CSR Special Edition / The FINANCIAL

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SUSTAINABLE AND RESPONSIBLE BUSINESS - NEW EUROPEAN POLICY s e e o n p a g e 2 3

© 2011 The FINANCIAL. INTELLIGENCE BUSINESS PUBLICATION WRITTEN EXPRESSLY FOR OPINION LEADERS AND TOP BUSINESS DECISION-MAKERS

GEORGIAN WEBSITE http://www.fi nancial.ge

http://www.fi nchannel.comDecember 19, 2011

RAZIDOR CODE OF BUSINESS ETHIC See on p. 8

TBC BANKTHE BEST CORPORATE CITIZEN OF GEORGIA See on p. 10

THE CSR ACTIVITIESOF GEOCELL

See on p. 14

BUY NATAKHTARI LEMONADE AND HELP CHILDREN DEPRIVED OF PARENTAL CARE

See on p. 19

GEORGIAN SOCIETY UNAWARE OF THE SOCIAL RESPONSIBILITIES OF BUSINESSES

See on p. 22

TEGETA MOTORS CELEBRATES ITS 16TH ANNIVERSARY

See on p. 25

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CSR Activities Increasing Gurieli Customer Loyalty

Grant Thornton’s Advice to Companies

See on p. 16 See on p. 13

Dec. 26 Dec. 12

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“CSR Can Bring Profi t, Reduce Risks and Enlarge the Market”

The FINANCIALBy NANA MGHEBRISHVILI

“It’s evident that CSR isn’t very developed in Georgian companies, but the sector has experienced progress dur-ing the last fi ve to ten years,” said Keti Vashakidze, Direc-tor of the Eurasia Partnership Foundation.

“Businesses interpret social responsibility in two direc-tions. The fi rst is how they treat their staff and the sec-ond, what they do for the en-vironment. Both directions of CSR are starting up nowadays in comparison with other, es-pecially Western, countries.

Caring for staff is one main

principle of operating for

western companies. This is determined at the time when businesses start. But such an attitude is reached through the time and effort of special unions and organizations. A similar attitude for socially re-sponsible companies doesn’t exist in Georgia. There are several big companies includ-ing banks that are socially responsible regarding their staff. This means that compa-nies have adequate working hours, involve their staff and employees’ family members in different programmes includ-ing insurance programmes.

Continued on p. 3

Keti Vashakidze, Director of the Eurasia Partnership Foundation

Socially Responsible

companiesThe FINANCIAL

By NANA MGHEBRISHVILI

“Business ethics is still a must”. According to Michael Cowgill, President of Geor-gian-American University, Eur-asia Partnership Foundation is supporting the development of a new CSR course which will be taught in the leading Business Schools in Georgia.

AmCham is now the offi -cial representative of the UN Global Compact Georgia Net-work aimed at fostering a sound CSR culture throughout Geor-gia. The United Nations Global Compact is the largest corpo-rate social responsibility initia-tive in the world, encompassing about 7,700 members in 130 countries.

Continued on p. 21

The FINANCIALby MARIAM PAPIDZE

“Our choice is to fi nancially help those people who have low incomes. Our social re-sponsibility is to bring fi nancial services where there is none at all,” says Levan Lebanidze, General Director of Bank Con-stanta. “At the moment we are

the most active micro fi nancing organization which operates in the regions. Our activities in the direction of agriculture are equally profi table for the com-pany, for society and for the en-vironment.”

Last week The FINANCIAL talked with Mr. Lebanidze.

“CSR is not only about moral obligations. It impacts

positively on the business”

Continued on p. 4

See on p. 6

Madneuli Spent 1,000,000 GEL on CSR Activity in 2011

CSRCSR

HEADLINE NEWS & ANALYSIS2 FINANCIALDECEMBER 19, 2011 | FINCHANNEL.COM

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December 19, 2011

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Prices in GEL

REGULAR 2.07EURO REGULAR 2.10PREMIUM 2.18SUPER 2.25DIESEL 2.10EURO DIESEL 2.27

Prices in GEL

API Super 2.30API Premium 2.25Euro Regular 2.15API Diesel 2.30Diesel Energy 2.15Regular Energy 2.10

Prices in GEL

Eurosuper 2.25Premium Avangard 2.20EuroPremium 2.18Euroregular 2.05Eurodeasel 2.25

Prices in GEL

Super Unleaded 98 2.25Premium Unleaded 96 2.20Regular Unleaded 93 2.05Euro Diesel 5 10 PPM 2.30Diesel L-62 2.10

Prices in GEL

Euro Super 2.25Efi x Euro Premium 2.20Euro Regular 93 2.07Efi x Euro Diesel 2.30Euro Diesel 2.15

CURRENT PRICES ON GASOLINE AND DIESEL DECEMBER 19, 2011, GEORGIA

GASOLINE PRICES PRESENTED BY BUSINESSTRAVELCOMHOTEL AND AIRTICKET BOOKING: 2 999 662 | SKY.GE

socially socially responsible companiesresponsible companiesCSR SHOWCASE,LIVE PRESENTATIONS FOR MEDIADECEMBER 19. 12.00TBILISI, COURTYARD BY MARRIOTT

General Sponsor:

Golden Sponsor:

Sponsors:

KHACHAPURI INDEX (KH-INDEX) AND CONSUMER PRICE INDEX (CPI)

INFLATION:MOVING IN TANDEM

The values of monthly No-vember infl ation in both CPI and Kh-Index were very close to each other

(0.69% and 0.72%, correspond-ingly). Even more surprisingly, CPI was up by only 1.9% in year-on-year terms (compared to No-vember 2010) which is exactly equal to the year-on-year infl ation in Kh-Index. This is the fi rst time since 2008 that these two indices have identical values.

Our expectations about very low annual infl ation in 2011 appear to be justifi ed. Just to remind our readers, year-on-year infl ation in Georgia has been increasing since June 2010 till May 2011, when

it peaked at 14.3%. Ever since it has been declining in a consistent fashion, reaching 1.9% in Novem-ber 2011. We expect both CPI and Kh-Index to pick up in December due to seasonal production and consumption patterns, however it is very likely that annual infl ation will be very close to zero at the conclusion of 2011.

ECONOMIC LESSON OF THE WEEK:

A CIGARETTE ADAY KEEPS THE

DOCTOR AWAY…IN GEORGIA

This year’s Transition Report prepared by the European Bank for Reconstruction and Develop-ment (EBRD) is focused on peo-ple. The main question addressed by the report is how people – citi-zens of all transition nations, UK, Sweden, France, Italy and Ger-

many – adjusted consumption behavior and attitudes to “market economy” and “democracy” as a result of the 2008 fi nancial crisis.

This week, EBRD presented its fi ndings at a public seminar host-ed by the International School of Economics at TSU, and, quite naturally, devoted considerable attention to Georgia. Our lesson of the week considers only one question addressed by the report, namely, how people adjusted their consumption patterns when fac-ing economic hardships.

As could be expected, as a re-sult of the crisis consumption fell for all types of goods and services across all countries in the EBRD sample. However, there are very signifi cant differences among Western European and transition region countries. In particular, many more households in transi-tion countries report a reduction in the consumption of “staple food” such as bread, milk, eggs, sugar, etc.: 39% compared with 11% for Western European na-tions. In the West, the crisis has mainly affected consumption of luxury goods (reduced by 32% of

households). Georgia appears to be hit the

hardest: more than 65% of Geor-gian households had to reduce consumption of staple food. An-other consumption item that was sacrifi ced (or neglected) by many Georgians is healthcare. More than 45% of surveyed households report having to postpone or skip visits to doctors. This share is four times(!) higher than the transition region average (slightly more than 10%) and more than 10 times(!) higher than in Western Europe (about 3-4%).

Even more striking in this con-text is the fact that while cutting on food and healthcare expendi-tures, Georgians refused to adjust their smoking and alcohol con-sumption. Only 6-7% of Georgian households report a reduction in the consumption of alcohol and cigarettes, compared to about 12% in the West and 21% in the transi-tion universe.

Apparently, many Georgians believe that a cigarette a day can help keep their doctors away. For now, at least.

KHACHAPURIINDEX

KHACHAPURI INDEX IS EXCLUSIVELY PROVIDED TO THE FINANCIAL BY ISET

DECEMBER 2011

HEADLINE NEWS & ANALYSIS 3FINANCIALFINCHANNEL.COM | DECEMBER 19, 2011

C M Y K

socially socially responsible companiesresponsible companies

Q. How can companies in Geor-gia benefi t from social responsi-bility projects?

A. Through strategic social invest-ments. Eurasia Partnership Foundation is oriented exactly on the development of such investments. This signifi cantly differs from charity. Businesses often give to charity and this is included in companies’ marketing plans. Charity makes companies more popular and attracts more customers. But this is short-term and the results don’t last for long. More developed countries and companies tend to do strategic social investments more than charity. ‘Stra-tegic’ means that the investments are long-term. They help society with their knowledge and experience. They try to increase community involvement in their activities. This is an investment for the company and not charity. Busi-nesses help the community and as a re-sult the community helps the business.

There is one good article in the Geor-gian legislation in terms of social activi-ties and charity. After paying all taxes, if the company spends eight percent of the whole profi t on social projects and charity, this eight percent isn’t taxed.

Q. Do you think that companies in the same sector (law, consul-tancy, mining etc) which compete in the marketplace should coop-erate together more in matters of social and environmental need?

A. Of course, this would be very good and this is the way that western com-panies act, but in Georgia the reality is different. The legislation and labour rights don’t support CSR development in this direction. The law somehow limits companies to unite to lobby one idea. The EU is always urging Georgia to do this. On the other hand, Georgian society historically isn’t used to working together for one objective.

Q. How does CSR affect com-panies’ fi nancial success and in general can responsible business prevent recession?

A. There is a fi nancial crisis in the world and it is thought that less social investments should be implemented. Some entrepreneurs think that the mar-ket is shrinking and they have to spend money wiser. But big businesses are not reducing social investments. Vice versa, social projects prevent entrepreneurs from experiencing the fi nancial crisis. Stopping the market from shrinking isn’t a major factor against the crisis. Raising risks are dangerous as well and social projects help them to decrease the rate of risk.

I can give an example of this. A com-pany wants to build a hotel in a moun-tainous region of Georgia, which is a very prospective place but the popula-tion of the region isn’t sociable. So the company has to win over the loyalty of the people. They will defi nitely have to employ some people, so increasing their knowledge will be a strategic step from the company. Tourists would like to buy traditional handicrafts. Invest-ing in the production of handicrafts will be profi table both for the company and the community as well. Such factors im-portantly reduce risk factors including fi nancial ones.

Q. Do you think that companies

should invite representatives of international NGOs to provide a more informed understanding of corporate responsibility?

A. Demand for trainings isn’t high. We started conducting trainings four years ago and tried to create demand for training. We wanted to make people in-volved in such activities. As there won’t be demand until there is no knowledge. Representatives of international NGOs would be great, of course.

For the fi rst time, we invited success-ful businessmen from international companies to share their experience with Georgian companies. Later we in-vited consultants to conduct trainings for the CEOs and managers of compa-nies. These activities caused huge inter-est and the situation somehow started improving. But then the Georgian-Rus-sian war happened and the priorities of companies and the Government totally changed.

Q. What actions should compa-nies take to protect the environ-ment, reduce climate change and prepare for a low carbon econo-my?

A. Environment protecting problems are very active nowadays. But this re-sults from the hard work and efforts of environment protecting NGOs. They started operating in their home coun-tries and later became international ones. Their intensive lobbying of pro-tecting the environment has resulted in agreements and responsibilities taken by the states. This means that some regulations will start operating in the country. So business has to obey these regulations.

The situation is very poor in terms of regulations in Georgia as well. Regula-tions are very few and weak, therefore almost no one implements environ-ment protecting projects. There are sev-eral quite strong NGOs operating in this fi eld, but they aren’t strong enough to give some directions to entrepreneurs in terms of protecting the environment. In such situations businesses are think-ing only about themselves.

Q. Reporting is one of the main principles of socially responsible business. Though very few com-panies in Georgia make public their fi nancial information. In your view what can encourage companies to start making pubic reports?

A. As far as we know there is only one company, BP, which annually reports their fi nancial data. This is a really im-portant part of being socially respon-sible. We conducted training on how to prepare a report. We invited represen-tatives from the company which estab-lished international standards on how to prepare the report. But interest was very low.

Q. Do you think the CSR mes-sage is only being heard and acted upon by large companies? Why should small and medium businesses implement CSR activi-ties?

A. Small and medium companies are more socially responsible than big ones. Comersant has prepared a list of the top companies in terms of CSR activities and small companies led the list.

Social entrepreneurship is the best developed social business. Such com-panies are established on the idea of being socially responsible, they have a big profi t and then reinvest the money in the social mission. In general such entrepreneurships are small or medium sized ones.

Social businesses hold quite a large share in the whole economy of coun-tries. As far as I know socially responsi-ble businesses bring two percent to the economy of the UK and seven percent to that of Spain.

In general all businesses regardless of their size have to be socially respon-sible. They have to look at social re-sponsibility as an investment and not a waste. This is long-term, reduces the risks and broadens the market.

All entrepreneurs have to look at social responsibility as an investment and not a waste. This is long-term, reduces the risks and broadens the market

Continued from p. 1

“CSR Can Bring Profi t, Reduce Risks and Enlarge the Market”


C M Y K


The FINANCIALby MARIAM PAPIDZE

“Our choice is to fi nancially help those people who have low incomes. Our social re-sponsibility is to bring fi nan-cial services where there is none at all,” says Levan Leb-anidze, General Director of Bank Constanta. “At the mo-ment we are the most active micro fi nancing organization which operates in the regions. Our activities in the direc-tion of agriculture are equally profi table for the company, for society and for the envi-ronment.”

Last week The FINANCIAL talked with Mr. Lebanidze.

“First of all CSR is asso-ciated with business activ-ity for Bank Constanta. This means signifi cant contribu-tion to the country’s fi nancial sector for economic develop-ment; caring about raising the living standard; reason-able funding for the lower income segments of society; to have affordable fi nancial services for society; to im-prove and develop credit ser-vice. Bank Constanta wants to be a reliable partner for the state and for nonprofi t organizations. Together we will create a stable social en-vironment.

The main direction of CSR for Bank Constanta is the cre-ation of economic and social benefi ts for our clients and for their families. The company should protect its client’s rights. Also, employees’ social security is very important for us; life and health insurance, human resources’ research and development. Another important thing is social proj-

ects. We implement social projects in various fi elds such as educations, culture, sport, health and environment pro-tection.

Our mission includes so-cial responsibility. Our com-pany’s profi le is a high quality fi nancial service with special focus on micro and small en-trepreneurs. People who have low levels of income can still access fi nancial services. It took a long time for the world community to recognize that micro fi nancing service brings about great results for poor people. Constanta was the fi rst micro fi nance organiza-tion and has been working in Georgia since 1997. None of the companies had the same profi le as us. This means that one part of society was excluded from the scope of banking services.

Q. In your opinion what kind of CSR activi-ties does society expect from Constanta?

A. First of all society re-quires a business company to do its job correctly. This is about payments, creating new jobs, having quality products and services. Besides all these things, society expects social-ly benefi cial activities from the company; to be interested in solving the problems which exist in society. At the same time it is very important for the business to be considered as not just a source of income and money, but as a source of development. Because the business truly can impact on the development of society and change the economic cli-mate.

The strategy and future plans of the Bank are based on its social mission fi rst of

all. According to the com-pany’s main goal, its service should be affordable for those customers who can not use credit service.

We choose such regions where there are not fi nancial institutions. Or their number is so few that they can not sat-isfy the demand. In such situ-ations we fi ll in the shortage, which is demanded but is not supplied.

Every company should be based on the idea that all par-ties must me satisfi ed and happy. We offer the product to society according to the de-mand. The company, society and environment should all benefi t. If the company does not benefi t, it can not offer the service next time.

Demand and supply should be based on a healthy econo-my.

Q. What are the main projects implemented by your company within the frame of CSR? Please could you give us exam-ples of the most success-ful CSR directions, which benefi t company, society and environment?

A. For example we are sponsors of the festival Art-Gene. In the framework of the festival lots of interesting art is displayed. The young generation is involved in this festival as well. It is a very important event because the purpose of the festival is to maintain and introduce Geor-gian culture and traditions to the new generation and soci-ety at the same time.

