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Charter Flights between Republic of Korea and Georgia appointed

Tourists’ spending declines in Georgia Will Enforcement of Regulations will raise Tariffs on Taxi Services

Leavingstone brings Second Internet OSCAR from the USA

Irina Kvakhadze to head BDO Data Analytics Department

May 20, 2019 - www.cbw.ge


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Charter Flights between Republic of Korea and Georgia appointed The Civil Aviation Agency of the Ministry of Economy and Sustainable Development of Georgia satisfied the request of the Korean Air Company on the implementation of charter air traffic between South Korea and Georgia.

Ryanair might start Flights to Tbilisi and Kutaisi in the Nearest Future Giorgi Chogovadze, Director General of "Georgian Airports Association", said that the agreement with low-cost airline "Ryanair" will be signed in the near future.

We plan to introduce Anti-Dumping Law to ensure Just Regulations PM: Our goal is to increase Payroll of teachers to 1500-1800 GEL a Month "It is a great tragedy for me that average payroll of teachers is even below an average statistical salary in the country and it is absolutely unacceptable" stated Mamuka Bakhtadze, Prime Minister of Georgia when responding questions of journalists on the remuneration of teachers during his visit in Kazakhstan.

Today, on May 14, Ministry of Economy Natia Turnava visited major metallurgical enterprises in Rustavi – Rustavi Steel and Geostyle.

Georgia will receive about USD 40 million from IMF Georgia will receive about USD 40 million from the International Monetary Fund, – said Mercedes Vera-Martin, the head of the mission of International Monetary Fund (IMF).

How to hasten Economic Growth in Georgia – Recipe by IMF President President of the International Monetary Fund (IMF) has answered questions about Georgia’s economic growth. Reporter of BM.Ge, attending the economic forum in Kazakhstan, asked the respondent about the steps that Georgia should take to boost economic growth.

Education Minister presented the project "Art School" at the National Museum

Geostat sets New Subsistence Minimum - 164 GEL

Tbilisi City Hall to buy 40 Subway Cars for 3 Years

Subsistence Minimum for an average employable man has increased to 185 GEL in April 2019. According to the National Statistics Office of Georgia (Geostat), the same indicator amounted to 181,2 GEL in March.

Improvement of Subway infrastructure is one of the priorities of the municipal government, as more than 100 million GEL was spent on this direction only in 2018-2019.

US to fund Poti Terminal Construction by 50 million USD The US Government plans to fund Poti Terminal construction works. OPIC will allocate 50 million USD for constructing deep-water seaport of Pace Terminal.

Mikheil Batiashvili, Minister of Education, Science, Culture and Sport of Georgia presented the project "Art School" at the National Museum.

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: caucasianbusiness@gmail.com 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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Tourists’ spending Declines in Georgia Tourists spend twice as much in Armenia and 4 times more in Azerbaijan A total of 647,770 international visitors arrived in Georgia in April 2019. Year on year growth was at 4.6%. This information was released by the National Tourism Administration, based on the data of the Interior Ministry. The reporting period recorded 348,519 touristic visits, up 14,018 visits compared to April 2018. Year on year growth made up 4.2%. As for the January-April numbers, international visitors carried out t 1,617,548 visits to Georgia, up 35,166 visits year on year (+2.2%). The number of visits by tourists in January-April 2019 was at 882,130, up 42,590 visits compared to January-April 2018 (+5.1%). According to the National Tourism Administration, positive tendencies are noted in EU countries, including international visits from Austria, (+50.8%), Italy (+45.6%), Spain (+43.8%), France (+43.7%), Germany (+43.5%), the Czech Republic (+38.2%) and so on. It is noteworthy that the ratio of neighboring countries in the number of visits to Georgia has been declining over the past few years. On the contrary, the quantity of visits grows from countries further abroad, and this means that Georgia’s attractiveness as a tourism destination is increasing. The ratio of visits from Azerbaijan, Turkey, Iran, Russia and Armenia in January-April 2018 constitutes 66% of all visits. This figure declined by 2.17% during January-

