GLOBALink | China moving full speed ahead on advancing future-oriented infrastructure

Published in CHINA
Wednesday, 11 May 2022 17:23

Eyeing infrastructure as a pillar for economic and social development, China's central authorities have vowed to build modern infrastructure system and strengthen infrastructure construction in an all-round way.

 

Produced by Xinhua Global Service

Visa joins Grace Hopper Award Program in Georgia and Champions Woman in the information and communication technology (ICT) industry

Published in Economics
Wednesday, 13 April 2022 10:48

Tbilisi, April 13, 2022 - Visa became a part of the Grace Hopper Award Program in Georgia, founded by the USAID Economic Security Program in Georgia, in partnership with TBC Bank and UN Women.

Engaging as a supporter organization in the Grace Hopper Award Program is another step forward for Visa in its efforts of supporting women, innovations and also, contributing to development of an equal society. Empowering women in the information and communication technology (ICT) industry is especially important in terms of breaking stereotypes and overcoming challenges that women are facing nowadays. Visa believes that development of the ICT industry in Georgia itself is one of the most important driving forces in the modern economic advancement, as innovative technologies play a crucial role in the reality of rapidly growing demand on digitalization.

One of our top priorities is to spotlight and address women who face challenges and ensure they get the support needed, thus we are committed to provide equal opportunities for everyone based on professional competencies and leadership skills. Within the program we support ICT Champion category, and I believe that the winner we choose will receive our strong support, special prize and become a member of our big network.” – noted Diana Kiguradze, Visa Regional Manager for Caucasus region.

Bearing the name of a prominent American computer scientist and computer programming pioneer Grace Hopper, whose legacy continues to inspire many, this program recognizes the contribution of women that lead to positive changes in the information and communication technology (ICT) industry. The program is supported by Gender Equality Council of the Parliament of Georgia, UGT and Majorel Georgia.

To apply for the nominations and fill out the application, please visit www.ictwomen.ge Applications will be accepted from April 8 to May 8, the finalists will be revealed on May 30, and an award ceremony will be held on June 10.

 

***

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. 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

GLOBALink | China's efforts in economic remodeling, opening-up applauded globally

Published in CHINA
Tuesday, 15 March 2022 17:32

China vowed steady economic growth for this year in its government work report at the annual "two sessions." The country's efforts in economic remodeling and opening-up have been applauded globally.

 

Produced by Xinhua Global Service

GLOBALink | China's efforts in economic remodeling, opening-up applauded globally

Published in CHINA
Saturday, 12 March 2022 16:32

China vowed steady economic growth for this year in its government work report at the annual "two sessions." The country's efforts in economic remodeling and opening-up have been applauded globally.

Produced by Xinhua Global Service

THE IMPORTANCE OF THE DEVELOPMENT OF ECONOMIC PARTNERSHIP IN THE ECO SPACE AND BEYOND IS HIGHLIGHTED

Published in World
Monday, 29 November 2021 18:35

At the 15th Summit of the Economic Cooperation Organization, held on November 28, 2021, the Heads of State and Government of the participating countries reflected their vision of the ECO's work and highlighted the unique geo-economic role of the ECO, which has a positive effect on regional cooperation.

In his speech, President of Turkmenistan Gurbanguly Berdimuhamedov highlighted the essence of interaction between the ECO Member States, united geographically, historically, as well as traditional customs and values. “Our peoples here have centuries-old traditions, valuable experience has been accumulated, which requires its revival, use and enrichment, taking into account modern realities,” President Gurbanguly Berdimuhamedov noted.

He made a special emphasis on the further intensification of trade and economic relations between the countries of this format, which is aimed at increasing the volume and diversification of trade. “In this regard, I consider it expedient to think about creating, on the principles of public-private partnership, specialized ECO business platforms, each of which, in its own direction, could purposefully work in the interests of developing and expanding trade relations between our countries,” the Head of Turkmenistan emphasized.

The idea of creating effective mechanisms to ensure stable and dynamic growth of trade and investment partnerships has been put forward. In this regard, the expediency of establishing various forms of cooperation in such segments as the production of industrial goods, agriculture, and the service sector was emphasized. In this context, the Head of state highlighted the importance of economic interaction with the use of high, primarily digital technologies, and the widespread use of electronic trading platforms.

