Business development opportunities in Georgia

Document Sample
Business development opportunities in Georgia Powered By Docstoc
					     Golden Fleece Capital
     For Business Development in Georgia




Business development opportunities in Georgia
Kiev, March 29, 2012


                                      www.gf-capital.com I Kiev, March 29, 2012   1
Golden Fleece Capital
For Business Development in Georgia   Agenda

                                       Georgia – Untapping Great Development
       Agenda Economy
       Georgian
                                        Potential
       Growth Perspectives
                                       Georgian Economy at a glance
       Agriculture
                                       Economy competitiveness
       Energy
                                       Growth Perspectives in:
       Manufacturing
                                          Agriculture
       Transport & Logistics
                                          Energy
       Tourism
                                          Manufacturing
       Specific Opportunities
                                          Transport & Logistics
                                          Tourism,
                                       Specific Opportunities



                                                    www.gf-capital.com I Kiev, March 29, 2012   Page 2
Golden Fleece Capital
For Business Development in Georgia                                     Economy at a Glance

                                                                                                           2010                2011
                                                                  GDP                                      US$ 11.7 bln. 14.35 bln.
                          Other Agriculture                       GDP - Real Growth Rate 2010              +6.4%               +6.8%
                        Production 10%
                           5%                                     GDP - Per Capita (PPP), USD              5,035               5,430
           Education,
         Health & Social                          Manufacturing   Inflation rate (average annual)          7.1%                12.6%
              16%                                     10%
                                                                  Unemployment rate                        16.8%               16.7%
                                                Construction
         Public                                     6%            Total exports (Mil. USD)                 1,583               2,189
      Administration
          12%
                                                                  Total imports (Mil. USD)                 5,095               7,058
                                               Retail &
                                              Wholesale
                                                                  Trade surplus/deficit (Mil. USD)         -3,512.             -4,869
          Real Estate                           17%
             9%
                                                                  Public Debt                              39.1%               41.7%
                       Services   Transport                       Public Deficit                           -5.4%               -3.9%
                         7%          8%
                                                                                                           Standard & Poor's:
                                                                  Government bond ratings
                                                                                                           B+/Stable/B
                                                                                                           Moody's rating: Ba3




                                                                                   www.gf-capital.com I Kiev, March 29, 2012            Page 3
Golden Fleece Capital
For Business Development in Georgia         Competitiveness & Trade

    Georgia has significant negative trade balance with higher
     ranked trade partners




                     61        57     89   27      5        63         4       71        98        25
                                                Competitiveness Rank




                                                           www.gf-capital.com I Kiev, March 29, 2012    Page 4
Golden Fleece Capital
For Business Development in Georgia                         Competitiveness Index
                           2020 Target competitiveness rank countries and neighbours


        Countries        Competitiveness     Agriculture,   Manufacturing      Non-Manufacturing    Services, %   GDP per capita
                         Rank                % of GDP       Industry, % of     Industry, % of GDP   of GDP        (PPP), 2010
                                                            GDP

        Tunisia                 32                10              18                   15               58            9,600

        Estonia                 33                3               17                   12               68            20,600

        Czech Republic          36                3               25                   13               60            25,300

        Slovenia                45                2               23                   11               63            27,100

        Azerbaijan              57                6               4                    65               24            9,900

        Albania                 88                21              12                   8                59            8,800

        Ukraine                 89                8               23                   14               55            6,658

        Georgia                 93               10               12                   9                69            5,035

        Moldova                 94                11              14                   1                74            3,100

        Armenia                 98                18              15                   30               37            5,500


        Source: World Economic Forum, Globalcompetitiveness Report 2010-2011

                                                                             www.gf-capital.com I Kiev, March 29, 2012             Page 5
Golden Fleece Capital
For Business Development in Georgia          Georgian Economy 2020


                                         Agriculture, %   Manufacturin    Non-            Services, % of   GDP per
                                         of GDP           g Industry, %   Manufacturin    GDP              capita (PPP),
                                                          of GDP          g Industry, %                    2010
        Georgian Economy, 2010 - 2020                                     of GDP



