companies have to accept any terms. As a result, the business sector cannot develop, and the domestic economy faces problems. Economic experts assure us that capital market development is the only solution. Attracting investments is an efficient path towards economic development, and investing in securities at a stock exchange is the most accepted and widespread form of attracting investments. All these aspects require capital market development.

Tbilisi State University professor Vakhtang Charaia noted that the Georgian Stock Exchange remains in a depressed situation, because it is managed by competitor commercial banks. The key problems come from the fact the securities market regulator is the National Bank of Georgia (NBG). The NBG is a trader in itself, and it participates in the securities market. At the same time, it acts as a regulator of the crediting institutions. As a result, we have a situation where the NBG only cares about the banking sector’s development and assistance, specialists noted. If the situation remains unchanged, the business sector will not be able to find alternative financial sources. Therefore, the business sector and the economy will not

develop, specialists assert. What is the solution? According to experts, securities market supervision should be separated from the NBG, and a separate structure should be formed, as in all leading economies. Moreover, commercial banks should be distanced from stock exchange co-ownership, experts noted. Capital market specialist Vakhtang Svanidze talks about the necessity of addressing gaps in the existing legislation. It is necessary for legislation to allow trade in securities only at a stock exchange, he said. Specialists explain that, in due time, the US Government added a special record in the legislation to help ensure that competitive, healthy and civilized relations between commercial banks and the capital market. According to US legislation, certain

limitations were imposed on commercial banks in relation to the capital market. The ratio of commercial banks in the securities market structure were not to exceed 50%. Similar records were adopted in Georgia, too, by the recommendation of American experts, but this restriction was abolished in 2008, and after this, commercial banks bought the entire infrastructure of a stock exchange. The Georgian Stock Exchange was established with the support of USAID and the Barents Group in 2000. In the same year, the government prepared a bill on Securities Market. There were 42 brokerage companies in 20042008, but their number halved after 2008 because of new regulations. By Zurab Khachapuridze

11 July 29, 2019 #293 Embassy United States of America Embassy 11 Balanchivadze St., Dighomi Dstr., Tbilisi Tel: 27-70-00, 53-23-34 E-mail:; United Kingdom of Great Britain and Northern Ireland Embassy 51 Krtsanisi Str., Tbilisi, Tel: 227-47-47 E-mail: Republic of France Embassy 49, Krtsanisi Str. Tbilisi, Tel: 272 14 90 E-mail: Web-site: 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: Republic of Estonia Embassy 4 Likhauri St., Tbilisi, Tel: 236-51-40 E-mail: Republic of Lithuania Embassy 25 Tengiz Abuladze St, Tbilisi Tel: 291-29-33 E-mail: Republic of Latvia Embassy 16 Akhmeta Str., Avlabari, 0144 Tbilisi. E-mail: Greece Republic Embassy 37. Tabidze St. Tbilisi Tel: 91 49 70, 91 49 71, 91 49 72 Czech RepublicEmbassy 37 Chavchavadze St. Tbilisi ;Tel: 29167-40/41/42 E-mail: Web-sait: 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: 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: 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: Ukraine Embassy 76-g Chavchavadze Ave., Tbilisi Tel: 231-11-61, 231-14-54 E-mail: 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 Consulate General in Batumi 9 Ninoshvili Street, Batumi Tel: 422 25 58 00 Republic of Azerbaijan Embassy Kipshidze II-bl . N1., Tbilisi Tel: 225-26-39, 225-35-26/27/28 E-mail: 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: Republic of Poland Embassy Oniashvili str. 24, Tbilisi Tel.: +995322 920398; Fax: +995322 920397 Web-site: Republic of Iraq Embassy Kobuleti str. 16, Tbilisi Tel: 291 35 96; 229 07 93 E-mail: 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: United Nations Office Address: 9 Eristavi St. Tbilisi Tel: 225-11-26/28, 225-11-29/31 Fax: 225-02-71/72 E-mail: Web-site: International Monetary Fund Office Address : 4 Freedom Sq., GMT Plaza, Tbilisi Tel: 292-04-32/33/34 E-mail: Web-site: Asian Development Bank Georgian Resident Mission Address: 1, G. Tabidze Street Freedom Square 0114 Tbilisi, Georgia Tel: +995 32 225 06 19 E-mail:; Web-site: World Bank Office Address : 5a Chavchavadze Av., lane-I, Tbilisi, Georgia ; Tel: 291-30-96, 291-2689/59 Web-site: 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: 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: 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: 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: Hotels in Georgia TBILISI MARRIOTT Tbilisi , 13 Rustaveli Ave. Tel: 77 92 00, COURTYARD MARRIOTT Tbilisi , 4 Freedom Sq. Tel: 77 91 00 RADISSON BLU HOTEL, TBILISI Rose Revolution Square 1 0108, Tbilisi Tel: +995 32 402200 RADISSON BLU HOTEL, BATUMI Ninoshvili Str. 1, 6000 Bat’umi, Georgia Tel: 8 422255555 SHERATON METECHI PALACE Tbilisi , 20 Telavi St. Tel: 77 20 20, HOLIDAY INN TBILISI Business hotel Addr: 1, 26 May Square Tel: +995 32 230 00 99 E-mail: Website: 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: Website: Restaurants CORNER HOUSE Tbilisi, I. Chavchavadze ave. 10, Tel: 0322 47 00 49; Email: RESTAURANT BARAKONI Restaurant with healthy food. Georgian-European Cuisine Agmashenebeli Alley 13th Phone: 555 77 33 77 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, 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 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

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