AFTER EU VISA LIBERALIZATION: TBILISI’S EVOLVING RETAIL FAKE NEWS IN GEORGIA GEORGIA’S NEXT STEPS MARKET

Investor.A Magazine Of The American Chamber Of Commerce In Georgia geISSUE 57 JUNE-JULY 2017

Developing a New Tourism Hub

JUNE-JULY/2017 ‡ Investor.ge | 3 Investor.ge CONTENT 6 Investment News Investor.ge provides a brief update on investments and changes in government policy that could impact the business environment. The information in this issue was taken from agenda.ge, a government-supported website, and other sources.

7 After EU Visa Liberalization: Georgia’s Next Steps

8 U.S. Bans Aid to Countries Recognizing Georgia’s Separatists

12 Georgia: An “Island” of Democracy and Economic Liberty in the Caucasus

6 14 Can Emigration Boost Development? Recent empirical findings in Georgia

15 Georgia Seeks a New Generation of Scientists The Georgian government is eager to reboot the country’s scientific community, which suffered from brain drain and a lack of funding in the years following the collapse of the Soviet Union. With an eye on the new generation, the government and its Western partners are investing in education and innovative programs to attract young people and bolster the popularity of science- related professions.

18 The Avant-Garde of Technology and Art: Georgians Redefine Digital Marketing 25 A few months ago, a Dutch tourist traveling to Georgia was treated to an incredible surprise: he was Georgia’s sixth-millionth tourist and got VIP treatment, which included a dinner with Prime Minister Giorgi Kvirikashvili. The viral video of the sixth-million tourist campaign, created by a Georgian marketing company, was yet another sign of the creative boom in Georgia’s digital marketing industry.

22 From Open Markets to Online Bazaars: Tbilisi’s Evolving Retail Market

25 Kutaisi: Building a New Future for Georgia’s 34 Second City 30 Fake News in Georgia: The Government’s Plan to Tackle Russian Soft Power

32 Finding a Niche Among the Khachapuri: The Success of Foreign Fast Food in Georgia

34 Georgian Ballet – Yesterday and Today

38 NEWS ...... 38

4 | Investor.ge ‡ JUNE-JULY/2017                 

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JUNE-JULY/2017JUNE-JULY/2017 ‡ Investor.geInvestor.ge | 5 CHINA, GEORGIA SIGN FREE EXTERNAL TRADE UP 17 PERCENT INVESTMENT TRADE DEAL Georgia’s external trade was up 17 Tbilisi and Beijing signed a free trade SHUFHQWIRUWKH¿UVWIRXUPRQWKVRIWKH deal on May 13, paving the way for Geor- year, agenda.ge reported on May 13. NEWS gian products—including wine, mineral Exports increased by 30 percent to water and agricultural products—to enter $788 million, and imports also increased INVESTOR.GE the 1.4 billion-consumer market with 13 percent to $2.3 billion, according to PROVIDES A zero tariffs, agenda.ge reported. RI¿FLDOVWDWLVWLFV0LQLVWHURIWKH(FRQR- BRIEF UPDATE The deal took just seven months to my and Sustainable Development Giorgi complete. Gakharia told journalists the increase in ON INVESTMENTS Currently, Georgia has free trade exports has helped drive the country’s AND CHANGES deals with Turkey; the European Union economic growth. IN GOVERNMENT (EU); European Free Trade Association “In terms of economy, it means that POLICY THAT COULD (EFTA) countries—Switzerland, Nor- the situation on the markets of our main way, Iceland and Liechtenstein; and trade partners is getting stable. Demand IMPACT THE BUSINESS the countries of the Commonwealth of has increased and our producers are able ENVIRONMENT. THE Independent States (CIS)—Armenia, to sell more. The more they sell, the more INFORMATION IN THIS Azerbaijan, Kazakhstan, Kyrgyzstan, jobs they create, and consequently, the Moldova, Turkmenistan, Tajikistan and more jobs are created, the more people ISSUE WAS TAKEN Uzbekistan. are employed. We all understand that FROM AGENDA.GE, Finance Minister Dimitry Kum- 5.3 percent growth is not enough for A GOVERNMENT- sishvili met with Chinese Vice Premier our country. That is why we are follow- SUPPORTED WEBSITE, Wang Yang in the city of Hefei in China, ing a four-point plan that aims to make agenda.ge reported on 18 May. economic growth more rapid and impres- AND OTHER “We asked the Chinese side to launch sive,” Gakharia said. SOURCES. a new project under the One Belt – One Real GDP growth in March was 5.3 Road initiative to support Chinese pri- percent, compared to the same period vate companies that will be represented of the previous year, according to pre- in Georgia,” Kumsishvili said. OLPLQDU\GDWDIURP*HR6WDWWKHRI¿FLDO statistics body. NEW FRENCH-ITALIAN- GEORGIAN FILM CO- MORE FLIGHTS TO AND FROM PRODUCTION ANNOUNCED GEORGIA A Georgian film production com- Several international airlines are pany, Magenta Films, is set to shoot a LQFUHDVLQJÀLJKWVWR7ELOLVLDJHQGDJH prison-rugby drama as a co-production reported. with France and Italy within the state Greek airline company Aegean Air- program “Film in Georgia,” the agenda. OLQHVDQQRXQFHGLWZLOORIIHUGLUHFWÀLJKWV ge website reported. between Heraklion and Tbilisi once a The film, “Negative Numbers,” week from June 14 to September 13. was written by Georgian screenwriter Another Greek airline, Ellinair, will carry Uta Beria. It is based on the true story RXWZHHNO\7ELOLVL+HUDNOLRQÀLJKWVIURP of “two ex-professional rugby players June 15 to September 14. who helped juvenile offenders recover Iranian airline Zagros Airlines an- by bringing rugby into their life under nounced it would start direct flights detention,” the report said. between Tbilisi and Tehran in May.

6 | Investor.ge ‡ JUNE-JULY/2017 he freedom to travel to and country needs to “continue implementing After EU Visa throughout the Schengen area reforms to become a full member of the Twithout a visa has been lauded European family.” Liberalization: as a milestone in Georgia’s relations Foreign Minister Mikheil Janelidze with the EU. also pledged that Georgia will take “all %XW*HRUJLDQRI¿FLDOVKDYHPDGHLW steps” to move closer to Europe. Georgia’s Next clear this is just one step toward their ³*HRUJLDKDVDFOHDUO\¿[HGLQWHU- XOWLPDWHJRDOWREHFRPHDIXOOÀHGJHG est—to have more political integration Steps member of the Union. with the EU, and we will take all steps Prime Minister Giorgi Kvirikashvili within the framework of all formats,” has repeatedly spoken about Georgia’s Foreign Minister Mikheil Janelidze GEORGIA’S VISA-FREE REGIME future in the EU. was shown saying on Rustavi-2 TV on WITH THE EU WENT INTO EFFECT IN MARCH 28. EVEN In comments at the European Parlia- April 13. AS THE COUNTRY CELEBRATES ment when the visa-liberalization legisla- But some political scientists and THIS MILESTONE, GEORGIAN tion was signed, Kvirikashvili reiterated international policy specialists have OFFICIALS HAVE BEEN OPEN Georgia’s commitment to becoming a cautioned against Tbilisi moving too ABOUT THEIR AMBITION TO full member of the “European family.” quickly. CONTINUE TO MOVE CLOSER TO “Today, the European Union’s doors THE EU. INVESTOR.GE SPOKE WITH SPECIALISTS ON EU INTEGRATION have opened to Georgians. This is not DIFFICULT POLITICAL CLIMATE AND INTERNATIONAL POLICY only a step towards Euro-integration but Alexandra Hall Hall, a former UK ABOUT WHAT TBILISI SHOULD DO a tremendous achievement,” he said in Ambassador to Georgia and now a se- NEXT. comments to journalists, adding that the nior fellow at the Dinu Patriciu Eurasia

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JUNE-JULY/2017 ‡ Investor.ge | 7 Center, told Investor.ge that it is to the remains full integration within the EU.’ I is enough,” he said. credit of both Georgia and the EU that think that the Georgian leadership needs “It is quite the opposite; it’s just the the visa liberalization regime has been to be careful not to play up expectations beginning of a lengthy and time-consum- put in place. on that,” she said. ing Europeanization process. Despite the In a recent editorial published on skeptical position of some EU members, the Atlantic Council website, Hall Hall TIME FOR REFORM Georgia should continue its reforms and argued that the new visa-free deal was a Koba Turmanidze, the director of act like a member state adopting, step by “one small step for Georgia and one huge Caucasus Research Resource Center in step, EU standards. The experience of leap for the EU.” Georgia, told Investor.ge that now Geor- EU-candidate Balkan states is important “I think it is to Georgia’s huge credit gia needs to focus on taking full advan- in this regard: the more Georgia will do that it persisted with its visa liberalization tage of its Deep and Comprehensive Free its homework, the closer it will be with process. It took longer than the Georgians Trade Agreement (DCFTA) with the EU. the EU and there will [eventually] be wanted, but it was actually quicker than “We need to focus on an information momentum when the EU can’t reject a lot of other countries have achieved, campaign to explain DCFTA opportuni- Georgia’s progress.” Hall Hall stressed, DQGLWUHÀHFWHGYHU\ZHOORQWKH(8WKDW ties to businesses. At the same time, the however, that the Georgian government GHVSLWHWKLVLQFUHGLEO\GLI¿FXOWGRPHVWLF government should design programs to must be sensitive to the political situation environment and backlash against migra- help businesses with export potential. LQWKH(8³7KHUHLVGH¿QLWHO\DGLI¿FXOW tion generally in the EU, it honored its Meeting formal requirements related to political environment within the EU; promise to Georgia. So I would take that DCFTA is hard, but relatively straight- they have many other things on their as a very good sign,” she said. forward,” he said. plate and enlargement, further enlarge- But she cautioned that Tbilisi should Political scientist Kornely Kakachia ment, is not on the agenda within the EU not play up expectations that full mem- also urged the government and the as far as I can observe,” she said. bership is on the horizon for Georgia. Georgian people to push ahead with The views expressed in this article by “I have seen senior Georgian leaders needed reforms. “I think it’s important Alexandra Hall Hall are her own, and talk about Georgian liberalization and that Georgian government and society GRQRWQHFHVVDULO\UHSUHVHQWRUUHÀHFW say, ‘Of course, our long-term aspiration should not think whatever they achieved the views of the United Kingdom. U.S. Bans Aid to Countries Recognizing Georgia’s Separatists

U.S. PRESIDENT DONALD TRUMP SIGNED THE HRUJLDQRI¿FLDOVKDYHSUDLVHG CONSOLIDATED APPROPRIATIONS ACT FOR 2017 a new U.S. ban on govern- IN MAY, INCLUDING A NEW CLAUSE THAT BANS Gment support to countries that recognize Georgia’s separatist regions of THE U.S. GOVERNMENT FROM SENDING FUNDS TO Abkhazia and South Ossetia. ANY COUNTRY THAT RECOGNIZES GEORGIA’S TWO 7KLVLVWKH¿UVWWLPHWKH86JRY- BREAKAWAY REGIONS OF ABKHAZIA AND SOUTH HUQPHQWKDVRI¿FLDOO\DGGHGDSDVVDJH OSSETIA. concerning Georgia’s breakaway regions in a spending bill, the Georgian Ministry of Foreign Affairs noted in a statement published on May 6. Georgia is mentioned in the section on Russian aggression, in the passage

8 | Investor.ge ‡ JUNE-JULY/2017 JUNE-JULY/2017 ‡ Investor.ge | 9 “Occupation of the Georgian Territories Foreign Minister Mikheil Janelidze Margvelashvili said in a statement posted of Abkhazia and Tskhinvali Region/ said the act will be instrumental in restor- on president.gov.ge. South Ossetia.” The document instructs ing Georgia’s territorial integrity. that no government that has recognized “The U.S. Congress has actively GEORGIAN PM MEETS U.S. VICE the independence of, or has established supported us with our problem. This PRESIDENT, PRESIDENT diplomatic relations with, the Russian- has been clearly seen in this decision. Georgian Prime Minister Giorgi occupied Georgian territories of Abkha- Although this legislative act still has to Kvirikashvili also thanked U.S. President zia and South Ossetia may receive U.S. be adopted [editor’s note: the bill was Donald Trump and U.S. Vice President ¿QDQFLDODLG signed into law on May 5, 2017], certain- Mike Pence for their continued support ly after [its] adoption, this will be a key during his May trip to Washington. ACT OF SOLIDARITY instrument for facilitating [the restoration “We received strong assurances of “The Consolidated Appropriations of] our territorial integrity, sovereignty positive partnership from the U.S. in Act, 2017, which includes a passage and [ensuring the implementation of] the every direction. It was a very positive supporting Georgia entitled ‘Occupation policy of non-recognition [of the break- PHHWLQJ:HGLVFXVVHGHYHU\¿HOGRI of the Georgian Territories of Abkhazia away regions internationally],” Janelidze our relations, including cooperation in and Tskhinvali Region/South Ossetia,’ told journalists on May 4. the areas of defense, security, culture, is an act of solidarity with Georgia and Opposition MP Davit Bakradze told development of democratic institutions, demonstrates the U.S. Government’s Imedi TV that the U.S. ban “directly and deeper economic ties,” Kvirikashvili unwavering commitment to its territorial provides Georgia with a better future said. “It was an important conversation sovereignty and independence. The leg- and will make it a more safe and se- that led to a meeting with the President islation sends a clear message to any state cure country in the future. “Georgian of the United States, who also provided that may be inclined to recognize the President Giorgi Margvelashvili said the us with strong messages of support for independence of, or establish diplomatic GRFXPHQWLV³FRQ¿UPDWLRQRI86VXS- Georgia. Overall, we believe these meet- relations with, the Russian-occupied port for Georgia’s territorial integrity.” ings to be of paramount importance for Georgian territories of Abkhazia and “By making this decision, both cham- Georgia’s development and stability. The Tskhinvali Region/South Ossetia that bers of the U.S. Congress, the executive U.S., as Georgia’s major strategic part- this will have consequences in their rela- authorities and President Trump himself ner, will continue supporting Georgia and tions with the United States,” said U.S. further strengthened the strategic partner- these relations will only grow stronger,” Ambassador Ian Kelly. ship between Georgia and the U.S.A,” the Prime Minister stressed.