        2010                                  10               12               9               69            5,100*

        2020                                  10               22              12               56            17,480*

        GDP 2020, at fixed prices, USD       4,141            9,110           4,969          23,190            9,220

        GDP 2010 at fixed Prices, USD        1,200            1,400           1,100           8,300            2,690

        Compaund Annual Growth Rate, %       13%              21%             16%             11%               13%




                                                                www.gf-capital.com I Kiev, March 29, 2012             Page 6
Golden Fleece Capital
For Business Development in Georgia           Agriculture
                                                  • Wide-range of climatic zones
                                                  • Rich and pesticide-free soils - Ideal place for production of organic
       ObjectivesEconomy
       Agenda
       Georgian
                                                    food
       GFC
       Growth Perspectives                        • Rich tradition of winery, growing citrus, grape, sunflower, tea, etc
       Agriculture
       Agriculture                                • Legal provisions to own (i.a. for foreigners) agricultural land
       Tourism
       Energy                                     • 0% VAT on primary production of agricultural products

       Manufacturing
       Real Estate                                • 0% export duty + 100% VAT refund

       Wood Processing
       Transport & Logistics                      • 0% of import duty on agricultural and other equipment
                                                  • 100% depreciation allowance on investment
       Tourism
       Manufacturing
                                                  • Low-cost and skilled human resource base
       Our Proposal
       Specific Opportunities
                                                  • Liberal labor regulations
                                                  • Strategic link from East to high value Western markets
                                                  • Well developed transport sector including railway and sea ports
                                                    essential for effective exports of agricultural goods
                                                  • Available 80,000 Ha agricultural land through privatization

       Source: Government of Georgia’s Sector Presentation
                                                                     www.gf-capital.com I Kiev, March 29, 2012        Page 7
Golden Fleece Capital                          Agriculture Export-Import, 2010
For Business Development in Georgia



          According to the 2010 data, the export and import of agro food products were US$314 million and US$939
           million.
          In 2010, main export commodities were: nuts, citruses, natural grape wines, spirits, soda, mineral & spring
           waters, sheep, cattle, etc.
                                                Export (US mln)         Import (US mln)
                                                     • Mostly seasonal disbalance
     1000                                            • Opportunity in import substitution
                                                     • Opportunity in storage investment
         900
                                                                                                  913
         800     Exports declined due to the
         700     embargo imposed by Russia on
                 Georgian exports in October 2006
                                                                           762                                         739
         600
         500
                                                    594
         400
                            434
         300
                 340                                                                                         286
         200                                                    274
                                          225                                               228
         100
          0
                      2005                    2006                   2007                     2008               2009

     Source: Government of Georgia’s Sector Presentation                   www.gf-capital.com I Kiev, March 29, 2012     Page 8
Golden Fleece Capital
For Business Development in Georgia           Major Export Products

             Export Items, in USD 000’s                                                                    2009       2010
             Other nuts, fresh or dried                                                                  69 955,8   64 035,9
             Undenatured ethyl alcohol, spirits, liqueurs and other spirituous beverages                 54 019,4   54 573,3
             Wine of fresh grapes                                                                        31 997,0   39 269,0
             Waters, natural or artificial mineral and aerated waters, not containing added sugar        24 674,7   30 155,1
             Live bovine animals                                                                         16 902,5   15 932,4
             Waters, mineral and aerated waters, containing added sugar                                  10 683,5   13 420,3
             Citrus fruit, fresh or dried                                                                15 702,7   12 142,9
             Other food preparations                                                                      7 996,0    8 112,5
             Live sheep and goats                                                                        17 054,0    7 842,9
             Wheat and meslin                                                                             3 248,3    7 256,9
             Fruit and vegetable juices                                                                   2 883,0    6 047,1
             Potatoes                                                                                       127,7    1 238,1
             Tea                                                                                          2 112,3    1 186,3