April 2019, and made up 62.87%. As for income, according to preliminary report, in JanuaryApril 2019, incomes from international visits to Georgia made up 856 million USD (+8.4%), up 6 million USD year on year. According to the April 2019 indicators, incomes from international visits to Georgia constituted 277 million USD (+16,1%), up 38 million USD year on year. Over the past few years, the inflow of tourists and international visitors has been growing, but the average amount that one tourist spends in Georgia is very low. The figure has even declined year on year. For example, according to Geostat, the National Statistics Service of Georgia, in the first quarter of 2019, the average expenses made by a tourist has declined by 16.1% year on year. and amounted to 889.7 GEL. In 2012-2017 the inflow of tourists to Georgia doubled, and the amount spent by a tourist rose to 364.2 USD, from 318.6 USD. Based on this indicator, Georgia ranks behind most economies, where a tourist spends 500-800 USD on average. According to the 2016 indicators of the World Bank, the average amount that a tourist spends in various countries of the world is as follows: Hungary – 1400 USD; Azerbaijan – 1400 USD; Turkey – 900 USD; Cyprus – 900 USD; Armenia – 750 USD; Czech Republic – 750 USD; Latvia – 700 USD; Poland – 650 USD; Greece – 600 USD; Georgia’s revenues from tourism

sector is low compared to other countries, but Georgia’s revenues from the tourism sector holds the same ratio to GDP as other countries, and accounts for 7.6% in 2018. For example, in Montenegro this indicator exceeds 21%, Croatia – 19%. Georgia’s revenues from the tourism sector constitutes 8% of GDP, like Greece. These growing trends in the tourism sector are confirmed by the interest that various airlines show towards our country. According to the latest reports, the Arab airline Fly Emirates is interested in the Georgian market. The lowcost airline Ryanair also plans to launch operations in Georgia. According to the Association of Airlines of Georgia, eleven airlines entered Georgia over the past year, including the Ukrainian airline SkyUp, the Romanian airline Tarom, the Saudi airline Lynas, Jazzera Airways, Salam air, Air France, Air Malta, Air Korea, Ellinair, Uzbekistan Airways, and Red Wings. According to the January-April report, passenger turnover at Georgian airports rose by 20%. As a result, Georgian airports have served 1,450,847 passengers in the reporting period, up 20% year on year. Growth in passenger turnover was recorded at all international airports. As a result, in JanuaryApril, passenger turnover rose by 16% year on year.

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Will Enforcement of Regulations will raise Tariffs on Taxi Services Taxi drivers are obliged to drive taxis painted white color starting on October 1, 2019. At the same time, taxi drivers will be differentiated into two categories – A and B - categories starting July 1, 2019. A-category licenses will be issued to drivers for whom a taxi is the main source of income. Thus, taxi drivers wishing to cooperate with taxi companies and, on the other hand, to work on an individual basis, will have to buy white vehicles or paint their vehicles in white. As to B-category licenses, these taxi drivers will be able to work only on call, and they will be allowed to drive vehicles in any color. Taxi drivers wishing to get municipal vouchers for painting vehicles white will be obliged to place AD banners of their company for 2 years. The Caucasus Business Week (CBW) has inquired as to what Tbilisi City Hall regulations will change, and what the market players think about these regulations. Owners of private taxis say that these regulations will make 80%90% of taxi drivers unemployed. They assert that the 700-GEL voucher does not suffice, and price in service in Tbilisi ranges from 1200 to 1500 GEL.Taxi companies explain that huge changes will take place in the market starting October 2019.

Nika Khoperia, founder of the 200-200 tax company, explains that the coming regulations will make taxis on the market deficient, and service tariffs will rise. The amount of the voucher is not sufficient, and there are several other undesirable factors that mean that taxi drivers will not paint their vehicles white. “Not everybody will paint it white and fix AD banners, because there are people who work for other companies, and taxi driving is their side job. There are people who use no application, nothing. Some of them avoid openly working as taxi drivers. Will this category change the color of their vehicles and fix AD banners?” – Khoperia asked. These regulations will leave tax companies without taxi drivers on calls, he said. “In my company, the majority of taxi drivers with whom we have signed contracts, and object to changing vehicle color. Everybody has specific reasons. Starting in October, the number will decline more. As a result, based on the principle of supply and demand, the tariffs will rise dramatically”, Topuria noted.

