Binance Announces Opening of Regional Hub in Georgia

Currently, more than 25 people work in the country, and within the framework of the hub it is planned to open dozens more jobs by the end of 2023. Also, in addition to developing in the field of recruiting, Binance has a number of initiatives aimed at strengthening education, greater penetration and acceptance in the field of cryptocurrencies. In 2023, Binance announced a partnership with the CityPay cryptocurrency payment gateway, a collaboration with the Georgian Innovation and Technology Agency (GITA), and the launch of a Binance Charity initiative to support women-centric education in Web3 and the BNB Chain hackathon. In particular, the partnership with GITA will support Binance's large-scale educational and community initiatives in the field of blockchain and the development of the Web3 industry in Georgia.The partnership with GITA is not Binance's first educational initiative in Georgia. In January 2023, Binance announced the signing of a memorandum of cooperation with the Georgian Business and Technology University (BTU). And in March, agreements were signed with four more educational institutions - Alte University, Kutaisi International University, Georgian American University (GAU) and Caucasus University. Under the agreements, Binance and Binance Academy will provide materials and support to help university students further educate blockchain, Web3, NFT, and cryptocurrencies.Also last week, BNB Chain, the world's largest blockchain in terms of daily active users, partnered with GITA to host a three-day Web3 hackathon in Georgia. The purpose of the event was to attract developers and provide them with the opportunity to interact with the BNB network developer community and test their Web3 skills in practice. The winners received prizes of $2,500 for first place, $1,500 for second place, and $1,000 for third place, as well as BNB Chain souvenirs and permanent access to the BNB Chain developer programs.“Georgia is one of the most innovative countries in the region and for Binance, the country is an important point on our map. To date, we have held three community meetups in the country, which were attended by more than 2,000 people in total. We see a huge potential and interest, both from the cryptocommunity and businesses, in the development of cryptocurrencies in the country,” said Vladimir Smerkis, regional director of Binance.In 2022, the first visit to Georgia of CEO Changpeng Zhao (CZ) took place. As part of the visit, he met with Prime Minister Irakli Garibashvili, business representatives and the cryptocurrency community.The parties discussed favorable conditions for doing business in Georgia and the opportunities that the country offers to investors. The discussion was also attended by Levan Davitashvili, Deputy Prime Minister, Minister of Economy and Sustainable Development of Georgia, Lasha Khutsishvili, Minister of Finance of Georgia, and Papuna Lezhava, Deputy Governor of the National Bank of Georgia (NBG).“The opening of the hub in the country is a logical continuation of the dialogue that we started with the government of the country last year. As part of the hub, we will strengthen the development of the recruiting program in the country, as well as make an even greater focus on the regional presence of Binance,” said Georgia General Manager Giorgi Chagelishvili.


The state will pay 53 million for the renovation of the school buildin...

The tender refers to the complete construction-repair and engineering works of the building of the Eastern Partnership European School within the framework of the 2023-2024-2025 state budget financing by the "Educational and Scientific Infrastructure Development Agency".Within the framework of the tender, the following works should be performed: plastering, installation of doors and windows and their related components, installation of other metal constructions, installation of non-metal constructions, laying, painting and gluing of floor and wall coverings.The project is bilingual, therefore it is mandatory to produce all kinds of documentation in both languages - Georgian and English.The supplier is obliged to ensure the completion of the works within 420 calendar days (14 months) after signing the contract. The warranty period for the completed works is two years from the signing of the final act of acceptance.According to the tender requirements, the candidate must have experience of similar type of work worth at least 110 million GEL.Acceptance of proposals in the tender started on March 22 and will continue until April 19.


New passenger registration system was introduced at Tbilisi Airport

According to TAV Georgia, the operator of Tbilisi International Airport, the modern system approved by IATA is a combination of various services, which ensures the improvement of the quality of service for both passengers and airlines.Each airline uses an individual passenger check-in/boarding system (DCS), and as a result of the introduction of CUPPS, it will be possible for different airlines to use the same equipment and space both at check-in counters and at gates.The CUPPS platform was introduced at Tbilisi International Airport in 2021 and has been updated several times. The latest, modern version of the system is already in operation at Tbilisi International Airport.


IT companies with virtual zone status require fair treatment by the st...

Thanks to tax incentives in this area, it can be said that hundreds of Georgian IT specialists without leaving the country receive the same remuneration as their colleagues in developed Western countries.However, in recent years, the industry has faced some problems due to the ambiguous nature of the tax legislation text, which became the basis for interpretation of the norms by tax authorities. This circumstance has significantly reduced the motivation of these companies. However, the Association of Georgian Virtual Zone Persons has actively engaged in interaction with the government, to address the latter issues.The Association notes that some changes have already been made in this direction, and there is hope for positive action from the Ministry of Finance. In particular, members of the Association are working on bringing together the positions of business and the state, promoting the attractiveness of the industry, improving legislation, and other important issues."The virtual zone is one of the important engines of economic growth in Georgia, providing a stable and smooth operation of the information technology industry. This sector plays an important role in the development of the labor market by providing highly skilled jobs. Due to its flexibility and ability to quickly adapt to changing market requirements, the virtual zone helps to attract foreign investment and increase economic opportunities in Georgia," notes the Association of Georgia's Virtual Zone Residents.For information, according to the Revenue Service of the Ministry of Finance of Georgia, only in 2021 companies with virtual zone status contributed more than 66 million Georgian lari to the Georgian budget in the form of taxes.Table 1. Information about the taxes paid by the taxpayers with the status of a virtual zone for the period from 01.01.2021 to 31.12.2021.