10 | Investor.ge ‡ JUNE-JULY/2017 D'DYLG$JKPDVKHQHEHOL$YH7ELOLVL*HRUJLD 7HO   

JUNE-JULY/2017 ‡ Investor.ge | 11 ince Georgia’s 2003 Rose Revolution, a natural trade hub; it is working to lower GEORGIA: the country has been focused on barriers for investment and negotiate Sreform. Its successes have been well good trade deals; and the government’s documented: less corruption, increased UHIRUPVDLPWRFUHDWHDVPDOOHIÀFLHQWDQG An “Island” transparency, freer economy, better uncorrupt state. elections. Michael Hikari Cecire, a fellow at the of Democracy Georgia’s progress, in fact, has pulled Foreign Policy Research Institute, noted it away from many of its neighbors: in terms WKDW´WKHUHZDVDOZD\VVRPHWKLQJWR*HRU- and Economic RI LQGLFDWRUV IRU GRLQJ EXVLQHVV ÀJKWLQJ JLD·VDVSLUDWLRQVWRHPXODWH6LQJDSRUHµ corruption and economic freedom, the He added that while there have been Liberty in the country is steps ahead of Armenia, Azer- different political motives for speaking of baijan, Russia and Turkey. Singapore in the past in Georgia, there Caucasus ZDV ´OLWWOH HYLGHQFH WKDW 6LQJDSRUH·V MOVING UP THE RANKS development model was truly studied, GEORGIA’S The World Bank’s Doing Business Re- much less internalized, for the Georgian port, which looks at the regulations that FRQWH[Wµ COMMITMENT TO help—and hinder—the business environ- There are also notable differences be- ment in a country, placed Georgia in 16th tween the two countries, noted Eric Livny, REFORMS IS WELL place—seven ranks higher than in 2016, the president of the International School DOCUMENTED. THE and the top performer in the region. of Economics at Tbilisi State University and By comparison, neighboring Armenia of ISET Policy Institute. COUNTRY HAS MADE was ranked 38th; Azerbaijan was ranked ´,DPQRWVXUH6LQJDSRUHLVDQRDVLVRI 65th; Turkey was 69th in the list and Russia economic or political freedom. It is very PROGRESS IN MOST was 40th. successful economically, and is famous AREAS, INCLUDING In the Heritage Index of Economic for having a greatly centrally managed Freedom rankings, Georgia went up sev- education system. INDICATORS OF eral points, improving from 72.6 percent But it is not known to be a liberal haven. ECONOMIC LIBERTY to 76 percent, which means it maintains An economically liberal dictatorship, at LWVFODVVLÀFDWLRQDVD´PRVWO\IUHHµHFRQR- EHVWµKHZURWHLQDQHPDLOLQWHUYLHZZLWK AND DEMOCRACY, my—the only one in the region. Armenia, Investor.ge. ZLWKSHUFHQWUDQNLQJLVFODVVLÀHGDV ´*HRUJLDLVDYHU\GLIIHUHQWSODFH7KH AND HAS SURPASSED ´PRGHUDWHO\IUHHµ$]HUEDLMDQDQG7XUNH\ local culture is much more rebellious and THE RANKINGS DUH ERWK UDQNHG DV ´QHDUO\ IUHHµ ZKLOH unruly than anything you might encounter 5XVVLDLVUDQNHGDV´PRVWO\XQIUHHµ LQ(DVW$VLDµ/LYQ\DGGHG OF MOST OF ITS In the Global Competitiveness Index, NEIGHBORS. IS THAT Georgia increased its ranking from 66th FOCUS ON PLANNING to 59th place. While that is not the highest For Georgia to build on its success— ENOUGH TO SET IT UP score in the region—Azerbaijan (37), Russia both natural as a strategic transit state (43) and Turkey (55) all rank higher—it is a and earned on its reformist merits—it needs FOR SUCCESS A LA part of the country’s trajectory upward. to do more state-building, Cecire noted. SINGAPORE? While good rankings do not always ´)RU*HRUJLDEHLQJDWUDQVFRQWLQHQWDO guarantee major investments and eco- connector state as well as a relative island nomic growth, countries have bench- of democratic governance and eco- marked their success by improving their nomic liberalism in the region, it certainly rankings. can do more to position itself as a kind of regional ‘Singapore.’ But such a policy is A SECOND SINGAPORE? not about frequent political declarations An example that often comes up is Sin- or development gimmicks, but the long, gapore, the island nation that transformed GLIÀFXOWDQGRIWHQWLPHVWRUWXRXVSURFHVV from an underdeveloped country in 1965 of building a new kind of state from the to an economic powerhouse. JURXQGXSµKHVDLG In a 2015 report, The Economist out- A long-term strategy was a key part lined three steps that have helped Singa- of Singapore’s success, noted Michael pore’s economic success: (1) its strategic Kortenbusch, the principal founder and location and natural harbor; (2) welcom- managing director of Business & Finance ing foreign trade and investment; and (3) Consulting (BFC). DVPDOOHIÀFLHQWDQGKRQHVWJRYHUQPHQW ´6LQJDSRUH·VJUHDWVXFFHVVZRXOGQRW Georgia is on its way to all three of have been possible without proper execu- those traits: it has a strategic location as tion on its long-term strategy. There is no

12 | Investor.ge ‡ JUNE-JULY/2017 reason why Georgia could not achieve WKHRQO\ZD\VWRH[SORLWWKHPµ/LYQ\VDLG XQDSSHDOLQJDVSRVVLEOHµ WKHVDPHµKHVDLGLQD6N\SHLQWHUYLHZ Investing at home is also crucial, Ce- He added that Singapore’s success ´0RVW FULWLFDO ZLOO DOZD\V EH D FOHDU cire said. has also been a product of its drive to stay long-term vision, proper planning, strong ´(FRQRPLFDOO\ *HRUJLD·V WUDGLWLRQDO DVWHS´DKHDGµ leadership and consequent implementa- emphases on a liberal regulatory environ- ´7KH UHDO OHVVRQ IURP 6LQJDSRUH LV WLRQµ.RUWHQEXVFKDGGHG ment and foreign direct investment are about excellence in all endeavors. One QHFHVVDU\ EXW HQWLUHO\ LQVXIÀFLHQW VWHSV 6LQJDSRUHDQ RIÀFLDO RQFH WROG PH WKDW HOME STRENGTHS The greater and more sustainable prize they ‘always had to be ahead’ just to Singapore has also benefited from will come from investing in the country’s survive, and if you look at Singapore’s playing to its strengths. human capital and physical infrastructure; development even from its impoverished, The Economist noted that the island sits if Georgia wants to be the next Singapore, early days of independence, that principle at the mouth of the Malacca Strait—at the it doesn’t need shiny glass towers, it needs has been a kind of constant throughout KHDUWRI´SHUKDSVSHUFHQWRIPDULWLPH a large pool of extremely well-educated, their government, industry, and cohering WUDGHµ JOREDOO\DJLOHZRUNHUVµKHVDLG QDWLRQDOLGHQWLW\µ&HFLUHVDLGLQDQHPDLO *HRUJLDKDVLWVRZQFRPSHWLWLYH´DV- ´7KDW PHDQV EHWWHU VHFRQGDU\ DQG interview with Investor.ge. VHWVµDQFLHQWDQGWUDGLWLRQDOWUDGHURXWHV especially post-secondary education ´,Q PLOLWDU\ DIIDLUV WKDW PHDQW D noted Livny. that can compete with the world’s best. dedication to a credible defense at all ´(FRQRPLFDOO\ ZH KDYH WR UHPDLQ Georgia speaks frequently about being costs; economically, it meant a culture free, because we survive on facilitating a future transit and logistics hub, but it still of innovation and the development of WUDGHÁRZVDQGWRXULVP DWWUDFWHGE\RXU lacks a fully developed, rapid east-west human and physical infrastructure that beautiful landscapes, unique cuisine and highway, among other things. was second to none; diplomatically, it KRVSLWDEOHFXOWXUH µKHZURWH And, frankly, Georgia needs a foreign saw the development of a canny and ´7KHVH DUH WKH RQO\ LQWHUQDWLRQDOO\ and national security policy that both unsentimental foreign policy that staked competitive ‘assets’ we have. Keeping the speaks softly and carries a big enough stick out ambitious goals with achievable ob- borders open and the economy free are to make its potential digestion as entirely MHFWLYHVµH[SODLQHG&HFLUH

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JUNE-JULY/2017 ‡ Investor.ge | 13 development of the banking sector in CAN EMIGRATION BOOST rural settlements. Although the devel- opment of and access to money transfer channels have been rather impressive for DEVELOPMENT? both emigrants from Georgia and their Recent empirical findings in Georgia household members, these channels can still be improved by making them faster A CRRC-GEORGIA CONTRIBUTION Over time, there has been an impres- and cheaper. sive increase in the amount of remit- Business and entrepreneurial educa- espite a lack of reliable statisti- tances from emigrants from Georgia. tion has always been lacking in Georgia, cal data, we do know that labor $OWKRXJKH[DFW¿JXUHVDUHQRZKHUHWR which obviously plays a role in hindering Demigration was an important be found, existing estimates suggest that the development potential of remittances. coping strategy for the population of the value of remittances increased from For remittance receivers, educational Georgia throughout the 1990s and 2000s, approximately USD 300 million in 2004 programs, including short-term training, and it still plays an important role for the to approximately USD 2 billion in 2014. could prove important to demonstrate well-being of many families. But what According to CRRC’s 2015 Caucasus how remittances can be used in a pro- do we know about the impact of emigra- Barometer survey, which can be found ductive way, further argues the OECD/ tion more generally? Is there solid and at http://www.caucasusbarometer.org/ CRRC-Georgia report. According to the empirically sound evidence about how en/cb2015ge/INCSOUAB/, 16% of IPPMD survey findings, members of emigration is affecting the country’s households named money received from only 1% of the households participated development? While helping families relatives living abroad as a source of LQD¿QDQFLDOWUDLQLQJSURJUDPLQWKH survive, are emigration and remittances household income. However, it is well ODVW¿YH\HDUVIDUWRRVPDOODVKDUH eventually leading to economic growth, known that this money is spent almost Importantly, financial education will or is emigration leading to brain drain, or exclusively on consumption, including EHEHQH¿FLDOQRWRQO\IURPWKHSRLQWRI even depopulation? The OECD Develop- spending on real estate (e.g., purchasing view of how remittances are used, but ment Centre’s recent global project aims or renovating household dwellings), with more broadly. to answer these questions for ten very a smaller share allocated for the medical It is not only money that current different countries worldwide, including and educational expenses of household emigrants, as well as returnees, send and Georgia. members. Remittances are extremely bring back to Georgia, and non-monetary The OECD/CRRC-Georgia’s report rarely put to use in productive invest- remittances should also be considered. on Interrelations between Public Policies, ments, e.g. starting businesses. Thus, Experience, knowledge, exposure to Migration and Development in Georgia their development potential has yet to different values and know-how can be a (IPPMD), which launched in March and be realized. VLJQL¿FDQWSXVKIRUGHYHORSPHQWERWK can be found at https://www.oecd.org/ To increase the development poten- personal and a country’s. Although it publications/interrelations-between-pub- tial of monetary remittances, the Govern- would be rather impossible to quantify lic-policy-migration-and-development- ment of Georgia should develop targeted these non-monetary contributions, it is in-georgia-9789264272217-en.htm, policies. The OECD/CRRC-Georgia’s obvious that they, too, provide a resource investigates the development potential of report (a link to which is found above) for further development. emigration and return migration, and is provides some recommendations in this Despite a number of recent research based on solid empirical data collected in respect. projects on various aspects of migration 7KHVXUYH\¿QGLQJVIURPKRXVH- $FFRUGLQJWRWKH,330'VXUYH\¿QG- in Georgia, including the IPPMD project, holds with and without emigrants, show ings, households in urban settlements there are still many migration-related that emigrants from Georgia are, on aver- that report receiving remittances are topics to be studied further. It is crucial age, younger compared to the household more likely to have a bank account than that such projects continue, and that members remaining in Georgia, at 42 and those households receiving remittances the Government of Georgia bases its 47 years old, respectively. As expected, that are located in rural settlements.. migration policy on regular and reliable 80% of these emigrants have left to work. 7KLV¿QGLQJORJLFDOO\FDOOVIRUIXUWKHU empirical evidence. LIKA JORJOLIANI

Georgia Seeks a New hen Larisa Tsertsvadze graduated from high school Win the early 1990s, she Generation of Scientists dreamed of becoming a physicist and researching the mysteries of the universe. THE GEORGIAN GOVERNMENT IS EAGER TO REBOOT THE She studied hard, got good grades and COUNTRY’S SCIENTIFIC COMMUNITY, WHICH SUFFERED graduated, only to discover the chaos that FROM BRAIN DRAIN AND A LACK OF FUNDING IN THE had permeated the country had eviscer- YEARS FOLLOWING THE COLLAPSE OF THE SOVIET ated the science community in Georgia: UNION. WITH AN EYE ON THE NEW GENERATION, THE those who could went abroad. Those who GOVERNMENT AND ITS WESTERN PARTNERS ARE INVESTING couldn’t were working for a pittance or IN EDUCATION AND INNOVATIVE PROGRAMS TO ATTRACT teaching. YOUNG PEOPLE AND BOLSTER THE POPULARITY OF 7ZHQW\¿YH\HDUVODWHU/DULVDKDV SCIENCE-RELATED PROFESSIONS. taught herself through a myriad of new

JUNE-JULY/2017 ‡ Investor.ge | 15 students several science-related diploma programs and partners with three local universities, Tbilisi State University (TSU), Georgian Technical University and Ilia State University (Iliauni). “Studies have shown that human capital is a driver of economic growth for developing countries. Georgia has achieved significant progress after the dissolution of the Soviet Union. +RZHYHUUHFHQWVWXGLHVKDYHLGHQWL¿HG inadequate quality of human capital DVDVLJQL¿FDQWFRQVWUDLQWWRHFRQRPLF growth. The lack of human capital is particularly acute in the Science, Tech- nology, Engineering, and Math (STEM) ¿HOGV´QRWHG&KLHI([HFXWLYH2I¿FHURI MCA-Georgia Magda Magradze. “To tackle this challenge, MCA- Georgia, with funding from the Mil- lennium Challenge Corporation, is implementing projects in general, voca- tional, and higher education focusing on careers, everything from teaching to “Despite the fact that fashionable increasing the quality of education and creating crossword puzzles to designing professions in Georgia are the faculties developing Georgia’s human capital in nail art. of management, law and economics, I 67(0¿HOGV´0DJUDG]HDGGHG And the government has decided it decided to pass exams to enter the bio- As part of the effort to modernize needs science. chemistry faculty,” she told Investor.ge. the curriculum, U.S. professors, as well “Special laboratories have been cre- as Georgian professors who have under- UNPOPULAR PROFESSION ated for students; specialists from the gone intensive training in the U.S., are While the sciences were popular and U.S.A. often visit us and train students. teaching 200 students in the program, prestigious when Larisa was studying, Local lecturers passed special training on Elene Aladashvili, SDSUG Communi- over the past two decades they have lost teaching methodologies. As for my plans cations and Development Director, told ground to other professions—especially for the future, after receiving a bach- Investor.ge. business, law, international relations and elor’s degree, I am going to continue my Students can also participate in stu- languages. education in the U.S.A. and improve my dent exchange programs, studying for a But universities and the government knowledge in biomedical engineering. I semester or a year at the U.S. campus. are betting on new facilities and modern want to create new devices,” she said. The Tbilisi campus also hosts American programs to attract a new generation of students. Other Tbilisi-based universi- students. FOREIGN TIES ties have also unveiled new programs to Keso Katsitadze decided to study Several Georgian universities are attract students and increase interest in biochemistry after learning about the working to upgrade their science facili- studying the sciences. San Diego State University Georgia ties and attract more students. For instance, TSU offers students (SDSUG) program in Tbilisi. The San Diego State University pro- access to 85 different laboratories, and Now a sophomore, Katsitadze said gram is one of the newest. Financed by its physics program has been included the new laboratories and U.S. specialists a $30 million Millennium Challenge Ac- in some international rankings. were a big selling point. count (MCA) grant, the program offers The university has also partnered

16 | Investor.ge ‡ JUNE-JULY/2017 with 200 leading universities and several research and training is GeoLab, a col- cessful experience of reaching out to international organizations, which allows laboration between GAU, Georgian the business community to make sure its students to participate in exchange Innovation and Technology Agency its graduates have the skills they need programs—including with 12 European (GITA), GeoCell and Leavingstone. WR¿QGMREV universities as part of Erasmus+—inter- Modeled after the 24/7 think tanks at Ya- The Executive Director of the Asso- national research and projects, and to hoo, Google, Facebook, etc., Georgians ciation of Employers of Georgia, Lasha obtain foreign diplomas. are being trained and new IT solutions Labadze, told Investor.ge that this is a Tbilisi Free University is also active- developed round the clock. crucial component. ly promoting science careers. The head “Today the Georgian market doesn’t of the biology faculty at the university, FINDING WORK have local technical specialists, and all Giorgi Muskhelishvili, told Investor.ge, Post-graduate employment in the sci- this impedes economic development. that the school opened a genetics labora- HQFH¿HOGVLVDFUXFLDOSDUWRIWKHSX]]OH For example, take importing of equip- tory to help foster greater knowledge and Larisa recalled that when she gradu- ment from abroad: if any manufacturing LQWHUHVWLQWKH¿HOGRIJHQHWLFGLDJQRVWLFV ated, all the research positions were gone equipment is damaged, we have to invite in Georgia. because the research facilities had all specialists from another country [to “Using innovative devices, students closed. What jobs were available paid repair it]. All this makes business more will have the possibility to learn new next to nothing. Scientists, she said, were expensive,” he said. technologies. In fact, our laboratory supposed to work out of “enthusiasm” He noted that members of the As- ZLOOUHFHLYH\RXQJDQGKLJKO\TXDOL¿HG for the job with little to no financial sociation, together with Deputy Educa- students in Georgia, and new specialists compensation. tion Minister Ketevan Natroshvili, have will receive the possibility of employ- The lack of sustainable employment discussed changes to the law concerning ment,” he said. with a decent wage added to the decline professional education. Georgian American University in interest in the sciences, she noted. The talks, he said, are a chance for the (GAU), Caucasus University (CU), In- Today, universities with science pro- Ministry to learn about the concerns of ternational Black Sea University (IBSU) grams are trying to change that: some, the business sector. The aim of the new and University of Georgia (UG) all have like Georgian American University, have law is to improve the quality of the sys- successful and growing IT and Informat- employment centers, and San Diego tem of professional education, establish ics programs to address the shortage of State University Georgia holds job fairs. links between professional and higher TXDOL¿HG,7SURIHVVLRQDOVLQ*HRUJLD San Diego State University Georgia education, and create a system of train- Another unique concept for IT is also following the U.S. campus’s suc- ing and retraining and other innovations.

