Discussing the Challenges Facing SMEs Seeking Access to Finance

Nov, 2018

On November 29, Giorgi Khishtovani, Director at PMC Research, presented the main findings and recommendations of –research entitled “Leveraging SME Finance through Value Chains in Georgia” in Astana, Kazakhstan.

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Presenting New and Simplified Financial Reporting Standards to SMEs

Nov, 2018

On November 21-22, an informative-consultative meeting of 4th category enterprise representatives took place in Batumi and Telavi. The event was intended to increase awareness of representatives of small- and medium-sized enterprises (SMEs) regarding new financial reporting standards by presenting to them recent updates and self-learning materials.Over 150 representatives from SMEs, training centers and the Service for Accounting, Reporting and Auditing Supervision (SARAS) participated in the event.  “SMEs play a key role in the economic growth of Georgia and simplified financial reporting standards will enable them to comply with various international and national standards and expand their production,” said PMCG’s consultant Nino Khatisashvili. Moreover, the presentations were interactive and triggered interesting discussion about the challenges faced by 4th category enterprises. The new accounting and reporting standards for SMEs should improve the quality and transparency of corporate financial statements, enable easier compliance with obligations, reduce administrative burdens, and provide an opportunity to focus on business growth and access to finance. The meetings were organized as part of the Good Governance Fund (GGF) project "Corporate financial reporting support for 4th category enterprises," which is being implemented by PMCG, as part of a consortium led by PricewaterhouseCoopers (PwC), in cooperation with the SARAS. Please kindly follow the link below for detailed information about the project:Good Governance Fund

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Supporting Intellectual Property Rights Reform in Ukraine

Nov, 2018

We are collaborating with the Ministry of Economic Development and Trade of Ukraine (MoEDT) to implement reforms to the state management of intellectual property (IP) rights.The main aim of the project is to enhance Ukraine’s performance in managing IP and to develop a suitable legal framework, specifying the functions of the National Office for Intellectual Property (IP Office) as well as developing a detailed organizational structure for the IP Office.The project is being implementing by PMCG, as part of a consortium led by PricewaterhouseCoopers LLP UK (PwC), under a UK Government Good Governance Fund (GGF) project.More specifically, PMCG will: facilitate discussions regarding a draft law outlining the structure and functions of the IP Office; define the functions and procedures of the Board of Appeals within the IP Office in accordance with the best practices in EU; develop profiles and job descriptions of key positions for each department within the IP Office; and prepare a detailed organizational structure implementation road map.Moreover, we will also define key roles, responsibilities and levels of authority within the newly-established organizational structure, which will encompass identifying management levels and roles, segregating duties and responsibilities between different management levels, and identifying both horizontal and vertical communication mechanisms.Ultimately, the MoEDT will be able to establish a simpler and quicker process for the registration of IP rights in the IP Office and will enhance the protection of IP rights in Ukraine.Please kindly follow the link below for detailed information about the project:Assistance to the Ministry of Economic Development and Trade of Ukraine (MoEDT) with Implementation of Reform of the State Management of Intellectual Property Rights

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Better Skills for Better Jobs – Developing Employment and Vocational Education System in Georgia

Nov, 2018

On November 15, the Delegation of the European Union to Georgia and the Government of Georgia summarized four years of cooperation aimed at developing the Employment and Vocational Education and Training (EVET) system in Georgia.

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Sharing Georgia’s Successful Reforms with Ukrainian Delegation

Nov, 2018

On November 9, David Lezhava, Public Policy Sector Director at PMCG, delivered a presentation and shared Georgia’s experience of introducing economic reforms and innovations in the public sector to a delegation from Ukraine. “The focus was placed on the continuous and comprehensive nature of business-enabling reforms. Discussion was productive, and we shared interesting insights,” said Lezhava.The presentation was held at Georgian Institute of Public Affairs (GIPA). On November 6-10, the Institute hosted a delegation comprising Andrii Halushchak, State Secretary of the Ministry of Infrastructure of Ukraine, and two of his colleagues - Iryna Koshel, head of the public management reform support team, and Oksana Lesyk, senior project manager. The aim of their visit was to share modern approaches and ways of dealing with challenges that arise in the process of introducing reforms. The workshop was organized by GIPA and was funded by the Foundation for Support of Reforms in Ukraine.