Stating the importance of enhancing cooperation in medicine and health care, the President of Turkmenistan noted the advisability of establishing, within the framework of the ECO, systemic channels for the exchange of experience, methods and best practices in the field of combating dangerous infectious diseases. “Economic cooperation in the ECO space should be accompanied by the expansion of interaction in the cultural and humanitarian sphere,” said President Gurbanguly Berdimuhamedov.

Economic Watch: Vibrant holiday spending spurs hope for solid, even recovery in China

Published in CHINA
Tuesday, 15 June 2021 16:37

BEIJING, June 15 (Xinhua) -- China's three-day Dragon Boat Festival holiday saw booming travel and spending activity as businesses and authorities rushed to fire up the market with innovative stimulus, spurring hope for a more solid and balanced economic recovery.

China saw more than 89 million domestic tourist trips during the holiday from June 12 to 14, up 94.1 percent from last year, according to data from the Ministry of Culture and Tourism.

Tourism revenue reached 29.43 billion yuan (about 4.6 billion U.S. dollars), surging 139.7 percent from last year when the sector fell to the blows of the COVID-19 outbreak.

While the data was still below pre-epidemic levels, analysts predict recovery in the consumption market to pick up pace on a wave of spending-stimulating activities, such as tailored services to meet upgrading demand and the rollout of digital RMB red envelopes.

Data by online travel booking agency Ctrip showed total orders on its platform increased 83 percent from last year as tickets and car rental businesses exceeded the level in 2019.

"Young people have gradually become the main force driving holiday consumption, which will accelerate the expansion of new forms of tourism models from the demand side," said Xie Xiaoqing, a senior researcher at Ctrip Research Institute.

In the latest public trial run of China's digital legal tender, the Chinese capital Beijing, with a population of around 22 million, handed out 40 million yuan in digital currency to consumers in a total of 200,000 digital red envelopes, each containing 200 yuan.

The draw results were announced on June 11, the eve of the Dragon Boat Festival holiday, as a travel and spending boom was expected.

The diverse efforts to stimulate domestic demand came as recovery of the consumption sector, among the hardest hit by the COVID-19 epidemic, had lagged behind the more resilient industrial sector, prompting authorities to put more focus on deepening structural reform for balanced recovery in the long term.

China's economy grew 18.3 percent year on year in the first quarter of 2021, as strong domestic and foreign demand powered recovery from a low base in early 2020 when COVID-19 stalled the world's second-largest economy.

Though China's economy has got off to a good start this year, the central leadership stressed that the country's first-quarter data should be viewed dialectically as the recovery is still unbalanced and the foundation not solid.

To harness consumption potential, authorities are setting their sights on the less developed rural areas. Last week, 17 government agencies including the Ministry of Commerce released a plan to promote rural consumption, giving details of how logistics and infrastructure services will be improved in the rural regions.

During the Dragon Boat Festival, more than 380 million parcels had been handled in rural areas, surging 30 percent from the holiday period last year, data by the State Post Bureau showed.

Against the backdrop of regular epidemic prevention and control, the gradual improvement of county commercial and logistics distribution systems, as well as optimized supplies, will help better meet the needs of consumption upgrades and fully release consumption potential, noted Wang Yan, an analyst with the research institute under the Ministry of Commerce. 

Source: http://www.xinhuanet.com/english/2021-06/15/c_1310009358.htm

President of Turkmenistan addresses participants of the Exhibition of Economic Achievements and Conference on Digital Economy

Published in Economics
Tuesday, 22 September 2020 16:47

“I congratulate you opening of the Exhibition of Economic Achievements of Turkmenistan and the scientific-practical conference “Digital Economy - the Most Important Factor of Economic Development”! I sincerely wish great success to the forum dedicated to the 29th anniversary of independence of Turkmenistan!”- says President Gurbanguly Berdimuhamedov, addressing the participants of the exhibition and conference.

