ICC Georgia launches initiatives to develop digital trade, access to finance and empower women entrepreneurs – FINCHANNEL

The International Chamber of Commerce Georgia is currently working on several important initiatives to promote the Georgian business environment.

These initiatives include expanding digital commerce by offering more workshops on e-commerce, digital marketing and cybersecurity to help businesses successfully transition to a digital world.

Another initiative is to increase access to financing for small and medium-sized enterprises. There will also be industry training, mentoring programs and webinars to exchange and deepen knowledge.

ICC Georgia seeks to empower women entrepreneurs by working with international partners to provide targeted training, networking opportunities and access to financing.

Additionally, the organization will raise awareness of international sanctions to help businesses navigate the complexities of global trade.

In addition, ICC Georgia plans to organize more regional arbitration conferences, so that Georgia can become a dispute resolution center in the future.

Khatia Bukhrashvili, Secretary General of the International Chamber of Commerce of Georgia, is one of the driving forces behind the organization’s efforts to promote the Georgian business environment.

P. ICC is supporting the Golden Brand event once again this year. Can you tell us why you think it’s important for business to support these types of events?

A. I am pleased to announce that since the inception of the Gold Brand Awards, ICC Georgia has continued to support this unique event that celebrates the achievements, excellence and ingenuity of the business community.

I think that supporting such prestigious events as the Golden Mark can bring tangible benefits to companies. This is demonstrated by the ICC’s continued commitment. Such support can increase brand visibility, establish companies as industry leaders, create numerous networking opportunities and strengthen their position in the market. This helps raise industry standards, promote innovation and quality, and contribute to community and economic development. Moreover, these events can boost employee morale, attract talent, increase customer trust and loyalty, and improve a company’s credibility. I believe that this multi-year event, with so many success stories, plays a key role in building and developing business reputation, expanding networks, engaging communities and striving for excellence. Ultimately, this contributes to business sustainability and industry leadership.

Q. Do you agree with the results of the favorite brands survey?

A. As a professional, I believe in the experience and reputation of the assessors responsible for selecting the Gold Brand Award winners. Their rigorous evaluation process and criteria demonstrate that the companies selected each year truly strive for excellence in their fields. While individual opinions may vary, consistent recognition of these companies highlights their unwavering commitment to quality, innovation and customer satisfaction, which is admirable and worthy of respect.

Q. Overall, what type of support does the business sector in Georgia most need today?

A. The changing business landscape in Georgia requires a comprehensive approach to provide support. I would like to highlight some key areas such as access to capital, regulatory and tax reforms to simplify administrative procedures and skills development to keep pace with technological progress.

Moreover, I believe it is crucial to support enterprises in digital transformation, expanding access to global markets and investing in infrastructure. Additionally, promoting entrepreneurship through a supportive ecosystem and fostering meaningful dialogue between business and government can further strengthen the sector. Together, these strategic measures contribute to economic growth and sustainable development, which in turn have a significant impact on Georgia’s economic progress.

Q. Please list the three main obstacles facing the business sector in Georgia and three favorable circumstances for doing business in Georgia.

A. Emerging markets like Georgia present unique challenges for businesses, including regulatory hurdles, lack of access to financing and skills gaps. Addressing these challenges is crucial to creating a more enabling business environment in Georgia, focused on growth, innovation and global competitiveness.

Referring to the second part of this question, it is obvious that Georgia’s status as a candidate for European Union membership, its strategic location and improved relations with the Arab world create unique opportunities for doing business in this country. But what makes these aspects so beneficial?

Firstly, EU candidate status is a significant step for Georgia towards integration with EU standards and market systems. This instills investor confidence that Georgia is committed to economic reforms, good governance and adherence to international business standards. Additionally, Georgia’s progress towards EU accession may attract foreign direct investment as potential investors view its EU candidate status as a sign of stability and a better business environment in the country. This makes Georgia more attractive for foreign direct investment, especially in sectors consistent with EU interests and standards.

Georgia’s strategic location provides logistical and trade advantages, serving as a bridge between European markets and those in Asia and the Middle East.

In recent years, relations between Georgia and Arab countries have improved, leading to more diverse trade and investment opportunities. This has led to the development of bilateral trade agreements, joint ventures and investments from Arab countries in various sectors of the Georgian economy, such as tourism, agriculture and real estate. For a country like Georgia that relies heavily on energy imports, stronger ties with energy-rich Arab countries could offer opportunities for energy partnerships.

Q. Let’s continue our interview by talking about ICC Georgia. What are the latest changes in the organization?

A. The International Chamber of Commerce of Georgia plays a key role in improving the country’s business environment. We are actively involved in various initiatives aimed at creating a favorable atmosphere for trade and crafts. Our dynamic e-commerce programs help businesses navigate the digital marketplace, ensuring they maximize their future potential. We are acutely aware of the critical importance of access to finance and work tirelessly to help improve businesses’ ability to access finance.

I would like to draw attention to a significant initiative that we have been working on for several years in cooperation with the Asian Development Bank. The program is designed to support women entrepreneurs because we strongly believe that empowering women in business is critical to diversity and economic strength.

ICC Georgia plays a key role in building awareness of international sanctions among professionals. We organize several conferences throughout the year to share the latest trends and news with companies. Our goal is to help businesses navigate the complex international trade landscape. I believe our efforts are valuable to both business owners and professionals.

ICC Georgia is hosting a regional arbitration conference in June to demonstrate its commitment to commercial dispute resolution. This event is expected to attract great interest from professionals from across the region, as well as representatives of the ICC Court of Arbitration. Such initiatives by ICC Georgia will not only contribute to creating a better business environment, but will also consolidate Georgia’s position as a significant player in the regional and global economy. The conference may help Georgia become an arbitration center in the future.

Q. How many members do you have as of today?

A. ICC Georgia is a community of over 200 members and partners, including chambers of commerce across a variety of industries and sectors. The community also offers youth memberships, reflecting its commitment to supporting the next generation of business leaders and entrepreneurs. ICC Georgia is committed to protecting the interests of businesses, thereby contributing to the growth and inclusion of the Georgian business community.