facebook.com/ georgiatoday Issue no: 998/104 • NOVEMBER 14 - 16, 2017 • PUBLISHED TWICE WEEKLY PRICE: GEL 2.50 In this week’s issue... Natural Georgian Produce Fair to Go International NEWS PAGE 2 ReforMeter: Tracking Progress, One Reform at a Time ISET PAGE 4 Gov’t to Tighten FOCUS Construction Regulations ON GOV'T RESHUFFLE BUSINESS PAGE 6 Ministries cut, PM welcomes British Trade Envoy to new Finance and Education ministers PAGE 2&14 Georgia & Armenia on Georgia's Potential in PM: Gov’t Supports Entrepreneurship, Business & Innovations Britain BUSINESS PAGE 11 BY THEA MORRISON A he Georgian Prime Minister, Giorgi Kvirikashvili has once again stated that Momentous the promotion of entrepreneurship, business and innovations is one of the Week for main priorities of the government. TKvirikashvili made the statement on November the World 12 at Tech Park Tbilisi at the opening ceremony of Global Entrepreneurship Week. POLITICS PAGE 15 The PM thanked the US Embassy and Ambassa- dor Ian Kelly for the initiation and fi nancing of a program of mentorship that connects experienced Girl of Now: Elie Saab’s mentors with young people and business sector representatives for a year with various activities New Fragrance at Ici that will provide young people with innovative ideas for their businesses. Paris Stores Continued on page 3 SOCIETY PAGE 15 Prepared for Georgia Today Business by Markets Asof10ͲNovͲ2017 STOCKS Price w/w m/m BONDS Price w/w m/m BGEOGroup(BGEOLN) GBP35.57 Ͳ0,9% +8,1% GEOROG04/21 107.29(YTM4.45%) +0,1% +0,9% GHG(GHGLN) GBP3.37 Ͳ4,0% +9,5% GEORG04/21 112.35(YTM3.03%) Ͳ0,3% Ͳ0,0% TBCBankGroup(TBCGLN) GBP17.00 Ͳ2,4% +6,2% GRAIL07/22 111.77(YTM4.89%) Ͳ0,1% +0,2% BGEOLN07/23 103.19(YTM5.34%) Ͳ0,0% +0,1% COMMODITIES Price w/w m/m CrudeOil,Brent(US$/bbl) 63,52 +2,3% +12,2% CURRENCIES Price w/w m/m GoldSpot(US$/OZ) 1275,07 +0,4% Ͳ1,0% GEL/USD 2,6506 +1,7% +7,0% GEL/EUR 3,0940 +2,3% +5,7% INDICES Price w/w m/m GEL/GBP 3,4962 +2,6% +6,9% FTSE100 7432,99 Ͳ1,7% Ͳ1,4% GEL/CHF 2,6663 +2,3% +4,7% FTSE250 20020,85 Ͳ2,2% Ͳ0,6% GEL/RUB 0,0448 +1,6% +4,9% DAX 13127,47 Ͳ2,6% +1,4% GEL/TRY 0,6855 +2,3% +2,7% DOWJONES 23422,21 Ͳ0,5% +2,6% GEL/AZN 1,5603 +1,7% +7,0% NASDAQ 6750,94 Ͳ0,2% +2,5% GEL/AMD 0,0054 Ͳ +3,8% MSCIEMEE 162,54 +3,4% +1,3% GEL/UAH 0,1000 +3,5% +7,3% MSCIEM 1128,49 +0,2% +1,4% EUR/USD 0,8573 Ͳ0,5% +1,2% SP500 2582,30 Ͳ0,2% +1,2% GBP/USD 0,7581 Ͳ0,9% +0,1% MICEX 2169,26 +4,2% +3,9% CHF/USD 0,9961 Ͳ0,5% +2,1% MSCIFM 2854,13 Ͳ0,3% Ͳ0,9% RUB/USD 59,1593 +0,2% +2,0% GTIndex(GEL) 1133,66 ͲͲTRY/USD 3,8644 Ͳ0,6% +4,1% GTIndex(USD) 922,38 ͲͲAZN/USD 1,6985 +0,0% +0,1% GEORGIA TODAY 2 NEWS NOVEMBER 14 - 16, 2017 Prime Minister Introduces Changes within Government pean and Euro-Atlantic Integration will of Energy, to be led by Dimitry Kumsish- BY NINO GUGUNISHVILI be merged with the Ministry of Foreign vili, former Minister of Finance of Geor- Affairs, while the Minister of Foreign gia. Kumsishvili will continue to be the Affairs, Mikheil Janelidze, will continue fi rst Vice Premier of the country. Foreign he Prime Minister of Geor- in his current post. The Ministry of Envi- Intelligence Service and the State Secu- gia, Giorgi Kvirikashvili, ronment and Natural Recourses Protec- rity Service are to be combined in one has announced structual tion will now form part of Ministry of structure. changes in the Government Agriculture, while Levan Davitashvili, Giorgi Gakharia, Former Minister of of Georgia in a briefi ng on Minister of Agriculture, is to retain his Economy and Sustainable Development, TMonday. post. Ministry of Culture and Monu- will now lead the Ministry of Internal According to Prime Minister Kvirikash- ments Protection will merge with sports Affairs of Georgia, while Giorgi Mge- vili, several Ministries will be merged affairs, Mikheil Giorgadze will continue brishvili, former Minister of Internal and new candidates will be appointed as Minister of Culture; the youth com- Affairs, will now lead the newly formed to Ministerial posts. Following the infor- ponent from the Ministry of Sports and Center for Emergency Management. mation recently announced, the number Youth will move to the Ministry of Edu- Mamuka Bakhtadze, former General mer Deputy Rector of Tbilisi Ivane The recent changes are planned to be of the Ministries will be cut from 18 to cation and Science of Georgia. Ministry Director of Georgian Railways, is to be Javakhishvili State University, will replace implemented during the upcoming gov- 14. of Economy and Sustainable Develop- appointed to the post of Minister of Aleksandre Jejelava in the Minister of ernment meeting, and consequently