According to the President Gurbanguly Berdimuhamedov, today neutral Turkmenistan occupies a leading position among the dynamically developing countries of the world, is known as the state that relies on high technologies, successfully implementing large-scale programmes. Initiatives aimed at ensuring well-being of the peoples in the region and the planet are widely supported by the international community that also contributes to the steady growth of the international authority of the country.

“In a short historical period, Turkmenistan has carried out fundamental reforms and has achieved high results in all areas of the state's life.

“We will continue implementing economic reforms, ensuring dynamic development of the country. We will strive for the main goal – to bring Turkmenistan up to the level of a number of highly developed states of the world.

“Based on the principles of peacefulness and progressive development, the domestic and foreign policy of the country, large-scale activities in the interests of the state and society, as well as the peoples of other countries, the fundamental transformations carried out in the country serve a great goal - to ensure the comprehensive harmonious development of the independent state, to improve the living standards of the Turkmen people”, says the President of Turkmenistan in his address.

In conclusion, President Gurbanguly Berdimuhamedov expressed confidence that the exhibition and conference would provide a platform for presenting Turkmenistan’s achievements in the economic and social sphere and wished their participants good health and great success in work.

You can too! How the EU supports women entrepreneurs in Georgia

Published in Society
Friday, 06 March 2020 18:06

You can too! How the EU supports women entrepreneurs in Georgia?

 

  1. 1.       I want to start my own business, but I’m not sure my idea would work. Who can advise me?

The European Union is very active in supporting the development of new businesses, particularly among women and particularly in the regions of Georgia, often with a focus on rural and disadvantaged areas. So don’t think that you need to be in Tbilisi, to have a higher education or an established business in order to access EU support – on the contrary!

The EU supports a number of programmes and business support facilities that provide know how, practical help, and even funding to help you start your business.

Here are some examples:

If you are looking for support in agriculture, the ENPARD programme provides information, training, advice and financial support all over Georgia, with hundreds of thousands of farmers benefitting since 2013. Visit the programme’s interactive map to find regional initiatives, contacts, information centres and cooperatives near you.

The Mayors for Economic Growth programme supports local authorities in developing economic growth and job creation. Among the dozens of local authorities that have signed up in Georgia, three – Bolnisi, Gori and Tbilisi – are running pioneer projects including support for new entrepreneurs with training and business development facilities, ensuring the equal access of women to development opportunities.

 

  1. 2.       Business advice is all very well, but you need money to develop your business. How can I get funding when I have no money of my own and no business experience?

A number of grants for agricultural projects are available under the ENPARD programme. Follow the calls section on their website to see the list of grant competitions that are available.

While the local development projects funded under the Mayors for Economic Growth initiative do not provide grants, they will help you to access finance. For example, the SPARK business accelerator set up under the project in Tbilisi offers new businesses assistance in preparing a business plan, and puts you in contact with potential investors and sources of finance. 

One EU-funded programme offers loans that are specifically tailored to women: Women in Business can provide finance both to start and develop a business. The programme works with local partners Bank of Georgia and TBC Bank and offers preferential terms for women entrepreneurs to finance new business ideas or expand an existing business. Several other projects under the EU4Business initiative also work with local banks to provide loans for SMEs – from micro-finance to major investment loans.

 

  1. 3.       I already have a business, but I need help to take it to the next step: is there any EU support available for me?

If you already have a business and you are looking to develop, funding (and training) is available through a number of programmes under the EU4Business initiative, which supports private sector development across Georgia.

Apart from providing loans, Women in Business offers training and subsidised advisory services that are specifically tailored to women-led businesses. The programme also offers a personalised online tool – the Business Lens – to assess your business and see what kind of support you can access.

Some EU4Business programmes also offer finance for much larger businesses, but others such as the DCTA Initiative East offer microfinance loans up to €25,000. The European Fund for South East Europe (EFSE) also provides small loans (average loan size €14,300) to the smallest businesses (less than 10 employees) in sectors such as agriculture, industry, trade and services. Click here for the full list of finance programmes under EU4Business, here for projects offering training and business advice, and here for projects supporting access to markets.

Georgian entrepreneurs also have access to the Enterprise Europe Network, which helps Georgian SMEs find business and technology partners across Europe and beyond.