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Chinese Academy for Fiscal Sciences Set for Cooperation with Tbilisi State University and Academy of the Ministry of Finance of Georgia

Nov, 2018

On November 6, PMC Research organized a meeting between the Chinese Academy of Fiscal Sciences (CAFS) and Tbilisi State University (TSU), with the aim of introducing these two institutions to each other and discussing collaboration opportunities. As a result of the meeting, various cooperation models were discussed, including an internship program at the CAFS for researchers from TSU. “We are pleased that we had the opportunity to connect these two institutions with each other. The CAFS is one of the largest think tanks working on public administration and public finance in China. So, the proposed internship would be interesting and fruitful for researchers from TSU to enhance their skills and knowledge,” said Tamar Japaridze, Executive Director at PMC Research. Another productive meeting was held between the CAFS delegation and the Academy of the Ministry of Finance of Georgia. The two institutions shared their experience and considered the prospective joint projects, including a trade forum, focused on the advantages of the Belt and Road Initiative, and the challenges and opportunities related to trade between Georgia and China. The CAFS delegation visited Georgia through November 6-7. Along with representatives of academia, they also met representatives of public institutions, including the Ministry of Regional Development and Infrastructure of Georgia, the National Bank of Georgia, the Ministry of Economy and Sustainable Development of Georgia, the Agriculture Projects Management Agency, and the Ministry of Finance of Georgia.The CAFS was founded by the Government of the People’s Republic of China with the aim of supporting the Government with research-based policy advising. Today, the CAFS unites 12 research centers working in different directions, including the Center for Macroeconomic Studies and the Center for Public Finance and Governance Studies, and is mostly engaged with studies on fiscal and economic theories and policies, as well as advising on issues related to government policy-making.

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PMCG Shortlisted to Support Tajikistan and Kyrgyz Republic to Improve Municipal Infrastructure

Nov, 2018

We are pleased to announce that we have been shortlisted by the European Bank for Reconstruction and Development (EBRD), as part of a consortium led by HPC AG, to implement its Municipal Infrastructure Programme in the Republic of Tajikistan and the Kyrgyz Republic.Our participation in the programme entails the design of solid waste landfills, preparation of technical specifications for construction materials, and elaboration of tender documents for procurement of works and services. In addition, we will support our clients during evaluation of construction tenders and in drafting tender evaluation reports. We will also administer the implementation of contracts dealing with the supervision of construction works.The Republic of Tajikistan and the Kyrgyz Republic face significant challenges in maintaining and improving their municipal infrastructure. Due to substantial under-investment over the last 20 years in both states, infrastructure has become dilapidated and substantial funding is required for modernization.In response to these challenges, the EBRD has launched its tailor-made Municipal Infrastructure Programme building on a strong track record of supporting infrastructure reforms through well-designed projects combined with providing institutional support to local authorities to support critical investments in different towns, which would otherwise be difficult to finance on a stand-alone basis. As a result of the collaboration foreseen under the programme, water, waste water and solid waste infrastructure is expected to be improved in Tajikistan and the Kyrgyz Republic.

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Hosting Delegation from China to Start Collaboration

Nov, 2018

On November 6-7, PMC Research hosted a delegation from China, comprising high-ranking officials from the Chinese Academy for Fiscal Sciences (CAFS). The aim of the visit was to discuss the prospects of future collaboration between the two institutions.During the meetings, special attention was paid to the Free Trade Agreement (FTA) between Georgia and China, and the current status of the Belt and Road Initiative (BRI) as well as the steps that should be undertaken to increase the efficiency and effectiveness of this initiative for both countries. The attractiveness of Georgia for investors from China, as a country having FTAs with China, the European Union and with countries in the region were also analyzed. “The meetings with the Chinese delegation were interesting and productive. We have discussed collaboration opportunities and the idea of a common platform, comprising public institutions, as well as think tanks and academic institutions. Such a platform will be very useful for Georgia, and for China to efficiently make the most of recent opportunities,” said Aleksi Aleksishvili, Head of the Governing Board at PMC Research.The delegation also met with representatives of academia, as well as public institutions, including the following: the Ministry of Regional Development and Infrastructure of Georgia; the National Bank of Georgia; the Ministry of Economy and Sustainable Development of Georgia; the Agriculture Projects Management Agency; the Ministry of Finance of Georgia; and with the Academy of the Ministry of Finance of Georgia. The CAFS is one of the largest think tanks working on public administration and public finances in China. It was founded by the Government of the People’s Republic of China with the aim of supporting the Government with research-based policy advising. Today, the CAFS unites 12 research centers working in different directions, including the Center for Macroeconomic Studies and the Center for Public Finance and Governance Studies, and is mostly engaged with studies on fiscal and economic theories and policies, as well as advising on issues related to government policy-making.  