Meriko Koberidze, 26, decided to become a taxi driver in February 2019. Koberidze told Commersant that she owns a white vehicle, and this regulation will not apply to her. Despite this, Meriko Koberidze appraised the municipal initiative and declared that this may be a deliberate decision to take control of all vehicles by making them cooperate with the corresponding companies. “Under the regulations, if a taxi driver works with a phone or an application, they are allowed to drive a vehicle in any color. The driver is only banned from fixing a taxi symbol on their car and stopping their vehicle in the street from picking up a client. I think this is mechanism to take control of taxis. Will white taxis beautify Tbilisi when there are a lot of ugly things?” Koberidze asked. Changing the color creates another problem. Changing the manufacturing color lowers the market value of a vehicle, she said. Service tariffs will be corrected, as confirmed by Tbilisi Mayor Kakha Kaladze, she noted.


“He has openly said that taxi service tariffs will rise. I believe taxi tariffs may rise only after bringing order to the municipal transport system. The price correction is inadmissible in the current situation”, Koberidze noted. Starting March 1, 2019, a total of 382 vouchers have been issued to tax license owners, LLC Alma director Giorgi Trapaidze told InterPressNews. This company has won a tender to provide services. At this stage, only 78 taxi drivers have painted their vehicles in white, Trapaidze said. As for forecasts as to whether taxi drivers will paint their vehicles white in time, the Alma director noted that if drivers apply in time, all vehicles will be painted. There are 29,5050 licensed taxis in Tbilisi. As reported, on February 12, Tbilisi Mayor Kakha Kaladze noted that it is necessary to set regulations for taxis. Taxi drivers who do not register will be fined.

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Military Expenses and Economy – The Militarization Effect on Georgia and the World

What is the effect of military expenses on an economy? These is no clearly determined answer to this question. However, economic experts have submitted several examples to illustrate that military expenses have a direct effect on economic development. Some specialists asserts that in the 1930s, growing military expenses saved the US economy from the Great Depression. Almost the same could be said about Nazi Germany. Specialists assert that rapidly growing military expenses and the military industrial complex became a key locomotive of the contemporary German economy. To a certain extent, economic achievements made by US President Donald Trump are related to growing military expenses. An economic analysts of the Wall Street Journal assures the reader that increased military expenses made a contribution to the 2.9% upturn in the US economy in 2017. An analysis by the US Department of Trade reveals that the effect from military expenses in economic growth exceeded 0.31%. New workplaces, the development of infrastructure and modern technologies – according to specialists, all these factors have direct relations with military expenses. However, a certain balance is required, as well as a proper distribution of financial resources. Otherwise, the Soviet Union’s experience will be repeated. The very arms race and hiking of military expenses contributed to the economic collapse in Soviet Union, the specialists assert. According to indicators given by the Stockholm International Peace Research Institute (SIPRI), 2018 military expenses exceeded 1.822 trillion USD, and constituted 2.1% of global GDP. The last reports by SIPRI indicate that in 2018, major military industrial concerns earned 398 billion USD. Forty-two companies of 100 major arms manufacturers are American. In total, American companies sold arms worth 226 billion USD, including Lockheed Martin, which ranks first with 44.9 billion USD. Russian companies have earned comparatively less money, but the figures are impressive regardless. Ten major arms manufacturers in Russia sold products worth 37.7 billion USD in 2018.