The state will pay 4 million for printing school notebooks

The tender involves the purchase of 1.6 million units of graded school notebooks (the average price of one notebook is 3.4 GEL). Design and essential requirements.Delivery of notebooks to educational resource centers and public schools of Tbilisi should be carried out gradually, no later than August 1, 2023 after the signing of the contract. Manuals, which are not delivered to schools and resource centers, should be delivered to Lilo, Yumashevi Street N4, Tbilisi.According to the requirements of the tender, the candidate should have the experience of supplying polygraphic products worth 1 million GEL in the last 3 years."Color Press" was registered in 2016. According to the tenders monitor, the company has won 48 tenders with an estimated value of 860 thousand GEL.100% share of the company belongs to "Publishing Color" LLC, whose ownership structure is as follows:"Print House Investment" LLC - 50%; Tamar Gagnidze - 12%; "Palitra Holding" LLC - 38%.


Basisbank Invests in Cozy Loft Hotel in Batumi

The total cost of the project is GEL 2 million, of which GEL 1.5 million was provided by Basisbank. The 25-room hotel has a restaurant, a wine cellar, a lounge bar with terraces and a conference hall. The hotel invites local and international guests to relax in a comfortable and cozy environment. The infrastructure is adapted for people with disabilities. The hotel opens beautiful views of the city and the sea."Our hotel has a perfect location for tourists. Let me convey my gratitude for Basisbank and its team for their support and contribution to the successful completion of the project. I would like to see many more similar projects implemented in our region, to help boost the development of tourism," said Edisher Kakabadze, the owner of the hotel."Basisbank, as one of the principal supporters of business in Georgia, makes a significant contribution to the development of the hotel industry. With the bank's financial involvement, Batumi will have another hotel. Supporting these projects is one of the priorities for the Bank, as it promotes the development of tourism and strengthens the construction sector, and these are among the main prerequisites for the development of the country's economy. We are proud to be part of this successful project," said Giorgi Gabunia, Commercial Director of Basisbank.


Basisbank Summarizes The Financial Results For 2022

The total credit portfolio of Basisbank increased by 68% and exceeded GEL 2.1 billion, and the increase in deposits, compared to the same period of the previous year, totaled to GEL 1.1 billion.Over the past year, the bank significantly increased the pace of business financing, and the credit portfolio of legal entities exceeded GEL 1.21 billion. The growth of the portfolio amounted to GEL 324 million, which was 37% higher than the same indicator of the previous year. As a result, in terms of the volume of the credit portfolio of legal entities, Basisbank is among the three largest banks.In 2022, retail loans increased 3 times to GEL 760 million, and retail deposits doubled to GEL 911 million.By the end of the year, Return On Assets (ROA) was 2.59%, and Return On Equity (ROE) was 18.19%.As of December 31, 2022, the bank's supervisory capital amounts to GEL 467 million."Our goal is to create the best banking experience for our customers and simplify the relationship with the bank as much as possible. Accordingly, we offer banking products and services that save them time and make it convenient to receive financial services. During 2022, our team took important steps and showed exceptional results in the direction of the implementation of the strategic priorities of Basisbank. As a result, the main financial indicators of the bank increased dynamically. The ambitious plans we set and the best service offered to the customers assure us that we will achieve special results this year as well" - stated the general director of Basisbank, Davit Tsaava.


LLC Parma wins the 1.5-million tender of the City Hall

The acceptance of bids in the tender ended on March 14, and the status is currently in the selection/evaluation stage. LLC Parma is the only tender participant.According to the tender requirements, if necessary, the candidate is obliged to carry out the works within 24 hours. Also, the supplier is obliged to work at 5 locations at the same time if necessary.The supplier is obliged to fill the voids of the cut control hubs with cold or hot a/concrete mixture at the construction site.The supplier is obliged to take the waste generated during the execution of the work to the following address: Gldani district, 15th km of the Tbilisi bypass road.According to the requirements of the tender, the candidate must have completed similar work of at least 150% of the value of the tender in the last 3 years.LLC Parma was registered in 2003. According to the tenders monitor, the company has won 64 tenders, the estimated total value of which exceeds 40 million GEL. The owner of 100% of the company's shares is Marine Dundua.


The state announces a USD 7 million tender for school books

The tender involves the printing of 1.7 million units of school books (the average price per book is 7 GEL). The books will be printed as school textbooks for grades 1 to 12, as well as extracurricular literature.Acceptance of proposals in the tender starts on March 16 and continues until March 17 at 12:30.According to the tender documents, school books should be branded and should include on-site delivery (handbook design and printing options).The bidder participating in the tender should have the experience of supplying polygraphic products worth 2 million GEL in the last 2 years.Manuals must be delivered in proper packaging. Textbooks should be packed in polyethylene packing material (strange-tape), the thickness of which should not be less than 23 microns and/or in hard, cardboard paper (which should not be easily damaged).


New options have been added to the Business Internet Banking of the Ba...

Financial limit utilization means that from now on, businesses within the financial group can view and borrow pre-approved financial limits online from the Business Internet Banking. If the customer wants to increase the existing limit, he has the option to request an increased loan limit online.Another new functionality is money request, which allows businesses to simplify money transfer procedures with other businesses as much as possible. Specifically, to request the amount to be deposited from the user, to see what part of the amount is deposited or to be deposited.Another new functionality of Business Internet Bank is template reminder. Businesses often have fixed costs that they have to transfer on a regular basis. In order for the business not to have to re-fill the recipient's information every time, the Business Internet Bank has the option of creating a template. It is to these templates module that a reminder functionality has been added, which can be set both when creating an existing template and when creating a new one, depending on the date and frequency.