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
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
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.
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.
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.
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.
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.  
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   
Discussing Economic Reforms in Central Asia and their Likely Impact on Trade and Investment

Oct, 2018

On October 17-18, Mr. David Lezhava, Public Policy Sector Director at PMCG, participated in the Central Asia Trade Forum (CATF), which was organized with the support of USAID project “Competitive Trade and Jobs (CTJ) in Central Asia” and was co-hosted by the Ministry for Foreign Trade of the Republic of Uzbekistan.The CATF is an annual event that aims to increase the competitiveness of priority industries and to enhance trade within Central Asia, between Central and South Asia as well as between Central Asia and other foreign markets. This year, the forum’s key topic was “New Horizons in Trade and Investment” with a primary focus on discussing how economic reform in Central Asia creates opportunity for greater trade and investment.Mr. Lezhava moderated a panel discussion entitled “Investment Climate in Central Asia,” which was dedicated to discussing recent economic reforms in Uzbekistan and other Central Asian countries and their likely expanding impact on trade and investment. The speakers in this panel discussion were Ms. Tara Blake, Director of International Project Finance at the Overseas Private Investment Corporation (OPIC), Mr. Otabek Muhammadiyev, Country Managing Partner at PwC, Mr. Eldor Mannopov, Uzbekistan Managing Partner at Dentons, and Mr. Scott Hershman, Partner at White & Case.The event brought together over 1000 delegates in Tashkent, Uzbekistan, including business executives, government leaders and industry experts from Asia, the United States, Europe and the Middle East.
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
Assessing Safety of Sioni and Algeti Dams

Nov, 2018

  We recently launched a new project aiming to assess two dams in the Kakheti and Kvemo Kartli regions of Georgia. PMCG, as part of a consortium led by Temelsu, will assist state-owned company Georgian Amelioration LTD, which is under the supervision of the Ministry of Environmental Protection and Agriculture of Georgia (MEPA).The project aims to inspect the condition of Algeti and Sioni dams, which feed Kvemo Samgori and Tbilisi-Kumisi irrigation systems, to evaluate their appurtenances and performance history, and to prepare dam safety assessment reports in accordance with World Bank policies. In pursuit of its objectives, PMCG will implement dam safety measures, procure equipment recommended in the assessment, install an automated dam monitoring system, and establish an early warning system and associated preparedness plan. Moreover, PMCG will also provide capacity assessment of local authorities and training of operational and management staff in dam safety.As a result, this project seeks to provide recommendations for remedial measures and safety-related measures necessary to upgrade these dams to an acceptable standard of safety.   Please kindly follow the link below for detailed information about the project: Independent Dam Safety Assessment and Design & Author’s Supervision of Dams Safety Activities for Algeti & Sioni Dam
Campaign to Raise Awareness about EU Activities Aiming to Support Employment, Vocational Education and Training

Oct, 2018

We recently took part in an information campaign about the initiatives of the European Union (EU) to support employment and vocational education and training (EVET) sectors.As part of the campaign, PMCG, together with representatives of the Ministry of Education and Science, Culture and Sports, and the Ministry of Internally Displaced Persons from Occupied Territories, Labor, Health and Social Affairs of Georgia visited educational institutions to raise awareness and demonstrate the benefits of EU activities.The campaign was conducted as part of the EU project “Employment and Vocational Education and Training (EVET) Communication Unit,” which aims to increase awareness about the EU and its activities in Georgia in the areas of EVET. Moreover, it seeks to emphasize the short- and long-term impacts these will have on improving people's lives and the country's development.The EU is actively involved in developing vocational education and training (VET) in Georgia and introduces programs to support matchmaking of employers with potential employees through various activities.Accordingly, during the campaign, PMCG visited 10 educational institutions around the country - universities in Telavi, Gori, Kutaisi, Akhaltsikhe, Zugdidi, and Batumi, as well as four public schools in Tbilisi - and gave an opportunity to over 1000 students and pupils around the country to discuss their future education, career and employment plans with career guidance consultants and employment support service specialists.   Please kindly follow the link below for detailed information about the project: EVET Communication Unit
New Study to Improve Access to Employment, Entrepreneurial and Educational Opportunities