This is not the only way that Bank Constanta supports Georgian culture. From our page on facebook custom-ers are able to get informa-tion about all the regions of Georgia and our traditions in them. We also sponsor edu-cational video projects. The videos are about Georgian traditions and history as well. We believe that all these help society to evaluate Georgian culture and traditions.

Q. Do you have a sepa-rate CSR department and Manager at your com-pany in charge of CSR activities?

A. The marketing depart-ment of Bank Constanta man-ages CSR development and implements different projects in this fi eld. This department is functionally divided in to three directions: customer satisfaction, caring of employ-ees and social projects.

Q. Do you have a deter-mined annual budget for CSR activities?

A. As CSR is a very im-portant part of Constanta’s directions it is of course de-termined in the budget. The budget has increased com-pared to last year and we ex-pect more of an increase next year as well.

Q. Does the company publish summary re-ports from time to time and how accessible is it for society?

A. It is very necessary for summary CSR reports to be accessible for society. In to-day’s world it is important for society to have information about the projects that the company implements. Sum-mary reports give information to society about the signifi -cance of the company. People can get information about our projects and activities from our annual reports and this information is accessible on our website.

Q. How much do CSR activities help your com-pany to succeed?

A. CSR is not only about moral obligations. It impacts positively on the business. This is a successful step that gives a good image to the company in the eyes of the world and in the country where the company oper-ates. CSR causes demand for a product, helps the company to maintain its clients, to at-tract human resources. It also helps the company to improve relations with the Govern-ment. All these facts improve the business environment in general. It also increases the number of the company’s cli-ents.

“Despite the fact that CSR is widespread in Georgia, currently there is no widely accepted defi nition of CSR. Also its defi nition has not been established here. A company’s goals should not only be thinking about profi t. They should conduct their business according to the interests of different parts of society. Also the company and its employees is part of society. Al three parties should be involved in any project and get profi t from it.”

“CSR is not only about moral obligations. It impacts positively on the business”

Levan Lebanidze, General Director of Bank Constanta

LEVAN LEBANIDZE GENERAL DIRECTOR OF BANK CONSTANTA SPEAKS ABOUT GREAT ROLE OF CSR AT BANK CONSTANTA


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Advertiser: Bank Constanta. Contact FINANCIAL Ad Dep at marketing@fi nchannel.com



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The FINANCIAL

Madneuli is the only mining

company specializ-ing in copper pro-duction. The compa-ny’s primary focus is on copper. Over 60% of the company’s revenues come from sales of copper. JSC Madneuli specializes in open pit mining and is a holder of major licenses for mining.Company’s produc-tion makes up 10% of Georgian exports.Madneuli exports mainly to European Union countries. Currently Madneuli employs 1,080 work-ers.

“With the increase of renewable energy use the demand is growing for Madneuli products and ac-cordingly prices are pre-dicted to grow, says George Devadze, General Director of Madneuli.

“JSC Madneuli is the larg-est contributor and par-ticipant of social projects. The company spends close to 1 million GEL yearly on CSR and charitable events. In 2011 the company spent close to 1,000,000 GEL in this direction”.

Q. In your opinion what kind of CSR activi-ties and projects does society expect from your company?

A. Madneuli is well known in society as a supporter of sports, arts and has made its contributions in different spheres of society. We plan to continue our involvement in society.

As part of international group Geo Pro Mining, our company has involvements with international compa-nies so having that experi-ence will help us in the fu-ture to come up with some innovative projects.

Important priority for JSC Madneuli is environmental protection. The company has spent several million dollars on the moderniza-

tion of equipment, on new technologies that will make

the company more environ-mentally clean, safe and up to international standards.

Our company invests heavily in the development and modifi cation of equip-ment used in our operations which reduces pollution and harm to the environ-ment. On regular bases we conduct different activities regionally where we help de-velop parks, plant greenery in and around our facilities and towns where our opera-tions are based.

Q. What are the main projects being imple-mented by your com-pany within the frame-work of CSR?

A. Some of the projects JSC Madneuli has taken part in include develop-ment of the Bolnisi region.

Madneuli operates in this region, therefore it takes full responsibility for being involved in its development, restoration of its historic monuments and churches.

JSC Madneuli is a ma-jor supporter of Georgian sports and culture. It is the General Sponsor of the Georgian National Football team. The company spon-sors different Georgian Na-tional Dance companies too.

Education and child de-velopment is also important for the company. JSC Mad-neuli sponsors many dif-ferent projects every year. The company supplies lo-cal schools with computers, school supplies etc. It helps orphanages on a regular ba-sis. JSC Madneuli annually funds projects at the Ivane Javaxishvili State Univer-sity and also funds student exchange projects.

Considerably large funds are allocated for the selec-tion of qualifi ed staff. The company employs over 1,000 people. And for the growth of qualifi ed staff the company has invested mon-ey in the education of staff.

JSC Madneuli supports Georgian citizens living abroad: With the fi nancial support of Madneuli Geor-gian minority organiza-tions (Diasporas) received Georgian literature and

books, and facilities were built for their use. Within the framework of support of the Georgian Diaspora, JSC Madneuli contributed to the Project Association “Let Us Live Together”.

One of the foremost tasks

in Georgia is the widen-ing and attracting of For-eign Direct Investments. As Madneuli is one of the best examples of implemented invest ments in Georgia, the company decided to extend its responsibilities toward promoting FDI in Georgia and has participated and fi -

nanced several investment promotion forums there-fore.

Q. How important is the key principle of CSR for your company, which means that the company, society and

environment have to benefi t to the same ex-tent?

A. I think we have achieved exactly this. Our involvement in social proj-ects exactly benefi ts the local community, society, environment and country’s economic stability. Having a

socially responsible compa-ny is yet another indication of JSC Madneuli and Group Geo Pro mining being one of the best regarded compa-nies internationally.

Q. Do you have a sep-arate CSR department and Manager at your company in charge of CSR activities?

A. Our CSR activities are part of the department headed by Tamar Liluashvi-li, Deputy General Director for International and Public Relations.

Q. Does your com-pany publish summary reports once in a while and how accessible is it for society?

A. Yes we do reports an-nually where we have an overview of all our projects.

Q. Do you carry out some special CSR train-ing? Do you invite inter-national organizations for CSR development?

A. I have attended confer-ences specially dedicated to CSR and from my previous experience working for a non profi t organization in the United States I have a good sense and understand-ing of the concept of CSR and try to implement it in our company fully and I think we have achieved that and have gained a name as the most charitable compa-ny in Georgia.

Q. Do you cooperate with competitor compa-nies in terms of imple-menting CSR projects?

A. No we do not. We have our understanding of CSR and we try to work with that. We are glad to see other companies following our example and becoming involved in such projects.

Q. How much do CSR activities help your company to succeed?

A. Of course such heavy involvement in CSR is great for the company. All of our activities in this regard help strengthen our environ-ment and the countries we operate in. So having a strong economy is of course great for our company.

Q. In your view, does CSR really increase the number of a company’s customers?

A. In our case our custom-ers are not individuals, our production is sold on the commodity markets. Our purpose for such activities is not the increase of custom-ers, rather keeping a strong and healthy company.

Q. Madneuli has a ser-vice of health and ecol-ogy. What does that mean? Please could you tell us about this?

A. Employees of Madneuli are insured by Aldagi BCI insurance company. Two medical centres are also serving employees 24 hours at our company.

Special department at Madneuli is implementing ecological monitoring in ar-eas of our operation. Results are reported to the Ministry of Environmental Protec-tion of Georgia.

In 2011’s turnover of Madneuli is around 75 million USD “Environment is our

priority but other projects in education, sports, arts and other

spheres are also of great importance to us”

Madneuli Spent 1,000,000 GEL on CSR Activity in 2011

George Devadze, General Director of Madneuli


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Advertiser: Quartzite. Contact FINANCIAL Ad Dep at marketing@fi nchannel.com



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Razidor Code of Business EthicThe FINANCIAL

By TAKO KHELAIA

Responsible busi-ness is one of the main parts of the hotel’s corporate

strategy, Ekaterine Lomid-ze, HR Manager of Radis-son Blu Iveria says. In 2010 the hotel managed to reduce water and electro energy consumption by 10%. Ho-tel has implemented energy saving devices. Company now is actively promoting Green Business principles among its employees and partners.

According to Lomidze, the hotel’s General Manager is actively involved in respon-sible business activities.

“Without his help and devotion we would not be able to do many projects. He always sets an example for our employees and mo-tivates us through his own actions. Usually the success of certain activities depends on the involvement and support of the management team. Mr. Turhan has an unwritten rule: if we gather money for charity he con-tributes at least the same amount which was gathered by all our employees com-bined,” Lomidze said.

Each Radisson Blu hotel has a Responsible Business Coordinator and Respon-sible Business Committee. The hotel has a special an-nual budget allocated for CSR activities.

Radisson Blu Iveria has been involved in many proj-ects in terms of CSR such as: providing the home for the elderly Satnoeba with food and different house-hold products; participating in Earth Hour; participating in World Clean-Up Day and World Animal Day: an ac-tion held together with Dog Shelter Georgia; supporting the 2nd Annual C.O.A.T.S community outreach proj-ect; a paper recycling proj-ect for its employees.

The year 2011 has been quite successful for the Radisson Blu Iveria Ho-tel. According to Atakan Turhan, General Manager

of Radisson Blu Iveria, the hotel has much increased its market share during 2011. Compared to last year demand at the hotel has in-creased by about 45-46%.

“Social Responsibility is a part of our award winning programme Responsible Business. It is our company philosophy. The Respon-sible Business programme was designed in 2001 and ultimately guides us on per-forming business in a more responsible way. Besides respect for social and ethical issues within the company the programme also focuses on the health and safety of guests and employees. It is reducing the hotel’s nega-tive impact on the environ-ment,” Lomidze said.

“Rezidor’s ethical culture and Code of Business Eth-ics is introduced to each employee through the liv-ing Responsible Business training programme. We are proud to have been se-lected by Ethisphere In-stitute (USA) as one of the World’s Most Ethical Com-panies for the second year in a row (2010, 2011),” Lo-midze said.

“At the beginning of each year we are required to pres-ent a Responsible Business action plan which includes activities directed toward Social and Ethical Respon-sibility as well as Environ-mental Responsibility. All this benefi ts the company as well as society,” Lomidze said.

In terms of CSR the ho-tel’s Gingerbread House project can be considered one of the most innovative projects at the Radisson hotel. The project consists of two parts: the fi rst part is decorating a gigantic gingerbread house located in the lobby of the hotel. Everybody is welcome to participate in this activity. All they need to do is bring a toy for the US Marine Corps Toys for Tots pro-gramme.

“These toys are distribut-ed among orphanages. Peo-ple can also donate money to different charity organi-zations. This year Radisson

helped the Red Cross Geor-gia Society and corporate charity organization Child-hood. The second part of the project is ‘Bake, Make, Dec-orate’, whereby children of ages 6-9 can visit the hotel and use their imagination to decorate their own mini gin-gerbread houses with sweets and cookies. Each school brings us products which are sent out to the charity organization Catharsis,” Lo-midze said.

“We are well aware of the negative impact we have on the environment and be-cause of that we try our best to reduce it. In general 207 hotels per day are produc-ing the same amount of CO2 as 68,157 households and 80,184 cars. Because of that we try to reduce our usage of electricity, water and our production of waste,” Lo-midze stated.

“We have implemented energy saving devices -

light bulbs, timers, low-energy mini-bars, keycard controlled electricity. Our meeting rooms have natu-ral daylight; sensor tabs in all public area toilets; dual fl ush toilets; a Towel Pro-gramme for our guests; paper recycling system for our employees. The list goes on,” Lomidze stated.

Responsible Business training is mandatory for every single employee of Radisson Blu Iveria Ho-tel. This training has to be completed within the fi rst month of employment.

“100% of our staff mem-bers as well as our casual employees have undergone this training. We also have mandatory Leading Re-sponsible Business training for Managers and Depart-ment heads,” Lomidze said.

“Even though we have not done a joint project yet we cooperate with our competitors. Social respon-

sibility is a sphere where together we can accomplish more and which cannot tolerate competition. Per-sonally I feel huge support from my colleagues from all international hotels in Tbilisi. We have discussed the possibility of a joint project and I really hope that in 2012 we will be able to launch it together,” Lo-midze said.

“We are trying to develop an action plan where all as-pects of CSR are covered. Part of our actions will be directed toward Social and Ethical Responsibility (cov-ering Guests, Employees and Community) and part of it will be directed toward Environmental Responsibil-ity,” Lomidze said.

Green Business at the ho-tel is becoming more and more important as time passes, says Atakan Turhan, General Manager of Radis-son.

“One of our main concepts is Responsible Business. Re-sponsible Business includes the training of staff, our cus-tomers and shareholders in order to make them under-stand responsibility towards the community, nature and environment around us. We measure our consump-tion of water, electricity and waste production. We have targets to decrease them which we hope to achieve by consuming less and us-ing energy more effi ciently,” Turhan said.

Due to increased de-mand, Radisson offi cials have started discussing plans for opening a second hotel in the city. There are projects being discussed within both brands of the network, Park Inn by Radisson and Radisson it-self. Mr. Turhan told The FINANCIAL that hotel of-fi cials will soon have inter-esting news for guests.

THE RESPONSIBLE BUSINESS PRACTICES OFTHE HOTEL: We respect the law; We show respect for all per-sons in all situations; We think ethically; We act fairly; We do not discriminate against anyone for any reason; We are honest and transparent; We are loyal to our employer, We do not exploit the company’s resources; We think of safety at all times; We take care of the Earth.The Social and Ethical Responsibility of the hotel includes: a big choice of healthy food; fi tness and wellness centre; secure environment; ten rooms for disabled guests with access to all our F&B outlets; non smoking fl oors.


Ekaterine Lomidze, HR Manager of Radisson Blu Iveria Hotel


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In 2010-2011 TBC Bank pursued the following priorities of Corporate Social Responsibility:• Renewal of historiacal and architectural monuments;• Art and culture (literature, cinema, classical music, photography);• Helping mountain regions;• TBC Fund (aid for IDPs);• Other social programs.

RENEWAL OF HISTORICAL AND ARCHITECTURAL MONUMENTS

In 2010 TBC Bank financed the restoration of historic stable of royal nobleman, Ivane Bagrationi (Mukhranbatoni), in the village of Mukhrani. Along with the original design, the functions of the stable were also restored and now it is a high-class working stable equipped in accordance with modern standards and provided with appropriate infrastructure.

Churches and monasteriesTBC Bank keeps up protecting and restoring historical and architectural monuments. In 2010 – 2011

the bank fi nanced (partially or fully) the following projects: • Purchase of a piece of land for a cathedral in the eparchy of Great Britain and Northern Ireland;• Improvement of living conditions for nuns at Phoka monastery;• Renewal and equipping of Gudarekhi monastery; • Construction of the Virgin Mary Cathedral in Poti;• Purchase of bells for the Ruis-Urbnisi monastery;• Construction works of Lady Day monastery in Bolnisi eparchy;• Renovation of the St. Barbare monastery;• Construction of the church in the eparchy of Tianeti and Pshav-Khevsureti;• Construction of St. Nikoloz church in Lagodekhi;• Considerable participation in creation of the century icon Hope of Georgia;• Construction of David the Builder Cathedral in Khoni-Samtredia eparchy.

ART AND CULTURESaba

The 9th annual literary prize Saba was held on July 10, 2011. Today Saba is considered to be the most prestigious literary prize in Georgia and the Saba awards ceremony has become a pre-eminent literary event within the arts community.

Saba was founded in 2003 by TBC Bank. The goal of the literaty prize is to reveal and reward the best

TBC BankThe Best Corporate Citizen of Georgia

SUMMARY OF SOCIAL ACTIVITIES OF 2010-2011



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works and authors of the previous year through nine different nominations. TBC Bank fully fi nances the project and also undertakes its organization and implementation.

The grand awards ceremony – the culmination of the project was aired by one of the most highly-rated television stations in Georgia, Rustavi 2.

Since the foundation of Saba awards, it has been given to 74 authors and the amount of awarded monetary prizes made up GEL 240,000.

TBC GalleryTBC Bank has successfully been one of the most important cultural centers

in Tbilisi. Around 70 events including presentations of books, fi lm and music albums, art and photography exhibitions, concerts and special art evenings were held at TBC Gallery last year. Today TBC Gallery is one of the most active and prestigious galleries in Tbilisi.