        Source: Government of Georgia’, Economic Sector Presentation

                                                                        www.gf-capital.com I Kiev, March 29, 2012     Page 9
Golden Fleece Capital
                                              4 Reasons for Underdeveloped
For Business Development in Georgia           Agricultural Sector

                                                          • New law adapted in 2005 on Privatization of State Agro Land
             Fragmented Agro Lands                        • On sale - 40 000 ha agro-land in sizable lots
                                                          • Land registry simplified, new cadastre introduced by NAPR




                                                          • Presidential Program – Machinery for Rural Economy
               Outdated Technology                        • Agro sector is still craving for new technology




                                                          • Concessional Credit Program for building storage
         Absence of Storage Facilities                      facilities in numerous regions




                                                          • Dependence on Russian market has been overcome
              Not Diversified Market                      • FTAs and GSP+ with important markets



        Source: Government of Georgia’, Economic Sector Presentation

                                                                        www.gf-capital.com I Kiev, March 29, 2012         Page 10
Golden Fleece Capital                                    Important Snap-Shots
For Business Development in Georgia


        Main challenges are monocultures and low production per ha.
        •      With technology and knowhow average harvest could be tripled
                              Agro product                    Average harvest per ha.                    Good precedents per ha.

                                Wheat                                  1.8 tn.                                      4 tn.
                                Tomato                                 10 tn.                                      65 tn.
                                Potato                                 10 tn.                                      45 tn.

        •      During the Soviet Era, Georgia used to be main supplier of the Union’s market
               with selected agro products, which pushed the country into monocultural agro
               production (ex. grape, citrus, tea etc)
                                                        Product                 1988 (thousand tons)*           2008 (thousand tons)
                                                       Vegetables                         685.5                              165.0
                                                      Fruit & berry                       653.0                              158.5
                                                          Grape                           619.7                              175.8
                                                          Citrus                          436.9                              55.2
                                                           Tea                            458.7                               5.4
            * Data for 1988 is exaggerated to some extent due to reporting interests in the centralised system of planning


        Source: Government of Georgia’, Economic Sector Presentation
                                                                                         www.gf-capital.com I Kiev, March 29, 2012     Page 11
Golden Fleece Capital                             Regional Energy Hub – Net Exporter
For Business Development in Georgia




        Source: Government of Georgia’, Economic Sector Presentation
                                                                       www.gf-capital.com I Kiev, March 29, 2012   Page 12
Golden Fleece Capital
For Business Development in Georgia   Electricity Balance




                                         www.gf-capital.com I Kiev, March 29, 2012   Page 13
Golden Fleece Capital
For Business Development in Georgia               Georgia’s Energy Dynamics




       Source: Government of Georgia’, Economic Sector Presentation

                                                                      www.gf-capital.com I Kiev, March 29, 2012   Page 14
Golden Fleece Capital
For Business Development in Georgia                      Transmission Capacity




        Source: Government of Georgia’, Economic Sector Presentation
                                                                       www.gf-capital.com I Kiev, March 29, 2012   Page 15
Golden Fleece Capital                          Large-Scale Hydro Power Projects
For Business Development in Georgia




  15 Projects under
  Design/Construction




        Source: Government of Georgia’, Economic Sector Presentation
                                                                       www.gf-capital.com I Kiev, March 29, 2012   Page 16
traseka




          WWW.TRACECA.ORG
www.gf-capital.com I Kiev, March 29, 2012   18
Golden Fleece Capital
For Business Development in Georgia




             There is a huge untapped potential in Marine, cargo storage and handling and air cargo logistics.
             Georgia-Turkey railway expeced completion in 2013 will open another efficient transportation
              possibilities
             Marine and railway development will stimulate road transport and logistics centers development.
             Transport system development will signicantly improve Georgia’s products cost competitivenes.
                                      Current           Target            Financing        Target            Financing
                                      contribution to   contribution to   estimate, 2012   contribution to   estimate, 2016-
        Transport and Logistics
                                      GDP, USD Mil      GDP in 2015,      - 2015, USD      GDP in 2020,      2020, USD Mil
                                                        USD Mil           Mil              USD Mil
        Marine                        0                 400               330              2,000             1,500