 

  1. 4.       I’m not sure I want to start a business, but I want to learn new skills: is there something for me from the EU?

Training and skills are a key priority of EU support in Georgia, and the EU provides considerable funding for Vocational Education and Training (VET). The EU recently launched a 150 million GEL programme supporting vocational education and labour market development. The 5-year programme will help 105,000 Georgians find jobs by expanding high quality vocation education, improving labour policies, and supporting entrepreneurship training.

In terms of direct support, the individual EU4Youth programmes – Say YES: Skills for Jobs, Enhancing Youth Education, Employment and Participation in Conflict-affected Areas in Georgia and Ukraine, Fostering Potential for Greater Employability, and Better Skills for Better Future – have a strong focus on skills for under-35s, especially in less advantaged regions of Georgia, providing training, mentoring and internships to help young people find jobs.

For young women under the age of 30, the EU offers exciting opportunities under its Erasmus + youth programmes. You can join the almost 10,000 young Georgians who have already learned new skills and developed valuable experience by participating in youth projects or volunteering for work abroad under the European Solidarity Corps.

And if you are in higher education, Erasmus + offers student exchanges and post-graduate programmes in Europe. Find out more about all the opportunities and how to apply.

 

  1. 5.       Are there women like me, who started their own business with EU help?

There are lots!

Nata, Manana, Irina and Dali all received grants under the ENPARD programme. Natalia and Irina come from Tbilisi, Manana from Tsalka, and Dali from Upper Alvani. Natalia grows cucumbers, Irina tomatos, Manana runs a tea processing enterprise, and Dali combines honey production with educational courses. They have all developed their business with the help of EU training and grants.

Irina Gloveliand Tekla Mamageishvili both received advisory support as part of the Women in Business programme. For Tekla, the project helped to plan the activities of her eye clinic more strategically and attract financial resources, while Irina received help to put her engineering company’s financial reporting in order, leading to a 7.5% rise in profits.

Manana Chqareuliworked from home as a seamstress. With the help of loans under the EFSE programme, she was able to upgrade her equipment, lease a proper workspace and hire staff to develop her business. Now her company is on its way to becoming a brand in its own right.

Diana Bakradze and Anna Varamashvili benefitted from skills training and internships under a project for ‘Support of vulnerable youth to become productive citizens through learning, training and employment’, an important step to an independent professional life.

Click here for more success stories from ENPARD, here to find out what the city of Bolnisi is doing under the Mayors for Economic Growth project, and here to learn about five Georgian women who have benefited from EU support across a range of areas.

 

  1. 6.       Whom can I ask for help?

Visit the ENPARD website to find contact information in all the different regions of Georgia, and check the programme’s interactive map to find regional initiatives, contacts, information centres and cooperatives near you.

Look at the Mayors for Economic Growth website to see if your town is among the signatories and what it is doing to support jobs and businesses near you.

If you already have a business and are looking to develop it, check out the training and funding opportunities available under EU4Business in Georgia.

For education and youth opportunities, contact the national Erasmus + office in Georgia.

And don’t forget to follow the EU Delegation to Georgia on Facebook for updates and new opportunities.

 

Representatives of Littoral Nations’ Economic Agencies Discuss Aspects of Cooperation

Published in Economics
Thursday, 15 August 2019 14:14

As part of the First Caspian Economic Forum, Avaza has hosted a meeting of representatives of sectoral agencies of the Republic of Azerbaijan, the Islamic Republic of Iran, the Republic of Kazakhstan, the Russian Federation, and Turkmenistan - the parties to the Agreement between the Governments of the littoral Caspian nations on trade-economic cooperation, signed at the Fifth Caspian Summit in Aktau in 2018.

As noted, given the existing global geopolitical context, a mechanism for regional cooperation is attaining greater importance and topicality not only as an instrument for deepening economic interaction, but also as a key factor in ensuring sustainable development.

The heads of the visiting foreign delegations highlighted that the constructive cooperation among the coastal nations aims at combining efforts in order to accomplish the objectives. In the present era, the Caspian Sea has an increasingly important role to play in the global geopolitical and geo-economic landscape. Expanding steadily the full regional cooperation is entirely consistent with the five coastal countries’ policies.