TBC Gallery has been functioning in Tbilisi since 2005. It has gradually ex-panded in recent years and its affi liated galleries were open in Signagi and Ba-tumi branches of TBC Bank and they also have become cultural centers within the regions of Georgia.

Thousands of people attend the events in TBC Galleries each year which greatly contributes to the promotion of Georgian art. Since January, 2011 TBC gallery hosted several exclusive concerts/evenings in its gallery. Distinguished musicians such as Eliso Bolkvadze, Tamaz Kurashvili and Tea Chkuaseli have performed exclusive concerts specially for the TBC’s VIP guests.

Photo competition KolgaTBC Bank has fi nanced the photo competition Kolga for seven years. The

goal of this competition is to encourage and promote professional and ama-teur photographers and support development of photography in Georgia.

Book Publishing In 2010-2011 TBC Bank fi nanced (partially or fully) publishing of around 10

very interesting and important books among which were:• The book-album - Following Vazha’s Foot-Steps;• The book - I built the Churches;• Scientifi c edition of Georgian Encyclopedia – 100 Georgians Abroad; • The high polygraphic quality album of Niko Phirosmani’s works;• Catalogue of the painter Irakli Sutidze;• “Polyphony of Georgian Taste” by Rusudan Gorgiladze, etc.

Classical musicIn 2011 TBC Bank upheld its tradition and provided fi nancial support for the

competition of young musicians. TBC Bank has sponsored this competition fi ve years on end. The competition is organized by the Tbilisi State Conservatoire and the Fund of Musical Competitions of Georgia. The goal of the competition is to promote young performers and classical music in general.

Cinema and theatreIn 2010 TBC Bank was a co-funder of the documentary – “Will there be a

Theatre up there?!” by Nana Janelidze and the fi lm - Nest by young director Tornike Bziava. TBC Bank was one of the main sponsors of the documentary about the talented young actor Niko Gomelauri. In 2010 TBC Bank fi nanced staging of the play Secret of Macropulos by famous playwright Chapek, at the Theatre on Atoneli.

HELPING MOUNTAIN REGIONSIn 2010-2011 TBC Bank supported implementation of several projects

aimed at promoting mountainous regions of Georgia and supporting develop-ment of tourism there:

• The project: Development of Cultural Tourism in Khevsureti;• Renewal of the unique architectural complex - tower #1 in Shatili, Khevsureti; • Financial support of the summer tourist camp Zeta in the Kazbegi region.

TBC FUNDTBC Fund , founded by TBC Bank for extending aid to the victims of the war

of August 2008, actively continued its work in 2010-2011. In 2010 the fund implemented the following projects:

• Professional training for young IDPs in Tserovani. Training and profes-sional practice is carried out in leading Georgian companies where the young IDPs will have a chance to be employed afterwards;

• The project - “Healthy generation in Tserovani” – fi nancing sports (karate) section. The goal of the project is to promote healthy lifestyle among the internally displaced children and to support their fi tness. (Europe Championship in karate was held in Istanbul in November of this year and Georgian Guram Zaridze won the fi rst price and the gold medal);

• Integrated lessons in the secondary school of Tserovani. The lessons were given in English by the professors of Tbilisi State University;

• Guardianship of the two children physically injured during the war;• Supporting training of young IDPs in the Akhalgori house of culture and

other art circles;• Psycho-social support of young IDPs. The aim of the project is to relieve

the stress the young IDPs resulted from the war and to provide psycho-logical rehabilitation with special sessions and art-therapy;

• Creation of the fi rst ever wind orchestra of young IDPs. The project is be-ing implemented with the support of Tbilisi State Conservatoire. Teachers from the conservatoire provide lessons for the young musicians. TBC Fund has purchased the full package of instruments for the wind orches-tra and fully fi nances the training courses.

OTHER SOCIAL PROGRAMS• TBC Bank has recently renovated Maternity House of Patriarchy in accor-

dance with modern standards and already 104 children were born there.



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Grant Thornton’s Advice to Companies

The FINANCIALBy MARIAM PAPIDZE

Nelson Petrosyan, the Director of Grant Thornton LLC believes that many businesses in Georgia have socially responsible practices but do not necessarily qualify them under the defi nition of CSR. “I think though that a very positive shift is taking place and businesses are beginning to recognize the impact of CSR activ-ity on their fi nancial and commercial success,” he told The FINANCIAL.

Grant Thornton International is one of the world’s leading organizations of independently owned and managed accounting and consult-ing fi rms. Grant Thornton offers partner-led and personalized services, in conformity with high professional standards, dedicated to the needs of the public sector and growth-oriented businesses.

Grant Thornton Georgia is a multi-profes-sional group of public accountants and audi-tors, specialist advisers in fi nance, business and management, as well as tax and legal advisers.

Q. What are the main driving incen-tives for businesses to implement CSR policies? What are some factors that drive Georgian businesses to be socially responsible?

A. Let’s look at this question from the overall perspective. Businesses are very much in the public eye as regards the ethics of their busi-ness practice. It may take years, if not decades, to build a solid organizational reputation. Now, this year, 89 percent of businesses surveyed in Georgia cited public attitudes and building brand as the key driver towards more ethical business practices. This is one key driver.

The second most important driver is the re-cruitment and retention of staff. This indicates the importance to 86 percent of Georgian busi-ness in attracting the right staff and keeping

them happy.Whilst saving the planet is considered to

be one of the least important drivers of corporate social responsibility globally,

this issue remains a great matter of con-cern for business in Georgia (81 per-

cent), who are most concerned with this factor.

Q. What is the role of CSR in the life of Grant

Thornton?A. Again, let’s take a step back. First of all,

it is important to un-derstand the differ-

ence between CSR and philanthropy. Just recently, in October 2011 the European Com-

mission published a new policy on

CSR, where this con-cept is defi ned as The

Responsibility of Enter-prises for their Impacts on

Society.This policy suggests that in order to fully

meet their corporate social responsibility, en-terprises should have in place a process to in-tegrate social, environmental, ethical, human rights and consumer concerns into their busi-ness operations and core strategy in close col-laboration with their stakeholders. Naturally, this process is closely connected to several fac-

tors, such as the size of the enterprise and the nature of its operations.

In our business, in the area of professional audit and advisory services, the impacts we have on our stakeholders lies in the very core of our activity.

One of the main features of CSR within Grant Thornton is the fi rm’s genuine commitment to encourage and sustain professional develop-ment of the staff, assist them in attaining pro-fessional qualifi cation. Within our offi ces we have a multicultural and diverse working envi-ronment, with full respect for the rights of our people.

Q. What CSR activities do you imple-ment?

A. When CSR becomes an integral part of the organization all activities are planned and implemented in this light. I would like to high-light one. In Georgia Grant Thornton facilitates the implementation of International Business Report (IBP) providing insight into the views and expectations of over 11,000 businesses each year across 39 economies. Throughout the year we provide the public with up to date in-formation on such industries as cleantech, food and beverage, construction and real estate, hospitality, transport, manufacturing, retail, fi nancial services, health care and technology. Grant Thornton donates 5 USD to UNICEF for every completed IBR questionnaire and the total donation for the period of 4 years has amounted to 188,400 USD. For the past three years already, for the purposes of reducing pa-per consumption Grant Thornton has shifted from the printing of hard copy greeting cards to electronic ones. We hope that this initiative will also promote similar practices among our clients and partners.

Q. Do you feel that CSR practices are improving in Georgia?

A. Within the frame of IBR mentioned above, we survey 100 business in Georgia, also includ-ing questions on their CSR activity and have this year issued a special report on CSR prac-tices across the globe. In our part of the world CSR is becoming more and more widespread.

In an increasingly crowded and dynamic marketplace, businesses globally are becoming more aware that adopting a proactive approach to wider corporate social responsibility issues can help them to stand out in the minds of em-ployees, consumers and potential partners.

Q. What plans does Grant Thornton have in respect to CSR for the next year?

A. We are very keen to integrate CSR into all levels of our activity. We plan on joining the United Nations Global Compact in Georgia and commit ourselves to respect the ten principles of the Compact and publicly report on their implantation. Grant Thornton will continue to run the IBR survey and donate to UNICEF next year as well. High on our agenda will continue to be education and professional development of our employees as well as young professionals within our sphere.

Q. What would you advise to Geor-gian businesses?

A. It is diffi cult to advise since we believe CSR is a value and comes from within the organiza-tion. When it truly becomes a value, it is impos-sible to continue without it. So going forward in the Georgian business community, socially responsible behaviour should not be an act, it has to be a habit.

At Grant Thornton we see ourselves as part of a community and have committed to be a so-cially responsible employer, partner and orga-nization. We also realize the potential commer-cial benefi ts of reporting on CSR activity and encourage Georgian businesses to pay close at-tention to CSR in this light also. A competitive advantage exists for those businesses which can demonstrate leadership in implementing socially responsible and transparent practices and seize the opportunity to attract and retain skilled workers, build brand value and secure future contracts with multinationals who inter-estingly and more and more these days, adopt strict CSR guidelines in selecting their suppli-ers and business partners.

“Socially responsible behaviour should not be an act, it has to be a habit,” says Nelson Petrosyan, the Director of Grant Thornton LLC.


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The CSR Activities of Geocell

Modern local mobile commu-nications company Geocell is committed to a number of fac-

tors, which are as follow:• To be a modern, state-of-the-art lo-

cal mobile communications com-pany.

• To be an innovator on the telecom-munications market of Georgia by introducing the latest technologies and a wide range of services.

• Being customer-oriented.• Playing an important role in the

sphere of economy development and Corporate Social Responsibility in Georgia.

In the process of achieving success, it is very important for the company not to forget its most important aims: to take care of society and the country overall country and to be a part of its economic development and corporate social re-sponsibility. In light of these goals the company has initiated many projects to preserve and save cultural heritage, to support the sphere of education and sport, to facilitate the integration of peo-ple with disabilities into society and to protect the environment.

The number of Geocell projects in the aforementioned spheres is increasing annually.

In 2011 the company launched a very important project, erecting a non-com-mercial Geocell base station. The com-pany installed the station on Shiraki pastures and fi nally resolved the com-munication problem for shepherds as well as contributing to the development of the whole sphere.

The company continued another of its projects “We can hear you” which aims to make life easier for people with hear-ing impairments and to help with their integration in to society.

With the support of the company, the fi rst fl oor of the connection building was repaired. Two rooms were refurbished for cultural-creative events and confer-ence meetings. This will make daily life for this category of people that much more active.

Geocell continued its photo project with young photographer Ana Goguadze “Be my Ann” where ten disabled children and ten famous people came together and united around one idea. The idea re-mained the same - “Let’s adapt the coun-try to the needs of disabled people”.

“Plastic ruins the environment!” “Do not litter the countryside with plastic!” “Let’s take care of our environment!” - these slogans were promoted by four extreme sportsmen during an original,

effective event aiming to protect the en-vironment which was sponsored by Geo-cell.

In 2011 Geocell sponsored the unique photo exhibition “Gigo Gabashvili as a Photo Artist” which presented this great-est Georgian artist from a new and previ-ously unknown side.

In 2011 Geocell supported the Lazic Music Festival in Batumi, Geocell also became a friend and supporter of Telavi Vazha Pshavela Theatre.

On June 1, together with Geocell, the Sun Festival was held which aims to unite all children regardless of their physical abilities or appearance.

Geocell celebrated the beginning of the new academic year with the grand project “Geocell for a Successful Future”. Under this slogan, the company refur-bished two ‘Classrooms of the Future’ in two public schools (in Tbilisi and Kva-reli) equipped with the most up-to-date technology. The project aims to contrib-ute to the upbringing of successful future generations.

Geocell remains committed to the aforementioned directions and will of-fer its customers and society many other helpful and effective initiatives in the years to come as well.

Company was founded in September 1996. On March 15, 1997 the fi rst mobile call was originated in Georgia through Geocell network.Today Geocell offers a wide range of services based on the most up-to-date technologies and international experience to more than 2 million subscribers.Geocell provides its customers with all the innovative services, which are available by the international GSM/UMTS standards. Most of these services were fi rst introduced by Geocell on the Georgian telecommunication market.At present Geocell covers 98% of the populated territory of Georgia, while outside the country Geocell subscribers enjoy roaming services in more than130 countries including those belonging to TeliaSonera group, which due to being under the same umbrella, offer exclusively low tariffs to their roamers.Today Geocell enables a high speed internet based on 3G and HSPA tech-nologies, which is available to 60% of population.Geocell plays an important role in development of Georgian economy. The total amount of investment made by the company starting from the very be-ginning of its operations is equal to 420 million USD.Company developed new working places.Geocell fi nance system operates under IFRS and SOX international standards.Company Vision: To be the modern company with local traditions.Company Mission: To provide our customers with services based on the latest technologies, make peoples’ mobile communication as simple and as comfortable as possible, to be the indispensable part of the country’s life, contributing to its economical growth and social responsibility.

Geocell is member of one of the strongest telecommunication holdings, Telia-Sonera.Nowadays TeliaSonera operates in 20 countries worldwide, and serves more than 135 million people. TeliaSonera is the leader in the Nordic and Baltic coun-tries, it also operates in Spain and Eurasian countries. International experience and level of employee development provides a leader’s position, while success is due to the world class services and network. Combination of international ex-perience and local traditions is the key success for offering high quality services to customers. TeliaSonera was the fi rst in the world to offer 4G and launch 3G on the Everest.A successful operation of TeliaSonera in Georgia is represented by Geocell

Osman Turan, General Director of Geocell

GEOCELL Part of TeliaSonera Group



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CSR Activities Increasing Gurieli Customer Loyalty


Due to a solid busi-ness strategy, Geoplant, one of the leading

tea producers in Georgia, known by many for its pack-aged tea under the brand name “Gurieli,” has man-aged to take over a large share on the Georgian mar-ket recently. Foreign tea importers have held leading positions for many years in Georgia, but local tea pro-duction and consumption is fi nally taking off. Gurieli now exports 460 tons of bulk tea to USA, Germany and Ukraine annually. Com-pany says, commitment to corporate social responsi-bility is a key driver of their business development.

Gurieli and Rcheuli (econ-omy-class tea produced by Geoplant) hold 22.7 percent of the market nowadays. Before their entrance, the share of Georgian tea in the whole market was only three percent. The major tea importer countries are Azerbaijan, Sri Lanka and the United Arab Emirates.

Geoplant exports both packaged and bulk tea. 200 tons of bulk tea is exported to the USA, 200 tons to Germany, 60 tons to the Ukraine and 40 tons to other countries. Packaged tea is mainly exported to EU countries.

“Only 10 percent of our packaged tea is exported from Georgia, 90 percent is used in the country,” Mziko Lapiashvili, Chief Market-ing and PR offi cer, Geoplant said. “Our goal is to decrease the amount of import of tea, and to increase export, al-lowing us to introduce Geor-gian tea , which the country has been renowned for. The process has started, and we are looking forward to ob-serving the progress.”

The company will be in-troducing Gurieli fruit tea in just a couple of weeks. Cur-rently the brand produces four classic fl avours of tea, but increasing the assort-ment will allow pleasing the customer of wider variety of needs and wants.

Demand has risen for quality products, especially as various research studies have shown that the quality of some teas is low. As such, in the forecast period de-mand for more quality prod-ucts will grow, especially as consumers will increasingly demand new fl avours and will seek out novelties.

Georgia produced 5,000 tonnes of tea in 2008 ac-cording to industry sourc-es, representing a sharp nose-dive compared to the 23,000 tonnes the country produced in 2001. Under Soviet rule, according to the Statistics Department, the country produced over 500,000 tonnes of tea, serv-ing as the world’s fourth-largest producer. However, in 2010, the performance of Georgian manufacturers

improved. The main advantage of

Georgian tea is its price/quality balance, says Euro-monitor, global marketing research company head-quartered in London.

The market of packaged tea is 800 tons in Georgia. But real usage of tea is much more, as people collect har-vests individually and sell them at market without packaging.

“For us, the center of the business equation is the customer. We have replaced the traditional 4 Ps with the 4 Cs, where product devel-opment is fundamentally based on the customer’s needs and wants. ” Lapias-hvili said.

“Our business is extreme-ly community-oriented. We are happy to offer a helping hand to community service projects, exhibits, concerts, and other social activities, which, in my mind, are key to creating a sustainable, productive, and promis-ing society. As a result, we fi rmly believe that Gurieli

will continue to establish it-self as a customer and com-munity-friendly brand, and naturally gain popularity among customers, suppli-ers, and business partners.”