        Road                          223               500               550              2,000             2,000

        Railway                       42                200               100              400               500

        Air                           34                500               400              1,600             1,000

      Cargo handling and storage      148               500               620              2,000             2,500
      Other supporting transport      141               300               150              800               250
      activities
      Travel agencies , tour          187               300               50               600               150
      operators; tourist assistance
        Total                         776               2,700             1,800            9,400             7,900

        Source: GFC Analysis
                                                                           www.gf-capital.com I Kiev, March 29, 2012       Page 19
Golden Fleece Capital                         Marine Transport Development Potential
For Business Development in Georgia




            Growth potential is huge when starting from zero
            Georgia still has experienced and qualified Marine personnel, hystory of shipbuilding and operating
             significant fleets
                                 Current      Fleet in   Fleet             Investment       Estimate Annual    Estimated
                                 Fleet,       2015       Capacity in       estimates,       revenues, USD      paybeck
        Marine                   Quantity                2015 and          USD Mil          Mil                period, Years
        Transport                                        transport
                                                         volumes

        Container Ships, TEU     0            8          20,000            200              250                4–5
                                                         250,000

        Tanker, DW               0            2          70,000            70               100                4–5

        Dry Bulk Cargo Ships,    0            2          50,000            60               40                 5–10
        DW
        Fishing Vessals, t.      40 (120t.)   60                           70               100                1–3

        Total                                                              400              490


        Source: GFC Analysis
                                                                       www.gf-capital.com I Kiev, March 29, 2012      Page 20
                                                                                  Competitiveness



                                                                                                     Impact Potential
Golden Fleece Capital




                                                                                                                                               Cross Industry
For Business Development in Georgia




                                                                                                                                 Leadership
                                                                                  Potential




                                                                                                                                 Industry




                                                                                                                                               Linkage
       ObjectivesEconomy
       Agenda
       Georgian                        MICE tourism                                  .
                                                                                         .       .

                                                                                                 .
                                                                                                                     .       .
                                                                                                                                                  .
                                                                                                                                                      .   .

                                                                                                                                                          .
                                                                                                             .               .




                                                                                                                                       .
       Growth Perspectives
       GFC
                                       Wine tourism                                  .           .
                                                                                                                     .       .     .       .      .       .
                                                                                     .           .                                 .       .      .       .
       Agriculture                                                                                           .               .




       Energy
       Tourism                         Adventure tourism                                     .
                                                                                                                 .       .                        .       .
                                                                                                         .               .                        .       .




                                                                                             .
       Real Estate
       Manufacturing
                                      Source: USAID, EPI Value Chain Assessment
       Transport & Logistics
       Wood Processing
       Tourism
       Tourism
       Manufacturing
                                                Number of tourist arrivals in 2011 – almost 3 Million
       Our Proposal
       Specific Opportunities
                                                Hotel and restaurant revenues in 2010 – USD 200 M
                                                Kobuleti and Anaklia Free Tourism Zone (plot of land for
                                                 symbolic GEL 1 price, customized profit and property tax
                                                 exemptions)




   May 27, 2011                                               www.gf-capital.com I Kiev, March 29, 2012                                        Page 21
                                          WHY TO INVEST IN GEORGIA
Golden Fleece Capital                       /Investment Incentives /
For Business Development in Georgia




                                       Liberal Tax Code
       Agenda
                                       Tax-Free Regimes (FIZ, FTZ)
       Growth Perspectives
                                       Preferred Trade Regimes with Major
       Agriculture                      Trading Partners
       Energy                          Tax Incentives for Agricultural Investments
       Manufacturing                   Cheap & Skilled Workforce
       Transport & Logistics           Liberal Labor Code
       Tourism
                                       Investor Protection Regulations
                                       Investment Guarantees
       Specific Opportunities
                                       Choice of Law for Contracts
                                       International Dispute Resolution
                                        Mechanism



