6

BUSINESS&ECONOMY
GEORGIAN BUSINESS WEEK - OCTOBER 18, 2011

Turkmall Announces Continuation of All Ongoing Projects in Georgia

Turkmall will maintain all ongoing projects in Georgia, says the companys official statement to decline the mass media information on expected suspension of Forum Delisi project implementation Forum Delisi and Forum Batumi are considered to be major target programs of Turkmall in Georgia, the companys officail website reports. Georgia is one of those countries, where we operate. Forum Rakeen - Tbilisi Mall, Forum Delisi, Forum Rustavi Outlet and Forum Batumi are ourongoing projects, the statement reads. Turkmall keeps cooperating with a new management of Rakeen Development. Forum Rakeen Tbilisi Mall is a special project with its architecture, restaurants, cafes and recreation spaces, with the worlds famous brands. The project will add a special value to the region from the economic and tourism points of view. Turkmall launched operation in 1992 and is a leader in shopping mall and investment industry development. The company has developed 20 shopping malls in 15 countries and serves over 150 million customers a year.

Fawaz Abdulaziz Alhokair to Introduce 35 Brands in Georgia

Arab company Fawaz Abdulaziz Alhokair, which is headquartered in Saudi Arabia plans to open stores of 325 brands in Georgia as part of an investment of the International Finance Corporation (IFC). IFC has approved a 50 million USD credit line to Fawaz Abdulaziz Alhokair for expansion of operation in Kazakhstan and penetrating new markets, including Georgia and Azerbaijan. The Georgian office of the company told GBC the company is conducting negotiations with six brands of Inditex - Zara, Bershka, Stradivarius, Iyshgo, Massismo Dutti and Pull and Bear. Moreover, negotiations are planned with Wallis-, GAP, Bananna Republic, Body Shop and other famous brands. The stores will open at Uptown Tbilisi shopping mall, which is being constructed by RAKIA Georgia. The brand stores will expectedly open at the end of 2011 or at the beginning of 2012 jointly with the shopping mall. Moreover, the company plans to unveil six

other brand stores on Rustaveli Avenue in Tbilisi in March 2012, but the company does not divulge the selected brands. Founded twenty years ago Fawaz Abdulaziz Alhokair operates in the real estate sector and owns shopping malls, about 10000 stores and food and entertainment assets.

Heads of Turkeys Leading Textile Companies Arrive in Georgia

A delegation of heads of Turkeys leading textile companies led by the president of Turkeys Clothes Manufacturers Association Chem Negrin are visiting Georgia by the invitation of the National Investment Agency of Georgia and the Economic Prosperity Initiative (EPI) of the US Agency for International Development (USAID). The association unites 400 leading textile companies of Turkey, the Investment Agency says. The visit is carried out under the patronage of the Georgian Economy Ministry as part of Georgian Fashion Week. A working meeting was held at the Economy Ministry, as well as the presentation of Georgias investment climate and textile industry development opportunities. The Turkish delegation also visited El Selema company. The delegation includes executive directors of Koton, Seleksiyon Tekstil, Negreti Tekstil, Ogretmen Corap (PENTI), STFA. These companies manufacture clothes for such brands as Roberto CAVALLI, SCERVINO, Zara, Mango, GAP, H & M. On October 14 to October 16 the delegation will visit textile factories, including Batumi-based BTM textile. The delegation members will also see potential investment territories in the Guria Region.

ACT Survey: Georgian Citizens Erroneously Name Major Exports Products

The Georgian citizens ATC marketing company has questioned all over Georgia think that wine and mineral water are major exports items of the country. 74.1 percent of the respondents named wine and 69 percent named mineral waters. Under the ACT report, the reality differs from the considerations of the citizens. According to the parliament's budget office, a major ratio is registered for automobile re-exports (22.9 percent), the ratio of ferroalloys accounts for 12.3 percent and metal exports ratio is 9.7 percent. "The ratio of wine and spirits in Georgia's exports was only 3.5 percent in 2010. This year the figure has further shrunk and differs from the consideration of the surveyed citizens", the report says. ACT conducted the survey by order of USAID Georgia Economic Prosperity Initiative (EPI) and questioned 1200 citizens of Georgia. According to GeoStat, the national statistics service of Georgia, the country's foreign trade turnover from January to August 2011 increased by 39 percent to 5.687 billion USD, including the exports equaled 1.371 billion USD and the imports amounted to 4.316 billion USD. Automobiles rank first in Georgia's ten major exports items with a 22.2 percent ratio. The country re-exported automobiles worth 304.644 million USD in the reporting period. Ferroalloys rank second with a 12.8 percent ratio (175.556 million USD). Scrap of ferrous metals ranks third with a 7.2 percent ratio (98.719 million USD).

EUROPEAN ROAD SAFETY DAY

European Road Safety Day was kindly supported by the J.S.C. Wissol Petroleum Georgia and the restaurant network of GMC Group: - There had been specially designed Dont Drink and Drive! car stickers distributed at Wissol petrol stations, as the part of the event. - in addition, Shemoikhede Genatsvale restaurant staff were wearing campaign T-shirts and distributing printed information/promotional materials (car stickers, leaflets) to the customers. Social campaign Dont Drink and Drive! was officially launched on 11th of May (official launching day of the UN Decade of Action for Road Safety global campaign) in the framework of the Georgias First Ladys Healthy Life Style Initiative Dont Worry, Be Healthy. The Project is initiated and conducted by the Georgian Alliance for Safe Roads. The donors of the Campaign are: Brewery Natakhtari, Insurance Company GPI Holding, Toyota Caucasus LLC and the U.S. Embassy in Georgia. The Project aims to raise public awareness of the problems that drunk driving can cause, and to reduce the number of crashes caused by drunk driving.

On October 13th, the Georgia Alliance for Safe Roads marked the European Road Safety Day by holding the joint event at the BritishGeorgian Academy in Tbilisi. Guest speakers spoke to 11th and 12th graders about the road safety issues, responsible drinking and its importance. This age group was chosen due to the fact that they are future/potential drivers and as according to the statistics, road crashes are the single biggest killer of 15-24 year-olds. According to Maya Kobalia, Executive Director of the Georgia Alliance of Safe Roads, introducing road safety public education campaigns to youth is a matter of the uttermost importance in order to build a community of re-

sponsible young drivers. There was a presentation of the road safety public-education campaign Dont Drink and Drive! and of its new character VASO (Abbreviation: Who does not drink alcohol). VASO a designated driver, who remains sober, is the analogue of BOB. Georgian VASO, like Belgium and Dutch BOB, is a person who abstains from alcohol on a social occasion in order to drive his/her companions home safely. The meeting was interactive and got the audience involved. Pupils were asked questions about the allowed blood alcohol level, among other questions, and the winner contestants got campaign T-shirts, badges and posters.