“A commitment to social responsibility is central to our company’s identity and purpose,” said Lapiashvili. “The company strives for authenticity, integrity and purity in our products and in the way we do business. This means doing everything for the sake of honest relation-ships with our employees, partners, customers, and with the communities in which we do business.”

Lapiashvili says, the so-cial responsibility is the fundamental idea behind the business itself. Geoplant employs 80 individuals dur-ing the whole year and 325 people during the harvest period.

“Tea production is a sea-sonal activity and is consid-ered an unstable job in many countries,” she explained. “But the way we conduct business is making sure that

our employees are occupied and motivated year-round. The idea behind leasing the land to private individuals is to motivate them, rather than expect any income out of the arrangement. We want develop a sense of ownership, instead of feeling like they are merely working for someone.”

The arrangement resem-bles a social project of the UN in the 90s, when fl our and sugar was distributed to residents of Guria to moti-vate them to take care of the tea plantations.

As well as the work force Geoplant employs, the sister company, Geofl ower also buys fruit from the Racha-Lechkhumi population.

Geoplant is one of the few companies, which publicly publishes its fi nancial data from time to time through no particular obligation.

“Transparency of our fi -nancial data is a key aspect of our conducting business. We are really honest with our clients. We would like to communicate with our cus-

tomer,” Lapiashvili stated.Financing and caring for

a small family-style foster home in Ozurgeti; a project that assists child victims of the Georgia-Russia war; and a cancer screening centre in Kutaisi are but some of Geo-plant’s social projects.

“The house in Ozurgeti which we have befriended is a part of the Social Service Agency project, My Fam-ily,” Mziko Lapiashvili said. “The main idea of the project is not solely to attend to the children’s day-to-day needs, but simultaneously help them with social integration, making them feel part of the community. While they par-ticipate in cultural, recre-ational and other activities, get a chance to learn how businesses are run, they feel their part in the community.”

“We work with the ethos that we are responsible for the community. Being re-sponsible has resulted in the production of ecologically pure tea without any her-bicides or pesticides,” she continued. “We fi rmly be-

lieve that with every success comes the responsibility of making everyone a part of it. We are committed to the idea of enriching prosperity and health in a progressive man-ner, and envision achieving this through various activi-ties in the fi elds of education, health and heritage. Social responsibility should be an integral part of the wealth creation process, enhancing the value of wealth creation to society. Therefore, while taking the company to new heights, we believe in im-parting the same growth to the community at large.”

Tea has numerous health-related advantages. Geor-gian tea is especially distin-guished in terms of being healthy because of the cli-mate in the country. Tea in Georgia is preserving its positive nature because of the natural conditions of its cultivation. Therefore Geo-plant is committed to pro-moting the culture of tea as an integral part of a healthy and natural lifestyle.

“Gurieli Tea Time, which will be launched in January, will allow young people and adults across the city to en-joy Gurieli tea free of charge for an hour. As we spread this tradition to numerous different locations across Tbilisi, we hope to promote the idea of intellectual, alco-hol-free conversation after school, work, or other daily activities.”

Geoplant cares about increasing general aware-ness about CSR in society as according to Lapiashvili, public expectations of CSR tend to be mostly towards so-called big businesses as well as from the Govern-ment. A recent UN study showed that an overwhelm-ing majority of Georgian cit-izens considers big business to be almost as responsible for economic development and addressing social and socio-economic issues as the Government. Small and me-dium enterprises are mostly viewed as less responsible or signifi cant in regards to this.

“The future development of public awareness, which we all can contribute to, will hopefully heighten public expectations of CSR, and promote universality of the concept--regardless of size and profi t. After all, we are all equally responsible for the upward mobility and growth of our community,” she claims.

“The main idea behind the Gurieli brand is reviving the departed fi elds, contribut-ing infrastructural develop-ment, creating jobs and gen-erally promoting activities in Guria and Samegrelo. Our manufacturing creates value for the company and cus-tomer. We aim for our tea to be ecologically pure. From the company’s onset, we have been an environmen-tally conscious company dedicated to the principles of the natural production of tea. Therefore, being en-vironmentally conscious is one of our top priorities.”

Mziko Lapiashvili, Chief Marketing and PR offi cer



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Buy Natakhtari Lemonade and Help Children Deprived of Parental Care

“Take care of future with Na-takhtari lemonade”- this was the slogan of joint press conference of Natakhtari, Patriarchate and Our House – Georgia Association held at Courtyard Marriott where details of the interesting and large-scope Project, planned with Natakhtari Lemonade, were an-nounced to journalists. The pur-pose of this campaign was helping the children deprived of parental care.

Natakhtari Company is an ac-tive business organization distin-guished by its social responsibility. Many campaigns have been con-ducted under its initiative, howev-er, `Take care of future” is the fi rst largest charity program organized for assistance of these children.

Tornike Nikolaishvili, Natakh-tari’s Marketing Manager:

– Natakhtari has planned such a large-scope Project with Patri-archate and Our House – Georgia Association for the fi rst time. In the past we used provide children deprived of parental care with var-ious presents (products, clothing, invitations to celebration centers), however, we now realized that it was not suffi cient and decided to think of their future life as well. After they become 18, we would like to employ them and help them in integration in the community, so that they are able to live in-dependently. Briefl y saying we don’t want to give them fi sh but we would like to teach them how to fi sh. When they get 18 and have to leave their shelters – special institutions, they shouldn’t be left in a street. They need to start full life. This project is not one –time short-term project, we are plan-ning to implement several inter-esting plans.

– Will the Project be fi nanced by funds derived from product sale?

-Yes, From November 15

through February 15 from each bottle of sold lemonade, in par-ticular, 1 Tetri from 0.5l bottle, 0.3 Tetri from 1l bottle, and 0.5 Tetri from 2l bottle will be allocated for project funding. We shall see how active the public will be and what amount will be collected during this period. This problem will not be resolved only in 2013, as it is currently very acute. Therefore, it is necessary that the public, as well as media gets active in order to help children. We will prepare re-ports on collected funds. Authen-ticity of the amount and its corre-

spondence with the sold products will be confi rmed by Price Water-house Coopers, the world’s N1 au-dit fi rm.

– What do you expect from this project, what amount will be col-lected?

– It depends how informed the public is. According to our fore-casts, approximately GEL 100,000 will be collected. However, every-thing depends on activity of your colleagues and we would like to thank you very much for your in-terest.

Sylvia Borovets, Polish Repre-

sentative of Our House – Georgia: – The program similar to Na-

takhtari project format has not been implemented in Georgia yet. This is the fi rst one and we all hope that Georgian society will not stay indifferent towards the chil-dren deprived of parental care… In Poland many such projects are successfully being implemented under the initiative and with par-ticipation of local companies.

Lela Merabishvili, Representa-tive of Our House Association:

– Commencement of this proj-ect is very important for children

deprived of parental care, as each of them needs our assistance. This campaign will allow us to create better future for them. Abandoned children need normal, comfortable family environment, which, unlike kids grown up in common fami-lies, is a colorful dream for them. In the event of public activity and support, this project will enable us to teach these children not only craftsmanship but also give them opportunity to study at vocational institutions; so when they become 18, they can make choice to ac-quire the profession in which they are most talented. Afterwards they will be able to live independently and cope with problems. Our goal is also to assist children who are not able to work. This will not be team teaching or employment principle. An individual approach will be taken in case of every child to fi nd out what they can learn and do. Of course, this is related with big problems and fi nances, but hopefully with the public support we will manage.

Father Shalva Kekelia, Dean: – I would like to thank Natakh-

tari for such a merciful endeavor, as well as Association Our House. I would like to tell the public that taking care of others is a great mercy. A person has hard time when he/she becomes 18 years old and is left in front of problems alone. And it is extremely painful for parentless children. Can you imagine how hard it is when a person has occupation but is un-employed? It is twofold hard when you have neither occupation nor a job. Very often, His Holiness [Patriarch Ilia II] mentions in his sermons that ‘it’s not necessary to give man a fi sh, more important is to teach him how to fi sh. May God enable everyone to do such good-ness.

Tornike Nikolaishvili, Marketing Manager of Natakhtari


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“Business ethics is still a must”. According to Michael Cowgill, President of Georgian-American University, Eurasia Partnership Foundation is supporting the devel-opment of a new CSR course which will be taught in the leading Busi-ness Schools in Georgia.

AmCham is now the offi cial repre-sentative of the UN Global Compact Georgia Network aimed at foster-ing a sound CSR culture throughout Georgia. The United Nations Global Compact is the largest corporate so-cial responsibility initiative in the world, encompassing about 7,700 members in 130 countries.

“To estimate CSR activities in Georgia, fi rst, let’s defi ne CSR. On the simplest level it is an organiza-tion “doing the right thing”. That in-cludes doing the things that ensure success for the organization itself (clients, owners & staff) and most assuredly includes being profi table if that is the objective of the orga-nization. It includes legal and ethi-cal behavior and making decisions and using organizational resources (including profi ts) in ways that en-hance societal well-being – both in the short and long-term”.

Given that simple defi nition, I defi nitely see a growing trend in CSR awareness and activities from the actions of individual organizations, NGO’s, associations, UNDP’s Global Compact and the media attention, such as this special edition by the Financial.

Q. How companies in Geor-gia can benefi t from Social Re-sponsibility projects?

A. First, realize that although most of the CSR activities visible to society are implemented through projects, CSR should be thought of as a long-term strategy and process.

On a macro level, companies all benefi t by a stable and healthy so-ciety – which can be enhanced by such socially responsible projects. Although individual company re-turns from CSR projects are harder

to quantify, there is certainly a brand differentiation that comes from these activities.

Q. How does CSR affect on companies’ fi nancial success and generally can responsible business prevent the reces-sion? How Georgian society can support or encourage the development of Social Respon-sibility among Georgian busi-nesses?

A. I believe that society can help by giving more business to those companies that are more socially re-sponsible, which in turns also sets a standard of acceptance for all busi-nesses.

As to preventing a recession, there are too many external factors in play which outweigh the positive impact of CSR.

Q. How society can benefi t from Social Responsible Com-panies?

A. Society, especially through responsible organizations such as NGO’s, has a role in the success of CSR. In addition to what has been mentioned above in supporting so-cially responsible companies, the relevant NGO’s need to ensure a co-ordinated effort in determining the real societal needs, the priorities of those needs, and how best then to use the corporate resources available to meet those needs. Further, NGO’s should make sure that they qualify for the Government-approved list of NGO’s that are eligible to receive corporate funding (tax-deductible).

Q. What are the key direc-tions of CSR which should be defi nitely implemented? Why?

A. There needs to be more aware-ness of what other companies are doing, both here and abroad. There needs to be more of a focus on cor-porate governance, not just charity. As I mentioned above, I would also like to see more coordination among the NGO’s in determining societal needs and the best ways to meet those needs.

Q. Do you think that compa-nies should invite representa-tives of international NGOs to provide a more informed un-

derstanding of corporate re-sponsibility?

A. The more companies under-stand what is possible, the more will actually be done. I do believe that it is more effective if such international NGO’s collectively work through or-ganizations such as UNDP’s Global Compact and business associations such as AmCham.

Q. Social responsibility of companies in Georgia is often expressed in Charity actions and it does not include benefi ts of company itself. What is the solution for switching existing social projects into sustain-able activities?

A. You are correct that philan-thropy gets the center stage. But remember that charitable giving cannot occur unless the company is making suffi cient profi ts. More at-tention should be given to corporate governance.

As to sustainability, the compa-nies need to really need to know that the social projects are effective – both to their individual success and to meeting societal needs. This feed-back is another function the NGO’s representing society can provide.

Q. CSR might be considered a way of the brand differen-tiation. What are the ethical values that companies should use based on CSR? What are the corporate values that a company stands for in terms of CSR?

A. Ethics and values are intrinsic to a society – and are also dynamic. What was acceptable 50, 25 or even 10 years ago is not what is acceptable today. Most often the companies (and values) in Georgia are known and identifi ed by their owners or senior management. None of us have the ex-act same concept of what is the right thing to do in any given situation.

Knowing what is the right thing to do - being socially responsible is not easy. Senior managers have diffi cult decisions to make every day and the outcome of a decision is not always known. For example, does the brand recognition/differentiation that comes from diverting resources to

CSR activities provide a better long-term return than just the providing the owners more short-term divi-dends?

Q. How should companies build sustainable success in terms of CSR?

A. It must become a part of the corporate culture – even as the com-pany changes ownership, manage-ment and staff.

Q. How should companies develop employees and the future workforce to build suc-cessful working lives?

There is a concept in business called internal marketing which means treating employees as clients. Be aware of their needs and wants. Involve them in the CSR activities. Encourage them to volunteer when-ever and wherever possible. Employ-ees are well aware of their company’s actions. When they are a part of something good – they are also hap-pier and more productive.

Q. What actions should com-panies take to reduce climate change and prepare for a low carbon economy?

A. Most companies do not engage in activities that have a major affect on climate change or a low carbon economy. However, every organiza-tion can begin by at least thinking of ways to be more energy/environ-mentally conscious: effi cient light-ing, turning off devices when not in use, recycling paper, conservative water use, etc. Understand what you really can do – and do your part.

Q. Reporting is one of the main principles of social re-sponsible business. Though very few companies in Georgia make public their fi nancial in-formation. In your view what can encourage companies to start making pubic reports?

A. I don’t agree that “fi nancial” reporting is crucial to effective CSR. However, responsible PR is. What I mean is that for a company to ben-efi t from the brand differentiation discussed above, it needs to make the public aware of its values and CSR activities. At the same time it must be very careful in ensuring it is

not perceived as exploiting the very parts of society it is trying to help.

Q. What are the main chal-lenges and obstacles of CSR in business nowadays?

A. Understanding or estimating the return to a company’s bottom-line for CSR activities is very diffi -cult. Every decision has trade-off’s – and the uncertainty in how that decision affects short-term vs. long-term results and profi tability is often just a guess.

Q. What kinds of changes are necessary to be made within the company in order to make CSR the part of business?

A. It must be made a priority from the top down and understood throughout the entire organization. As such, it should be part of the com-pany’s mission & goals and appro-priately addressed in the strategic and operational plans and budgets.

Q. Do you think companies in the same sector (law, con-sultancy, mining etc) which compete in the marketplace should cooperate together more in matters of social and environmental need?

A. When I was in the energy busi-ness, I belonged to an association of energy companies that believed safe-ty was an industry-wide priority that was above the competitive level of individual companies. I see a similar need in CSR and one of the reasons AmCham has a CSR committee and why AmCham acts as the secretariat for UNDP’s Global Compact.

Q. Do you think the CSR mes-sage is being heard and acted upon only by large companies? Why should small and medium businesses implement the CSR activities?

A. I don’t think that is the case in Georgia. Admittedly, we hear more in the press about CSR activities in the larger companies, yet I know that many small and medium busi-nesses are just as involved. And for companies with limited resources, employee-sponsored programs are very effective. Industry-specifi c as-sociations can also help in coordinat-ing activities of smaller companies.

“Although I don’t believe there is yet a market for a degree in responsible business practice, there is definitely the need for courses in the subject,” R. Michael Cowgill, AmCham's CSR Committee Chair

“There is Need for Courses in CSR,” R. Michael Cowgill

Michael Cowgill, President of Georgian-American University


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The FINANCIALBy TAKO KHELAIA

Corporate Social Respon-sibility has become an inte-gral part of modern business. Nearly all big companies worldwide claim to be socially responsible. CSR has recently become the top priority of Georgian companies. Many of them are hiring CSR special-ists and integrating CSR prin-ciples in their company’s long term strategy. But local soci-ety is still not aware of what CSR really stands for.

“We believe that wherever we operate Georgia-wide, our activities should generate eco-nomic benefi ts and opportu-nities and enhance the qual-ity of life of our stakeholders; that our conduct should have a positive infl uence; that our relationships should be hon-est and transparent; and that we should be held accountable for all our actions. Our CSR policy focuses on six areas: Marketplace and Customers, Employees, Community and Society, Health, Safety and Environmental Performance, Business Partners, Control and Finance,” Company Wis-sol noted.

“We have a strong CSR strategy at the company. In-formation about our com-pany’s fi nancial data is always available and trans-parent. The Director of our Supervisory Board, Samson Pkhakadze always takes part in implementing CSR projects and is always involved in the activity,” said Rusudan Kbi-lashvili, PR Manager of Wis-sol.