                                                    www.gf-capital.com I Kiev, March 29, 2012   Page 22
Golden Fleece Capital                 Real Estate Industry Drivers
For Business Development in Georgia




                                                   Average monthly nominal salary, USD
       Specific Opportunities
       Objectives                     400
                                      350
       GFC                            300
                                      250
       Agriculture                    200
                                      150
       Tourism                        100
                                       50
       Real Estate
       Real Estate                      0
                                                  2007               2008                  2009           2010
       Wood Processing
                                                                Average monthly nominal salary, USD
       Manufacturing                       Privatization
       Our Proposal                        Liberal land ownership law
                                           Road infrastructure development/improvement
                                           Urban and regional development
                                           Simplified permitting & free competition
                                           Old Tbilisi New Life – Tbilisi municipality initiative
                                           Free Touristic zones in Kobuleti and Anaklia

                                                              www.gf-capital.com I Kiev, March 29, 2012          Page 23
Golden Fleece Capital                     Entertainment and Retail Center
For Business Development in Georgia




       Specific Opportunities
       Objectives
       GFC
       Agriculture
       Tourism
       Real Estate
       Real Estate
       Wood Processing
       Manufacturing                  Project Overview

       Our Proposal                      Aim of the project is to attract USD 7 Mil financing for the swimming
                                          pool, gim and retail ceneter
                                         Located on the newly built main road in the center of Tbilisi’ most
                                          affluent area;
                                         Land is the property of the interested investor/developer with the
                                          best in the market experience in the simmilar projects
                                         Retail space occupancyis assured by preliminary contracts with the
                                          future tanants
                                         Design and site preparation works are completed
                                                             www.gf-capital.com I Kiev, March 29, 2012    Page 24
Golden Fleece Capital
For Business Development in Georgia   Project Example in Real Estate
                                      VillaPark – Project Overview
       Specific Opportunities
       Objectives                     Aim of the project is to attract USD 16M
                                      financing for the elite village project in Tbilisi
       GFC                            with 57% IRR and 4.5M NPV investment
       Agriculture                    returns.

       Tourism
       Real Estate
       Real Estate
                                         Only three competing projects with similar concept and target
       Wood Processing                    market segment. Total number of houses of ALL competing projects
       Manufacturing                      is less than 500 during the next 2-3 years.
                                         Possibility to adjust project scale and phases to sales development to
       Our Proposal                       reduce sales risks. This provides more flexibility in the project
                                          development compared to multistory residential building
                                          development, which in current market conditions requires entire
                                          building completion before starting sales, thus increasing sales risks.
                                         1 sq.m. prices of the multistory residential buildings are similar to the
                                          project proposed prices of USD 800-1000. We expect to sell to
                                          potential medium market apartment buyers by proposing very
                                          competitive and much more attractive lifestyle alternative.

                                                             www.gf-capital.com I Kiev, March 29, 2012    Page 25
Golden Fleece Capital                 Other Real Estate Development
For Business Development in Georgia
                                      Opportunities

                                         Inexpensive shopping centers in Tbilisi
       Specific Opportunities
       Objectives                         as well as in the regional cities;
       GFC                               Modern bus stations with shopping,
                                          food courts and entertainment;
       Agriculture
                                         GF Capital can assure renting
       Tourism                            agreements with tenants prior to the
       Real Estate                        construction as well as manage project
       Real Estate
                                          from concept to turn key to the
       Wood Processing                    operator
       Manufacturing
       Our Proposal




   May 27, 2011                                          www.gf-capital.com I Kiev, March 29, 2012   Page 26
                                      Cold Storage in Georgia
Golden Fleece Capital                 Greenfield Investment Opportunity
For Business Development in Georgia
                                       Project Overview