The countries have adopted a ‘stability through common development’ approach as an optimal form of partnership that reflects economic needs of each Caspian Sea nation. In this context, it was noted that the forum is well timed taking place at exactly the right moment.

The participants shared an opinion that coordinated efforts are today taking on particular significance for macroregional cooperation. Special emphasis was placed on the importance of the Convention on the Legal Status of the Caspian Sea, signed at the Fifth Caspian Summit in August 2018. The real value of this international treaty, which has become a strategically vital step in promoting economic development in the Caspian Sea, lies in the fact that it provides the legal groundwork for enhancing cooperation in different areas.

Speakers at the meeting highlighted that dealing with the pressing issues on the agenda would help to identify areas of common interest to further strengthen the mutually profitable relations. On the whole, further partnership between the region’s countries offers real prospects for maintaining rapid sustainable development and their integration into the world economy.

Amid growing competition in the foreign and domestic markets, the littoral countries’ considerable industrial and investment potential should be used to cement cooperation in tackling burning issues. Exchanging their views on the possibilities of boosting the constructive contacts, the heads of the delegations expressed satisfaction with the states’ mutual desire to step up economic relations, and create effective mechanisms for cooperation to make the Caspian Sea region an area of integrated partnership on an equitable and long-term basis with an investment-friendly climate. In this context, the parties spoke for implementing interstate programs and projects.

Those speaking from the Turkmen side stressed that the development of international ties in investment activities contributes to fulfilling our country’s versatile potential. Willingness of foreign investors to invest heavily in the national economy, which boasts good performance indicators, testifies to great trust placed in our country as a reliable, responsible and reputable partner that has enormous potential. In this regard, the sides discussed potentialities of creating joint enterprises.

In the course of the meeting, special attention was given to sharing knowledge and expertise on establishing and developing special free economic zones that have become an integral part of world economic relations today. The speakers emphasized that creation of free economic zones will boost competitiveness of the national economies, enhance export possibilities of the littoral states, and, eventually, bring prosperity and well-being to the nations.

The digital economy was named as a key area of cooperation. The sector is identified as a top priority and main focus of the coastal countries’ state policies. As noted, in this day and age, it is impossible to imagine living without information technologies that have changed, facilitated and improved activities in different spheres, having opened up new market possibilities.

Digital infrastructure and advances in computer technologies create huge potential in the field of information systems, accelerating their widespread adoption in economic life, and forming the bedrock of the digital economy. In this respect, the meeting attendees considered implementing joint action plans in the sector. This will encourage the countries’ business and investment activities, helping to build up productive relationships.

The parties also recognized the advisability of sharing legislative acts, national standards, regulations and statistical data on trade-economic issues, having proposed to work out new agreements. The meeting also addressed the need to simplify visa procedures as this would bring benefits and stimulate the region’s economic development in the long run.

The state news agency of Turkmenistan

Embassy of Turkmenistan in Georgia held a Round Table dedicated to the First Caspian Economic Forum

Published in Economics
Friday, 31 May 2019 15:05

On May 30, 2019, in Grigol Robakidze University the Embassy of Turkmenistan in Georgia held the Conference dedicated to the First Caspian Economic Forum,which will be held on August 12, 2019, in the National Tourist Zone “Avaza”, Turkmenbashi.

The round table was attended by faculty and students of universities of Georgia, media outlet representatives.

At the beginning of the round table, the video on the First Caspian Economic Forum’s significance and prospects was shown.

Speakers noted that the initiative to hold the First Caspian Economic Forum was proposed by President of Turkmenistan Gurbanguly Berdimuhamedov at the V Summit of the Heads of Caspian States. It was also underlined that one of the greatest challenges of this Forum is to use of the Caspian Sea unifying factor for consolidation of efforts aimed atexpanding mutually beneficial trade and economic cooperation; the devising incentive mechanisms for national resources management, implementation of joint investment projects and programmers, sharing experiences on the economic cooperation issues, creation of joint ventures and active dialogue of business societies.

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