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JUNE-JULY/2017JUNJUJUUNNEEJE-J-JJUULYLLYY//20/20171 ‡ Investor.geInvestorr.gge | 17 The Avant-Garde of Technology and Art: Georgians Redefine Digital Marketing

18 | Investor.ge ‡ JUNE-JULY/2017 Windfor’s Communication campaign

A FEW MONTHS AGO, A DUTCH TOURIST TRAVELING TO GEORGIA WAS TREATED TO AN INCREDIBLE SURPRISE: HE WAS GEORGIA’S SIXTH- MILLIONTH TOURIST AND GOT VIP TREATMENT, WHICH INCLUDED A DINNER WITH PRIME MINISTER GIORGI KVIRIKASHVILI. THE VIRAL VIDEO OF THE SIXTH-MILLION TOURIST CAMPAIGN, CREATED BY A GEORGIAN MARKETING COMPANY, WAS YET ANOTHER SIGN OF THE CREATIVE BOOM IN GEORGIA’S DIGITAL MARKETING INDUSTRY.

MAARTEN DE BOER

JUNE-JULY/2017 ‡ Investor.ge | 19 Windfor’s Communication campaign

bilisi has been hailed the last few it was covered by international newspa- for the internet commercial “100% Real years for its cultural revolution, pers, as well as advertising publications. Virtual Reality.” In this commercial, Twhich includes its techno clubs, random Georgian people got to wear fusion restaurants and stylish hotels. A CANNES LIONS VR-glasses, through which they saw an cultural boom can also be seen across Over the past few years, there has Irish pub. As soon as they took off the all creative industries in the country, and been increased international interest in glasses, they found themselves standing DGYHUWLVLQJLVGH¿QLWHO\RQHRIWKHP7KH Georgia’s advertising industry: in 2015 in the actual pub. recent campaign of the sixth-millionth a Georgian marketing company, Leav- And there were more successes in visitor is yet another example of how the LQJVWRQEHFDPHWKH¿UVWLQWKHFRXQWU\ 2016. Bank of Georgia won a Cannes LQGXVWU\LVÀRXULVKLQJ to win an award at the Cannes Lions Lion (Gold) for their campaign on cli- Windfor’s Communication is the International Festival of Creativity, the mate change. Furthermore, in the Cannes creative mind behind the sixth-millionth most prestigious international event Young Lions competition—a competi- tourist viral video (viewed over two mil- in the advertising world—it attracts tion for marketers under 30—Georgia lion times). The company’s creative di- 11,000 registered delegates from 90 was selected as the best representative rector, Beqa Meparishvili, told Investor. countries each year. Leavingstone won of 2016. ge that the video was a marriage of mod- *HRUJLD¶V¿UVW&DQQHV/LRQ %URQ]H LQ ern communication tools and Georgian the category “Launch or Re-Launch” for GEORGIA’S SUCCESS tradition. “With this video we wanted to its internet commercial “Statue Just for While it took several developed tell the Georgian people that we had a Loving Beer,” which promoted Georgian countries years to gain success in these record number of visitors in 2016 and, beer company Natakhtari’s new product, international competitions, Georgia has simultaneously, we wanted to show for- “34 beer.” That was only the beginning. become successful within a relatively eigners how hospitable this country is.” A year later, Leavingstone won another short period of time. Vakho Vakhtang- The Georgian campaign was so popular Bronze Cannes Lion in the PR category ishvili, co-founder of the company

20 | Investor.ge ‡ JUNE-JULY/2017 Windfor’s Communication campaign

Leavingstone, believes that is because designing something of Georgian quality, Soviet atmosphere that was here,” he “every Georgian thinks like a hacker.” but something of international quality. It said. He believes that several factors “When you don’t have enough re- has outgrown Georgia.” This trend, he KDYHLQÀXHQFHG*HRUJLD¶VVXFFHVV sources, the only way to beat the system VDLGLVUHÀHFWHGLQWKHFRPSDQ\¶VFOLHQWV “First of all, people want to be part of is to hack it. Look at what happened in and portfolio. “In all units, the strategic success. Success is contagious; it attracts. the ‘90s when we did not have electric- goal is to decrease the percentage of busi- And there is also a degree of sport—there ity. People were tapping it from hospitals ness of Georgian companies in favor of LVFRPSHWLWLRQsignature in some way.” company in 2004 and saw Georgia de- Kavtaradze added that Georgians’ /HDYLQJVWRQHZDVWKH¿UVWORFDOO\ velop from a country with no advertising passion for the work is pushing the local based company to fully focus on digital to a country with a booming advertising industry forward. campaigning. Today they have 115 em- industry. “People have become culturally “For me, this is the most interesting ployees working in eight departments, aware and have realized that life is about profession. It’s a synthesis of making art, from social media to web design and responsibility. That it’s not about others, business and combining it with psychol- creative campaigns. but that it’s up to you to do something. ogy. You are always in the avant-garde, Vakhtangishvili noted that the “digi- There is an entrepreneurial spirit, which with technology as the tool and art as the tal marketing industry in Georgia is not is like a wind that is blowing away the communication,” he said.

JUNE-JULY/2017 ‡ Investor.ge | 21 FDQVKRSLQDVLJQL¿FDQWO\PRUHFRPIRUW- From Open Markets to able situation than in bazaars, and they FDQ¿QGWKRVHSURGXFWVWKDWWKH\FDQQRW ¿QGLQORFDORSHQPDUNHWV´KHVDLG While hypermarkets have been Online Bazaars: around for a bit longer, shopping malls appeared in Georgia only a few years Tbilisi’s Evolving Retail Market ago. Tea Lominadze, Marketing Director of East Point, told Investor.ge that since IN THE LAST DECADE, THE GEORGIAN CAPITAL HAS WITNESSED WKHLURSHQLQJLQSUR¿WVKDYHEHHQ A NOTABLE GROWTH OF MODERN GROCERY RETAILERS AND constantly growing. MODERN SHOPPING CENTERS. INVESTOR.GE TOOK A CLOSER 6KHZRXOGQRWSURYLGH¿JXUHVFLWLQJ LOOK AT THE CHANGING NATURE OF RETAIL IN TBILISI AND commercial secrets. But she noted that INVESTIGATED HOW THAT IS AFFECTING TRADITIONAL MARKETS. “since our opening, we are rising from month to month. It is a matter of time: GIULIA BERNARDI ers an appealing alternative to bazaars customers will switch from bazaars to and small corner stores: the possibility to shopping malls.” raditionally linked to bazaars, shop in a clean and modern environment Since Tbilisi Mall opened in 2012, open markets, street vendors and with a wider range of products. several other projects followed: Gldani Tfamily-run shops, the Tbilisi re- Nukri Nozadze, the administrator of Plaza and Gldani Mall opened in 2014, WDLOODQGVFDSHKDVXQGHUJRQHVLJQL¿FDQW Borjomi Bazaar, told Investor.ge bazaars East Point in 2015. Hualing Mall, Gldani developments over the last few years. have lost part of their clients to the mod- Central and Galleria Tbilisi are currently ern markets. under construction. A MODERN COMPETITOR “Part of our clients, who belong to the “We are gaining the trust of people by The growth of hypermarkets and su- middle class and used to shop in bazaars, offering a good atmosphere and comfort, permarkets have given Georgian custom- has switched to supermarkets. There they competitive prices and a better selection

22 | Investor.ge ‡ JUNE-JULY/2017 compared to that offered in non-branded shops,” said Tina Kukhianidze, Execu- Tbilisi’s Plan for Street Vendors tive Director of Gldani Mall. Dariusz Rudzinski, Shopping Center Tbilisi Municipality started a pro- WKHVHFRQGVWHSZLOOEHWRGH¿QHVSHFL¿F Manager of Galleria Tbilisi, notes that gram to clear Tbilisi streets of street products that can be sold on the street, the malls are creating an experience vendors in November 2016. VXFKDVPDJD]LQHVQHZVSDSHUVÀRZ- beyond shopping. While Georgian law forbids selling ers and paintings. This will be allowed “We create malls and shopping cen- goods on the street, it is still a wide- only in certain places, and they will be ters to give our customers an experience. spread practice. subject to very strict regulations,” he told Shopping is fun—it is not just to buy. The first stage of the program is Investor.ge. Galleria Tbilisi will be attractive and af- to move illegal vendors out of all the All street vendors will be moved to fordable to everybody,” Rudzinski said. main tourism destinations and the areas organized markets, he said, noting that Vendors in bazaars complain that around the metro stations. City Hall has been negotiating with the their sales have diminished since the (YHQWXDOO\RI¿FLDOYHQGLQJVSRWV Association of Bazaars in order to pro- opening of hypermarkets and shopping will be established around the city for vide sellers with alternative solutions. centers. DGH¿QHGOLVWRISURGXFWVDFFRUGLQJWR Street vendors have been offered to “Big shopping malls interfere with Irakli Lekvinadze, the Deputy Mayor of move to regular markets without hav- our business. The more they open, the Tbilisi City Hall. LQJWRSD\UHQWIRUWKH¿UVWVL[PRQWKV fewer people will come here. They cre- ³7KH¿UVWVWHSRIWKHSODQZDVWR At the moment, 3,000 such places have ate higher competition,” said Laila, who completely eradicate street vendors. But been offered.

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JUNE-JULY/2017 ‡ Investor.ge | 23 a strong correlation with disposable income. Many people are still going for the cheapest option possible; therefore, I am sure that bazaars are going to be around for some time,” he said. Eventually, however, bazaars will have to develop and reinvent themselves in order to survive. And some of them are already doing that.

ONLINE FUTURE Gagua, the President of Lilo Mall, one of the oldest markets in Georgia, told Investor.ge that they have decided to turn to e-commerce to compete in today’s changing retail market. “We could have modernized all the shops and transformed Lilo Mall into a comfortable shopping unit. But that sells fruit and vegetables at the Borjomi the population represents the largest would have increased rents for our ten- Bazaar. Maia, who sells electronic de- part of Georgians, nothing will change. ants. Therefore, we are trying to transfer vices at Lilo Mall agrees. “We cannot Asian-style markets existed and will the market onto the internet. Online is the compete with them,” she said. continue to exist,” Borjomi Bazaar’s future. We are now creating a website Nozadze said. that will work like eBay, but only with BAZAARS AS A SUBSTITUTE Esben Emborg, Managing Partner at Lilo Mall products, and people will be Experts believe that in the short term, SEAF, Caucasus Growth Fund, agrees. able to buy online,” he said. bazaars will continue to exist due to their “Bazaars will be reduced and they will While Georgians have been using ability to provide needed goods for less. specialize. The shift is already happen- internet sites to purchase goods from “As long as the low-income part of ing and it will continue. But, it still has abroad, online shopping is still a rela- tively new option for Georgian stores, and service providers are starting to at- Street Vendors Around the World: tract customers to e-commerce. Tsotne Ebralidze, Managing Direc- A $10 Trillion-Dollar Industry tor of Hospitality and Real Estate at the Georgian Co-Investment Fund, told In- From hot dogs and bottled water, to work in the economy that is unregu- vestor.ge that at this time online shopping used books and popcorn, street vendors lated and informal. is linked to foreign products. are a part of urban life in Tbilisi and cities That’s a huge number, and what “I would say it is booming, but not around the world. does that mean? Well, it means if it because of the online shops within Geor- There are no reliable statistics on how were united in a single political system, gia,” he said. many people depend on informal street one country, call it ‘The United Street Emborg agrees that online shopping trading, although it is estimated that were Sellers Republic,’ the U.S.S.R., or GRHVQRWUHSUHVHQWVDVLJQL¿FDQWSDUWRI roughly 1.8 billion street vendors in the ‘Bazaaristan,’ it would be worth 10 tril- the Georgian retail sector. “For the local world as of 2012, according to journal- lion dollars every year, and that would market, it must be less than 1% of the ist Robert Neuwirth, the author of The make it the second largest economy in trade. It is a sector that will grow, just Power of the Informal Economy. the world, after the United States,” he like everything else, but I do not see it “1.8 billion people around the world said in a 2012 TED Talk. happening here soon,” he said.

24 | Investor.ge ‡ JUNE-JULY/2017 Gelati Monestary

SOD\HGVHFRQG¿GGOHWR7ELOLVL Kutaisi: Building a New Future But it is a town with a history of be- ing great: it was the capital of the ancient for Georgia’s Second City kingdom of Colchis (archeologists have found evidence it existed in the 6th cen- A NEW, FAST TRAIN AND INTERNATIONAL- tury BC) and served as the capital of the BRAND HOTEL ARE DRIVING HOME A CITY’S united Georgian kingdom between the AMBITIONS TO REBRAND AS A REGIONAL 9th and 11th centuries. It regained some of its past impor- CENTER FOR TOURISM. tance when the Georgian parliament was moved to Kutaisi and a new, modern airport opened in the city in 2012. While those projects have not par- layed into the economic boom some NANUKA BREGADZE But a growing number of tourists and hoped for, they have pushed Kutaisi into new, multi-million lari investment plans the limelight—restaurants and hotels or the past two decades, Kutaisi are feeding hopes Kutaisi can rebuild as have opened to serve members of parlia- has struggled. A former industrial a tourism and cultural mecca for western ment during the legislative sessions, and Fcenter for Soviet Georgia, its doz- Georgia. FKHDSÀLJKWVIURP(XURSHDQFLWLHVKDYH ens of factories were shuttered following helped nurture the tourism industry in independence. NEW LIFE FOR AN ANCIENT CITY the region. Kutaisi was plagued by high unem- An ancient city located 137 miles In addition, Prime Minister Giorgi ployment and a massive exodus. west of the capital, Kutaisi has long Kvirkashvili promised a “fresh boost”

JUNE-JULY/2017 ‡ Investor.ge | 25 Prometheus Cave for Kutaisi in April of this year. “Kutaisi will become a very impor- jobs and help develop the service sector A large, modern university campus tant center of Georgia’s structural de- in the city. is under construction, which will be YHORSPHQW*HRUJLDKDVDZHOOMXVWL¿HG “All projects that promote the devel- connected to the Tbilisi Hi-Tech Center ambition of becoming a regional hub,” opment of the airport are very important to create a single educational complex, Kvirikashvili said. for Kutaisi. First of all, [the fast train he said. The fast train service requires a new, project] will help tourism development,” “Kutaisi will become an international three-kilometer railroad and a new sta- he said. college town, which will give it a fresh tion near the Kutaisi airport. Work started “Additionally, the project can in- boost. Historically, Kutaisi has been on April 3 and is estimated to cost 5 mil- crease employment rates. When we Georgia’s cultural center, and it will also lion lari. The project is being funded by are talking about this, we should think become an important business center, the Georgian Railway. DERXWLWLQWZRZD\V¿UVWO\WKHSURMHFW a vital hub for transport, logistics, and 2I¿FLDOVDUHEHWWLQJWKHQHZVHUYLFH will employ hundreds of people and tourism,” Kvirikashvili said. which will give travelers a direct link to secondly, increased tourist numbers will ÀLJKWVLQERWK.XWDLVLDQG7ELOLVLZLOO develop the service sector and thousands TRAIN TO THE FUTURE boost tourism to Kutaisi and the rest of RISHRSOHZLOOVHHDSUR¿W7KHSURMHFW There are also plans to start a new, the Imereti region. allows a great deal of potential, because fast train service between Tbilisi’s central Kutaisi Mayor Shota Murghulia told two different types of transport are linked station and Kutaisi airport next year. Investor.ge that the project should create to each other.”