Oct, 2018

PMC Research recently launched a new applied research project entitled “The regional market assessment in Georgia using components of Smart Specialization” aiming to assess the private business sector in Tbilisi and five target municipalities within Kvemo Kartli and Samegrelo-Zemo Svaneti regions.The project is being implemented by PMC Research in partnership with Action Against Hunger under the GIZ project “Economic Participation of Internally Displaced Persons and Vulnerable Local Population in the South Caucasus” (EPIC).The main objective of the project is to enhance the assessment by providing information on business trends and gaps in the employment market as well as opportunities for synergies and linkages in order to identify the most concentrated and competitive sectors of the targeted regions.More specifically, PMC Research will analyze the current size of the market and the current key business sectors in the targeted regions, and identify new businesses that have been established there. Moreover, we will examine the main constraints faced by businesses in the targeted regions and the main gaps in the labor market’s demand and supply in terms of human resources, skills, knowledge and experience, and we will also study the available resources, including funding opportunities, for businesses.After analyzing the market and identifying the most concentrated and competitive sectors of the targeted regions, the assessment will support different groups of society to improve their access to employment, as well as entrepreneurial and educational opportunities.   Please kindly follow the link below for detailed information about the project: Regional Market Assessment in Georgia Using Components of Smart Specialization
New Project to Support Azerbaijan to Strengthen Legal Protection for Women and Children who are Victims of Domestic Violence

Oct, 2018

On October 23, PMCG, as part of a consortium led by B&S Europe, launched a new EU Framework Contract in the Republic of Azerbaijan to support the State Committee for Family, Women and Children Affairs (SCFWC) to assess the functioning of Monitoring Groups on gender-based violence and violence against children and to prepare a Twinning Fiche for a future institutional twinning project. Azerbaijan adopted the Law on Combatting Domestic Violence in 2010, however further efforts are required to ensure its effective implementation through effective functioning of Monitoring Groups on gender-based violence and violence against children. The project team will assess the gaps and needs to improve the functioning of these groups. At the same time, the consortium will work to draft a Twinning Fiche necessary for launching an institutional twinning project, and to design realistic and coherent specific policy-related actions aimed at reinforcing the quality of legal protection and awareness of victims regarding local violence.   Please kindly follow the link below for detailed information about the project: Support to the State Committee for Family, Women and Children Affairs (SCFWC) of the Republic of Azerbaijan in Assessment of Functioning of Monitoring Groups on Gender-based Violence and Violence Against Children and Preparation for a Future Twinning
Introducing a Landfill Gas Flaring System in Rustavi

Oct, 2018

PMCG recently launched a new project aiming to reduce air pollution by mitigating landfill gas (LFG) emissions from Rustavi Landfill. In 2016, the Rustavi landfill cell reached its capacity and was subsequently closed with the purpose of minimizing harmful effects on the environment and on human health. With a similar purpose, PMCG will contribute to the implementation of an LFG flaring system and will provide a conceptual design For the Rustavi Solid Waste Project.More specifically, PMCG will review the present status of the closed landfill cell, select an LFG flaring system, evaluate the feasibility to install and operate a combined heat and power (CHP) unit. Moreover, a detailed design of the collection, transmission, treatment and final flaring and/or power production units will be prepared.The project is being implemented by PMCG, as part of a consortium led by HPC Paseco, under a European Bank of Reconstruction and Development (EBRD) project.Ultimately, the project seeks to reduce LFG emissions from Rustavi Landfill and to contribute to air pollution mitigation.   Please kindly follow the link below for detailed information about the project: Technical Assistance for Gas Flaring System Selection and Conceptual Design to Rustavi Solid Waste Project, Georgia
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