The US remains the greatest arms exporter, a with 36% share. Russia ranks second, with 21% of the export market. As compared to 2017, in 2018, Russia’s access to the market declined by about 6%. France ranks third, with a 6.8% ratio in the SIPRI rating. In 2018, Saudi Arabia emerged as a major arms importer. Over the past 5 years, this country has increased arms procurement by 192%. Saudi Arabia buys 68% of new arms from the USA. Major arms importers are India (9.5%), Egypt (5.1%), Australia (4.6%), and Algeria (4.4%). In 2019, the USA increased its defense expenditure to 716 billion USD. China ranks second, with 230 billion USD. Russia has cut defense expenditures to 46 billion USD, from 61 billion USD, as a result of economic sanctions. Specialists assert that the Russian economy cannot withstand a higher level of militarization. According to the 2019 indicators, Russia’s military expenses constitute 17% in the total budget, and 2.9% of GDP. In 2018, the figures were 19.3% and 3.4% respectively. It is interesting that Armenia is recorded among the top 10 most militarized countries. According to the SIPRI report, in 2018, Armenia’s defense expenditures made up 4.8% in GDP. Azerbaijan increased defense expenditures by 4.6%, to 2 billion USD, but this figure is only 3.95% of GDP. As for Georgia, Georgia’s defense budget is only 870 million GEL, 2% of GDP. As for Georgia’s military industrial complex, it is being developed anew. Delta, the state-owned military-research center, works as an economic locomotive. On February 1721, the IDEX-19, the 14th exhibition of military equipment and armaments, was held in Abu Dhabi. Potential clients were able to see and appraise various military equipment manufactured by DELTA. At this stage, no major contracts are coming, but the country hopes the day will come when Georgia will be enlisted among the ranks of arms exporters. By Zurab Khachapuridze

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Car and Automotive spare Parts Distribution and Maintenance According to National Statistics Office of Georgia, the total number of registered cars in the country is more than 1.3 million which is 30% more than in Armenia and 9% more than in Azerbaijan. This means, that there is one car registered on every third person. In addition, there is a stable 8% growth in car import every year. According to a research done by Tegeta Motors in 2018, 82% of the car park consists of light weight vehicles and the rest is other heavy or light transport. 91% of the whole car park is more than 10 years old and only 1.3% is 3 years old or younger. The total value of imported light weight cars in 2018 equaled to USD 598 million (6.6% of the total import). The amount of exported cars

amounted to USD 408.9 million (12.2% of the total export). 54,502 vehicles were exported in 2018 mainly to Armenia and Azerbaijan, growing export by 85.7%. The charts below is showing main export and import of car and automotive spare parts in the country in 2018: As automotive products are one of the top products in terms of import in Georgia, government is actively involved by regulating local market and bringing new regulations for the country to get close to EU standards. Mandatory Vehicle Inspection – A mandatory vehicle inspection started with heavy trucks, buses, minibuses and all lightweight cars with engine power 2.5 or higher in 2018. Since January 2019, all vehicles are obliged to undergo the inspection, otherwise owners will face fines. The inspection procedure is done in special facilities and can be done annually or once in several years depending on car age. Cars are checked completely to be sure they are safe and the emission is within international norms. Customs Clearance Fee – As within past 3 years the amount of imported light weight, right hand drive and old cars was dramatically increased, the government increased customs clearance fee to regulate the process. Now the fee is in correlation with car age and is too high for RHD cars, when in parallel, tax is reduced by 40% for hybrid cars and there is no tax for electric ones. Municipal Transport Modification – Government permanently collaborates with international suppliers and renovates municipal transport in the capital. Now they

are in partnership with MAN factory to replace old municipal buses with new ones. Also, a French company systra is preparing a new city plan, which will solve the problem of traffic jams and crowded streets in the capital. Mandatory Insurance – From the beginning of July 2019, the insurance will become mandatory for all kinds of vehicles in Georgia. This compulsory insurance for a third party will cost around GEL 100250 (Approximately EUR 35-85) annually, depending on a vehicle type and will insure the affected party during the accident. There are more than 30 official car dealer