26 | Investor.ge ‡ JUNE-JULY/2017 Kutaisi, a former industrial center for in the Soviet era, may not strike the ca- sual visitor as a natural draw for tourism. Things to do in Kutaisi But the ancient city is full of quiet charm, and has a long history as a cul- Lonely Planet once described Kutaisi as a city that rewards tural capital for the country. In addition, a walker, which is a polite way of saying the good stuff is there are dozen famous tourism sites tucked away out of sight. within a day’s drive of the city, including You may have sped past Kutaisi on your way to Batumi or UNESCO World Heritage Site Gelati scrambled to make the right turn to grab a burger at the Monestary and the fossilized footprints McDonalds before heading out to the airport, and think of Georgia’s very own dinosaurs in you know the city. Sataplia Nature Reserve, to name a few. But away from the highway and the central market, it is The new infrastructure will make it a city of small, tree-lined streets and crumbling sidewalks, easier for tourists to get to Kutaisi and split by the Rioni River. Here is a short list of places worth a H[SORUHWKHUHJLRQRI¿FLDOVVD\ visit in and around the city: Dachi Tsaguria, head of the Georgian Satsnakheli, a Georgian wine cellar and taste room; Geor- Railways PR Department, told Investor. gian and European food and live music can be found in the ge that the company expects 100,000 Palaty Bar – Restaurant; and the Almano Bar has traditional more passengers to ride the train once and nontraditional dishes, as well as live music and karaoke. the new service is up and running.

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14, Kostava Street, 0108 Tbilisi, Georgia [email protected] | +995 32 2020999 JUNE-JULY/2017 ‡ Investor.ge | 27 George Molodinashvili, CEO of Avi- security procedures. Also, there are cases 7KH%HVW:HVWHUQ+RWHO¿QDQFHGXQ- ation Consulting Group LLC, noted that when, as a result of cooperation, airline der the Produce in Georgia government- the new rail service will make connec- and railway companies offer customers run program, has already created 200 tions and air travel easier for passengers. mixed air and rail shipping services,” jobs in the city. “In some European countries, a Molodinashvili told Investor.ge. “Studies show that there is big de- railway station has the function of an mand for tourism infrastructure in the airport as well. This means that the pas- INTERNATIONAL BRANDS Imereti region, because various tourist sengers can pass through the railway Investors have also noted the poten- routes across western Georgia spread station, hand off their luggage, and after WLDO7KH¿UVWLQWHUQDWLRQDOEUDQGKRWHOLQ from Kutaisi. Also statistics say that our getting to the airport with the train, they Kutaisi—and the wider Imereti region of YLVLWRUÀRZLVJURZLQJDQQXDOO\´QRWHG only have to pass through the aviation the country—opened in April. Tariel Gabunia, head of the company Simetria, which built the hotel. The Mayor told Investor.ge that Best Western is just the beginning. “I am sure hotels will be constructed and other types of infrastructure will be developed in the area near the airport. The point is that many people gather there and such places are good for any business to be developed. As I know, negotiations have already started with the Ministry of Economy about the is- sue,” he said. “The process is already started in Kutaisi. There is planned construction of a new large hotel. Overall, the number of tourists and airport users will increase and that will improve, with a positive effect on the development of the entire city,” he added.

28 | Investor.ge ‡ JUNE-JULY/2017 JUNE-JULY/2017 ‡ Investor.ge | 29 SALLY WHITE nities of grievances.’ Their ability to am- FAKE NEWS plify antiestablishment grievances poses HRUJLDRI¿FLDOO\UHFRJ- a serious challenge both to the domestic nizes Russia’s soft power stability of Russia’s opponents and to IN GEORGIA: “Gas a major threat” was the unity of their responses to Russia.” how Caucasus web-media JAM News The Government’s heralded Georgia’s Strategic Defense FAVORITE TARGETS Review last month, as though this was Much of Russia’s fake news has Plan to Tackle something new. Quite understandable– been aimed at destablising the country’s but wrong! Georgia’s counterattack has EU relationships. With the EU having Russian Soft been underway for well over a year now, granted visa-free Schengen-area travel HYHQLIORZSUR¿OH:KLOHWKHZRUNLV for Georgia (a favorite topic of Russian Power underway, NGOs have adopted a wait- skepticism and anti-EU propaganda), and-see stance. it can be expected to escalate further. THE GOVERNMENT Georgia’s NATO ambitions, too, are a WEAPONIZING THE MEDIA prime target. HAS OFFICIALLY As everywhere, the extent of Russia’s A latest flair-up has been a well- RECOGNIZED weaponizing of the media, creating “fake publicized notice on the Russian Foreign RUSSIAN SOFT news,” has grown insidiously in Georgia. Ministry’s website warning its citizens Some of it is aimed at nurturing nostal- that it was risky to visit Georgia–the POWER AS A MAJOR gia, or alarm and discontent, among the holiday venue of choice for over a mil- SECURITY THREAT. unemployed, the older population and lion Russians and a valuable source of INVESTOR.GE LOOKS in the regions with Azeri and Armenian UHYHQXH7KLVIROORZHG*HRUJLDÀRDWLQJ AT HOW SIGNIFICANT minorities. the idea of blacklisting former mayor of The Georgian Media Development Moscow Yury Luzhkov after his high- THE THREAT IS AND Foundation (MDF), in a USAID- and SUR¿OHYLVLWQRWMXVWWR*HRUJLDEXWWR HOW TBILISI AIMS TO UNAG-funded 2016 report entitled Georgia’s breakaway regions. DEAL WITH IT. “Anti-Western Propaganda,” found that “the main source of anti-Western CHALLENGING THE NARRATIVE messages was the media, which can So, how is this being countered? be divided into two groups: openly Back in March 2015, a European Union pro-Kremlin outlets (Georgia & World, Council meeting stressed the need to Sakiformi, Politicano) and anti-liberal, challenge Russia’s ongoing disinforma- ethno-nationalist platforms (Obieqtivi tion campaigns in the Eastern European TV, Asaval-Dasavali, Alia) with quali- Neighbourhood. As a result, the EU tively identical messages.” created the East Stratcom Team (named Other dominant topics, it found, after its role of strategic communication) were “legalization of homosexuality/ to challenge Russia’s campaigns. pedophilia and the perverse mode of life The EU also announced it would in the West.” Many portrayed the West as devote more money and resources to its ³D¿JKWHUDJDLQVW2UWKRGR[&KULVWLDQLW\ East Stratcom Task Force to combat Rus- and traditional values.” sian fake news in these Neighbourhood As a King’s College London report, countries, which include Georgia. The “Assessing Russia’s Power,” com- increased budget covers the https://euvs- mented, “The key advantage of Russia’s disinfo.eu website, identifying disinfor- propaganda outlets is that they can easily mation reports and counteracting them. penetrate the echo chambers of ‘commu- 7KH7DVN)RUFH¶VMREZDVGH¿QHGDV

30 | Investor.ge ‡ JUNE-JULY/2017 “developing communication campaigns, Georgian government’s own commu- carried out with NGOs and international targeting key audiences and focusing on nications, making it more streamlined, organizations to create a program to VSHFL¿FLVVXHVRIUHOHYDQFHWRWKRVHDXGL- with a strong central narrative and core “raise awareness in society,” including HQFHVLQFOXGLQJORFDOLVVXHV´DVGH¿QHG messages. The work on both of these countering Russian propaganda, says the by the European Council. strands is ongoing,” Investor.ge was told. State Minister of Georgia on European The follow-through in Georgia has Part of the latter is the government’s and Euro-Atlantic Integration, Victor been the setting up of StratComs units news website, Agenda.ge. Dolidze. of its own. Linking in with the EU’s task This is being picked up regularly by “We have reiterated that we do not force, the Ministries of Defense and For- the commercial sector, including interna- counter propaganda with propaganda: we eign Affairs have established StratComs tional news service Caucasus Business ¿JKWZLWKFLYLOL]HG(XURSHDQ:HVWHUQ XQLWVDQGRI¿FHUVKDYHEHHQDSSRLQWHGLQ Week, owned by global media group methods, and this is crucial to raise the other ministries. There is a coordinating Euromoney. awareness of our citizens; [with the] pro- GHSDUWPHQWLQWKH3ULPH0LQLVWHU¶VRI¿FH Also, as the Office of the State YLVLRQRILQIRUPDWLRQRQWKHEHQH¿WVRI that leads on all cross-government mes- Minister of Georgia on European and membership to the EU and NATO; why saging. Georgia’s StratCom also links in Euro-Atlantic Integration itself explains, the EU and NATO and not the Eurasian with the media efforts of the EU and U.S. the Georgian Stratcom units are “con- Union instead. SDUWQHUVLQYDULRXV¿HOGVLQFOXG- We would like to bring to ing the UN and NATO. everyone’s attention that we Recounting the work in Geor- $VHYHU\ZKHUHWKHH[WHQWRI5XVVLDsV have an opportunity to bet- gia of the last few months, one of weaponizing of the media, creating ter educate our children, to Georgia’s EU partners explained implement more economic and that “first there was in-house tIDNHQHZVuKDVJURZQLQVLGLRXVO\LQ investment programs, to bet- research on the anatomy of pro- ter develop our infrastructure, paganda (i.e. what tools they use; Georgia. [and] to ensure our country’s who amplifies their messages; economic and political security what kind of disinformation they dis- tinuing to carry out media monitoring with stable energy,” he added. seminate, etc.). Then there was an as- and analysis.” Backing this up, given sessment of the impact of propaganda the importance of “fact-checking,” the PUSH TO DO MORE and negative narratives…” As a result, government is “enhancing capacity” This non-aggressive response upsets Georgia devised and adopted an action communications and is very keen on some activists. There is a lot of appeal plan – together with EU and U.S. – on “the importance of media literacy in the for them in having a Radio-Liberty-type KRZEHVWWR¿JKW5XVVLD¶VGLVLQIRUPDWLRQ country and is calling for increases in platform beaming out humor and satire campaigns. various projects in this regard.” to which the Russian leadership is so vulnerable! Or in having something akin POSITIVE AND TRUTHFUL A NEW STRATEGY FOR CYBER to what’s found in Georgia’s favorite role “The work has two strands. First, it SECURITY model, Estonia, where Propastop, run by ZDVDJUHHGQRWWR¿JKWSURSDJDQGDZLWK A new National Cyber Security volunteers, regularly debunks news com- propaganda, but instead invest in coun- Strategy of Georgia for 2017-2018 will ing out of Russia, defusing propaganda. teracting disinformation with accurate, tackle Russian cyberattacks and cyber- Though the Georgian Media Devel- positive information. FULPHVLGHQWL¿HGDVDPDMRUWKUHDWIRU opment Foundation would prefer that For example, if the propaganda mes- the country. ruling party MPs abstain from issuing sage was that it was expensive to export Georgia’s ambition to join NATO is “confusing contradictory messages,” agricultural goods to the EU, they started another Russian target. Here the govern- the government’s new strategies, as an- engaging directly with local farmers to PHQWKDVFRPHRXW¿JKWLQJLQUHVSRQVH nounced, tick all of its boxes, at least. H[SODLQWKHEHQH¿WVRIIUHHWUDGHZLWKWKH to NGO and partner criticism that it is “But,” the Foundation adds, “it is essen- EU in simple, understandable language. QRWHQJDJLQJVXI¿FLHQWO\ZLWKWKHORFDO tial to see the implementation and usage The second strand is improving the population. Extensive work has been of these documents in practice.”

JUNE-JULY/2017 ‡ Investor.ge | 31 offerings. The company, which owns pet- Finding a Niche Among the rol and supermarket chains as well, has introduced khachapuri and lobiani to the menu at its Dunkin’ Donuts franchises. Khachapuri: The Success of It has also brought Wendy’s to Georgia. Foreign Fast Food in Georgia From the beginning, Wissol Group tried to make it clear for Georgian con- IN A COUNTRY WHERE LOCAL CUISINE IS A MATTER OF sumers that their restaurants would not NATIONAL PRIDE, ONE MIGHT EXPECT THAT FOREIGN BRANDS be about fast food, but rather a chain of WOULD FAIL IN IMPRESSING GEORGIAN FOOD AFICIONADOS. American restaurants, Soso Pkhakadze, BUT MAJOR AMERICAN BRANDS—MCDONALD’S, KFC, President and Chairman of Wissol Board WENDY’S, SUBWAY, DUNKIN’ DONUTS AND OTHERS— ARE of Directors, told Investor.ge. REPORTING 15-20 % ANNUAL GROWTH AND, AMID GROWING He noted that they decided to try two COMPETITION, KEEP EXPANDING. INVESTOR.GE LOOKS AT HOW of the most famous Georgian dishes— LOCAL COMPANIES OBTAIN AND MAINTAIN A LICENSE FROM khachapuri and lobiani—on the menu for WORLD-KNOWN BRANDS—AND HOW THEY ARE FINDING A three days as a test at Dunkin’ Donuts.“It NICHE IN GEORGIA’S RICH FOOD CULTURE. turned out that Dunkin’ khachapuri has become our number one best seller and Dunkin’ lobiani is number two,” MAIA EDILASHVILI-BIERMANN for two years, Kapanadze recalls. “The Pkhakadze noted. He underlines that it ¿UVWUHVWDXUDQWRQ5XVWDYHOL$YHQXHZDV was a bold decision, as Georgian custom- hen McDonald’s debuted opened by 13 managers, plus an expat ers all know how a great khachapuri and in the Georgian capital in operations consultant was assigned to lobiani should taste. W1999, Tbilisi residents were oversee the process. A year and a half The company also started to local- ostensibly more interested in a stable later, we were told that McDonald’s ize the products they use in both their electricity supply than a Big Mac. Georgia could continue independently,” Wendy’s and Dunkin’ Donuts restau- But those famous Golden Arches— he said. rants, including the beef, chicken, bread *HRUJLD¶V¿UVWLQWHUQDWLRQDOIDVWIRRG Now McDonald’s Georgia has 11 and ice cream. franchise—found success. restaurants, plus a logistics center, and Pkhakadze considers this to be the employs approximately 930 people, biggest breakthrough. “We have replaced UNLIKELY BREAK with an average age of 20-22 years. “At approximately $10 million worth of 7KHWLPLQJZDVOXFN\*HRUJLD¿W RXURI¿FHRIHPSOR\HHVKROGLQJ imports with local production,” he said, into a corporate plan to expand McDon- senior positions are former employees,” naming this as the company’s biggest ald’s internationally. Kapanadze said. The 20-person manage- achievement in the restaurant industry. “At that time, McDonald’s had a plan ment team is running the whole business, The only product that they still import to expand to all countries, up to the Great which enjoys a 60 million lari annual is potatoes, he said, which they need to Wall of China. We were lucky to get that turnover (approximately $26 million). make French fries. They are looking for chance. On the other hand, Armenia still a way to source that locally as well, he KDV\HWWRJHWLWV¿UVW0F'RQDOG¶VDQG INTERNATIONAL STANDARDS, added. “People are very happy when .D]DNKVWDQRSHQHGLWV¿UVW0F'RQDOG¶V LOCAL TASTES they hear that we have only Georgian- only last year,” Tengiz Kapanadze, man- After McDonald’s broke into the produced stuff,” he said. aging director at McDonald’s Georgia, market, Georgians developed a taste for recalled in an interview with Investor.ge. hamburgers and French fries—and fast QUESTIONS OF QUALITY AND %HIRUHEHLQJDOORZHGWRRSHQWKH¿UVW food menus started to adapt to Georgia. QUANTITY McDonald’s in Tbilisi, we had to attend Georgia’s Wissol Group has gone the But not all franchise arrangements training sessions in various countries furthest in terms of localizing fast food allow for so much latitude.

