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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.


Basisbank Is The 3rd With Lending

According to Gabunia, the bank firmly stands in the 3rd position with business lending, financing of small and medium-sized companies, as well as the corporate and retail market.2023 is the anniversary for Basisbank, the bank is celebrating its 30th anniversary. However, 29 was more solemn than the round date, and the turning point was 2022 - the year of enlargement. Chinese Hualing group bank expanded its portfolio with an asset purchased from VTB (the bank, with Russian capital, was bankrupted after the Russian invasion of Ukraine and had to give up the asset).Basisbank ended January-February with a profit of up to 7.2 million GEL and is 6th among profitable banks (12), with a share of 1.9% (03.01.2022 – 2.48%).Basis Bank  ( GEL, %)


70% of Georgian wine is still exported to Russia

The export value of Georgian wine has not changed compared to the previous year. Both last year and this year, the average price of 1 liter of Georgian export wine is 2.94 USD.The wine import partners are as follows:1) Russia - $23.9 million for 5.6 million liters (69% of wine exports)2) Ukraine - $1.8 million for 624 thousand liters (5.2% of wine exports)3) Poland - $1.7 million for 685.2 thousand liters (4.9% of wine exports).


What Did Georgia Buy /Sell in 2M?

Out which, exports amounted to $0.9 billion (+20.3% y,y), and imports amounted to $2 billion (+9% y.y).TOP-5 Exported/Imported products:Export:1. Light vehicles - 13,501 units worth $236.8 million;2. Copper ores and concentrates - 76.6 thousand tons for $143.4 million;3. Ferroalloys - 57.4 thousand tons for $71.7 million;4. Wine - $34.5 million for 11.7 million liters;5. Spirit drinks - $24.2 million for 6.8 thousand tons;The sum of these five products is 56% of the total export.Imports:1. Light vehicles - 12,866 units for $207.8 million;2. Petroleum gases - $175.5 million for 750.3 thousand tons;3. Oil and oil products - $158.4 million for 196.5 thousand tons;4. Copper ores and concentrates - $108.1 million for 59.1 thousand tons;5. Medicines - $71.3 million for 1.9 thousand tons.The sum of these five products is 25% of total imports.


Sanctioned VTB Bank Still Gain Profits

Credo Bank moved among the profitable banks with 4.7%-share, which net profit exceeds 18 million GEL (operational: 9,2 million GEL).Sanctioned VTB Bank returned to the list of profitable banks, but the Russian bank has an operational loss of 1,9 million GEL.Banks’ Rating By Net Profit