British Petroleum, one of the world’s largest energy companies existing in Geor-

gia, pays much attention to CSR.

“We implement different projects in terms of CSR in-cluding development of local society, energy and factories. We have CSR Manager Ru-sudan Medzmariashvili who takes care of CSR projects. BP always publishes data of its sustainable development. We have a special annual budget allocated for CSR projects. General Manager of BP al-ways takes part in the devel-opment of CSR projects,” said Tamila Chantladze, Commu-nications Team Leader of BP.

“We are actively involved in the development of CSR at the company. We support a healthy lifestyle among Geor-gian people and are building a sports club. Members of Bee-line will have the opportunity to visit and use the club. We pay much attention to envi-

ronment protection projects and education development. We completely take in to ac-count the role of CSR. Under the initiative of our General Manager many projects have been implemented in this di-rection,” said Teona Bagda-vadze, PR Manager of Beeline.

Social Responsibility is a part of Radisson Blu Iveria Hotel’s award winning pro-gramme Responsible Busi-ness. According to company offi cials CSR is their company philosophy.

“The Responsible Business programme was designed in 2001 and ultimately guides us on how to perform our busi-ness in a more responsible way. At the beginning of each year we are required to pres-ent our Responsible Business action plan which includes activities directed toward So-cial and Ethical Responsibil-

ity as well as Environmental Responsibility and which benefi ts both company as well as society,” said Ekaterine Lo-midze, HR Manager of Radis-son Blu Iveria Hotel.

General Manager of Radis-son Blu Iveria is actively in-volved in Responsible Busi-ness activities. According to Lomidze the General Man-ager always sets an example for company employees and motivates them through his own actions.

CSR remains as one of the priority issues for Bank Re-public. “Many interesting so-cial projects are implemented for the benefi t of the society where we live and operate,” BR offi cials note.

“As always, during the last year, we have implemented a number of social programmes ultimately leading to the wel-fare of the most vulnerable

segment of society. Again we try to add value to the en-vironment where we work and operate. Traditionally Bank Republic has been one of the most active fi nancial institutions that has helped to introduce the innovative CSR concept to the business community. During 2010 our priority was to enhance so-cially responsible business activities and fi nance projects for the society, public and environment, care for our cli-ents, staff and shareholders,” noted the Bank Republic An-nual Report.

TBC Bank implements dif-ferent CSR projects in the di-rection of the rehabilitation of architectural buildings, art, culture, mountainous areas and social programmes. The Bank has a CSR Manager - Maiko Dzirkvelishvili. TBC Bank reports its fi nancial data

and has an annual budget for CSR activity development.

There are very few people in Georgia who properly un-derstand what CSR means or what the social responsibility of businesses is. CSR is now a trend at the “top level” but not with the majority of society.

“Businesses should be re-sponsible but I had no idea there existed a special Cor-porate Social Responsibility programme at any company in Georgia,” said student Ta-muna Gugberidze, 23. “So-ciety in Georgia should be informed about CSR. The media plays a key part in the education of society so fi rst of all media representatives should be informed about the means of CSR,” said Tamuna Gugberidze.

“I am sure that most of the media representatives in Georgia aren’t well informed about CSR. I myself don’t know what this system was created for,” said Temur Gag-nidze, 24. Temur is studying at one of the business schools in Tbilisi. “It would be much better if some trainings or even presentations would be held in Georgia specially for journalists to teach them why businesses should be socially responsible.”

“I had no idea about CSR before,” Mariam Machabeli, another student, told The FINANCIAL. “I am sure that most of my peers have no knowledge of it either. I think businesses are responsible for informing society and the me-dia about this system, in this way everyone can understand its meaning. Students should be taught about CSR as well,” Mariam believes.

Georgian Society Unaware of the Social Responsibilities of Businesses

“The Biggest Demand from Investors is for Project Analysis,”Guy de Fontgaland, President of Eurasia Management House


Q. EMH offers project management service from project conceptualization through the total process. Which stage is more in de-mand and why?

A. Our strategy is to offer in-vestors a range of comfort zones wherein they feel that they have a credible and professional local anchor which can guide them through the complex processes of establishing or expanding a business in Georgia. Most in-vestors are often diffi dent about investing and ensuring sustain-ability and growth in a foreign land, especially where language, business culture and levels of governance are vastly different from the more established and mature economies. In Georgia, while speed of opening compa-nies, bank accounts and other facilities are of excellent stan-dard, ground level realities of starting up and operating busi-nesses need to be more clearly understood and appreciated. Mainly for small and medium enterprise investors whose investment scale is around US$250,000, expectations of return on capital are high as much as 50% per annum. These expectations are risk-related and at the same time aligned to high costs of borrowing in Georgia, from banks at around

16% and from microfi nance in-stitutions at around 40%.

Project conceptualizations and project implementation in Georgia needs to take into ac-count a number of critical fac-tors which relate to manage-ment competence, work ethics, cost of goods and the internal as well as external markets. Geor-gia still remains a narrow and limited market. Manufacturing often has high costs and profi t margins can be low.

The biggest demand from investors is mainly for a highly professional and bankable proj-ect analysis and due diligence on companies which may wish to form joint-ventures with lo-cal individuals or corporations.

Q. Currently EMH is ori-ented on developing and attracting small and me-dium investors. Why?

A. Small and medium invest-ments in Georgia is our focus area, mainly on account of the fact that there is space for this scale of investments in agricul-ture and agro industry, in eco tourism, in fashion, in food out-lets, in education and training and in specialized services. It is also based on our own network of investors who have expressed interest in moving risk capital to emerging markets to test the waters and position themselves with the fi rst-mover advantage. EMH is an independent accred-ited investments facilitator for the Georgian National Invest-

ment Agency of the Ministry of Economy and Sustainable Development while I am, on an individual basis, advisor to the TBC Bank for foreign term de-posits. We have recently invited a number of small and medium investors from Singapore to consider depositing funds with the TBC Bank and taking ad-vantage of our services to devel-op project pipelines in Georgia in which they could invest or undertake co-fi nancing of third party ventures in cooperation with TBC Bank.

There is also the social and economic dimensions to small and medium investments. Small and medium ventures are drivers of economic growth and employment generation. Coupled with our education, training and capacity building programs, we plan to create a holistic platform for invest-ments and graduate employ-ment.

Q. Majority of foreign businesses in Georgia are large enterprises. Why? How would you estimate such a situation?

A. Majority of foreign busi-nesses are engaged in offering critical products and services such as gas. There is a captive market for their operations and they are profi table. Indepen-dent Georgia created a large vacuum for essential services such as telecommunication, oil and gas, infrastructure and

some manufacturing. Most of these enterprises required the injection of large capital and it was only possible from foreign companies, either as stand-alone investments or in joint venture with local companies.

Q. How could the invest-ment climate for foreigner businesses be improved in Georgia?

A. Overall, the climate for investment is good. Law and order and the security situation is excellent, compared to some years ago. There is confi dence in the country’s ability to man-age itself, without any potential chaos. Public services that sup-port investments are proactive and highly effi cient. There are also a number of clear oppor-tunities for investments across a range of industrial sectors. I see the lack of suffi cient, fi ne-tuned capacities at the middle and top management and the need to bring foreign profes-sionals to take leadership roles at much higher wages as an issue. While foreign profes-sionals bring a variety of skills and a body of knowledge, and do transfer them to nationals, the education system needs to revamp to cater to current de-mands. Language too can be a barrier and the introduction of English as a lingua franca needs to be encouraged. A key con-cern with most investors is the level of corporate governance and abiding by some of the key

standards and best practices. Quality of work, commitment to higher levels of performance across most segments of the workforce, from white to the blue collar, needs much grad-ing up.

Q. Since 2005, Georgia has moved up to 12th place from 112th among 181 coun-tries surveyed on the World Bank ’s annual Doing Busi-ness ranking. What are the perspectives of Georgia in term of attracting foreign businesses?

A. Georgia’s ranking for Ease of Doing Business is creditably high. It is evident in the range of public services, from reg-istration of a company to in-come revenue reporting, from the highly effi cient immigra-tion points at the airports to the movement of goods from overseas or from Georgia to other ports. There is however a widespread feeling among most small and medium inves-tors that the average Georgian business does not understand the need to drive a comfort zone to foreign investors in terms of providing full and clear information, of conduct-ing negotiations on established lines of transparency and in ensuring the security and prof-itability of foreign investments. Foreign investors entering new and emerging markets usually carry a number of risk-related concerns and it is important to

ensure that these risks are ad-dressed clearly by local partners and collaborators.

Q. In your opinion, what could be main guidelines for foreign business to op-erate successfully in Geor-gia?

First, of course, is their own understanding of investments, markets, margins, profi ts and risks. They also need to under-stand the social and cultural aspects of Georgia which, as a nation, is still young in attun-ing itself to international stan-dards and practices. EMH, as a rule does not encourage bor-rowing in Georgia as the cost of debt is very high. It is wise to ensure that investments are mainly equity-funded. Unless there is very clear prospect of a zero-risk operation, it would be best to move a venture through a gradual process. It is also im-portant to understand the road map and milestones of a ven-ture and the risks and rewards on the way. There is also a ne-cessity to pick and right people, with the right attitude and the right commitment and loyalty to support the ventures. While there is widespread unemploy-ment in Georgia, there no abun-dance of highly qualifi ed and competent professionals. Those who have the right qualities are often picked quickly by interna-tional organizations, big corpo-rations and foreign companies at above-market rates.


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socially socially responsible companiesresponsible companiesSustainable and Responsible Business -

New European policy

The FINANCIAL

In October 2011 the European Commission published a new policy on corporate social responsibility.

It states that to fully meet their social responsibility, enterprises “should have in place a process to in-tegrate social, environmental, ethi-cal and human rights concerns into their business operations and core strategy in close collaboration with their stakeholders”.

The aim is both to enhance positive impacts – for example through the innovation of new products and ser-vices that are benefi cial to society and enterprises themselves – and to mi-nimise and prevent negative impacts.

The new policy puts forward an action agenda for the period 2011-2014 covering 8 areas:

Enhancing the visibility of CSR and disseminating good practices:

this includes the creation of a Euro-pean award, and the establishment of sector-based platforms for en-terprises and stakeholders to make commitments and jointly monitor progress.

Improving and tracking levels of trust in business: the Commission will launch a public debate on the role and potential of enterprises, and organise surveys on citizen trust in business.

Improving self- and co-regulation processes: the Commission proposes to develop a short protocol to guide the development of future self- and co-regulation initiatives.

Enhancing market reward for CSR: this means leveraging EU poli-cies in the fi elds of consumption, in-vestment and public procurement in order to promote market reward for responsible business conduct.

Improving company disclosure of social and environmental informa-tion: the new policy confi rms the

Commission’s intention to bring for-ward a new legislative proposal on this issue.

Further integrating CSR into edu-cation, training and research: the Commission will provide further support for education and training in the fi eld of CSR, and explore oppor-tunities for funding more research.

Emphasising the importance of national and sub-national CSR poli-cies: the Commission invites EU Member States to present or update their own plans for the promotion of CSR by mid 2012.

Better aligning European and global approaches to CSR:

the Commission highlights the OECD Guidelines for Multinational Enterprises,

the 10 principles of the UN Global Compact,

the UN Guiding Principles on Business and Human Rights,

the ILO Tri-partite Declaration of Principles on Multinational Enter-

prises and Social Policy,the ISO 26000 Guidance Stan-

dard on Social Responsibility.A report on the implementation

of this action agenda should be pub-lished in time for a review meeting scheduled for mid 2014.

SCAN QR code to get full report on your mobile phone.

PAYDEVELOPMENTS

ACROSS EUROPEMINIMUM WAGE RISE WILL INCREASE TAX REVENUES

The national minimum wage in Ro-mania will rise from 670 to 700 (154 to 161 euros) lei per month on January 1st 2012. This change will affect some 790,000 workers and add around 30m lei (6.8m euros) in additional net tax revenues for the government, according to federation of European Employers.

MINIMUM WAGE TRANSITION PERIOD ENDS

From January 1st 2012 all compa-nies in Slovenia will be required to pay the national minimum wage in full. A transitional option for compa-nies to pay rates below the minimum was established following a major rate hike in February 2010. It was taken up by around 1,600 employers.

MONTHLY PAY CLIMBING FASTER THAN HOURLY PAY

Over the year to Q3 2011 the gross average monthly pay level in Estonia grew by 6.6% to 809 euros and gross average hourly pay grew by 4.7% to 4.82 euros, according to federation of European Employers. The greatest increase in the monthly pay level was in the mining and quarrying sector (+13.4%) and the biggest jump in the hourly pay level was in real estate sec-tor(+12.2%). Labour costs rose over the year to 1096 euros per month and 7.64 euros per hour.

GENDER PAY GAP SHRINKS, BUT TOP EARNERS BETTER OFF

According to latest fi gures from the UK's Offi ce for National Statis-tics median gross weekly earnings in the UK rose by just 0.4% over the year to April 2011. Earnings for Full-time female employees rose by 1.4%, compared with just 0.2% for full-time male employees. Higher paid workers in the top decile of earnings increased their hourly earnings by 1.8% com-pared with just 0.1% for those in the lowest earnings decile.

SMIC INCREASES BY 2.1% - PLUS FURTHER RISE NEXT MONTH

The statutory minimum wage (SMIC) in France increased on De-cember 1st by 2.1% from 9.00 to 9.19 euros per hour. It will rise again on January 1st 2012 to 9.22 euros an hour. This change will affect some 2.3 million workers across France.

POLARISATION IN BULGARIAN JOB MARKET

According to a recent survey carried out by the international recruitment fi rm Manpower only one in seven Bulgarian companies plan to hire new staff during the fi rst quarter of 2012. According to federation of European Employers job growth is expected to be greatest in fi nance, business servic-es, insurance, real estate and utilities (+12%) and job numbers are expect-ed to decline in retail and wholesale trades (-20%) and construction (-17%).

MINIMUM WAGES IN EUROPENOTES: [1] Where offi cial rates

are expressed by the hour or week, they have been converted to monthly rates on the basis of a 40-hour week and 52-week year. Min-imum wage fi gures are gross (pre-tax) rates and exclude any 13th or 14th month payments that may be due under national legislation, collective agreements, custom or practice. [2] Austria: applies to certain industry sectors. Applica-ble to all sectors from 01.01.2009. Employees are entitled to 14 monthly payments each year. [3] Luxembourg: unskilled workers only. [4] Romania: based on 170 hours per month. [5] Greece, Por-tugal, Spain: white-collar workers only. Workers normally entitled to 14 monthly payments per year. The minimum wage in Portugal; will be reassessed in May and Sep-tember 2011. [6] France: based on statutory 35-hour week. [7] Cy-prus: applicable to certain groups in non-unionised sectors after 6 months’ employment. [8] Croatia: Minimum Wage Act . Art 4 para 3/4. [9] Greece: Different rates ap-ply to blue and white collar work-ers and vary by length of service and marital status. [10] Hungary: the minimum wage is 20% higher than the basic national minimum for those with secondary or voca-tional education but under two years’ experience, and 25% higher for those with at least two years’ experience or older than 50 years of age. Employees with univer-

sity-level education are entitled to a minimum wage that is 60% higher than the basic national minimum. [11] Malta: Higher wage rates are set by order in the following sectors: agriculture, bev-erages, domestic work, clay and glass work products, food manu-facturing, hire cars and private buses, hospitals and buses, jewel-lery and watches, leather goods and shoes, papers, plastic, chemi-cals and petroleum, private secu-rity services, professional offi ces, public transport, sextons and cus-todians, textiles, tobacco manufac-ture, transport equipment, metal, woodworks and private cleaning services. [12] Czech Republic: Rates may not include travel al-lowances, on-call payments and severance compensation. [13] Iceland: The minimum pay level is established through a national collective agreement. [14] Slo-venia: From 2010 the minimum wage has been set in terms of nor-mal net take home pay. It will rise in stages to 562 net by 2012. [15] Rate net of tax and social charges for those aged 16 and over. The net rate will rise to 566.57 liras on July 1st 2011. [16] If an employer cannot afford to pay the national minimum wage due to fi nancial diffi culties the Labour Court may allow them to pay below the mini-mum wage for between 3 months and 12 month. Only one period of exemption is allowed.