32 | Investor.ge ‡ JUNE-JULY/2017 KFC Georgia CEO Zurab Neparidze He noted, however, that while KFC ROOM FOR GROWTH told Investor.ge that when opening a new Georgia cannot use local chicken since it The mix of foreign and local appears outlet, everything from its location to de- does not match KFC standards, they can to be working for all the major food sign details such as the color and shape of purchase other Georgian products to use franchise brands in Georgia. the restaurant’s letters, needs to be agreed as ingredients in their restaurants. “On average, each of our restaurants XSRQZLWKWKH.)&UHJLRQDORI¿FH Subway Georgia has an authorized contributes half a million lari ($206,000) “The kitchen equipment has to be supplier, which imports products from to the state budget annually, gives jobs produced by companies approved by Europe. to around 60 young people and produces KFC,” he said. Locally, they buy only vegetables 20 managers, at a minimum, with inter- That can limit what restaurants can because they need to be fresh and Geor- QDWLRQDOTXDOL¿FDWLRQV´.DSDQDG]HRI tweak in their menus. gian vegetables are tastier than those that McDonald’s Georgia said. “Our menu follows guidelines set are imported, Givi Ordenidze, Subway’s Since it was founded, McDonald’s for the former CIS and Eastern Europe,” Development Agent in Georgia, said. Georgia has contributed 57 million Neparidze noted. “However, every two McDonald’s has also found a way to lari ($23 million) to the state budget or three months, we have a French week engage with the local market: this year and invested 59.5 million lari in its or Italian week, when certain business. This year, apart from ingredients change to highlight plans to open a new restaurant in ÀDYRUVW\SLFDORIWKRVHFRXQWULHV´ Subway Georgia has an authorized Gallery Tbilisi, a shopping mall For KFC, one solution has VXSSOLHU/RFDOO\WKH\EX\RQO\ under construction on Rustaveli been to interest the parent com- Avenue, McDonald’s will open pany in adding Georgian items to YHJHWDEOHV a new restaurant in the western the global offerings. Georgian city of Kutaisi. The The head office has shown inter- they opened a Georgian logistics center. company expects to report 20-22% an- est in local food, particularly sauces, Kapanadze explained that even nual growth this year. Neparidze said. “Tkemali sauce might be though imported products are cost- Wissol Group is similarly enthusi- introduced as a variety of KFC sauces in lier, McDonald’s Georgia cannot buy DVWLFDERXWWKHIXWXUHLQWKH¿UVWIRXU the future. Just like KFC has French or products locally due to international months of 2017, sales have grown by Italian weeks throughout its worldwide food safety standards. “If you take our 14% at Dunkin’ Donuts and by 15% at network, they may organize a Georgian burgers, each box has its code, allowing Wendy’s. “We have localized our supply week too,” he said. RQHWR¿QGRXWWKHRULJLQVRIWKDWPHDW as of December and we attribute this Quality and quantity is also an issue within two hours: from which farm the growth to this important achievement,” for international franchises. cow/pig comes from and what was their Pkhakadze said. “Based on quality-control issues and food,” he says. Currently, there are eight Wendy’s international standards, we are limited Their food supply mainly comes from restaurants in Georgia and all of them in this regard. Everything needs to be Germany, Holland and England. The DUHSUR¿WDEOHDFFRUGLQJWR3NKDNDG]H coming from suppliers approved by opening of the logistics center allows There are 17 Dunkin’ Donuts restaurants McDonald’s headquarters,” Kapanadze McDonald’s Georgia to be integrated into DQGRIWKHPDUHSUR¿WDEOH6L[QHZ of McDonald’s Georgia said. “However, the brand’s international logistics system restaurants are under construction, he sometimes we take ingredients from two and, if need be, they can supply other said, and by the end of 2017, there will countries and make a single product.” countries such as Azerbaijan, Armenia be a total of 31 restaurants from both KFC Georgia’s Neparidze also or Kazakhstan. chains in the country. admits that depending on regions, the They can also change the menu based Subway Georgia is also optimistic. taste of a product can be tweaked. For on local habits, like Georgians’ long fast- “This year we have 15% growth com- example, the biggest bestseller of KFC, ing periods. “Accordingly, we already pared to last year, on average, which chicken wings, is little less spicy in have certain products to offer during makes us one of the leaders in our Georgia than it would be in any of the times of fasting, but we would like to network in central and eastern Europe,” Western European chains. increase this list,” KFC’s Neparidze said. Subway’s Givi Ordenidze said.

JUNE-JULY/2017 ‡ Investor.ge | 33 Georgian Ballet,

Yesterday and Today

and Vakhtang Chabukiani, two Georgian THOSE WHO HAVE LIVED IN GEORGIA EVEN FOR A dancers who gained worldwide popular- SHORT WHILE WILL SURELY HAVE NOTICED HOW ARTISTIC ity in the ‘30s. AND EXPRESSIVE THE GEORGIAN PEOPLE ARE. FOR With George Balanchine (1904– INSTANCE, IT IS HARDLY POSSIBLE TO EXPERIENCE A 1983), seen as the father of American GEORGIAN SUPRA DURING WHICH PEOPLE WON’T BE ballet and as the co-founder of the New SINGING OR DANCING. MUSIC AND DANCE SEEM TO BE York City Ballet, American ballet be- PROGRAMMED INTO THE GENES OF THIS NATION. MAYBE came what we know and see today. THIS IS WHY THIS COUNTRY HAS BROUGHT FORTH SO MANY Balanchine was born in St. Peters- EXCELLENT ARTISTS AND DANCERS. burg, Russia, and worked in Paris for the famous Sergei Diaghilev’s Ballets Russes before moving to the United TATJANA MONTIK grandpa. But, nevertheless, Georgia States. is the home country to several famous The Ballets Russes revolutionized eorgians love to dance. The dancers who shaped and reshaped the art classical dance by bringing into the fo- tradition of the Georgian dance of international classical ballet. cus the dancer’s movement, performed Gis centuries old. And classical The most outstanding ones are to accompaniment by commissioned ballet is a small child compared to this George Balanchine (Balanchinadze) works from avant-garde composers such

34 | Investor.ge ‡ JUNE-JULY/2017 as Igor Stravinsky, Claude Debussy, and celebrated the 100th anniversary of the chance to visit the United States and 6HUJHL3URNR¿HY9DNKWDQJ&KDEXNLDQL Georgian Ballet Art State School.” dance as invited artists with the New (1910–1992), is considered to be one of A former prima ballerina at the Mos- choreography, worked in the Soviet Republic of Geor- YHU\IXO¿OOLQJSURIHVVLRQDOOLIH³,QGDLO\ which differs a lot from the classical gia, and he revolutionized men’s dance life, I feel like Kitri, the main heroine in Russian ballet tradition. “It is all about and the role of men in classical ballet by Don Quichotte,” she says. “To complain another speed, another choice of music adding temperament, a Georgian trait, to is not my nature, nor can I stay sad for a and about another lexicography,” Nino classical works. long time.” Maybe there are these quali- explains. “In New York, people saw us as In order to learn more about ballet ties that give her momentum to continue guinea pigs. Will they manage to dance traditions in Georgia, I met with Nino with dance. Balanchine with their background in Ananiashvili, a Georgian dancer and a “Unlike the Russian ballet, which Russian ballet education?” It was then, living legend of the Georgian ballet, who was founded by the French choreogra- when she learned to value the Russian is now the art director of the Georgian pher Maurice Petipa, Georgian classical ballet school. “I did not expect it, but National Ballet Company. In 2016, she dance has its roots in the Italian ballet it was true. With our classical Russian was selected as one of 12 greatest balle- VFKRRO´1LQRH[SODLQV³7KH¿UVWEDO- ballet background, we could dance any- rinas of all time by the British newspaper let school in Georgia was founded by thing, and we could do it in such a way The Telegraph. At 54, she is also one of the Italian dancer Maria Perini, who that everybody would write about us.” the few ballerinas in the world who has had a ballet studio in Tbilisi located in While talking about ballet, her life- continued dancing after her glorious 35 the building of today’s Art Academy. long passion, Nino frequently mentions years on the stage, providing a living Vakhtang Chabukiani graduated from her teacher, the Bolshoi Theater ballerina example of vivid artistic beauty for her this ballet studio in 1924.” Raisa Struchkova, whom she warmly students and the audience. Only one of her many dreams could calls her “ballet mom.” “Ms. Struchkova I walk into the side-entrance of not come true, she regrets. She always was not only a great ballerina, but she the building of the National Georgian wanted to meet her famous countryman, was an incredibly good teacher. She let 7KHDWUHIRU2SHUDDQG%DOOHW¿OOHGZLWK George Balanchine. “Who knows how me into so many small dance secrets only several historic rooms. my life would have developed, if I had a real master can know. She guided me ,ZDLWIRU1LQRLQKHURI¿FHDQGVKH met him and learned from him one day?” HYHU\ZKHUH:KHQ,¿UVWFDPHEDFNWR enters the room, approaching me in a she asks. Tbilisi to dance in Don Quichotte, she ac- vivid, cheerful way. When I stay close to “Unfortunately, Balanchine’s ballets companied me in order to support me and KHUIRUWKH¿UVWWLPH,DPFRQTXHUHGE\ were not staged in the Soviet Union dur- to “protect” me from too much supra-ing, her gazelle-like eyes, which remind me ing the Soviet period. In Balanchine’s the Georgian traditional endless feasting, of the eyes of a child: curious, open, full innovation, the tradition of socialist re- and from the excessive company of well- of life and ideas. And so she immediately alism saw only formalism. And besides, meaning friends and relatives.” puts me at ease with her personality. we Soviet dancers of the Bolshoi Theater Echoing her mentor, Nino has a Nino is a sparkling woman in real had no chance to work directly with great “mom’s” role for her own students now. life, not just on the stage. She looks and contemporary choreographers. All bal- She has become a passionate teacher. moves like a teenager girl, tender and lets we performed were staged by Yuri In 2004, she was invited by the then- slim, and incredibly enthusiastic. Grigorovich, the art director of the Bol- Georgian President Mikhail Saakashvili Nino presents to me a book docu- shoi Theater who dominated the Soviet to revive the Georgian ballet. This is how menting generations of Georgian ballet ballet scene for 30 years, and they had to the former prima ballerina became the art dancers, which she recently helped to be in the choreography of Maurice Petipa director of the Georgian National Ballet write and publish. We leaf through the or in Grigorovich’s own interpretation.” Company. “When we returned to Tbilisi, beautifully restored and reprinted photos It was only much later, in the begin- the country’s economy was still in dire as she points out that she felt this book ning of perestroika, that Nino and her straits. At the opera theater, there weren’t needed to be published. “Last year we dance partner, Andris Liepa, had the even proper toilets or changing rooms.

JUNE-JULY/2017 ‡ Investor.ge | 35 All artists there at that time where work- bukiani’s choreography. The Georgian ing out of pure enthusiasm,” Nino says. dance company is also working on one Last year, after six years of profound of August Bournonville’s rare ballets, renovation, the Georgian National Opera “From Siberia to Moscow.” Nino shares and Ballet Theater reopened. a secret: “In this ballet, I will stage one ,QKHU¿UVWVL[\HDUVDVDQDUWGLUHFWRU Georgian national dance, performed by despite all the hardships, Nino staged our young dancers, which was not in the 27 ballets. “We knew that our Theater initial script. I am sure the audience will for Opera and Ballet would soon be love it. You cannot cheat your genes.” closed for renovation, so we had to work Nino Ananiashvili feels close to the hard.” During the renovation the artists national Georgian dance tradition. For performed on other stages, such as the the anniversary of Vakhtang Chabukiani, Russian Griboedov Theater and some- she danced the Lezginka. Afterward, times the Rustaveli Theater, but mostly for the last anniversary of the Sukhish- without the orchestra. vili Dance Company, she performed the In the thirteen years of her career as Georgian dance ilouri. an art director, Nino has raised a splendid Toward the end of my long conver-

Nino Ananiashvili generation of young “baby-ballerinas”: sation with Nino, I ask her what dance Nutsa Chekurashvili, Nino Samadash- means to her. She says, without any hesi- vili, and Katerina Surmava. When Nino tation, “Classical dance is my life. But to Ananiashvili talks about “her girls,” she live this life each day you have to start says proudly, “They can easily perform from zero, from the basics. First posi- both the modern and the classical dance, tion, grand batman, demi-plié, battement and they can switch between them tendu for your whole life. There is no smoothly.” Several foreign dancers have other profession like this in the world.” joined the Georgian Ballet Company. She admits to being a happy woman They come from Italy, England, Japan, too, as not only her job has become her Holland, Belgium, the United States, vocation but also because her husband, and even from Peru and Brazil in order Grigol Vashadze, who was Minister of to work with and learn from one of the Foreign Affairs in Saakashvili’s gov- great ballerinas of all times, Nino Ana- ernment, has been her greatest fan and niashvili. supporter for 29 years. Nino declares classical dance as the “He has seen my ‘Swan Lake’ 150 vocation of her life, and she would like times. He has learned everything about George Balanchine to introduce to her students the tradition ballet terminology, and he has almost of the Georgian choreographer Vakhtang not missed a single performance I was Chabukiani. He not only brought new in. My teacher, Raisa Struchkova, was challenges into men’s dance, but also so right when she once told me, ‘Re- started to stage classical ballets with member, my girl, all your memorabilia elements of Georgian dance. means nothing unless you have found a Nino recently revived Chabukiani’s soul mate who supports and understands version of “Gorda,” a two-act ballet by you.’” the Georgian composer David Toradze, 6KHKDVDIXO¿OOLQJOLIHVKHORYHV which first premiered in 1949 at the traditions, but, nevertheless, she is not Georgian National Opera and Ballet closed to innovation. With Nino Ana- Theater. And in 2018, she would like to niashvili, the glorious Georgian ballet

Vakhtang Chabukiani stage the ballet “Laurencia” with Cha- seems to have great future prospects.