centers in Georgia, such as Mercedes-Benz, BMW, Toyota, Nissan, Skoda, Peugeot, Renault, Volkswagen, etc. There are new players on the local market like Lexus and Bentley too. Although the purchasing ability of the majority of the population is not enough for new cars sold in official centers, these dealers are still very popular. Toyota Center Tbilisi – is the official representative of Toyota brand in Caucasus region existing on the market for more than 10 years. Company also owns the biggest auto service center in Georgia and is providing all kinds of service to clients. Toyota Land Cruiser Prado is one of the best selling cars among official dealers now in the country. GT Group – exists on the market for more than 10 years. GT Motors, one of the main companies of GT Group holding is the official representative of brands like Ford, Land Rover, Jaguar and Suzuki in Georgia. They own their service center providing all kinds of service for their clients. Company has business in Turkmenistan and Armenia too and since 2015 they are the importers and distributors of tractors, heavy trucks and other special machinery. Iberia Business Group – was established in 1999 and is the official representative of car brands like Skoda, Volkswagen, Audi, Mitsubishi Motors, Seat, Kia Motors and Renault. The holding also owns ITA – spare parts and auto service center. The company is also in partnership with Mobil, Bosch, Continental, Pirelli, etc. Online portals are very popular in Georgia for local citizens to find a used car to buy. The advertisement on one of these web portals now is the best and the easiest way to

sell a car. Usually these advertisements are published by regular people or pawnbrokers. My.ge – is the biggest e-commerce company in the country owning 7 different online portals for different sectors. Myauto.ge is the most famous portal now to buy and sell cars, motorcycles, heavy machinery, etc. Auto.ge – is one of the online portals to buy and sell different kinds of vehicles starting from motorcycles to heavy weight machinery. Web portal also sells spare parts and clients can find contacts for auto service centers too. AUTOPAPA – this Rustavi car market is located on the main road of Tbilisi – The Red Bridge, which connects Georgia with the republics of Armenia and Azerbaijan. This is the biggest auto market in the Caucasus with total area of 225,000 square meters. Company also has its own online portal. There is a service agency of the Ministry of Internal Affairs of Georgia directly on the territory of the market too, to provide customers with all

necessary documents for import, export or re-export of the vehicles, state registration, etc. Caucasus Auto Import – a member of Caucasus Business Group, offers car import services to the clients from US, Japan and European countries to its clients. Additional services include co-financing, purchase and delivery to Georgia. They have their own auto service center offering clients all kinds of automotive service. Spare parts market is mainly devided between official dealers, car service centers and second hand market in the country. Amboli - was founded in 2003 as car headlights, aluminum wheels and accessories importer company. At present, the Company is engaged in import and wholesale and retail realization of a wide range of car parts and accessories through the network if its stores. They are the official representatives of the brands like Osram, toyo, etc. Eliava Spare Parts Market – is a market providing new and used car spare parts for the clients. Markets of the same type exist in 2-3 other

districts of the capital (Gldani, Isani, Samgori) too. Additionally, the market provides autoservice centers and car paint services. Autobani – is one of spare parts distributors existing on Georgian market since 1995. They are in partnership with around 70 international brands and distribute more than 18,000 different kinds of spare parts. Company offers vehicle repair services too. Tegeta Motors – one of the biggest holdings in Georgian automotive sector. Company has 22 branches in Georgia and 1 branch in Azerbaijan, also owning the biggest service center in Tbilisi. They are the distributors of car spare parts for their clients and are official representatives of Bridgestone, Michelin, Shell, Mobil1, etc. Wissol Auto Express – is a member of Georgia's biggest business group Wissol. Main field is the development of car service centers throughout Georgia. Company exists on the market since 2011 and is represented by 23 service centers. They are the official representatives of Total Lubricants and Vianor in the country. Oto Motors – was founded in 2009 and is car spare parts distributor and automotive service provider company. They provide all kinds of repair services for their clients and are representing more than 100 international brands in the country. As vehicle inspection has become mandatory in the country, there is a high demand for high quality fuel to reduce emission of the vehicle. Therefore, there is an opportunity for diesel and petrol additive producer companies to distribute their products in Georgia. The import of electric cars increase every year in the country but there is no service center specialized on electric cars. The maintenance of electric cars is completely different from the regular engine one, that’s why there is an opportunity for interesting companies to enter in this niche. Due to high demand for electric cars, there is a demand for electric charging stations in the country. This niche is not competitive yet as there is only one local company installing stations all over the country (mainly in the capital). There is no specialized center for car restyling in the country. Several local service centers try to offer similar services but there is an opportunity for professional international brands. By Giga Goliadze