Country Minimum wage rateAlbania 20,000 lekAndorra 929.07 eurosAustria 1,000.00 eurosBelarus 400,000 Belarusian roublesBelgium 1,498.87 eurosBulgaria 270 levaCroatia 2814.00 kunasCyprus [7] 909.00 eurosCzech Republic [12] 8,000 korunyEstonia 278.02 euroFrance [6] 1,365.00 eurosGreece [5] [9] 739.56 eurosHungary [10] 78,000 forintsIceland [13] 182,000 kronurIreland [16] 1499.33 eurosIsle of Man 1,057.33 IOM poundsJersey (Channel Islands) 1095.46 Jersey poundsLatvia 200 latsLithuania 800 litaiLuxembourg [3] 1,757.56 eurosMalta [11] 664.95 eurosMoldova 1100.00 leiMontenegro 55.00 eurosNetherlands 1,424.40 eurosPoland 1,500 zlotysPortugal [5] 485 eurosRomania [4] 670.00 new leiRussian Federation 4,611 roublesSerbia 17,680.00 new dinarsSlovakia 317.00 eurosSlovenia [14] 530.00 net eurosSpain [5] 641.50 eurosTurkey [15] 629.26 liraUkraine 985 hryvniasUnited Kingdom 1027.87 pounds sterling


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Tel: (+995 32) 2242400Fax: (+995 32) 2242403

Kobuleti, GeorgiaE-mail: [email protected]

www.gph.geAddr: 275 Agmashenebeli Ave.

GEORGIA PALACEHOTEL

Tel: (+995 32) 277 20 20Fax: (+995 32) 277 21 20

Addr: 20 Telavi Str.www.sheraton.com/tbilisi

Tel: (+995 32) 250 99 99Mob: (+995 95) 225 99 99

D.Agmashenebeli ave.#154 www.green-offi ce.ge

Georgian Real Estate Management

The Green Building, 6 Marjanishvili Street, 0102 Tbilisi,

Republic of GeorgiaTel: (+995 32) 243 30 77Fax: (+995 32) 243 30 79

www.fi rstbrokerage.geE-mail: info@fi rstbrokerage.ge

Tel: (+995 32) 2988 988Fax: (+995 32) 2988 910

E-mail:[email protected]

Addr: 4 Freedom Square

32 Abashidze Str. Tel: 2 22 40 83

Ice cream, coffee, blended drinks, pastry, salads…

Open8am-2am (May-October)

8am-1am (November-April)

Addr: 12 Eristavi Str.(at the round garden)

34 Leselidze Str.7a Pekini Str.

Phone: 99 03 99; 5 74 74 69 [email protected]

Addr: # 35 Abashidze Str. Phone: 22 17 70

www.thai.ge

THAILE MARAIS

HOTEL “O. GALOGRE”

8, VAKHTANG GORGASALI STR.

BATUMI GEORGIA Tel: +995 422 27 48 [email protected]

Berika International LTDGSA for Czech Airlines in Georgia

Phone: +995 32 2227941Fax: +995 32 2222941

16 Rustaveli Ave.17 Akhvlediani Str.

Tel: 2519 966

6 Kavsadze Str.Tel: 2 25 15 45

2 55 44 55www.lottravel.ge

50 Chavchavadze Ave.Tel: 2 91 52 42

Village Anaklia,Zugdidi, Georgia

Tel: 2 60 99 902 60 99 91

www.hotelanaklia.com

146 Agmashenebeli Ave.,T/Fax: 291 02 49

Email: [email protected]

78 Chavchavadze ave.; Tel.: 2225 626 / 2235 626; reception@primefi tness.ge

15 Lubliana Str.,Tel: 251 00 01;Fax: 253 00 44

[email protected]

37 Chavchavadze Ave.; Tel.: 291 30 26; 291 30 76

1 Brother Kak-abadze Str.,

Tel: 292 29 45;Fax: 292 29 46;

[email protected]

3 Vashlovani Str.;(“Super Babilon” oposit)

Tel.: 298 90 86

5 Chavchavadze Ave.,Tel: 222 44 17;5 77 22 99 22

plasticsurgerygeo.com 36 Al. Kazbegi ave. Tbilisi, 0177, Georgia

Tel/Fax: 229 43 [email protected]

Tel: 888 222 2900www.sheraton.com/tbilisi

The tickets are availableat tbilisi international airport

freedom square 4courtyard marriott hotel,

1st fl oorTel: 2400 400; 2400 040

Radisson Blu Iveria Hotel Rose Revolution Square 1

T: +995 32 2402 200; F: +995 32 2402 201 [email protected] radissonblu.com/hotel-tbilisi

13, Rustaveli Avenue.; Tel.: +995 32 2779 200

[email protected]

4, Freedom Square,Tel: +995 32 2779 100

[email protected]

TEL:590 86 44 45 # 2 Dadiani Str.

EUROPE HOUSE

AeroSvit Representative offi ce in Georgia

Address: 25 st.LeselidzeOffi ce 205

Tbilisi 0160, Georgia

Tel: ( 995 32)243 96 93Fax: ( 995 32)243 96 93

[email protected]

La’Brioche

Addr: Batumi, Georgia, Parnavaz Mepe #25

Tel.: (995 32) [email protected]

Betsy’s Hotel32-34 Makashvili Street,

0108, Tbilisi, GeorgiaTel.: +995 32 2931404Fax: +995 32 [email protected]

Tel: 2439494Addr: 13 Shavteli Str.

[email protected]; www.ambasadori.ge

For advertising please contact:

577 741 700marketing@fi nchannel.com

26 May SquareTel: 2 30 00 99

www.hi-tbilisi.com

BUSINESSTRAVELCOMHOTEL AND AIRTICKET BOOKING: 2 999 662 | SKY.GE


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Tegeta Motors Celebrates its 16th Anniversary

The FINANCIALBy TAKO KHELAIA

Tegeta Motors celebrated its 16th anniversary with a festive event. The event was held at the service centre at the company’s headquar-ters. The company summed up the achieved results. The new, Euro-pean standard auto service centre was presented. People attending the ceremony had the opportunity

to win sixteen prizes which were being offered by different Geor-gian companies.

“This is the fi rst auto service centre in the Caucasus, where the highest standards of vehicle main-tenance and complete comfort for users will be available in one space. The service centre is located over a large space; our customers will be able to rest while their car is being repaired. They can use the Wi-Fi service available and drink

coffee in a very comfortable area. At the moment 150 personnel are employed in the service centre,” said Giorgi Mshvildadze, General Director of Tegeta Motors.

“The year 2011 has been quite successful for our company. We have opened a Porsche centre. The net profi t of Tegeta Motors has increased by about 25%. Demand for car service and car part accom-modation has practically doubled in comparison with last year. The

development and increase of the company is directly connected with the increase in company profi t. This year we have opened service centres in Batumi and Poti as well,” Mshvildadze said.

According to company repre-sentatives, during its sixteen years Tegeta Motors has invested tens of millions of USD in the busi-ness. At the moment Tegeta Mo-tors is the offi cial representative of more than 300 world famous brands, with exclusive rights of distribution. The company has sixteen branches and more than 800 employees.

Tegeta Motors offers a full range of high quality auto prod-ucts and auto service for corpo-rate and retail customers. That involves the diagnosis and repair of light cars and trucks, buses, construction and special equip-ment by using special authorized programmes.

Recently MAN Truck & Bus AG held a training seminar by the biggest German company MAN at Tegeta Motors. The seminar was organized by Tegeta Motors’ subsidiary company Tegeta Truck & Bus and MAN Truck & Bus AG’s educational academy MAN Academy. According to the deci-sion of Dr Frank Hiller, Director of Marketing, Sales and Services for MAN Truck & Bus AG, MAN Academy implemented new types

of trainings in 2011.These trainings were for the

purpose of the improvement of the professional habits of sales man-agers of the partner companies in different parts of the world. Repre-sentatives of eight countries took part in this training. In total 22 people participated. Participants in the event were from Georgia, Armenia, Azerbaijan, Ukraine, Be-larus, Kazakhstan, Uzbekistan and Germany.

socially socially responsible companiesresponsible companiesDenim Brand Replay Now in Georgia

The FINANCIALBy MARIAM PAPIDZE

Clothing store Replay which was born in Italy is now available in Georgia. Major Italian fashion play-er Replay has entered the Georgian market and has brought with it some high quality denim. This is a store for men’s and women’s casual wear and footwear. Replay aims its total look at consumers who are looking for quality products, who have taste and who love casual style. Located on Vaja Pshavela Avenue Replay has already received its fi rst clients.

“We expect to successfully com-pete with other brand stores in Georgia. We offer Georgians quality and tasteful clothes,” said Ia Parkaia, Manager of the Replay store. “Re-play has been famous for its jeans collections from the beginning of its existence. Since then it has added different lines. Nowadays Replay of-fers its men and women clients not just jeans, but casual style clothes as well. This brand is known as a casual store for young people. But all ages of people can be our clients. As for the prices, they are in line with the quality and reputation of the brand,” she added.

The guests invited to the Replay presentation were satisfi ed with the collection on show and about the presentation event itself. The event was performed by an Italian DJ who

was brought from Venice specially for the Replay opening.

Prices start from 200 GEL and go up from there. The store will offer different discount promos to its cli-ents from time to time. “Replay will have special discounts for Christ-

mas. With other stores in Tbilisi Re-play will also offer a special surprise to its new clients. As for our future plans, we are going to expand; to add a new store in Tbilisi and other cit-ies in Georgia and to add new lines to the collection. For example we

plan to bring children’s clothes here. Also, men’s and women’s lingerie and accessories,” Parkaia said.

The Replay brand was established in 1978 when Claudio Buziol reg-istered a company named Fashion Box Industries. With Replay as its

fl agship brand, Fashion Box expand-ed its clothing line to casual shirts in 1981. In 1987, the brand entered the international scene which met it with much eagerness. Two years later, Replay revolutionized denim jeans fashion with its “double ring” design.

The brand is active in socially re-sponsible activities as well. Accord-ing to Replay offi cials, since 2006 the Claudio Buziol Foundation has been supporting programmes and projects that help young people in their education and training so that they can develop their creative abili-ties and artistic expression. It helps them gain visibility and gives them a real chance to fulfi l their profes-sional aspirations.

Reply is now one of the leading in-ternational companies in the denim sector.

Expansion into new markets and increasing control of the distribution network are key strategic objectives for Fashion Box as well as product vision. At present Replay operates in all European markets and in the Middle East, Asia, America and Af-rica in over 50 countries and now in Georgia as well.

The wholesale distribution net-work has 5,000 outlets with 220 retail stores, according to Replay offi cials. 2009 total annual sales amounted to 272 million EUR and exports account for 85 percent of the turnover.

JOHN BASS TO BECOME DIPLOMAT OF THE YEAR 2011

The FINANCIAL

The fi rst diplomat award ceremo-ny in Georgia took place last week in Tbilisi at Cruise restaurant. Weekly English-language newspaper Geor-gian Journal along with the publishing house Palitra revealed the Diplomat of the Year. This year Ambassador of the US to Georgia Mr. John Bass has received special award, exclusively de-signed for the ceremony.

According to Georgian Journal prior to the event, Media Palitra has con-ducted a three-month poll involving local politicians, political analysts and political scientists.

The primary purpose of the project is to make the Diplomatic Corps more active in promoting Georgia and fur-ther development of democracy in the country. Moreover, Georgian Jour-nal intends to revitalize the relations between the Georgian media and the Diplomatic Corps.

Within the scope of the project, representatives of diplomatic corps, international as well as local non-gov-ernment organizations, politicians, ex-perts and businessmen have attended the event.


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socially socially responsible companiesresponsible companiesBank Constanta Social InvestmentsB

ank Constanta regards cor-porate social responsibility (CSR) as an investment in so-ciety and in its own future.

To us CSR is much broader than just philanthropy and it entails a broad commitment to protect and improve the lives of workers and the com-munities in which we do business. It refers to operating a business in a manner that accounts for the social and environmental impact created by the business and it addresses is-sues impacting virtually every area of operations: governance and eth-ics; worker hiring, opportunity and training; responsible purchasing and supply chain policies, and envi-ronmental impact.

Our corporate social responsibil-ity (CSR) programs are designed to provide long-term benefi ts to our, customers, employees, sharehold-ers, partners, and individuals in communities in the country. We fo-cus on three main areas:

• Customers• Employees• Social Investments

CUSTOMEROne of the main directions of com-

pany’s social mission is protection of its customer that is stated into offer-ing fair contract terms, reasonable interest rate and commission fee ranges, monitoring and analyzing its fi nancial conditions and solvency, developing and offering fl exible pay-ment schedule, assisting in cogni-tion of contract terms.

The aim of this activity is to pro-tect its customers from taking such extra conscious or unconscious re-sponsibilities that will make the cus-tomer insolvent debtor.

For more transparency any, dis-satisfi ed customer is welcome to address Bank Constanta with the compliance, that will be examined by JSC Bank Constanta’s Commit-tee of Consumer Complaints and the consumer will be informed about the decision concerning its complaint.

EMPLOYEESBank Constanta starts to care

about the customer by caring about the employee – the one who prin-cipally cares about the customer. Bank Constanta considers its staff its greatest assets and treating them well is fundamental to the develop-ment of our organization.

At Bank Constanta, we strive to create an inclusive, balanced, and col-

laborative environment that enables employees to develop and utilize their talents and advance their careers.

To facilitate personal develop-ment to staff, our Training Division organizes various training and study programs for our staff and sponsors them, both locally and overseas.

We offer our staff comprehensive in-surance on medical, dental, disability and travel. We also provide retirement benefi ts schemes for all of our staff.

We try to contribute to the well-

being of our staff through different social and sport activities, like bowl-ing and football championships and corporate events.

As we aim to contribute to the well-being of the community in which we operate, we encourage staff to actively support voluntary activities. Hence, corporate volun-teering is on of the important way of giving the opportunity to employees make a contribution to the commu-nity in a positive way.

SOCIAL INVESTMENTS

Social-cultural projects are the part of SCR that are also very impor-tant for Bank Constanta. We always try to assist and participate in proj-ects that serve to build the values es-sential to raise noble and moral soci-ety. We believe that artistic creativity broadens minds, opens up new per-spectives and inspires people to ex-cel and achieve the extraordinary. For this reason, Bank Constanta supports various programs connect-ing with art and culture, striving to provide access to art and music for as many people as possible and pre-serve culture for future generations.

Among such programs are:Sponsorship of children and youth

festival of classical music “The Fu-ture Stars 2011”. The festival gathers the outstanding musicians and the laureates of various festivals of mu-sic and art schools around the coun-try. This year festival was carried out the fourth year and a number of tal-ented young people has been identi-fi ed and awarded in various nomina-tions within its framework.

Another important sponsorship for Bank Constanta is supporting “Art Gene” Festival - It is the second year that Bank Constanta sponsors the one of the most popular and cul-tural festivals of Georgia.

The history of the Festival Art Gene engage 8 year of existence and its main goal is to promote and pop-ularize Georgia’s traditional folklore, research and gather known and un-known materials of this fi eld and in-troduce it to the general public, also to archive and preserve those mate-rials for future generations. It is defi -antly one of the most successful and highly attended events in Georgia with the wide audience of all genera-tions and ethnicity.

In current year, “Bank Constanta” provided additional support to the festival through the social network “Facebook” with various interesting applications related to the festival is-sues. According to the involvement of the network users, we can kindly state that those applications were truly successful. Another pleasant detail is that a lot of young genera-tion took an active part in those ap-plications. Which is one of the main aims of the festival – introduce our cultural values and traditions to the young generation.

Regarding the introducing Geor-gian traditions to the wide audience “Bank Constanta” initiated another project - through “Bank Constanta” page at “Facebook” bank gave its viewers the opportunity to get ac-quainted with the Georgian traditions of all regions and their history. This is the educational video program, which allows you to get information about the origins of our traditions, their history, nature and importance. We believe that such programs help society understand the culture and traditions, facilitate their evaluation, and lead to the future development of the proper values for society.

The current activity of “Bank Con-stanta” in assisting the Georgian cul-ture and contributing in promotion and development of Georgian art, is sponsoring the “Georgian Art Eve-nings”. It is 7 month project organized by Ministry of Culture, starting in No-vember 2011. Under the project Tbili-si Concert Hall will host Tbilisi Op-era and Ballet Theatre and Georgian Folk evenings. The project is aimed to introduce Georgian art to the large audience. In frames of this project, each week the audience will have an opportunity to meet such performers as Georgian State Academic Folk and Dance Ensemble, Tbilisi Opera and Ballet Theatre, and various represen-tatives of Georgian art.