36 | Investor.ge ‡ JUNE-JULY/2017 to think and act outside the box, making new contacts and seek- From the Archives: ing professional values. Many if not most of my peer trainers and VWXGHQWWUDLQHUVKROGVLJQLÀFDQWSRVLWLRQVLQYDULRXVÀHOGVRIZRUN WRGD\%XWWKHPRVWH[FLWLQJIDFWLVWKDWZHÀQGVRPHRIRXUKLJK THE POWER OF MENTORS VFKRROWUDLQHHVDPRQJVXFFHVVIXOODZ\HUVWRRµVKHVDLG ´)RUEHWWHURUZRUVHXQOLNHP\SHHUDQGVWXGHQWWUDLQHUV,IRO- ELEVEN YEARS AGO, A MENTORING PROGRAM, STREET lowed the path of teaching. Thanks to the ABA I was able to meet LAW, AIMED TO TEACH HIGH SCHOOL STUDENTS ABOUT Professor Richard L. Roe – the actual founder of the Street Law THEIR CIVIC RIGHTS. INVESTOR.GE COVERED THE Clinic at Georgetown University Law Center. I became completely PROGRAM IN A FEATURE ABOUT JUDICIAL REFORMS, empowered by the idea of teaching and learning and this is why, USING IT AS AN EXAMPLE OF A NEW WAY TO TEACH DIWHU\HDUV,DPVWLOOSDVVLRQDWHDERXWWHDFKLQJµ PEOPLE THEIR RIGHTS. IN REALITY, HOWEVER, IT The program also inspired Papiashvili, who went on to become ACCOMPLISHED MUCH, MUCH MORE: THE PROGRAM a lawyer, to become a mentor in a Street Law program. INSPIRED A YOUNG MAN TO BECOME A LAWYER – AND A MENTOR. AND IT INSPIRED A YOUNG LAWYER TO ´7ZR\HDUVDJR,KDGDFKDQFHWREHDWUDLQHUXQGHUDOPRVW TEACH. the same program organized by the Tbilisi State University – I could not refuse the chance and I joined the program. We were talking about everything in group – not only about law, we were trying to n 2006, the American Bar Association started teaching high develop our skills of socializing, arguing, group work and mutual school students in Tbilisi about their civic rights. Among the respect. I am proud that I have been on the both sides – as a Itrainers was a young lawyer, Ketevan Iremashvili, and among WUDLQHHDQGDVDWUDLQHUµKHVDLG the high schoolers there was 15-year-old Aleksandre Papiashvili. ´7KHVHW\SHVRISURJUDPVDUHQRWDERXWDQ\VSHFLÀFVXEMHFWRU For Iremashvili, the program had been a chance to think discipline; this is about experience sharing, socializing and certain DERXWODZ´RXWVLGHWKHER[µDQGZRUNRQFRPPXQLFDWLRQVNLOOV skills. I would say that these types of programs are as important For Papiashvhili, it had been a chance to take a challenge as other basic subjects that we have in schools, because it helps and learn more about law, his older sister’s profession -- (and XVWREHPRUHRSHQDQGWRGHYHORSEHWWHUµ spend time with a cute girl who had signed up).

In the end, though, the clinic gave them much, much more. ADVERTISEMENT

EYE-OPENING EXPERIENCE Papiashvili credits the program with opening his eyes to a completely different type of learning. ´,WZDVXQIRUJHWWDEOHKRXUVDQGGD\VRILQQRYDWLRQVRFLDOL]LQJ group work and fun – it was totally different from the lessons we had before – it was not a Soviet-style lesson with the Soviet-style teachers – it was something different, something new and we liked it – we did not have homework but we studied a lot; we did not have books but we were reading a lot, we had no scores but still ZHZHUHH[WUHPHO\PRWLYDWHGµKHWROGInvestor.ge ´7KHVHFODVVHVEHFDPHYHU\LPSRUWDQWIRUPHLWZDVQRWMXVW a next challenge for me – now it was passion, interest and goal. 6RPHWLPH,HYHQIRUJRWDERXWP\VZHHWKHDUWµ

INSPIRATION TO LISTEN, LEARN AND TEACH Iremashvili, who went on to defend her PhD in Legal Teching Methodolgy, said the program taught her how to listen – and the value of different opinions. ´,OHDUQHGWKDWOLVWHQLQJLVDNH\WRVXFFHVVERWKLQWKHOHJDO profession and in life. We as trainers tried to demonstrate the skill of listening while carefully listening to our peers and trainees. While listening to our trainees (ages between 13-16) we discovered lot RIFUHDWLYHORJLFDODQGZHOOMXVWLÀHGVROXWLRQVDQGORWVRIYDOXDEOH questions from them. So I learned I have to release myself from ELDVDQGDVVHVVDQ\QHZRSLQLRQDVDQRSSRUWXQLW\µVKHVDLG She continued teaching Street Law at Tbilisi State Law Faculity, where she ran the Street Law Clinic. Evntually she taught Street Law to Master’s Students. Eventually, she became a Master Trainer in Legal Teachings Methodology and went on to coach student teams at various national and international competitions. ´6WUHHW/DZZDVDQLQFUHGLEOHSURMHFWDOORZLQJODZVWXGHQWV NEWS

CONTENT

AmCham Hosts 39 Parliament Chairman

39 AMCHAM PRESIDENT PRESENTS 42 MEMBER FEATURE: SDSU GEORGIA AMCHAM’S OVERVIEW OF GEORGIA’S ECONOMIC 43 MEMBER PROFILE: PASHA BANK ENVIRONMENT 44 NEW MEMBERS 40 SARAH WILLIAMSON SPEAKS AT THE AMBASSADORIAL FORUM 46 MEMBER DIRECTORY HOSTED BY THE U.S. EMBASSY 50 SOCIAL: AMCHAM COCKTAIL 40 AMCHAM HOSTS MAYOR DAVID RECEPTION AT LOLITA BAR NARMANIA 51 SOCIAL: AMCHAM COCKTAIL 41 WORLD BANK, IFC AND EBRD RECEPTION AT BETSY’S HOTEL HEADS MEET AMCHAM MEMBERS

38 | Investor.ge ‡ JUNE-JULY/2017 NEWS

AMCHAM HOSTS PARLIAMENT CHAIRMAN

AmCham hosted Irakli Kobakh- idze, the Chairman of the Parliament of Georgia, at a monthly roundtable at at Courtyard Marriott Hotel on May 15. Kobakhidze discussed proposed consti- tutional amendments. His presentation was followed by dynamic Q&A between AmCham members and the Chairperson.

AMCHAM PRESIDENT PRESENTS AMCHAM’S OVERVIEW OF GEORGIA’S ECONOMIC ENVIRONMENT

AmCham President Michael Cow- gill presented AmCham’s overview of Georgia’s economic environment at the San Diego Chamber of Commerce on April 28. This presentation was part of a meet- ing between the San Diego Chamber of Commerce, Georgian government of- ¿FLDOVDQG*HRUJLDQEXVLQHVVOHDGHUVWR discuss future partnership opportunities and the favorable investment climate in the country of Georgia. The event was attended by the Mayor of Tbilisi, David Narmania; the Georgian Ambassador to the U.S., David Bakradze;, the Millennium Challenge Corporation Acting CEO, Jonathan Nash; as well as representatives of San Diego State University, Millennium Challenge Account – Georgia, Am- Cham, the San Diego regional Chamber of Commerce, the World Trade Center and the Georgian and American business communities.

JUNE-JULY/2017 ‡ Investor.ge | 39 NEWS

SARAH WILLIAMSON SPEAKS AT THE AMBASSADORIAL FORUM HOSTED BY THE U.S. EMBASSY

AmCham Georgia Vice-President Sarah Williamson spoke at an Ambas- sadorial Forum hosted by the U.S. Embassy on April 29. The Forum aimed to celebrate the 25 years of diplomatic relations between the United States and Georgia. Keynote speakers included President Giorgi Margvelashvili and Prime Minister Giorgi Kvirikashvili. :LOOLDPVRQVSRNHDWWKH¿UVWVHVVLRQ moderated by Ambassador Ian Kelly, en- titled “Democratic Statecraft for Security and Prosperity, Point of Irreversibility.” Foreign Minister Mikheil Janelidze and former U.S. Ambassador to Georgia Richard Miles were also on the panel. The second panel, entitled “Securing Democracy and Prosperity – Joint Fight for Freedom,” was moderated by Am- bassador Batu Kutelia, and included as panelists former U.S. Ambassador to Georgia William Courtney, former Am- bassador to Georgia Kenneth Yalowitz, Ambassador Tedo Japaridze, and former Foreign Minister Irakli Menagharishvili.

AMCHAM HOSTS MAYOR DAVID NARMANIA

AmCham Georgia hosted a members- only luncheon with the Mayor of Tbilisi, David Narmania, on April 19 at the Tbilisi Marriott Hotel. The Mayor gave a presentation about Tbilisi City Hall’s accomplishments and initiatives for stimulating investment growth in the city. Narmania highlighted major projects that City Hall plans to implement in the upcoming years. The presentation was followed by a lively Q&A session be- tween members and the Mayor.

40 | Investor.ge ‡ JUNE-JULY/2017 NEWS

WORLD BANK, IFC AND EBRD HEADS MEET AMCHAM MEMBERS AmCham hosted a monthly roundtable Central Asia at the World Bank; and Jan meeting at the Radisson Blu Iveria Hotel Van Bilsen, Regional Manager of the on April 11. South Caucasus at IFC talked about the role of IFIs, which are major sources A panel of the heads of International RIÀQDQFHWHFKQLFDODVVLVWDQFHDQG Financial Institutions (IFIs) discussed their knowledge sharing in Georgia. activities in Georgia. The presentation was followed by dynamic Q&A session between AmCham Bruno Balvanera, Director for the members and the panelists. New Caucasus, Moldova and Belarus at the members were recognized: a Corporate EBRD; Mercy Tembon, Regional Director $0HPEHU*OREDO%HQHÀWV*HRUJLDDQG for the South Caucasus: Armenia, D1RQ3URÀW0HPEHUWKH*HRUJLDQ5HG Azerbaijan and Georgia, Europe and Cross Society.

JUNE-JULY/2017 ‡ Investor.ge | 41 NEWS

IMPACT ON GEORGIAN EDUCATION SYSTEM SDSU GEORGIA: STEM students, wherever they study, have to prepare to do jobs “that don’t Preparing Students for the Future exist today and they need skills that we GRQ¶WNQRZWKH¿UVWWKLQJDERXW´:DOVK Job Market said. To prepare students for the future, INVESTOR.GE SPOKE WITH KEN WALSH, THE DEAN OF SAN universities have to teach them how to DIEGO STATE UNIVERSITY GEORGIA, ABOUT THE UNIVERSITY’S learn – and they have to listen to the ´*(25*,$'$<6µ(9(17$77+(6$1',(*2&$0386$1' HOW THE UNIVERSITY IS HELPING ITS STUDENTS, AND GEORGIA’S SURIHVVLRQDOVLQWKH¿HOGDERXWWKHVNLOOV HIGHER EDUCATION SYSTEM, PREPARE A NEW GENERATION OF new graduates need. SCIENTISTS. SDSU Georgia is working with its partner universities to create curricula Good relations and open communica- gest bio tech hub in the United States,” that responds to that challenge, and meets tion between universities and the busi- Walsh said. US accreditation standards. ness community have helped San Diego “That grew out just from this type of “The SDSU programs here are really State University prepare graduates who collaboration. That is a reason why we a vehicle for the improvement of the are ready for the job market, San Diego focus on the biotech industry and it is curriculum and facilities at our partner State University Georgia Dean Ken also the reason why we know the SDSU universities. Walsh told Investor.ge. Georgia project can work. People say, About half of our total curriculum “I think a hallmark of San Diego ‘Well there is no employment today for hours are actually taught by our Georgian State University is our interconnected- WKHVH67(0¿HOGVLQ*HRUJLD¶7KHUH faculty who have been to the United ness in the business and civic climate of was no employment for biotech in San States for several weeks to work in our San Diego,” he said. Diego either but if you can generate the laboratories and train with our faculty He said that San Diego State Univer- work force, if you know the industry, and develop and understanding of our sity Georgia decided to organize a three- they will come. We wanted to give people curriculum and faculties and then come day “Georgia Days” event in California the chance to see that.” back,” he said. where a delegation from Georgia could “We are also working with them to see the relationship in action. GROWING STUDENT BODY develop new curricula and self-studies “We thought it would be very valu- The Georgia Day event also provided that they will be submitting for accredita- able for the members of our advisory a chance for the university to educate tion in the United States.” committee and others from the business students at the California campus about Accreditation is a key piece of the and civic community in Georgia to just the program in Tbilisi. puzzle, and, based on the US method, JHWDFKDQFHWRVHH¿UVWKDQGKRZWKDW San Diego State University Georgia that involves tapping into the wisdom of operated,” he said. offers STEM students a rare chance working professionals and professional to study abroad without falling behind associations as part of the accreditation CREATING SUPPLY because students can attend the same process. The three-day event was also a classes – sometimes even with the same Walsh noted that many people do chance to show the Georgian delegation professors – and benefit from newer not realize the US government is not how San Diego State University was able facilities and smaller classes, he said. involved in accrediting universities. to work with the business community to “We had 12 spots for students to go “That is our model in the United transform the local economy, he said. back and forth last fall and, as it worked States and that is what we are helping “San Diego was not on the map as out, we had 10 students from the US people to understand. Now Georgia has abiotech hub [in the 1990s]. Fast-forward come here and seven students from WR¿QGZD\VWRGRWKDWWKDWZRUNLQWKH to today and San Diego and Boston are Georgia go there,” he said, adding more Georgian reality and we are trying to be always battling over which is the big- are expected next year. a part of that process,” he said.

42 | Investor.ge ‡ JUNE-JULY/2017 NEWS

the topic being “Sustainable Energy De- velopment in Georgia - Case for Hydro MEETING ROOM - Power Plants.” The conference was supported by the A Cycle of Business Conferences by Ministry of Energy of Georgia, Electric- ity System Commercial Operator and PASHA Bank Georgian National Energy and Water Regulatory Commission. MEETING ROOM is a cycle of busi- project - MEETING ROOM. In the The MEETING ROOM brought ness conferences by PASHA Bank that scope of this project, PASHA Bank will together a diverse group of players from aims to bring together participants from be organizing and hosting a cycle of con- public and private sectors to discuss ma- various industries, providing a platform ferences focused on various industries. jor issues concerning sustainable energy for sharing ideas and best practices as it Since 2013 we have been serving a wide development in a country where a major- relates to raising the capital for various range of business sectors in Georgia and ity of the electricity consumed is gener- projects in respective industries. hospitality is one of them. PASHA Bank ated by Hydro Power Plants. The MEET- The first business conference of intends to contribute to the development ING ROOM covered, among others, the MEETING ROOM took place in Radis- of this business, as we clearly see its following topics: energy policy, tariff son Blu Iveria Hotel on May 25th, 2016, advantages to the economy of Georgia. setting, power purchase agreements, with the topic being “Hotel Develop- Our vision is to actively participate YDULRXVFRXQWU\VSHFL¿FFKDOOHQJHVIRU ment in Georgia – The Best Practices”. in the growth and development of the JUHHQ¿HOGK\GURSURMHFWGHYHORSPHQW The conference was supported by Georgian and regional economy through available financing schemes and key Georgian National Tourism Administra- the funding of value-accretive projects,” UHTXLUHPHQWVIRU¿QDQFLQJ+33V tion and Colliers International. It covered said Shahin Mammadov, CEO and Chair- The presentations were delivered by the following topics: Overview of the man of the Board of Directors at PASHA the following speakers: Hospitality Field, Trends and Expecta- Bank Georgia. Mariam Valishvili - Deputy Minister, tions by Georgian National Tourism “It is of major importance to get the Ministry of Energy of Georgia Administration, International Operator private sector involved in the devel- Keti Sandroshvili - Head of Interna- ,GHQWL¿FDWLRQDQG&RQWUDFWLQJIRU+RWHO opment of hospitality business in our tional Relations & Investments Depart- Management, The Requirements for country, as each month the number of ment at Electricity System Commercial Financing Hotel Projects and the Avail- visitors to Georgia grows intensely and Operator (ESCO) able Tools. lots of new hotels appear. The mutually Giorgi Pangani - Commissioner, Geor- The presentations were delivered by EHQH¿FLDOFRRSHUDWLRQZLWKWKHEXVLQHVV gian National Energy and Water Regula- following speakers: sector is the main reason why National tory Commission George Chogovadze, Head of Georgian Tourism Administration supports MEET- Goga Japaridze - CCO, Member of the National Tourism Administration ING ROOM. It should be noted that Board of Directors at PASHA Bank Mark Finney, Head of Hotels & Resorts within January-April about 1,596,916 Radoslav Dudolenski - Chief Execu- Consulting at Colliers International | UK tourists visited Georgia and the growth tive, Hydrolea 2I¿FH compared to the same period of last Giorgi Abramishvili - Managing Part- Goga Japaridze, CCO, Member of the year is more than 15.4%. By the end of ner, Energy Solutions Board of Directors at PASHA Bank 2017 more than 80 hotels are planned Ronny Solberg - CEO, Adjaristsqali Goga Kapanadze, CEO at Axis to be built in Georgia,” said Mr. George Georgia LLC Konstantin Megrelishvili, Business Chogovadze, Head of Georgian National Development Director at Alliance Group Tourism Administration. In 2017 PASHA Bank plans to hold The meeting was moderated by On December 6th, 2016 in Radisson two more business conferences under the George Sharashidze, Publisher & Gener- Blu Iveria Hotel PASHA Bank hosted auspices of MEETING ROOM, with the al Manager at newspaper Georgia Today. its second business conference under ¿UVWRQHWREHKHOGLQ-XQHFRYHULQJWKH “I’m happy to introduce our new the auspices of MEETING ROOM with healthcare industry.

