EU4Business project helps set up business clusters for better access to EU market

Published in World
Tuesday, 21 April 2020 13:22

Up to 100 Georgian small and medium-sized enterprises (SMEs) are now in a better position to take advantage of the benefits of the free trade agreement between the EU and Georgia.

The EU-supported project ‘SME Development and DCFTA in Georgia’ has helped to establish three business clusters in the country and to lay the groundwork for two more, reaching out to 100 SMEs specialising in furniture, interior design, film production and post-production, ICT, apparel and honey production.

As a result of the 4-year project, these SMEs have received access to leading international expertise to help them identify opportunities for capacity and product development, better competitiveness and integration with the European market.

Cluster member SMEs currently employ more than 1,400 staff members in Georgia.

Read 676 times

Related items

  • EU helps open Arbitration and Mediation Centre to support Armenian businesses

    On 20 October, the EU-supported Arbitration and Mediation Centre started operating in Armenia. The vision and statutes of the new organisation were presented at the launch event in Yerevan.

    “The EU advocates and supports the introduction of alternative dispute resolution measures in Armenia, with a particular focus on arbitration. It plays an important role in helping to find quick and fair solutions to complex cases facing the business world,” said Andrea Wiktorin, Head of the EU Delegation to Armenia.

    The event was also attended by representatives of the Armenian Ministry of Justice, the Central Bank of Armenia, diplomatic missions, international organisations, international and local experts in arbitration.

    Find out more

    Press release

  • GLOBALink | China's industrial profits down 2.1 pct in first 8 months

    Profits of China's major industrial firms fell 2.1 percent year on year in the first eight months of 2022, official data showed on Tuesday.

    Industrial firms each with annual main business revenue of at least 20 million yuan (about 2.83 million U.S. dollars) saw their combined profits reach 5.53 trillion yuan in the period, the National Bureau of Statistics (NBS) said.

    The combined revenues of these firms sustained a quicker growth pace during the period, rising 8.4 percent year on year to 87.89 trillion yuan, NBS data showed.

    Senior NBS statistician Zhu Hong pointed out the improvement in business profit structure, noting that curbed rising momentum in the prices of some commodities eased pressure on downstream producers.

    A total of 16 out of 41 major industries saw growth in profits in the January-August period. The electrical machinery and equipment manufacturing sector saw profits jump 20.9 percent year on year and the profits of the manufacturing of chemical raw materials and chemical products rose 5 percent.

    The profits of consumer goods manufacturing have continued to improve thanks to an array of pro-consumption measures by the government to boost market demand, Zhu noted.

    Produced by Xinhua Global Service

     

  • Visa Partners Business Federation “Women for Tomorrow” and Announces Business Contest within She’s Next, Empowered by Visa in Georgia

    Tbilisi, September 21, 2022 – Visa launches the third wave of She’s Next, Empowered by Visa in Georgia and in partnership with Business Federation Women for Tomorrow announces a public business contest for women entrepreneurs in Georgia. Women entrepreneurs are invited to share their business ideas in the competition for free mentoring sessions and money prizes, namely the first-place winner will be awarded with 25 000 Gel and the second-place winner with 15 000.  

    The contest is conducted in the form of Visa elevator pitch under the She’s Next, Empowered by Visa global initiative in Georgia designed for women, who have interesting business ideas or already run their own personal business, hold the position of a CEO or representative of a small or medium-size business, or be the founder of a startup company.[1]

    I am proud, that Visa established the tradition in Georgia of continuing support of female SMBs within the global initiative She’s Next, Empowered by Visa. We are extremely happy to announce the third wave of the campaign and conduct the joint contest with w4t, aiming to empower women entrepreneurs in Georgia. Within the contest, we invite women, who lead startup, or have an interesting business idea, eager to learn pitching techniques for allocating solid money prizes. I strongly encourage each and every woman, aspiring to put down roots in the world of business,to take part in this promising initiative and become part of the She’s Next” - said Diana KiguradzeVisa Country Manager for the Caucasus region.

    It is an honor for Women for Tomorrow to be part of the global initiative - She’s Next empowered By Visa since 2020 and support women entrepreneurs to boost their business knowledge and expertise and achieve economic independence. We are proud, to launch the business contest in partnership with Visa and announce the callwhere only women start-upers and entrepreneurs are able to register, present their business idea, advance in pitching and presentation skills and compete for the financial support aiming to increase their progress and development. We encourage every woman from all over Georgia to participate in the program, make an opportunity to challenge yourself to become a winner Wish you the best of luck! – noted Nina Kobakhidze Chair of the Board of the Business Federation Women for Tomorrow.

    The competition will be held in three stages: 

    • Application process[2], an independent jury will first check if each application meets all eligibility criteria and will be followed by the selection of TOP 10 most successful and highly promising women entrepreneurs who will be granted to access free mentoring consulting sessions. 
    • Mentoring Sessions, the TOP 10 female SMEs will undertake two-day free consulting sessions, be assisted by the field experts to learn pitching techniques and create effective presentation to attract investments and develop their business. 
    • Visa Elevator Pitch Day and Award Ceremony, at the third and final stage of the competition, the TOP 10 candidates will be required to pitch a business idea (in the form of Elevator pitch) in 90 seconds in front of jury.  2 winners will be selected by a professional jury on the same day. The first-place winner  will be awarded with 25 000 Gel and the second-place winner with 15 000 Gel. 

     Interested candidates should carefully read rules of the contest and complete the application form, include a letter of motivation in Georgian and submitted by the  link it by 10 October 2022. 

    ###

    Visa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.ge



    [1] The rules of the campaign are available on the link

    [2]  Only one application form and business idea per applicant will be accepted for the contest

  • GLOBALink | 23-year-old Chinese girl shares story of running B&B business

    From a college student to a B&B business owner, a Chinese girl sees her entrepreneurship dream come true through persistent efforts. She now runs a B&B business in central China's Changsha. #GLOBALink

    Produced by Xinhua Global Service

  • EBRD supports Ukraine’s Bank Lviv with €10 million loan for lending to SMEs affected by war

    The European Bank for Reconstruction and Development (EBRD) announced that it will support Ukraine’s Bank Lviv with up to €10 million to lend to private enterprises, including food security clients and those who have relocated their businesses to western Ukraine.

    The EBRD’s share of €4.25 million will be complemented by up to €5.75 million funding from other lenders, including €4.75 million jointly contributed by the European Fund for Southeastern Europe (EFSE) and the Green for Growth Fund (GGF).

    The loan falls within the EBRD’s Resilience and Livelihoods Framework (RLF) for companies and countries affected by Russia’s war on Ukraine, which began on 24 February. With donors and partners, the EBRD has pledged to invest €1 billion into the Ukrainian economy this year.

    Find out more

    Press release

Business News

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi 2015 forum started today. Following the success of the inaugural Routes Silk Road...

Agreement between SES and GEE

Agreement between SES and GEE

A new multi-year agreement was signed between worldwide satellite operator SES and Global Eagle Ente...

Visa free regime to impose for 15 February

Visa free regime to impose for 15 February

The visa regime imposed by Georgia to Iran has been cancelled for 15 February,” -the Deputy Ambassad...

USA to allocate 63 million US dollars for Georgia

USA to allocate 63 million US dollars for Georgia

U.S. Department of State to allocate 63 million US dollars for Georgia. According to the budgetary d...

MOST READ

« February 2023 »
Mon Tue Wed Thu Fri Sat Sun
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28          

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media