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Foreign Direct Investment in Georgia Decreased by 35% in 2018 Continued from Page 1 Attract Investors

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Foreign Direct Investment in Georgia Decreased by 35% in 2018 Continued from Page 1 Attract Investors Issue no: 1132/171 • MARCH 12 - 14, 2019 • PUBLISHED TWICE WEEKLY PRICE: GEL 2.50 In this week’s issue... Weekly Entrepreneurial News @entrepreneur.ge NEWS PAGE 2 Georgia and South Korea Sign Agreement on Economic Cooperation FOCUS ON WOMEN IN BUSINESS Why Georgia needs more women BUSINESS PAGE 2 and equality in business PAGE 6, 7 Will Improved CA Balance and Planned Capital Foreign Direct Investment in Georgia Investments Outweighs Pessimism and Lack of Credit? We’ll see! Decreased by 35% in 2018 ISET PAGE 4 BY AMY JONES Gov't to Tighten School Excursion Regulations reliminary data released by the National Sta- tistics Offi ce of Georgia, Geostat, on March 11 has revealed $1.2 bln of Foreign Direct Invest- ment (FDI) in Georgia in 2018. The fi gure rep- resents a 34.9% decrease compared to the same Pperiod in 2017. The fi nancial sector in Georgia received the highest amount of FDI totaling $277.9 mln. Transport benefi ted from the second highest FDI share with $209.9 mln, fol- lowed by the energy ($157.2 mln), manufacturing ($142.3 mln) and construction ($103.6 mln) sectors. Continued on page 5 Photo source: The Financial POLITICS PAGE 11 Prepared for Georgia Today Business by Markets Asof08ͲMarͲ2019 STOCKS Price w/w m/m BONDS Price w/w m/m BankofGeorgia(BGEOLN) GBP16.00 Ͳ5,3% +0,9% GEOROG04/21 102.53(YTM5.47%) +0,4% +0,8% GeorgiaCapital(CGEOLN) GBP11.10 Ͳ1,8% Ͳ0,4% GEORG04/21 105.61(YTM4.04%) +0,0% Ͳ0,4% GHG(GHGLN) GBP2.06 +0,5% Ͳ12,3% GRAIL07/22 106.90(YTM5.45%) +0,4% +1,3% TBCBankGroup(TBCGLN) GBP15.22 Ͳ1,0% +8,1% GEBGG07/23 99.45(YTM6.14%) +0,1% +0,5% COMMODITIES Price w/w m/m CURRENCIES Price w/w m/m CrudeOil,Brent(US$/bbl) 65,74 +1,0% +5,9% GEL/USD 2,6834 +0,8% +1,5% GoldSpot(US$/OZ) 1298,30 +0,4% Ͳ1,2% GEL/EUR 3,0156 Ͳ0,3% +0,7% GEL/GBP 3,4938 Ͳ0,7% +2,2% INDICES Price w/w m/m GEL/CHF 2,6623 Ͳ0,0% +1,0% FTSE100 7104,31 Ͳ0,0% +0,5% GEL/RUB 0,0405 +0,2% +0,2% FTSE250 19047,67 Ͳ1,8% +2,1% GEL/TRY 0,4933 Ͳ0,4% Ͳ2,1% DAX 11457,84 Ͳ1,2% +5,1% GEL/AZN 1,5821 +0,8% +1,5% DOWJONES 25450,24 Ͳ2,2% +1,4% GEL/AMD 0,0055 +1,9% +1,9% NASDAQ 7408,14 Ͳ2,5% +1,5% GEL/UAH 0,1018 +2,7% +4,5% MSCIEMEE 161,92 Ͳ1,4% Ͳ1,9% EUR/USD 0,8901 +1,2% +0,8% MSCIEM 1030,13 Ͳ2,0% Ͳ0,6% GBP/USD 0,7684 +1,5% Ͳ0,5% SP500 2743,07 Ͳ2,2% +1,3% CHF/USD 1,0082 +0,9% +0,8% MSCIFM 2662,95 Ͳ0,0% Ͳ0,8% RUB/USD 66,3444 +0,6% +1,4% GTIndex(GEL) 1582,68 ͲͲTRY/USD 5,4395 +1,2% +3,7% GTIndex(USD) 1208,13 ͲͲAZN/USD 1,6957 Ͳ0,3% Ͳ0,2% GEORGIA TODAY 2 NEWS MARCH 12 - 14, 2019 @entrepreneur.ge Gamarjoba! I’m the Editor-in-Chief of the Georgian edition of Entrepreneur magazine and I’m here to share the top weekly Entrepreneurial news with you: Tengiz Gogia is a Georgian entrepreneur based in the Netherlands who always wished to start a business in his homeland. Following a friend’s advice, Gogia launched an ice- cream café ‘Maestro Gelato’ for ice-cream and espresso lovers. The gelato and sorbet fl avors are produced using natural fruit pastes. 18 core fl avors are offered alongside seasonal fl avors such as different fruits. ‘Maestro Gelato’ plans to offer more than 200 different gelatos and sorbets, including a vegan menu. Gogia wants to open ice-cream PM Bakhtadze Comments on cafes across Tbilisi. Meet 19-year-old farmer Zuka Maisashvili who has used his knowledge, experience, Developments around TBC Bank resources and family support to start producing wine from endemic grape varieties in Racha, Georgia. His brand quite well. According to him, some pop- Bank Mamuka Khazaradze and his Dep- BY THEA MORRISON ‘Gvinuka’ began making small quantities of ulist and ungrounded information and uty Japaridze had violated the require- wine. Foreign partners have already statements have been made about the ments of legislation regulating confl ict expressed interest; however, the wine is NBG lately. of interests, therefore it suspended the currently only available on the local market. eorgian Prime Minister, “I would like to declare with a full authority of the two men. With new equipment purchased with Mamuka Bakhtadze says responsibility that the National Bank is Khazaradze fi led a lawsuit against the grants, Maisashvili will continue to expand that various political forces an independent institute and staffed with regulator, but the supervisory board decided the business to a wider audience. are trying to take the TBC high professionals, which showed that to withdraw it. It was followed by Khaz- Bank issue back to the it always