JUNE-JULY/2017 ‡ Investor.ge | 43 NEWS

Conformity Assessment Food TV Geo LLC Gazelle Finance Georgia LLC International (CAI) LLC Corp A Corp A Corp A CA International is a third party con- Food TV Geo is a nationwide cable Gazelle Finance Georgia provides formity assessment and inspection body Television channel, which offers original growth-oriented risk capital to fast grow- accredited by the LEPL Georgian Ac- entertainment and educational program- LQJ 60(V NQRZQ DV ´JD]HOOHVµ LQ *HRU- creditation Center (GAC), the official ing as it relates to and supports the food gia). Gazelle Finance Georgia is part accreditation body of Georgia. and beverage industry. Food TV Geo also of a larger Gazelle Finance investment Since receiving accreditation in Oc- SURYLGHVWUDLQLQJLQWKHDUWRIÀQHFRRNLQJ fund (launched in March 2017, currently tober, 2016 CAI has become a leader in www.foodtvgeo.com capitalized at $28 million but expected to inspection activity in Georgia and scope www.facebook.com/FOODTVGEO/ expand) that will invest in SMEs the Eurasia of services covers oil repositories, oil region. Gazelle Finance’s high transaction pipelines, natural gas pipelines, natural YROXPH VHOIOLTXLGDWLQJ ´PH]]DQLQHµOLNH gas compressor stations, fueling stations ÀQDQFLQJSURGXFWLVWDLORUHGIRUIDVWJURZ- using liquid carbohydrate gasses, liquid ing SMEs. The fund makes investments to oxygen production facilities, commercial DFKLHYHFRPPHUFLDOÀQDQFLDOUHWXUQVEXW nitrogen refrigeration installations, cranes, by focusing on promising SMEs with high escalators, amusement parks, pressure growth potential operating in value-add vessels, boilers, the Funicular, cable cars sectors such as agribusiness, manufactur- and elevators. ing, and services, the fund also expects to www.ca.international play a role in driving Georgia’s economy forward through revenue generation, job creation, export expansion, import substi- tution, and other means. Gazelle Finance’s investors include FMO (Dutch develop- ment bank), Dutch Good Growth Fund (DGGF), partnership Fund (Georgia’s sov- ereign wealth fund), and the U.S. Overseas Private Investment Corporation (OPIC). ZZZJD]HOOHÀQDQFHFRP gazelle NEW MEMBERS

44 | Investor.ge ‡ JUNE-JULY/2017 NEWS NEW MEMBERS

Office Technologies Biltmore Hotel Tbilisi Regus, Georgian Branch, Tbilisi Corp A Corp B Business Center Corp B Office Technologies is the leading The Biltmore Hotel is ideally situated Regus is the world’s largest provider VSHFLDOLVW LQ RIÀFH GHVLJQ SURMHFW PDQ- within the historic and cultural district of of flexible workspace solutions, with DJHPHQW DQG RIÀFH IXUQLWXUH VXSSO\ LQ Tbilisi. Close to the east bank of Mtkvari customers including some of the most Georgia. Using in-depth knowledge of River, this hotel is suitable for both business successful entrepreneurs, individuals and ZRUNDQGZRUNSURFHVVHVWHDPRI2IÀFH and leisure travellers. The grand lobby multi-billion dollar corporations. Regus Technologies makes a meaningful and echoes the nostalgia of a bygone era, network includes almost 3000 business measurable contribution to the success with an immaculately restored grand centers, spanning almost 900 cities across of its customers. Founded in 2005 it has lobby that resonates the glamour and FRXQWULHV7KURXJKWKHUDQJHRIRIÀFH FRQWLQXRXVO\ GHYHORSHG DQG GLYHUVLÀHG prestige of the social elite and transports formats, as well as company’s growing the range of services becoming a reli- guests into an envelope of luxury, unseen PRELOHYLUWXDORIÀFHDQGZRUNVSDFHUH- able partner of many international and or experienced by others before. 214 covery businesses, Regus Enables people local companies. The company is the luxury rooms and suites provide free high- and businesses to work where they want, authorized dealer of Steelcase in Georgia, speed wireless Internet, upscale bathroom when they want, how they want, and at $PHULFDQ FRPSDQ\ DQG ODUJHVW RIÀFH amenities and beautiful views of the city. a range of price points. furniture manufacturer in the world. With distinct lifestyle and dining venues Regus 1st centre in Georgia is located As a work effectiveness company, our and a one-of-its-kind entertainment in the very heart of the capital, the Free- mission is to help organizations work more arena, this property is the only address for dom Square. Tabidze 1 Building, 2 Leonidze effectively by improving the quality of glamorous lifestyles. An urban retreat for VWWKÁRRU their work environment. Turning ordinary the privileged few or the ideal partner for UHJXVFRP RIÀFHLQWRHIIHFWLYHRIÀFHVSDFHFUHDWLQJ those conducting business in the city, The atmosphere of comfort and convenience, Biltmore Hotel Tbilisi is the ultimate address ZHWDNHFDUHWKDWRIÀFHEHFRPHVLQVSLULQJ for discerning travellers. where people can do their work effec- ZZZPLOOHQQLXPKRWHOVFRPHQWELOLVL tively and with pleasure. WKHELOWPRUHKRWHOWELOLVL ZZZRIÀFHWHFKQRORJLHVJH

Mr. Tyler Green Individual Member International development profession- al working mainly in the area of agriculture DQG PLFURÀQDQFH FRQVXOWLQJ &XUUHQWO\ works at Business and Finance Consulting.

JUNE-JULY/2017 ‡ Investor.ge | 45 AmCham Company Members as of June 2017

PATRON MEMBERS BHP International Deloitte Georgian American University 2I¿FHUG)ORRU 36a, L. Asatiani St., 0105 8 Aleksidze St. 2 Baratashvili St. Tel: 2244566; Fax: 2244569 Tel: 2206520; Fax: 2206519 Tel: 2103207 www.deloitte.ge www.gau.ge BP Exploration Georgia www.bhp-int.com 24, S. Tsintsadze St. Tel: 2593400 GMT Group www.bpgeorgia.ge Diplomat Georgia 4 Freedom Square British American Tobacco 65, Kakheti Highway Tel: 2988988; Fax: 2988910 71 Vazha Pshavela Ave. Tel: 2984950 www.gmt.ge Tel: 2157500/01/02; Fax: 2157503 www.diplomat.ge KPMG Georgia LLC www.bat.com 3rd Floor, Besiki Business Center, Gosselin Mobility Georgia 4 Besiki St., 0108 3 M/D, Didi Digomi Tel: 2935713; Fax: 2982276 DLA Piper Georgia LP Tel: 2596601/02/03; Fax: 2596600 www.kpmg.ge 10 Melikishvili St. www.gosselinmobility.eu Budget Rent a Car - Otokoc Tel: 2509300; Fax: 2509301 Georgia LLC www.dlapiper.com 37 Rustaveli St. Grant Thornton LLC PricewaterhouseCoopers Tel: 2234122 61 D. Aghmashenebeli Ave. 7 Bambis Rigi St., 0105 www.budget.com.ge Tel: 2604406 Tel: 2508050; Fax: 2508060 EY Georgia www.grantthornton.ge www.pwc.com 44 Kote Abkhazi St. Tel: 2439375; Fax: 2439376 Caucasus University www.ge.ey.com Greco Group .RVWDYD6W%OGWKÀ 1 Nutsubidze St. UGT Tel: 2377777; Fax: 2313226 Tel: 2393138; Fax: 2311107 D&KDYFKDYDG]H$YHWKÀRRU www.cu.edu.ge www.greco.ge Tel: 2220211; Fax: 2220206 www.ugt.ge F H Bertling Georgia Ltd. Room 3, 4th Floor, GT Group 154 Agmashenebeli Ave. 48 B. Cholokashvili St. Chemonics International Tel: 2252287 Tel: 2740740 5, 2nd Blind Alley, Chavchavadze St. www.bertling.com Tel: 2234311; Fax: 2234309 www.gtgroup.ge www.chemonics.com CORPORATE A MEMBERS GULF Georgia FINCA Bank Georgia by Sun Petrolium Georgia LLC 9D]KD3VKDYHOD$YHUGÀ Pixel Business Center, AECOM Georgia LLC Tel: 2244949 Colliers International 34 Chavchavadze Ave. 34, Chavchavadze Ave. Georgia LLC ZZZ¿QFDJH Tel/Fax: 2496444 Tel: 555603200 37/39 Kostava St., www.gulf.ge www.aecom.com Grato Business Center 7th Floor Tel: 2224477 www.colliers.com Food TV Geo LLC Hilton Batumi Alliance LLC 45b. M. Kostava St. 13 Takaishvili St., Batumi 135 King Parnavaz St., Batumi Tel: 2931570 Tel: 292092 Tel: 591555757 www.foodtvgeo.com www.hilton.com www.alliancegroup.ge Conformity Assessment International (CAI) LLC 8 Politkovskaya St., 1086 Iberia Refreshments, JSC Alliance Group Holding, JSC Tel: 595690008 Frontera Resources Georgia Tetri Khevi Hesi District, Orkhevi 47/57 M. Kostava St., 0179 www.ca.international 12 Paliashvili St. Tel: 2241091; Fax: 2241090 Tel: 2424181; Fax: 2998112 Tel: 2252412 www.pepsi.ge www.agh.ge www.fronteraresources.com

IMSS Ltd. American Medical Centers, Construction Service LLC 10a Bakhtrioni St. Gazelle Finance Georgia LLC Georgia 2 Gen. Mazniashvili St., Rustavi Tel: 2920928 2I¿FH1LNR1LNRODG]H6W 11 D. Arakishvili St., Tbilisi Tel: (599)500559 www.imss.ge Tel: 2904304 Tel: 2500020 www.cs.ge ZZZJD]HOOH¿QDQFHFRP 114, Gorgiladze St., Batumi Tel: (+995 32) 250 00 77 Kartlos Group www.amcenters.com 20 Ushangi Chkheidze St., 0102 Tel: 599540893 &XVKPDQ :DNH¿HOG*HRUJLD General Electric www.kartlosgroup.com WKÀRRU%ORFN 5th Floor, Pixel Bulding, Avon Cosmetics Georgia LLC 71 Vaja-Pshavela Ave. 34 Chavchavadze Ave. 117 Tsereteli Ave. Tel: 2474849 Tel: 2259516 / 2259505 Kavkaz Cement JSC Tel: 2226805; Fax: 2226806 ZZZFXVKPDQZDNH¿HOGJH www.ge.com 29 Andronikashvili St., 0189 www.avon.com Tel: 2619090 www.kavkazcement.ge

Betsy’s Hotel / Prosperos Books Dechert Georgia LLC Georgian American Alloys, Inc. 32/34 Makashvili St. / WKÀRRU3L[HOEXLOGLQJ 200 S Biscayne Blvd Suite 5500, Maersk Georgia LLC 34 Rustaveli Ave. 34 Chavchavadze avenue Miami FL 33131 USA 6 Khetagurov St. Tel: 2987624, Fax: 2923592 Tel: 2334719 Tel: (1)3053757560 Tel: 2200800; Fax: 2200815 www.betsyshotel.com www.dechert.com www.gaalloys.com www.maerskline.com

46 | Investor.ge ‡ JUNE-JULY/2017 Marriott Hotels, Resorts & Suites Ronny’s Ltd. Air Astana Airlines JSC %/&/DZ2I¿FH 13 Rustaveli Ave. 3 Apt., 3 Vazha-Pshavela Ave. 5th Floor, Pixel Business Center, 4 Gudiashvili Sq. Tel: 2779200; Fax: 2779210 Tel: 2472472 34 Chavchavadze Ave. Tel: 2922491; Fax: 2934526 www.marriott.com www.ronnyspizza.com Tel: 2514999 www.blc.ge www.airastana.com

Meridian Express Savaneti 99 Ltd. 15-17 Ketevan Tsamebuli Ave.0103 BMC Gorgia Vilage Savaneti, Bolnisi Region Aliance Georgia Ltd Tel: 2745188 140 Tsereteli Ave. Tel: 2605599 33 Samurzakano St. www.ups.com Tel: 2243773 Tel: 2960960 www.groupaliance.com www.gorgia.ge

Microsoft Georgia LLC SEAF Management LLC 7, Niko Nikoladze St. II Floor. 34 Chavchavadze Ave. Aversi Pharma Tel: 2998115; Fax: 2923533 CaspiGroup Ltd. Tel: 2970123 148/2 Aghmashenebeli Ave. www.seaf.ge 29 Bochorma St. www.microsoft.com Tel: 2987860 Tel: 2550818 www.aversi.ge www.caspigroup.com