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Irakli Nizharadze: "Only a Drastically Innovative Advertising Campaigns will succeed in the Future’’ Interview with Head of Marketing at the Development Company "Orion Group", Irakli Nizharadze. Tell us about how you got into the field of marketing, and what factors played an important role in choosing this profession?

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

At the age of 17, I was a freshman at the Faculty of Social and Economic Geography at the Tbilisi State University, when I started my first job as an advertising agent. During the 2000’s, marketing was a new challenge in Georgia, which made it especially interesting to study and work in the field. Back then, there was an MA program at the Caucasus Business School in the field of marketing, and now I have been in the field for 22 years already. Mostly in the field of development.

I will repeat: creativity is one of the most important features of a marketing manager, as well as other field professionals. Also, the correct assessment of reality, and a lot of communication! Experienced Marketer = Reliable, Recognized and Successful Company.

In regards to technological changes, what challenges do you face as the head of a marketing service? Creativity and New Technologies is the definition of successful marketing. Accordingly, technological innovations and their proper implementation provide healthy competition in the field, which is a key challenge in the life of a professional. What has changed in the field in the last 5 years, and what changes are expected? The main change is digital marketing (social network, applications), which is the leader among all channels of communication. Under this intense competition, in the future, advertising campaigns will not succeed if they aren’t innovative. However, innovation does not always involve complex technological techniques with a big budget. A novel and creative vision is more important, as well as immediacy and finding a proximity to customer needs.

The "Orion Group" is a relatively new development company, and our marketing activity is based on the overall loyalty and sustainability of the user, which are composed of high tech materials and quality service. Our new housing project "Orion Landmark" is being developed accordingly. One word that describes your job. To be attracred.

How do you help organizations catch up with new trends and innovations in the field of marketing?

The most useful advice you’ve ever received in life?

My task as an active marketer is to find a constant proximity to new trends in the field.

Think of a person who inspires you professionally.

What’s your organisation’s business model, in terms of marketing?

Everything has its price!

Steve Jobs.

9 May 20, 2019 #283

Business News

Leavingstone brings Second Internet OSCAR from the USA

national Book Festival, which will be held from May 30 to June 1.

The work by Leavingstone has obtained The Webby Awards,the highest award of the Internet in the category of SCRIPT.

Irina Kvakhadze to head BDO Data Analytics Department BDO has appointed Irina Kvakhadze as a director of Data Analytics department. This direction is a part of business consulting services and it will essentially promote development of new and innovative services.

Georgian Students develop Social Network without Function of Subscription and Making Friend

PSP Group confirms negotiations regarding purchasing of GEO Hospitals

All over the world various social networks follow the same logics – a lot of subscribers signify that the desirable information will be delivered to a wide audience. Consequently, users without efficient communication skills in the internet lose similar opportunities.

PSP Group intends to purchase network of GEO Hospital clinics. This information was confirmed by PSP Group today.

Georgian Wine Companies participating at VinExpo Bordeaux With the support of the National Wine Agency, Georgian wines are participating in the international wine fair VinExpo Bordeaux -2019.

Georgian Appication SiApp earn Money when walking Georgian marketers decided to give people to earn money only by walking. This is a motivation for the user to have healthier lifestyle.

Glasgow refueling Station at Gombori – SOCAR continues Creative Campaign SOCAR company continues creative campaign in relation to the 2020 European Championship in Football. Namely, the company has launched a new rebranded fueling station on Gombori Pass, Kakheti Region. 60 Watt Design: Creative Installations by Georgian Designer 60 Watt Design is a 2-year-old label by Georgian artist and light designer Giorgi Maghradze.