works in compliance with very aradze’s resignation as the board chair. Victoria Kasyanova and Irina Ignatenko have Gpolitical information fi eld, adding it is high ethical norms. This is not my assess- He announced he was leaving TBC, launched a new startup ‘I SOAP’ producing “irresponsibility and the attempt to pro- ment, it is an assessment we hear from where he had spent 27 years. His deputy handmade and fragrant soaps and cosmetics. vide the population with distorted infor- international fi nancial institutions. This also decided to quit. However, Khaz- Utilizing natural products without artifi cial colors or mation.” is the actual circumstance, all the rest aradze and his deputy will keep positions pesticides is of paramount importance for the The PM made the comment at a press is, unfortunately, political speculation,” at TBC Bank Group PLC, registered in founders of ‘I SOAP’. Kasyanova’s spouse, a sailor conference held at the Government’s he stated. London, UK, which keeps 100% shares who travels a lot, collects a wide range of new and Administration on Friday. Bakhtadze added that TBC is the coun- of TBC Bank. rare products which enriches the brand’s ingredients. Bakhtadze noted that the wrong empha- try’s leading fi nancial institution which Khazaradze arrived in Parliament on The designers of ‘I SOAP’ are inexperienced sis is made and that these forces are try- is of great importance. Monday and raised the issue of respon- marketeers. However, with high quality products and ing to link the TBC issue with the Anak- On February 14, the National Bank of sibility of the National Bank President original packaging, they attract customers easily. lia Port. Georgia stated that after examining Koba Gvenetadze and his deputy. In Follow the Entrepreneur Georgia Instagram page to get the latest updates from The PM talked about the role of the transactions conducted by TBC Bank addition, Khazaradze stated that he had Georgian Entrepreneurs. For doing business with Georgian Entrepreneurs, write us on National Bank of Georgia (NBG) and 2007-2008, it was revealed that the Chair- received a threatening letter from Min- [email protected] said that it fulfi lls its role of regulator man of the Supervisory Board of TBC ister Gakharia. GEORGIA TODAY MARCH 12 - 14, 2019 BUSINESS 3 Georgia and South Korea Sign Agreement on Economic Cooperation sectors. The agreement with Georgia is aimed at expanding economic coop- eration between the two countries, including improving the presence of Korean companies on the Georgian market. “The agreement is another contribut- ing factor to the growth of foreign trade turnover and the development of trade- economic cooperation. Its enabling will encourage entrepreneurs in terms of penetration of the market and encour- age new investment projects” noted the Minister of Economy and Sustainable Development George Kobulia after sign- ing the agreement. The sides also agreed to start nego- tiations on the agreement regarding the promotion and protection of investment between both countries at a mutually convenient time. In addition, speaking at the Korean Foreign Ministry, Kobulia underlined the fact that Korea is interested in Geor- gia as a new tourist destination. For this purpose, there will be 7 direct charter fl ights between Tbilisi and Seoul in 2019. At the initiative of the Minister of Economy and Sustainable Develop- ment of Georgia, offi cials discussed issues surrounding the fulfi llment of direct regular fl ights between Georgia and Korea were discussed at the meet- Image source: Ministry of Economy and Sustainable Development of Georgia ing. “Korea is one of the most important George Kobulia to South Korea, the March 11. The agreement will enter into relations between countries. tourist destinations for Georgia. We BY MARIAM MERABISHVILI Government of Georgia and the Gov- force in 30 days’ time. South Korea and Georgia will establish plan to encourage tourists to come into ernment of South Korea have signed an The agreement should encourage more a joint commission to effectively imple- this country as much as possible and agreement on economic cooperation. joint projects between South Korea and ment the treaty and to explore the direc- offer them new tourist products. More ithin the framework The agreement was signed by Deputy Georgia in benefi cial fi elds for both tions of economic cooperation between than 13,000 Korean tourists arrived in of the visit of the Minister of Economy and Sustainable parties, including investment, trade, the two countries. The Commission will Georgia in 2018, which is 112 percent Minister of Economy Development of Georgia Genadi Arve- tourism and industry sectors.
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