Investment and business possibilities in Georgia
FROM THE REDACTION
The 1st plenary business session:
investment and business possibilities in Georgia
The speakers on the Georgian part:
The Mayor of Tbilisi – Gigi Ugulava
The Minister of Economic Development – Irakli Chogovadze
The Minister of Agriculture – Mikheil Svimonishvili
The Head of Tourism and Resorts Department – Saba Kiknadze
The Chairman of Georgian National Commission on Communications – Dimitri Kitoshvili
Manager General of “Geocell” company – Osman Turan
Manager General of “Pro Credit Bank” – Philip Sigwart
The Vice-President of “TBC” group – Badri Japaridze
The President of “Tbillgvino” – Giorgi Margvelashvili
Philip Sigwart, the Manager General of “Pro Credit Bank”, said that in order to attract long-term investments to Georgia, we have to give investors the information based on our own experience confirming that investments in Georgia are lucrative for both parts.
“Pro Credit Bank” started to make investments in Georgia since May 13, 1993, it has given out 33 thousand credit amounts, 21 thousand of small businessmen get financing from this bank. It has 33 brunches; out of Georgian regions, it has the largest number of customers in Batumi and Kutaisi, as well as in Kobuleti and Gori. Opening of 26 branches is planned for the end of the year, 5 of them have already been opened and almost 50% of Zugdidi’s population are making use of this bank’s services.
“Tbilgvino” company, the President of which is Giorgi Margvelashvili, has been working since 1962. The main priority of the company is introduction of western standards and export of Georgian wine to different countries of the world: Russia, Ukraine, Kazakhstan, the United States, Thailand, China, etc. It is noteworthy that there took place a joining up of wine-makers in “The Association of Wine Makers”, the objective of which is inculcation of Georgian wine upon the world market as well as struggle againstfalsification. According to statistical data, over the past years the export of wine has increased 50 fold, while sales indicator – 7 fold; presumably, these indicators will increase still more.
Osman Turan – Manager General of “Geocell” company. “Geocell” company came to Georgia with first Turkish investments in September 1996. Presently the company has 189 employees whose mean age is 33 years. There are two GSM operators in Georgia, and one of them is “Geocell”. Our company offers high quality services to the customers, and it has made big profits to its foundercompanies. We have always cared for our clients and will do it in future as well. We will offer you the latest technologies. Presently “Geocell” serves up to 700 000 subscribers. Our company is one of the largest tax-payers to the Georgian budget. “Geocell” plays an active part in Georgian social life and contributes to the development of culture and sports. In 2004-2005. there has been a big growth in the number of “Geocell” subscribers, which is the indicator of how the country is developing, and that the country’s economy has become stabilized.
An interview with the Director General of “Geocell” company – Mr. Osman Turan
1. Mr. Turan, you are an experienced businessman and have been working in Georgia for a long time yet. Please, if it is possible, tell us about your views concerning the Georgian business, or maybe you can give it some advice.
There is no doubt that Georgian business is developing, I will speak about it in my speech. As to the forum, it is not the first one and this kind of forums will intensify relations with foreign countries.
2. In your opinion, what should Georgian businessmen do for attraction of foreign investments?
This kind of forums just serve the purpose of attracting foreign investments.