Among the “Bank Constanta” social programs should be also ad-mitted so called Green Programs committed to caring for the environ-ment. Those are long term activities which are carried annually and in-volve all volunteer employees of the “Bank Constanta”.


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SOCIAL PROJECTS

One of the priority ac-tivities of JSC Madneuili and Geo Pro Mining

Group is implementation of social projects.

In 2011 the company actively participated in more than 90 charitable an social projects.

The sum total contributed by the both companies 1 mil-lion Gel.

THE PROJECTS IMPLEMENTED BY THE JSC MADNEULI

• The Bolnisi region has been featured with its historical monuments, importance and samples of arts for many cen-turies, The Bolnisi Sioni Church is a kind of the visit card of the region, which is also the important historical sample of the ancient Georgian archi-tect. The JSC Madneuli takes

the responsibilities towards many social aspects, including renovation and maintenance of the ancient Georgian Christian churches.

• JSC Madneuli and Group GeoPro Mining has been an active supporter of sports. It currently is a sponsor of the football team “Bolnisi Sioni”. JSC Madneuli efforts develop-ment and popularization of soccer tournaments. It has recently sponsored childrens soccer camp.

• JSC Madneuli is the Georgian company, established on the national Georgian roots,

therefore, it is important for the company to contribute and support welfare of Georgian regions and especially the region it operates in. Company has contributed signifi cantly to the Bolnisi Regional recon-struction fund.

• In JSC Madneuli liabilities and responsibilities the major place is given to the welfare of new generation. Company actively contributes to different educational programs. Helps local orphanages, schools and day cares. It also helps elderly houses and WWII veterans.

• One of the prior achieve-

ments, especially after the privatization, the Company con-siders increasing of the new and qualifi ed staff members. Since 2005 JSC Madneuli has spent signifi cant funds for trainings and educations of its staff.

• JSC Madneuli is a country’s signature card to overseas investors. Company signifi cantly contributes to dif-ferent programs and projects helping promotion of country and economic development. These have been sponsor-ships of different investment forums and international project promotions. One of the

foreground tasks in Georgia is widening and attracting of investments. As Madneuli is the one of the best samples of implemented investments in Georgia, company extends its responsibilities towards social maintenance.

• Along with its active par-ticipation in the development of country, JSC Madneuli sup-ports Georgian arts and theatre on periodic bases.

In 2011 company has spent close to 1 million lari in CSR and for next year company nad group Geo Pro Mining plans to increase social maintenance projects.

JSC Madneuli GeoProMining Group


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Advertiser: Business Travel Com. Contact FINANCIAL Ad Dep at marketing@fi nchannel.com



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DECEMBER 19, 2011

Clubs, Pubs…21:00 - Band “Wheels”, DJ DatunaSkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00-02:00 - DJ Club “Two Side” 7 Bambis Rigi Str. Tel: 230-30-30 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha”Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 6920:00-23:00 - Georgian songs with live performanceRestaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 21:00-24:00 - Band “Pub”Bar “Fahrenheit” 5 Vashlovani Str. Tel: 299-67-72 20:30 - Maidan Jazz BandRestaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00 - Rezo Kiknadze - saxophonistCafé “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 20:00-23:30 - Georgian Folk and Pop Songs (Live Performance)Restaurant “Shadow of Metekhi” 29 K. Tsamebuli Ave. Tel: 230-30-30 20:00-23:00 - Trio - Georgian Songs Live Performance Restaurant “Maspindzelo” at Bambis Rigi 7, Bambis Rigi Str. Tel: 230-30-30 21:00-24:00 - Band “Goblins” (Covers)Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67 20:00-23:00 - Classical Music - Piano and ViolinRestaurant “Maspindzelo” in Abanotubani 7 Gorgasali Str. Tel: 230-30-30

CinemaRustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Mission: Impossible - Ghost Protocol”;“Carnage”;“247°F”;“Happy Feet Two”;“The Twilight Saga: Breaking Dawn - Part 1”;“Love Story”(Ticket Price - 8 - 14 GEL)“Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Mission: Impossible - Ghost Protocol”;“247°F”;“Happy Feet Two”;“The Twilight Saga: Breaking Dawn - Part 1”;“Love Story”(Ticket Price - 8 - 14 GEL)“Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47“Mission: Impossible - Ghost Protocol”;“247°F”;“Happy Feet Two”;“The Twilight Saga: Breaking Dawn - Part 1”;“Love Story”(Ticket Price - 7 - 10 GEL)

Gallery12:00-19:00 - The art gallery “Vanda” (“Hobby”) and Nino Peradze invite you to the exhibition “Christmas Varieties”Gallery “Vanda” 14, Chonkadze Str. (Sololaki area). Tel: 293-42-86, 599 56-99-71 Photo Exhibition in the frames of L.A.F. Project in partnership with the Tbilisi International Film Festival and Gallery 9. Participating: Mariam Amurvelashvili, Temo Bardzimashvili, Leli Blagonravova, Gega Chumburidze, Elene Damenia, Nanka Dolidze, Anka Gujabidze, Heinrich Holtgreve, Marika Kochiashvili, Yuri Mechitov, Ana Nijaradze, Irina Popova, Tako Robakidze, Daro SulakauriGallery 9 9, Gudiashvili Str. Tel: 299-59-54, 858 24-25-96 12:00-19:00 - Gogi Chagelishvili’s Solo Exhibition - “It’s Winter” Baia Gallery 10 Shardeni Str. Tel: 275-45-10 Exhibition of the works of Vakhtang Tato Akhalkatsishvili - “Your Mystery”. At the exhibition will be presented 28 new abstract works full of new energy and harmony - (Everyday 12:00-20:00)“Tifl is Avenue” Gallery 8/10, Erekle II Str. Tel: 298-20-14, 577 50-64-50 Exhibition of “Leselidze 49” art studio. Misha Arbolishvili, Levan Abramishvili, Guram Khetsuriani, Soso Kumsiashvili, Tornike Abuladze, Beka Svirava, Irakli Chikovani, Levan Macharashvili, Keti Kobakhidze, Goga Chedia, Giorgi Ositashvili, Aleksandre Acharadze, Gogi Khakhutashvili, Barbare Aslamazishvili, Medea Alughishvili - (Everyday 12:00-19:00)Gallery “Vernissage” 7, Brothers Zubalashvili Str. Tel: 299-88-08 Exhibition - “Galaktioni 120”Literature Museum 8 Giorgi Tchanturia Str. Tel: 598 16-70-4812:00-22:00 - Mixed Exhibition of Georgian Artists - (paintings, graphics, porcelain, enamel, woodcraft...)Gallery “Cameo”11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-6612:00-19:00 - Cloisonne Art ExhibitionEnamel Gallery “Ornament”7 Erekle II Str. Tel: 298-90-1310:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon”12, Baratashvili Str. Tel: 293-25-90

DECEMBER 20, 2011

Clubs, Pubs…21:00 - Band “Wheels”, DJ DatunaSkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00-02:00 - DJ Club “Two Side” 7 Bambis Rigi Str. Tel: 230-30-30 20:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songsRestaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha”Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 6920:00-23:00 - Georgian songs with live performanceRestaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 21:00-24:00 - “Cloud Blues Band”Bar “Fahrenheit” 5 Vashlovani Str. Tel: 299-67-72 20:30 - Georgian folk ensemble “Urmuli”, georgian dances Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz BandRestaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Maia KankavaCafé “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 20:00-23:30 - Georgian Folk and Pop Songs, Traditional Georgian Dances (Live Performance)Restaurant “Shadow of Metekhi” 29 K. Tsamebuli Ave. Tel: 230-30-30 20:30-23:30 - Georgian Songs (Live Performance)Restaurant “Puris Sakhli” 7 Gorgasali Str. Tel: 230-30-30 20:00-23:00 - Trio - Georgian Songs Live Performance Restaurant “Maspindzelo” at Bambis Rigi 7, Bambis Rigi Str. Tel: 230-30-30 21:00-24:00 - Band “Goblins” (Covers)Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67 20:00-23:00 - Classical Music - Piano and ViolinRestaurant “Maspindzelo” in Abanotubani 7 Gorgasali Str. Tel: 230-30-30


Theatre20:00 - “Perkhuli” - (Ticket Price - 11 GEL)Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 19:00 - “Krimanchuli” - (Ticket Price - 5,50 GEL)Pantomime Theatre 37 Rustaveli Ave. Tel: 299-63-14

Gallery12:00-19:00 - The art gallery “Vanda” (“Hobby”) and Nino Peradze invite you to the exhibition “Christmas Varieties”Gallery “Vanda” 14, Chonkadze Str. (Sololaki area). Tel: 293-42-86, 599 56-99-71 12:00-19:00 - Gogi Chagelishvili’s Solo Exhibition - “It’s Winter” Baia Gallery 10 Shardeni Str. Tel: 275-45-10 Exhibition of the works of Vakhtang Tato Akhalkatsishvili - “Your Mystery”. At the exhibition will be presented 28 new abstract works full of new energy and harmony - (Everyday 12:00-20:00)“Tifl is Avenue” Gallery 8/10, Erekle II Str. Tel: 298-20-14, 577 50-64-50 Exhibition of “Leselidze 49” art studio. Misha Arbolishvili, Levan Abramishvili, Guram Khetsuriani, Soso Kumsiashvili, Tornike Abuladze, Beka Svirava, Irakli Chikovani, Levan Macharashvili, Keti Kobakhidze, Goga Chedia, Giorgi Ositashvili, Aleksandre Acharadze, Gogi Khakhutashvili, Barbare Aslamazishvili, Medea Alughishvili - (Everyday 12:00-19:00)Gallery “Vernissage” 7, Brothers Zubalashvili Str. Tel: 299-88-08 Exhibition - “Galaktioni 120”Literature Museum 8 Giorgi Tchanturia Str. Tel: 598 16-70-4812:00-22:00 - Mixed Exhibition of Georgian Artists - (paintings, graphics, porcelain, enamel, woodcraft...)Gallery “Cameo”11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-6612:00-19:00 - Cloisonne Art ExhibitionEnamel Gallery “Ornament”7 Erekle II Str. Tel: 298-90-1310:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon”12, Baratashvili Str. Tel: 293-25-90

DECEMBER 21, 2011

Clubs, Pubs…21:00 - Band “Wheels”, DJ DatunaSkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00 - David Masteranov Live Band24:00 - DJ Club “Two Side” 7 Bambis Rigi Str. Tel: 230-30-30 20:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songsRestaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha”Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 6920:00-23:00 - Georgian DancesRestaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 21:00-24:00 - Band “Band’a’roll”Bar “Fahrenheit” 5 Vashlovani Str. Tel: 299-67-72 22:00-01:00 - Group “Comic Condition”Tavern “Scarlet Sails” 25, Leselidze Str. Tel: 293-10-28 20:30 - Maidan Jazz BandRestaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00 - Live Band Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 20:00-23:30 - Georgian Folk and Pop Songs, Traditional Georgian Dances (Live Performance)Restaurant “Shadow of Metekhi” 29 K. Tsamebuli Ave. Tel: 230-30-30 20:30-23:30 - Georgian Songs (Live Performance)Restaurant “Puris Sakhli” 7 Gorgasali Str. Tel: 230-30-30 20:00-23:00 - Trio - Georgian Songs Live Performance Restaurant “Maspindzelo” at Bambis Rigi 7, Bambis Rigi Str. Tel: 230-30-30 21:00-24:00 - Band “Zarebi” (Covers)Pub “Dublin”

8 Akhvlediani Str, Tel: 298-44-67 20:00-23:00 - Classical Music - Piano and ViolinRestaurant “Maspindzelo” in Abanotubani 7 Gorgasali Str. Tel: 230-30-30


Theatre20:00 - “Woman with Dog” - (Ticket Price - 11 GEL)Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 19:00 - “A Clockwork Orange” Premiere - (Ticket Price - 5, 10, 15 GEL)Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21

GalleryExhibition of the works of Vakhtang Tato Akhalkatsishvili - “Your Mystery”. At the exhibition will be presented 28 new abstract works full of new energy and harmony - (Everyday 12:00-20:00)“Tifl is Avenue” Gallery 8/10, Erekle II Str. Tel: 298-20-14, 577 50-64-50 Exhibition - “Galaktioni 120”Literature Museum 8 Giorgi Tchanturia Str. Tel: 598 16-70-4812:00-22:00 - Mixed Exhibition of Georgian Artists - (paintings, graphics, porcelain, enamel, woodcraft...)Gallery “Cameo”11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-6612:00-19:00 - Cloisonne Art ExhibitionEnamel Gallery “Ornament”7 Erekle II Str. Tel: 298-90-1310:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon”12, Baratashvili Str. Tel: 293-25-90

DECEMBER 22, 2011

Clubs, Pubs…21:00 - Band “Band’a’roll”, DJ DatunaSkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00 - Nodiko Tatishvili & Salome Bakuradze, Group “Comic Condition”Club “Two Side” 7 Bambis Rigi Str. Tel: 230-30-30 22:00 - Resident DJ TakoLounge Bar “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha”Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 6920:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songsRestaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 22:00 - Maia Kvirkvelia & DJ DachiClub “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performanceRestaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 21:00-24:00 - Megi & CoBar “Fahrenheit” 5 Vashlovani Str. Tel: 299-67-72 20:30 - Georgian folk ensemble “Urmuli”, georgian dances Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz BandRestaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Guliko ChanturiaCafé “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 20:00-23:30 - Georgian Folk and Pop Songs, Traditional Georgian Dances (Live Performance)Restaurant “Shadow of Metekhi” 29 K. Tsamebuli Ave. Tel: 230-30-30 20:30-23:30 - Georgian Songs (Live Performance)Restaurant “Puris Sakhli” 7 Gorgasali Str. Tel: 230-30-30 20:00-23:00 - Trio - Georgian Songs Live Performance Restaurant “Maspindzelo” at Bambis Rigi 7, Bambis Rigi Str. Tel: 230-30-30 21:00-24:00 - Band “Zarebi” (Covers)Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67 20:00-23:00 - Classical Music - Piano and ViolinRestaurant “Maspindzelo” in Abanotubani 7 Gorgasali Str. Tel: 230-30-30

CinemaRustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Mission: Impossible - Ghost Protocol”;“Carnage”;

“247°F”;“Happy Feet Two”;“The Twilight Saga: Breaking Dawn - Part 1”;“Love Story”(Ticket Price - 8 - 14 GEL)“Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Mission: Impossible - Ghost Protocol”;“247°F”;“Happy Feet Two”;“The Twilight Saga: Breaking Dawn - Part 1”;“Love Story”(Ticket Price - 8 - 14 GEL)“Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47“Mission: Impossible - Ghost Protocol”;“247°F”;“Happy Feet Two”;“The Twilight Saga: Breaking Dawn - Part 1”;“Love Story”(Ticket Price - 7 - 10 GEL)

ConcertXIV International Music Festival - “New Year Music Celebrations”19:00 - Folk Music Evening - Bravo Maestro! Dedicated to the 70th anniversary from Anzor Erkomaishvili’s birth. Ensembles: “Rustavi”,”Patriarchate Choir of the Trinity Cathedral Church”, “Anchiskhati Cathedral Choristers’ Choir”, “Basiani”, “Tbilisi”, “Imeri”, “Shavnabada”, “Didgori”, Trio “Shalva Chemo”, Polikarpe Khubulava - (Ticket Price - 5, 8, 12, 15 GEL)Tbilisi V. Sarajishvili State Conservatory (Grand Stage) 8 Griboedov Str. Tel: 293-46-24

Theatre19:00 - “Mad World” Premiere - (Ticket Price - 10 GEL)Rustaveli Theatre (Experimental Stage) 17, Rustaveli Ave. Tel: 272-68-68 20:00 - “Revisor” Premiere - (Ticket Price - 4 - 11 GEL)Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 20:00 - “Blind Visible” - (Ticket Price - 11 GEL)Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 19:00 - “Jeans Generation” - (Ticket Price - 5, 10, 12 GEL)Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 19:00 - “Veris Ubani’s Melodies” - (Ticket Price - 10, 15 GEL)V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 19:00 - “Blaze” - (Ticket Price - 5 GEL)Ilia University Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15