The State Minister Apparatus for Euro- ment is to be merged wth the Ministry Finance, while Mikheil Chkhenkeli, for- Education and Science post. presented to Parliament to approval. Tbilisi City Hall to Start Legal Dispute against C.T. Park imposing high fi nes on them. Company and the Mayor’s Offi ce was BY THEA MORRISON Kaladze says that he is considering signed under the previous government applying to the court to fi nd out if the in 2007, and the company received exclu- company is acting within the law. sive rights to manage parking services in ayor-Elect of Tbilisi, “Lawyers will be involved in the process Tbilisi until 2022. Kakha Kaladze says that of verifying the legality of C.T. Park activ- The previous Mayor, Davit Narmania, City Hall is going to start ities. Our approach will be legal,” Kaladze also stressed on numerous occasions that a legal dispute against told Imedi TV. he was unsatisfi ed with C.T. Park, and the parking regulatory He added that 99% of court disputes explained that the agreement cannot be Mcompany C.T. Park, which has the exclu- over fi nes imposed by this company were cancelled as, according to the interna- sive right to manage parking in the capital. ruled in favor of Tbilisi citizens, which tional auditing company Ernst & Young, Many Tbilisi residents say they are raises questions about the company actions the annulment of the agreement will cost unhappy with their services of the com- being legal. the Mayor’s Offi ce 25 million GEL in pany, accusing it of acting illegally while The contract between the C.T. Park expenses, a “huge sum for Tbilisi's budget”. GEORGIA TODAY NOVEMBER 14 - 16, 2017 NEWS 3 PM: Gov’t Supports Natural Georgian Entrepreneurship, Produce Fair to be Business & Innovations Continued from page 1 women entrepreneurs,” he said. At the event, US Ambassador Kelly “We aim at creating economic devel- handed Kvirikashvili a replica of the opment and a knowledge-based econ- Voyager Golden Record that contains omy,” he said, highlighting as an example 116 images, a calibration image and a the Georgian Innovations and Technol- variety of natural and other sounds, Held Internationally ogies Agency, and projects Produce in among them Georgian folk song Chakrulo. Georgia and Startup Georgia, that pro- The items were selected for NASA by mote innovations and entrepreneurship a committee chaired by Carl Sagan, after BY NINO GUGUNISHVILI in the country. which one of the rooms at Tech Park has “Through various educational and been named. fi nancing programs and schemes, these The Voyager Golden Record replica atural Georgian products, projects are actively involved in small will be exhibited in Tech Park. united under one brand, and medium businesses and startup sup- “I would like to thank the US embassy are preparing to enter portive programs,” Kvirikashvili said. and NASA for such an amazing gift,” the the global market. The Prime Minister also talked about PM stated. Irakli Chavleishvili, the reform of the education system within The US Embassy and partner organi- NHead of the Project, plans to organize which special emphasis is placed on the zations are promoting innovation and an exhibition and fair of natural Geor- STEM fi elds: Science, Technology, Engi- entrepreneurship from November 12-18 gian produce at the Event Hall in Tbi- neering, Mathematics and also informa- within the framework of Global Entre- lisi from 10:00 to 18:00 on November tion technology. preneurship Week 2017. 18. He explained that undergraduate and This year’s theme, ‘Women First, Pros- The event will introduce the Gemo- graduate programs in collaboration with perity for All,’ highlights the importance vani brand to customers, with around the University of San Diego enable Geor- of women-led businesses and female- fi fty Georgian producers participating gian students to obtain higher education friendly working environments. in the exhibition, coming from across and American academic degrees in these The US Embassy will also launch a Georgia and bringing their natural fi elds. year-long business mentorship program products: bread, milk, meat, fruits and The PM thanked the Millennium Chal- for women and men from all regions of vegetables, grains, and more. lenge Corporation and San Diego Uni- Georgia to develop business skills. “From 2018, weekly fairs will be held, versity for their contribution to the pro- American entrepreneur Betsy Fore, bringing together the produce under ject. known for her work with Hasbro and the Gemovani brand,” Chavleishvili Kvirikashvili also spoke about the topic Mattel, will also run a series of work- says.