Distinguished Austrian Writer Robert Menasse to visit Georgia Distinguished Austrian writer and essayist Robert Menasse will visit Georgia as part of Tbilisi Inter-

Galt&Taggart: We expect Tourism Sector to bring 3.6 billion USD in 2019 We expect the tourism sector to bring about 3.6 billion USD incomes in 2019, up 10%-12% year on year, Eva Bochorishvili, head of the research department of Galt&Taggart noted.

World News 10 May 20, 2019 #283

FIS integrates into Visa B2B Connect Platform Visa Inc. (NYSE: V) and FIS are joining forces to enable FIS’ commercial financial institution clients to quickly and securely access the Visa B2B Connect platform globally*.

Ingrida Simonyte and Gitanas Nauseda will gead to a Second Round of Lithuania’s Presidential Election In the first round of the presidential elections of Lietuva (Lithuania), the country’s former Minister of Finance, Ingrida Simonyte, received the largest number of votes.

Estonia toughens its Cryptocurrency Regulations The Estonian government has approved a bill to toughen regulations which cover the activity of virtual currencies. “We have learned our lesson from the banking sector the hard way, and we must now deal with new international risks, and cryptocurrencies are amongst the most urgent of these,” said Estonia’s minister of finance, Martin Helme.

US terminates Turkey's Preferential Trade Agreement The United States terminated Turkey's preferential trade treatment under a program that allowed some exports to enter the country duty free, but it has halved its tariffs on imports of Turkish steel to 25%.

Infrastructure for Blockchain Technology to appear in Azerbaijan by 2020

Ukraine to impose New Rconomic Sanctions against Russia

The infrastructure is planned to be created in Azerbaijan by 2020 for the implementation of blockchain technology, Chief Administrator of the IT department of the Central Bank of Azerbaijan (CBA) Farid Osmanov said.

Ukraine’s prime minister Volodymyr Groysman has announced that the country’s government will impose bans and special duties on certain goods produced by Russian companies.

German Schneider Group interested in expanding Activities in Armenia The German Schneider Group is interested in expanding its activities in Armenia, the founder of the company Ulf Schneider said at a meeting with Armenian President Armen Sarkissian in Nur-Sultan, Kazakhstan.

Sev.en Energy buys Two Czech Power Plants in 280 million-euro Deal

Amazon invests in Food Courier Service Deliveroo

Sev.en Energy has bought two Czech coalfired power plants, Kladno and Zlín, from Swiss electricity producer Alpiq for 280 million euros.

Amazon is investing millions in Deliveroo in a boost to the UK food delivery service as it takes on rivals such as Uber Eats and Just Eat in a competitive market.

11 May 20, 2019 #283 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: 29167-40/41/42 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 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, 291-2689/59 Web-site: www.worldbank.org.ge Regional Office of European Bank for Reconstruction and Development Address: 6 Marjanishvili St. Tbilisi Tel: 244 74 00, 292 05 13, 292 05 14 Web-site: www.ebrd.com Representation of the Council of Europe in Georgia Address : 26 Br. Kakabadze, Tbilisi Tel: 995 32 291 38 70/71/72/73 Fax: 995 32 291 38 74 Web-site: www.coe.ge Embassy of the Slovak Republic Address: Chancery: 85 Irakli Abashidze St. Tbilisi, 0162 Georgia Consular Office: 38 Nino Chkheidze St. Tbilisi, 0102 Georgia Phone: 2 222 4437, 2 296 1913 e-mail: emb.tbilisi@mzv.sk European Investment Bank Regional Representation for the South Caucasus Address: 1,G.Tabidze Street, Freedom Square