DECEMBER 23, 2011

Clubs, Pubs…21:00 - Agora Live Band, DJ DatunaSkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00 - Giorgi Tsiklauri & Khatuna Jalaghonia with David Iluridze Live Band24:00 - DJ Club “Two Side” 7 Bambis Rigi Str. Tel: 230-30-30 22:00 - Resident DJ TakoLounge Bar “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha”Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 6920:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songsRestaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 22:00 - Gio Khutsishvili & DJ DachiClub “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00-23:00 - Georgian DancesRestaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 22:00-01:00 - Group “Comic Condition”Tavern “Scarlet Sails” 25, Leselidze Str. Tel: 293-10-28 20:30 - Maidan Jazz BandRestaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz BandRestaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Maia BaratashviliCafé “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 20:00-23:30 - Georgian Folk and Pop Songs, Traditional Georgian Dances (Live Performance)Restaurant “Shadow of Metekhi” 29 K. Tsamebuli Ave. Tel: 230-30-30 20:30-23:30 - Georgian Songs (Live Performance)Restaurant “Puris Sakhli” 7 Gorgasali Str. Tel: 230-30-3020:00-23:00 - Live Folk Music performance by

“EgAri”Restaurant “Maspindzelo” at Bambis Rigi 7, Bambis Rigi Str. Tel: 230-30-30 21:00-24:00 - Band “Zarebi” (Covers)Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67 20:00-23:00 - Classical Music - Piano and ViolinRestaurant “Maspindzelo” in Abanotubani 7 Gorgasali Str. Tel: 230-30-30


Theatre19:00 - “Mad World” Premiere - (Ticket Price - 10 GEL)Rustaveli Theatre (Experimental Stage) 17, Rustaveli Ave. Tel: 272-68-68 21:00 - “Who is Oliver” TV show - (Ticket Price - 5, 7, 10, 12, 15 GEL)Rustaveli Theatre (Grand Stage) 17, Rustaveli Ave. Tel: 272-68-68 20:00 - “Revisor” Premiere - (Ticket Price - 4 - 11 GEL)Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 20:00 - “Roaming Soul” Premiere (Finger Theatre) - (Ticket Price - 11 GEL)Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 19:00 - “First Died then Married” - (Ticket Price - 10 GEL)Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 19:00 - “Beautiful Georgian Woman” - (Ticket Price - 5, 10, 15 GEL)Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 19:00 - “Veris Ubani’s Melodies” - (Ticket Price - 10, 15 GEL)V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 19:15 - “Autumn of my Springtime” +12 - (Ticket Price - 5, 10, 15 GEL)Gabriadze Theatre 13, Shavteli Str. Tel: 8 790 98-65-91 (MagtiFix), 298-65-90 19:00 - “Shakespeare Sonnets” - (Ticket Price - 7 GEL)Pantomime Theatre 37 Rustaveli Ave. Tel: 299-63-1419:00 - “As You Will” - (Ticket Price - 5 GEL)Ilia University Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15 19:00 - “Mandragora” - (Ticket Price - 7, 10 GEL)Akhmeteli Theatre 8 Vekua Str. Tel: 262-54-37, 262-59-73, 262-61-97


DECEMBER 24, 2011

Clubs, Pubs…21:00 - Veriko Turashvili & Live Band, DJ DatunaSkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00 - Nodiko Tatishvili, Khatuna Jalaghonia & Maka Gamkrelidze with David Iluridze Live Band24:00 - DJ Club “Two Side” 7 Bambis Rigi Str. Tel: 230-30-30 22:00 - Live Band “Kereoni”Art Café “Caravan” 10 Purtseladze Str. Tel: 299-66-9122:00 - Resident DJ TakoLounge Bar “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha”Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 6920:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songsRestaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 22:00 - Merab Sephashvili & DJ DachiClub “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances

Restaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 21:00-24:00 - “Cloud Blues Band”Bar “Fahrenheit” 5 Vashlovani Str. Tel: 299-67-72 22:00-01:00 - Group “Comic Condition”Tavern “Scarlet Sails” 25, Leselidze Str. Tel: 293-10-28 20:30 - Maidan Jazz BandRestaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz BandRestaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Keti ParesashviliCafé “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 20:00-23:30 - Georgian Folk and Pop Songs, Traditional Georgian Dances (Live Performance)Restaurant “Shadow of Metekhi” 29 K. Tsamebuli Ave. Tel: 230-30-30 20:30-23:30 - Georgian Songs (Live Performance)Restaurant “Puris Sakhli” 7 Gorgasali Str. Tel: 230-30-30 20:00-23:00 - Live Folk Music performance by “EgAri”Restaurant “Maspindzelo” at Bambis Rigi 7, Bambis Rigi Str. Tel: 230-30-30 20:00-23:00 - Classical Music - Piano and ViolinRestaurant “Maspindzelo” in Abanotubani 7 Gorgasali Str. Tel: 230-30-30 21:00-24:00 - Band “Rustavi 2” (Covers)Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67


ConcertXIV International Music Festival - “New Year Music Celebrations”20:00 - Piano Recital - Boris Berezovsky - (Ticket Price - 10, 20, 40, 50 GEL)Tbilisi V. Sarajishvili State Conservatory (Grand Stage) 8 Griboedov Str. Tel: 293-46-24

Theatre19:45 - “As You Will or the Twelfth Christmas Night” - (Ticket Price - 6 - 12 GEL)Rustaveli Theatre (Grand Stage) 17, Rustaveli Ave. Tel: 272-68-68 19:00 - “I Love You, I Love You, I Love You” - (Ticket Price - 5, 10, 15 GEL)Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 19:00 - “Toy Pistol” -(Ticket Price - 10 GEL)Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 19:00 - “Veris Ubani’s Melodies” - (Ticket Price - 10, 15 GEL)V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 18:00 - “Guardians of our Family” - (Ticket Price - 5 GEL)Griboedov Theatre 2 Rustaveli Ave. Tel: 293-11-06 19:15 - “Autumn of my Springtime” +12 - (Ticket Price - 5, 10, 15 GEL)Gabriadze Theatre 13, Shavteli Str. Tel: 8 790 98-65-91 (MagtiFix), 298-65-90 19:00 - “French Garnish” - (Ticket Price - 5 GEL)Ilia University Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15 19:00 - “Taxi Driver Givi’s Love Story” - (Ticket Price - 7, 10 GEL)Akhmeteli Theatre 8 Vekua Str. Tel: 262-54-37, 262-59-73, 262-61-97


For more information, please,visit the following website:

www.info-tbilisi.comE-mail: afi [email protected]

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HEIDELBERGCEMENT TO ANNOUNCE INTERNATIONAL SCIENTIFIC AND EDUCATIONAL COMPETITION

THE QUARRY LIFE AWARDHeidelbergCement an-

nounced international scientifi c and educational competition-The Quarry Life Award, con-ducted simultaneously in 17 countries, including Georgia.

“It’s very important to fo-cus on environmental issues in parallel with the country’s economic development. Quarry Life Award initiated by Heidel-bergCement is another incen-tive for stimulating our society to become more environmen-tally involved,” declared Goga Khachidze, Minister of Envi-ronment Protection of Georgia, during the press conference held on December 15, 2011 at Holiday Inn hotel.

HeidelbergCement Georgia calls on students and research-ers to further develop the bio-logical value of mining sites. In the frame of the project, follow-ing prices will be given to se-lected winners: national prizes of 1 500, 3 000 and 5 000 euros and three global awards of 10 000, 20 000 and 30 000 euros.

“Quarry Life Award project initiated by HeidelbergCement is important not only for our company but for our country as well. HeidelbergCement Group made a responsible decision to

announce a competition in 17 countries worldwide in order to gather as much ideas as pos-sible in order to assist the pro-motion of species diversity in quarries and gravel pits,” stated Akaki Chkhaidze, Marketing and Sales Director of Heidel-bergCement.

The Quarry Life Awards of-fers a unique opportunity to add true ecological and educa-tional value to a mining envi-ronment.

Candidates will have to choose one of the selected min-ing sites and submit a project around one of the four topics by February 17, 2012: Discover biodiversity in mining sites; Biodiversity and rehabilitation; Biodiversity and education; Biodiversity management dur-ing extraction.

From March to September 2012, participating quarries will open their doors for the se-lected candidates. In November and December 2012, the na-tional and global expert juries will reward the best projects at both levels.

“3 quarries participate in Quarry Life Award project in Georgia: Kavtiskhevi Limestone Quarry in Shida Kartli, Garda-

bani Clay Quarry in Kvemo Kar-tli, Dedoplistskaro Limestone Quarry in Kakheti. The projects submitted have to be unique, creative and practical,” said Nino Subeliani, Communications Manager, HeidelbergCement.

For detailed information vis-it the Georgian website: www.quarrylifeaward.ge

HeidelbergCement is the global market leader in aggre-gates and a prominent player in the fi elds of cement, concrete and other downstream activi-ties, making it one of the world’s largest manufacturers of build-ing materials. The company employs some 53,000 people at 2,500 locations in 40 countries.

With its leading position in the Georgian cement market, HeidelbergCement Georgia operates three cement plants in the Kaspi and Rustavi Re-gions. HeidelbergCement em-ploys more than 1100 people in its production companies in Georgia: HeidelbergCement Georgia (former SaqCementi) and Kartuli Cementi. Beside the cement companies, Heidel-bergCement successfully oper-ates in concrete business line and owns production company HeidelbergBeton Georgia.

Publicity

socially socially responsible companiesresponsible companiesBP’s CSR Project Given National

Energy Globe AwardThe FINANCIAL

By NANA MGHEBRISHVILI

“The ‘Energy Effi ciency Pro-gramme for Georgian Communities - Energy Bus’ that was launched by BP and its Oil and Gas Co-venturers was awarded the National Energy Globe Award in the category “Youth” at the National Energy Globe Award Ceremony held on 25 November 2011 in Wels Austria,” Rusudan Medzma-riashvili, CSR Manager at BP, told The FINANCIAL.

“This was one of the initiatives we have implemented in Georgia under our CSR programme. BP and its programme partners aimed to raise awareness on energy effi ciency among Georgian communities with this project.”

Q. How can companies in Georgia benefi t from social re-sponsibility projects?

A. Social responsibility projects are benefi cial for any company since they positively contribute to the com-pany’s reputation both with external (governments, customers, service providers, general society etc) as well as with internal (company’s employ-ees) stakeholders.

Q. How does CSR effect a company’s fi nancial success and can a responsible business help prevent recession?

A. In its wider meaning CSR in-volves such important areas of a company’s operations as compliance to local and international regulations and laws, protection of the environ-ment, relationships with customers and contractors, development of its own staff and creation of a favour-able working environment, creation of a sustainable environment for business development, which if ad-dressed in a proper way will cer-tainly create favourable conditions for business development, therefore contributing to a company’s fi nancial success.

Q. How can Georgian soci-

ety support or encourage the development of social respon-sibility among Georgian busi-nesses?

A. Georgian society has a role to play in encouraging businesses to act in a responsible way through its interest and participation in the ways the company does its busi-ness, through promoting the notion of encouraging socially responsible companies, and through supporting a favourable legal regime for respon-sible companies.

Socially responsible companies operating at high standards bring benefi ts to societies through skills development, setting high perfor-mance standards within the indus-try, and bringing lasting benefi ts to the neighbouring communities and society in general through different sustainable programmes.

Q. What are the key direc-tions of CSR which should defi -nitely be implemented? Why?

A. CSR should be at the core of a company’s operations affecting all

aspects of its activities in the country. I can not single out any aspect, all of them are important and should be taken care of. A responsible company should be responsible everywhere and at all times.

Consulting NGOs on certain de-velopmental aspects is benefi cial for companies, since this provides opportunity to see issues from a dif-ferent perspective. In some cases companies can use the skills and ex-pertise accumulated in NGOs for the company’s benefi t - through consult-ing with NGOs, employing them as implementing partners for some en-vironmental and social initiatives etc.

Q. The social responsibility of companies in Georgia is of-ten expressed through charity actions and does not include benefi ts to the company itself. What is the solution for switch-ing existing social projects into sustainable activities?

A. Charitable activities are one of the forms of taking care of the disad-vantaged parts of society, and they certainly have a positive impact on a company’s image. However the ef-fects of charitable activities are short term. In order to bring lasting bene-fi ts to society more sustainable initia-tives should be implemented, and the two do not exclude each other.

Q. How should companies build sustainable success in terms of CSR?

A. Sustainability is the result of clearly defi ned long term strategy and consistency in its implementa-tion.

Q. How should companies develop employees and a future workforce to build successful working lives?

A. Employee development should be at the core of each business and should be part of its long-term busi-ness strategy and vision, with the clear focus on creating equal oppor-tunities and a balanced working en-vironment. Surely there is more to it and it is up to each company to draw the strategy of staff development

which better fi ts its business purpose.Q. CSR could be considered a way

of brand differentiation. What are the ethical values that companies should use based on CSR?

A. Some of the top values would be respectful and trustworthy business conduct resulting in the sustainable development of wider society.

Q. Reporting is one of the main principles of socially re-sponsible business. Though very few companies in Georgia make public their fi nancial in-formation. In your view what can encourage companies to start making pubic reports?

A. External (customer, sharehold-er, partner etc) pressure for trans-parency, as well as its willingness to demonstrate its adherence to best international practice.

Q. What are the main chal-lenges and obstacles of CSR in business nowadays?

A. Although more and more com-panies are considering CSR seri-ously, there is still little awareness around it in society. Building aware-ness of CSR is essential for the two-way communications between busi-ness and society.

Each company should have its own corporate values that should be crosscutting for all its activities and which should be consistently employed

Rusudan Medzmariashvili,CSR Manager at British Petroleum

DECEMBER 16. 2011, AMCHAM MEMBERS' APPRECIATION RECEPTION.


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| places we strongly reccommend to visit | dining

COFFEE GE27, Abashidze Str.Tel: (+995 32) 2225066

SIANG-GAN41, Gamsakhurdia Str.Tel: (+995 32) 2379688

DUBLIN IRISH PUB8, Akhvlediani Str.Tel: (+995 32) 2984467

BUFFALO BILL16, Akhvlediani Str.Tel: (+995 32) 2936052

SANTA FE20, Akhvlediani Str.Tel: (+995 32) 2935848

Red Café - Bistro & Cafe Tel: 2201 [email protected]

# 71 Vazha-phavela Ave.

VERASTEAKHOUSE37, Kostava Str.Tel: (+995 32) 2983767

SEGAFREDO ZANETTI ESPRESSO26, Chavchavadze AveTel: (+995 32) 2223677

TSISKVILIBeliashvili Str.Tel: (+995 32) 2530797

SANCHO23, Akhvlediani Str.Tel: (+995 32) 2982598

TOUKAN8, Kiacheli Str.Tel: (+995 32) 2996553

DISCOVERY40, Chavchavadze Ave.Tel: (+995 32) 2294230

PICASSO4, Vashlovani Str.Tel: (+995 32) 2989086

Hangar Bar# 20 Shavteli Str.Tel: (+995 32) 293 10 80

DONUTS10/12, Abashidze Str.Tel: (+995 32) 2253985

ENGLISHTEEHOUSE5, Marjanishvili Str.Tel: (+995 32) 294162032, Paliashvili Str.Tel: (+995 32) 2221109

Better seen than heard

Better seen than heard

PREGO2, Vazha pshavela Ave. Tel: 3736107, Paliashvili Str. Tel: 225 22 5825, Tarkhnishvili Str. Tel: 225 25 16

French - Europeanbar-restaurantPleasant and cozy atmosphereHigh quality service,live music every day

Belle Ville26, l.Kiacheli Str.Tel: (+995 32) 293 65 53

Prospero’s Books34, Rustaveli Ave. Tel: (+995 32) 2923 592

LITERATURULI CAFÉ

2, Tarkhnishvili Str.Tel: (+995 32) 244454631, Pekini Str.Tel: (+995 32) 231305722, Abashidze Str.Tel: (+995 32) 222027636, Kostava Str.Tel: (+995 32) 2990746

64, Paliashvili Str.Tel: (+995 32) 2250669

24/24

4 Freedom Square,

Tel: 254 70 30

E-mail:[email protected]

www.citadines.com

Entree13 Taktakishvili Str.Tel: 59119839820 Rustaveli Ave.Tel: 59119396819 Petriashvili Str; 7 Pekini Str.78 Bagebi Str

43 Abashidze Str.Tel: 222 60 18


C M Y K

GEORGIA - LAND OF THE FREE

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Documents

CSR Special Edition / The FINANCIAL