M & M - Militzer & Munch Sheraton Metechi Palace Hotel Georgien, FedEx GSP 20 Telavi St. Baker Tilly Georgia Ltd. 39 Ketevan Tsamebuli Ave. Tel: 2772020; Fax: 2772120 Meidan Palace, 44 Kote Abkhazi St. Tel: 2748240, 2748941 Caucasus Online LLC www.sheraton.com/tbilisi Tel: 2505353; Fax: 2505353 www.fedex.com/ge 71 Vazha-Pshavela Ave. www.bakertillyinternational.com Tel: 2000022 www.co.ge 2I¿FH7HFKQRORJLHV6WHHODVH SICPA Security Solutions Dealership Georgia Bank of Georgia 4 Freedom Sq., 0105 79 Chargali St., 0178 3 Pushkin St. Tel: 2999980, 2688229 Tel: 2434580 Tel: 2444134; Fax: 2983269 Channel Energy (Poti) Limited ZZZRI¿FHWHFKQRORJLHVJH www.sicpa.com www.bog.com.ge Georgia LLC, By Petrocas Energy Group 52, David Agmashenebeli St., Poti Tel: (995493) 2-7-08-60 Oracle Basel LLC T&K Restaurants (McDonald’s www.petrocasenergy.com $\D]D÷D0HYNLL0H\GDQ6RN Georgia) 49 Krtsanisi St. Spring Giz Plaza Kat:11 1 Dzmebi Kakabadze St. Tel: 2550110 Maslak, Istsnbul, Turkey Tel: 2921246; Fax: 2251422 www.krtsanisi.com Tel: 577500151 www.mcdonalds.ge www.oracle.com Château Mukhrani, J.S.C. Sangebro St. Basis Bank JSC Tel: 2201878; Fax: 2201878; 1 Ketevan Tsamebuli Ave. www.mukhrani.com Orient Logic Ltd. TBC Group Tel: 2922922; Fax: 2986548 8 Beliashvili St. 7 Marjanishvili St. www.basisbank.ge Tel: 2541818 Tel: 2272727; Fax: 2228503 www.orient-logic.ge www.tbc.com.ge Citi & Co. Batumi International Container 4 Besiki St. Terminal Tel: 2920921 PepsiCo Wimm-Bill-Dann TMC Global Professional 11, Baku Street, 6010, Batumi Village Ponichala, Tbilisi 0165 Services Tel: 422 276452 Tel: 2475290 6001 Indian School Road NE, Suite www.bict.ge www.wbd.ru 190, Albuquerque, NM 87110, USA Continent Cron Palace Tel: (1 505) 8723146 Hotel Tbilisi www.tmcservices.com BDO LLC 1 Kheivani St., 12/13 Philip Morris 2 Tarkhnishvili Str. Tel: 2242321 1 Tabidze St. Vere Business Centre, 0179 www.cronpalace.com Tel: 2439001; Fax: 2439005 Tel: 2545845; Fax: 2399204 www.philipmorrisinternational.com West Invest Ltd. 13a Lortkipanidze St. www.bdo.ge Tel: 2997275 www.west-invest.ge Crowne Plaza Borjomi ProCredit Bank Baratashvili Str. 9, 1200 Borjomi BGI Advisory Services Georgia 154 Agmashenebeli Ave. Tel: 995 367 220260 5XVWDYHOL$YH,,ÀRRU Tel: 2202222; Fax: 2202222-2226 www.cpborjomi.com Tel: 2997292; Fax: 2996615 www.procreditbank.ge Willis Towers Watson Ltd. www.bgi.ge 17 M. Lebanidze St. Tel: 2905509 Radisson BLU Iveria Hotel www.willis.com Crystal, MFO JSC 1 Rose Revolution Sq. Biltmore Hotel Tbilisi 72 Tamar Mepe St. Kutaisi, 4600 Tel: 2402200; Fax: 2402201 29 Rustaveli Ave. Tel: 431253343 www.radissonblu.com Tel: 2727272 www.crystal.ge http://www.millenniumhotels.com/en/ CORPORATE B MEMBERS tbilisi/the-biltmore-hotel-tbilisi/ Risk Management and Insurance &RPSDQ\³*OREDO%HQH¿WV Dio Ltd. Georgia” Adjara Group Hospitality BLB (Business Legal Bureau) 12th Km David Agmashenebeli Alley 7 Polikarpe Kakabadze St. 1, 26 May Sq., 0179 1 Shevchenko St, Apt.1 N3, Parsadani St. Tel: 2500001 Tel: 2300099 Tel: 2995797 Tel: 2361112 ZZZEHQH¿WVJH www.adjaragroup.com www.blb.ge www.dio.ge

JUNE-JULY/2017 ‡ Investor.ge | 47 AmCham Company Members as of June 2017

Domson’s Engineering Georgian Beer Company GTS Electronics Leavingstone 8a Sanapiro St. 3311 Saguramo, Mtskheta District 35 Moscow Avenue, 0137 12a Al. Kazbegi Ave. Tel: 2050303 Tel: 2437770 Tel: 2710800 Tel: 2105103 www.domsons.com www.geobeer.ge www.gts-el.com www.leavingstone.com

Gvinadze & Partners LLC Legal Partners Associated LLC Duty Free Georgia Georgian Express 44 Kote Abkhazi St, 0105 2I¿FH%HVLNL%XVLQHVV&HQWHU UGÀRRU%HVLNL6W 105, Tsereteli Avenue, 0119 4 Besiki St. 0108 Besiki Business Center Tel: 2438970, Fax: 2438971 Tel: 2696060 Tel: 2200203; Fax: 2250458 Tel: 2430150 www.gvinadzeandpartners.ge www.dhl.com www.lpa.ge www.dfg.ge

HeidelbergCement Georgia Liberty Bank JSC Georgian Hospitality Group Efes Brewery in Georgia - 18 Lermontov St. 74 Chavchavadze Ave. 22 Peritsvaleba St., 0103 Lomisi JSC Tel: 2474747 Tel: 2555500; Fax: 2912269 Tel: 2987789 Village Natakhtari, Mtskhta Region www.heidelbergcement.ge www.libertybank.ge www.ghg.ge Tel: 2357225 www.natakhtari.ge Herbalife Nutrition Luca Polare 54 Oniashvili St. Georgian Industrial Group LLC Bld. 4a Tamarashvili St., 0116 Tel: 2990399 GIG Plaza, 14 Gazapkhuli St., 0177 Tel: 2202929 Enviroserve Caucasus www.herbalife.com www.lucapolare.com [email protected] Tel: 2210187 www.enviroserve.ae www.gig.ge Maqro Food “Dinehall” Hualing International Special 28 Rustaveli Ave. Economic Zone Tel: 2001616 EVEX Medical Corporation Georgian Integrated Systems 25 Apt. 34/36 Kobuleti St. www.dinehall.ge 40 Vazha-Pshavela Ave. (GiS) Tel: 591005900 Tel: 2550505 2I¿FH$EDVKLG]H6W www.hualing.cn www.evex.ge Tel: 2243724 www.gis.ge Mercure Tbilisi Old Town 9 Gorgasali St., Old Tbilisi, 0105 Hydrolea LLC Tel: 2006060 ExpoGeorgia JSC 11 A. Apakidze St. www.mercure.com 118 Tsereteli Ave., 0119 Georgian Resources Company Tel: 790420015 Tel: 2341100 3-5 Kazbegi St. www.hydrolea.com www.expogeorgia.ge Tel: 2936676 Mgaloblishvili Kipiani Dzidziguri www.georgianresources.com (MKD) 2I¿FH9D]KD3VKDYHOD$YH ICS Ltd. TNT Agent in Georgia Tel: 2553880 Gebrüder Weiss LLC 25 Agmashenebeli Ave. www.mkd.ge Tel: 2910220 Airport Adjacent Territory, Geo Steel LLC www.tnt.ge Kakheti Hwy 36 Davit Gareji St., Rustavi, 3700 Tel: 2710011 Tel: 2243794 www.gw-world.com Mina JSC www.geosteel.com.ge 4 Besiki St. ILF Beratende Ingenieure ZT Tel: 2449981/82/83; Fax: 2449980 GmbH Branch in Georgia www.mina.com.ge Geocell 15 Tamar Mepe Ave. Globalink Logistics Group 3 Gotua St. Tel: 2199453 60 Sh. Nutsubidze St., 0186 Tel: 2770100, ext. 7435; www.ilf.com Mira Hotels Ltd. Tel: 2000238, 2208147 Fax: 2770119 Brose Street Turn,Old Tbilisi www.globalinkllc.com www.geocell.ge Tel: 2242244/55/88 www.riverside.ge International Black Sea University David Agmashenebeli Alley 13 km, GeoEngineering LLC Gloria LLC 3 Gorgasali St., 0105 2, 0131 MyGPS 15a Tamarashvili St. Tel: 2595005 6 Bokhua St., 0159 Tel: 2311788; Fax: 2311787 Tel: 2000245 ZZZWLÀLVSDODFHJH www.ibsu.edu.ge Tel: 2180180 www.geoengineering.ge www.mygps.ge

JTI Caucasus National Center for Dispute Geomill LLC GM Capital LLC VII Floor, Pixel Business Center, Resolution 4, Chirnakhuli St. 2 Tarkhnishvili St., 0179 34 Chavchavadze Ave. 4/7 Rustaveli St., Rustavi Tel: 2400000 Tel: 2912626 Tel: 2604111 Tel: 2193406 www.geomill.ge www.gmcapital.ge www.jti.com www.ncdr.ge

Georgian Airways GTR Ltd. Kordzahia, Jgenti Law Firm NCC Ltd. 12 Rustaveli Ave. 17 Shavteli St., 0105 10 Petriashvili St. 9, Erekle II turn Tel: 2999730; Fax: 2999660 Tel: 2439494 Tel: 2921878 Tel: 2725088 www.georgian-airways.com www.ambassadori.com www.kjlaw.ge www.ensisi.ge

48 | Investor.ge ‡ FEBRUARY-MARCH/2016 Nexia TA Rakeen Development LLC Tbilisi View American Friends of Georgia 4th Floor, 19 David Gamrekeli St., Pixel Business Center, 4a, Freedom Sq. 77 Nutsubidze St. 0160 34 Chavchavadze Ave. Tel: 2999980 Tel: 2397174; Fax: 2388495 Tel: 2242559 Tel: 2933393; Fax: 2933993 www.tbilisiview.ge www.afgeorgia.org www.nexia.ge www.rakeen.ge

TBC Leasing JSC CARE International in the Regus, Georgian Branch, Tbilisi 8 Bulachauri St., 0161 Caucasus Noblet Media Business Centre Tel: 2272727 37 Tsagareli St., 0162 7, Khorava St. Level 4, 1 Tabidze St., 2 Leonidze www.tbcleasing.ge Tel: 2291941 Tel:w 2396300 St.,0105 www.care-caucasus.org.ge www.nobletmedia.com Tel: 2900039 www.regus.com Terabank JSC 3 Ketevan Tsamebuli Ave. (CiDA) Civil Development Tel: 2507700 Agency 9/1 Pirosmani St., Rustavi, 3700 Nodia, Urumashvili & Parnters Rentals LLC www.terabank.ge Tel: 341258822 2I¿FH,9%ORFN 46 Rustaveli Ave.; 36 Griboedov St. www.cida.ge 71 Vazha-Pshavela Ave. Tel: 2454567 / 2996412 Tel: 2207407 www.rentals.ge Terrace Hotel & Restaurant www.nplaw.ge 7 Polikarpe Kakabadze St. Europe Foundation Tel: 2999001 3 Kavsadze St. www.theterracetbilisi.com Resolution Insurance Brokers, Tel: 2253942; Fax 2252763 (ext. 112) Georgia LLC Nutrimax Ltd. www.epfound.org 61, Gorgasali St. 68a Rustavi Highway, 0165 Tel: 2936305 Theco Ltd. Tel: 2305335 www.rib.ge 16 Chikovani St. www.nutrimax.ge Free University of Tbilisi Tel: 592107515 140 David Agmashenebeli Alley www.tbilisia.ru Tel: 2200901 Rixos Hotel Borjomi www.freeuni.edu.ge Overall Management Group 16 Meskheti St., Borjomi University of Georgia (OMG) Inc. Tel: 2292292 77a Kostava St. 29 Marjanishvili St. http://borjomi.rixos.com Georgia Red Cross Society Tel: 2552222 Tel: 2436052; Fax: 2436052 15 J. Kakhidze St. www.ug.edu.ge Tel: 2961092 Rooms Hotel www.redcross.ge 14 Merab Kostava St. Veziri Ltd. Paine Stevens LLC Tel: 2020099, 2730099 7 Luarsab Andronikashvili St., 0131 1 Ivane Javakhishvili Sqr. www.roomshotels.com Georgian Wine Association Tel: 2251614 Tel: 2903211, Fax: 2903291 12 Mtatsminda St. www.veziri.net www.painestevens.com Tel: 2505457 RSM Georgia LLC 67, Aghmashenebeli Ave. Good Governance Initiative Tel: 2558899 Vinotel (“Aigvinissakhli”) LLC 4 Elene Akhvlediani Ascent Pixel Center, 8th Floor, 34, PASHA Bank Georgia JSC www.rsm.ge Tel: 2555888 Chavchavadze Ave. 15, Shota Rustaveli Ave. www.vinotel.ge Tel: 2243111 Tel: 2265000 www.ggi.ge www.pashabank.ge Rustavi Steel LLC 12 Y. Gagarin St., 3700 Rustavi Wings and Freeman Capital Tel/Fax: 260 66 99 Green Building, 6, Marjanishvili St. LCC International University / www.rmp.ge Tel: 2940051; Fax: 2940053 LCC Georgia Policy and Management www.wfcapital.ge Kretingos 36, Klaipeda, Lithuania Consulting Group (PMCG) LT-92307 $JKPDVKHQHEHOL$YHWKÀRRU Sakcable JSC Tel: 370 46 310460 Tel: 2921171 Suite 414, 19 Gamrekeli St. www.lcc.lt www.pmcg.ge Wissol Georgia Tel: 2221418 74b Chavchavadze Ave. www.sakcable.ge Tel: 2915315; Fax: 2915615 www.wissol.ge QSI International School of Georgia Primera Golf & Residence Village Zurgovani, Tbilisi Silknet Ltd. 36, Khetagurovi St., 0102 Tel: 2537670; Fax: 2322607 95 Tsinamdzgvrishvili St. Tel: 2200036 www.qsi.org Tel: 2910345; www.silknet.com NON-PROFIT ORGANIZATIONS

San Diego State University - Publicis Ltd. Agricultural University of Georgia 17 V. Jorbenadze St. SRG Investments LLC Georgia 5 Kostava St. 0108 Tel: 2745672; Fax: 2745671 D&KDYFKDYDG]H$YHUGÀRRU 140 David Aghmashenebeli Alley Tel: 2311611 www.publicis.ge Tel: 2253581 Tel: 2594901 www.georgia.sdsu.edu www.silkroad.ge www.agruni.edu.ge

Transparency International Qebuli Climate T3Concept Ltd. Alliance for Progressive Georgia 101, Tsereteli Ave. 13 Radiani St., 0179 Healthcare 61 Agmashenebeli Ave. 0102 Tel: 2356201 Tel: 2434455 27/29 Chavchavadze Ave., 0179 Tel: 2932129 www.qebuli.ge www.turner.com, www.t3concept.ge Tel: 2242413 www.transparency.ge

FEBRUARY-MARCH/2016 ‡ Investor.ge | 49 NEWS

AMCHAM COCKTAIL RECEPTION AT LOLITA BAR

ON APRIL 28, AMCHAM GEORGIA HOSTED A COCKTAIL RECEPTION AT LOLITA BAR. MEMBERS RECONNECTED WITH FRIENDS, COLLEAGUES AND FELLOW REPRESENTATIVES OF MEMBER COMPANIES.

50 | Investor.ge ‡ JUNE-JULY/2017 NEWS

AMCHAM COCKTAIL RECEPTION AT BETSY’S HOTEL

AMCHAM GEORGIA HOSTED A PRESENTATION BY USAID MISSION DIRECTOR DOUGLAS BALL, FOLLOWED BY A COCKTAIL RECEPTION WITH THE GEORGIAN CSR CLUB AT BETSY’S HOTEL ON MAY 25. BALL GAVE A PRESENTATION ABOUT USAID’S INITIATIVES IN GEORGIA AND THE OPPORTUNITIES FOR THE BUSINESS ENGAGEMENT AND CSR IN THEIR WORK MOVING FORWARD.

JUNE-JULY/2017 ‡ Investor.ge | 51 NEWS

Board Of Directors 2017

R. MICHAEL COWGILL PRESIDENT

SARAH WILLIAMSON IRAKLI BAIDASHVILI ANDREW COXSHALL FIRST VICE-PRESIDENT VICE-PRESIDENT & TREASURER DIRECTOR

ESBEN EMBORG LASHA GOGIBERIDZE BADRI JAPARIDZE DIRECTOR DIRECTOR DIRECTOR

AmCham Executive Director Writers George Welton Nanuka Bregadze, Giulia Bernardi, Maarten de Boer, Maia Edilashvili-Biermann, Lika Jorjoliani, Tatjana Montik, Sally White, Copy Editor Tinatin Zurabishvili Alexander Melin Special thanks to CRRC Georgia for their contribution to the magazine, Marketing & Promotion AmCham Georgia’s staff, and all our contributors. This magazine would not be Saba Gvetadze possible without your help.

Promotional Design Levan Baratashvili

Magazine Design and Layout Giorgi Megrelishvili 52 | Investor.ge ‡ JUNE-JULY/2017 NEWS

STEVE JOHNSON OTAR KIPSHIDZE KETTI KVARTSKHAVA DIRECTOR DIRECTOR DIRECTOR

CHRIS SCHLUETER BETSY HASKELL, DIRECTOR FOUNDING ADVISOR

GEORGE WELTON DWIGHT NYSTROM EXEC. DIRECTOR EX-OFFICIO MEMBER

$P&KDP*HRUJLD3DWURQ0HPEHUV

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