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Azerbaijan and Kazakhstan Make Significant Progress in the World Bank’s Doing Business Ranking 2019

Nov, 2018

We congratulate the Governments of Azerbaijan and Kazakhstan with their countries’ substantial improvements in the World Bank’s Doing Business Ranking 2019. Azerbaijan has moved from 57th place in 2018 to 25th place, and is among the ten economies to have made the most emphatic improvement in performance on the Doing Business Indicators compared to 2017-2018.Azerbaijan has implemented eight reforms that makes it easier to do business since 2017-18. The country has opened a single window at the Baku City Executive Office for dealing with construction permits thereby reducing the time required to obtain a building permit by 80 days. The country has doubled its Getting Credit score to reach 80.00 largely as a result of the introduction of a new secured transactions law and insolvency law, which has brought the implementation of a functional secured transactions system, broadened the scope of assets that can be used as collateral, and provided better conditions for secured creditors. Azerbaijan has also set up a unified, modern and notice-based collateral registry, and has improved access to credit information by establishing a new credit bureau.According to the 2019 rankings, Kazakhstan is among 46 economies that improved the most across three or more Doing Business indicators in 2017/18, and moved overall from 36th place in 2018 to 28th. The country has made notable progress in the following areas: making it easier to start up a business by reducing the time required for value added tax registration; allowing for smoother cross-border trade by introducing an electronic customs declaration system (ASTANA-1 IS) as well as by reducing customs administrative fees; and in enforcing contracts by making judgments rendered at all levels in commercial cases publicly available and publishing performance measurement reports on local commercial courts. “PMCG is particularly delighted with this positive news, as we, together with our partners and international institutions, strive to deliver progress. We would like to once again congratulate the governments of Kazakhstan and Azerbaijan on such remarkable progress and wish them both even more success in the nearest future,” said David Lezhava, Public Policy Sector Director at PMCG.   Follow this link for more detailed information: http://www.doingbusiness.org/en/reports/global-reports/doing-business-2019   

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Georgia Rises to 6th Place in the World Bank’s Doing Business Ranking 2019

Nov, 2018

We are pleased to share the news that Georgia has recorded an impressive rise in the World Bank’s Doing Business Ranking 2019. We would like to congratulate the Government of Georgia (GoG) on this success. In addition, we are glad to have played a part in this progress by working with the Government to enhance and improve the country’s business environment.“The progress that Georgia has shown is very important. We expect that this result will be reflected in the country’s economic growth and development,” said Aleksi Aleksishvili, Chairman and CEO at PMCG. Georgia has moved from 9th place in 2018 to 6th place in 2019 and stands behind New Zealand – 1st, Singapore – 2nd, Denmark – 3rd, Hong Kong SAR, China – 4th, and South Korea in 5th place. The country occupies the leading position in the Europe and Central Asia region, ahead of the following countries: Macedonia - 10th, Azerbaijan – 25th, Kazakhstan – 28th, Armenia – 41st, Turkey – 43rd, Kosovo – 44th, Moldova – 47th, Albania – 63rd, and Ukraine – 71st place.“The ranking shows the positive developments in Georgia. Now, the Government of Georgia has to focus on those indicators where we have an opportunity to make more progress, such as trading across borders, and especially streamlining import-related procedures,” explained Giorgi Khishtovani, Director at PMC Research. The 2019 scores are overall exceptional for Georgia, as the country has improved in 7 out of 10 indicators and has maintained the same position in the other three.   Follow this link for more detailed information: http://www.doingbusiness.org/en/data/exploreeconomies/georgia

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