Phone: +995 322 006284 Embassy of The Republic of Korea 12, Titsian Tabidze Str. Tbilisi 0179, Geogia Tel: (995 32) 297 03 18; 297 03 20; Fax: (995 32) 242 74 40; Email: georgia@mofa.go.kr Hotels in Georgia TBILISI MARRIOTT Tbilisi , 13 Rustaveli Ave. Tel: 77 92 00, www.marriott.com COURTYARD MARRIOTT Tbilisi , 4 Freedom Sq. Tel: 77 91 00 www.marriott.com RADISSON BLU HOTEL, TBILISI Rose Revolution Square 1 0108, Tbilisi Tel: +995 32 402200 radissonblu.com/hotel-tbilisi RADISSON BLU HOTEL, BATUMI Ninoshvili Str. 1, 6000 Bat’umi, Georgia Tel: 8 422255555 http://radissonblu.com/hotel-batumi SHERATON METECHI PALACE Tbilisi , 20 Telavi St. Tel: 77 20 20, www.starwoodhotels.com HOLIDAY INN TBILISI Business hotel Addr: 1, 26 May Square Tel: +995 32 230 00 99 E-mail: info@hi-tbilisi.com Website: http://www.hi-tbilisi.com RIVER SIDE HOTEL With incredible service and views Addr: Mari Brosse street turn, Old Tbilisi. Tel: +995 32 2242244; +995 32 2242288 Fax: +995 32 2 242277 Email: info@riverside.ge Website: www.riverside.ge Restaurants CORNER HOUSE Tbilisi, I. Chavchavadze ave. 10, Tel: 0322 47 00 49; Email: contact@cornerhouse.ge RESTAURANT BARAKONI Restaurant with healthy food. Georgian-European Cuisine Agmashenebeli Alley 13th Phone: 555 77 33 77 www.barakoni.com CHARDIN 12 Tbilisi , 12 Chardin St. , Tel: 92 32 38 CAFE 78 Best of the East and the West Lado Asatiani 33, SOLOLAKI 032 2305785; 574736290 BREAD HOUSE Tbilisi , 7 Gorgasali St. , Tel: 30 30 30 BUFETTI - ITALIAN RESTAURANT Tbilisi , 31 I. Abashidze St. , Tel: 22 49 61 DZVELI SAKHLI Tbilisi , 3 Right embankment , Tel: 92 34 97, 36 53 65, Fax: 98 27 81 IN THE SHADOW OF METEKHI Tbilisi , 29a Tsamebuli Ave. , Tel: 77 93 83, Fax: 77 93 83 SAKURA - JAPANESE RESTAURANT Tbilisi , 29 I. Abashidze St. , Tel: 29 31 08, Fax: 29 31 08 SIANGAN - CHINESE RESTAURANT Tbilisi , 41 Peking St , Tel: 37 96 88 VERA STEAK HOUSE Tbilisi , 37a Kostava St , Tel: 98 37 67 BELLE DE JOUR 29 I. Abashidze str, Tbilisi; Tel: (+995 32) 230 30 30 VONG 31 I. Abashidze str, Tbilisi

Tel: (+995 32) 230 30 30 BRASSERIE L’EXPRESS 14 Chardin str, Tbilisi Tel: (+995 32) 230 30 30 TWO SIDE PARTY CLUB 7 Bambis Rigi, Tbilisi Tel: (+995 32) 230 30 30 Cinemas AKHMETELI Tbilisi. “Akhmeteli” Subway Station Tel: 58 66 69 AMIRANI Tbilisi. 36 Kostava St. Tel: 99 99 55, RUSTAVELI Tbilisi. 5 Rustaveli Ave. Tel: 92 03 57, 92 02 85, SAKARTVELO Tbilisi. 2/9 Guramishvili Ave. Tel: 8 322308080, 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

12 May 20, 2019 #283

Profile for Caucasian Business Week

Caucasus Business Week #283  

1. #Georgia will receive about USD 40 million from #IMF 2. #Geostat sets New Subsistence #Minimum - 164 GEL 3. #Tourists’ spending Declines...

Caucasus Business Week #283  

1. #Georgia will receive about USD 40 million from #IMF 2. #Geostat sets New Subsistence #Minimum - 164 GEL 3. #Tourists’ spending Declines...