                                       Partnership Fund, an investment fund of the Government of
                                       Georgia, is inviting strategic investors to co-invest in a USD 7
                                       mil. Greenfield project aiming at development of 4,700t
       Specific Opportunities
       Objectives                      Capacity Fruit and Vegetables Cold Storage serving 1.2 mil.
                                       population of Tbilisi and Rustavi with quality fresh fruits and
       GFC                             vegetables year round. Co-investment and support for
                                       setting up the project will be facilitated by Partnership Fund.
       Agriculture
       Tourism                         Financing
                                       • The needed financing, estimated at USD 7 mil., is
       Real Estate                         envisaged to be formed from:
       Wood Processing
       Logistics and Wholesale         • The Investor’s contribution in the amount of 25% of
                                           financing needed in common equity
       Manufacturing                   • Fund’s matching contribution through sub-debt or
                                           common equity
       Our Proposal                    • Debt financing in the amount of 50% of total financing
                                           need, that can be acquired in Georgian market with
                                           assistance of Partnership fund




                                                          www.gf-capital.com I Kiev, March 29, 2012   Page 27
                                      Cold Storage in Georgia
Golden Fleece Capital                 Greenfield Investment Opportunity
For Business Development in Georgia

                                       Project Overview
                                        Estimated Start-up                   Projected annual
       Specific Opportunities
       Objectives                       Costs (USD mil.)                     performance at optimal
                                                                             capacity (USD mil.)
       GFC                              Equipment              3.4

                                        Land                   0.3           Revenue                   3.4
       Agriculture
                                        Buildings              2.2           Gross Profit              1.9
       Tourism
                                        Other                  0.6           Operating Profit          0.8
       Real Estate                                             0.5           Net Profit                0.4
                                        Working Capital
       Wood Processing
       Logistics and Wholesale          Total                  7.0           Net Profit Margin %      10.3%

       Manufacturing
                                         Estimated Investment Return Indicators (USD mil.)
       Our Proposal
                                         Project NPV                                        1.5
                                         Project IRR                                        16%
                                         Equity Holder’s IRR                                21%
                                         Payback Period                                    6 Yrs.
                                         Disc. Payback Period                             10+ Yrs.


                                                          www.gf-capital.com I Kiev, March 29, 2012     Page 28
                                      Christmas Tree Farming
Golden Fleece Capital                 Greenfield Investment Opportunity
For Business Development in Georgia

                                       Project Overview
                                       Partnership Fund, an investment fund of the Government of Georgia,
                                       is inviting strategic investors to co-invest in a USD 7.9 mil. Greenfield
       Specific Opportunities
       Objectives                      project aiming at Christmas tree growing and exporting from Georgia
                                       to Europe
       GFC
                                       Financing
       Agriculture                     •   The needed capital, estimated at USD 7.9 mil., is envisaged to be
                                           formed from:
       Tourism
                                       •   The Investor’s contribution in the amount of 25% of capital
                                           needed in common equity
       Real Estate
                                       •   Fund’s matching contribution through sub-debt or common
       Wood Processing                     equity
       Tree Farming
                                       •   Debt financing in the amount of 50% of capital needed, that can
       Manufacturing                       be acquired in Georgian market with assistance of Partnership
                                           fund
       Our Proposal




                                                            www.gf-capital.com I Kiev, March 29, 2012      Page 29
                                      Christmas Tree Farming
Golden Fleece Capital                 Greenfield Investment Opportunity
For Business Development in Georgia

                                       Project Overview

       Objectives                      Estimated Start-up               Projected annual performance at
       Specific Opportunities
                                       Costs (USD mil.)                 full capacity (USD mil.)
       GFC                                                              Revenue                          4.0
                                       Machinery             0.18
       Agriculture                     Land                  0.10       COGS                             1.5

       Tourism                         Buildings             0.08       General & Admin                  0.3

                                       Other                 0.40       Depr. Interest & Tax             0.5
       Real Estate
                                       Working Capital       7.10       Net Profit                       1.7
       Tree Processing
       WoodFarming
                                       Total                 7.86       EBITDA Margin %                  55%
       Manufacturing
       Our Proposal                        Estimated Investment Return Indicators (USD mil.)
                                               Project NPV                                     1.0

                                               Project IRR                                     16%
                                               Equity Holder IRR                               17%
                                               Payback Period                                9 Yrs.
                                               Disc. Payback Period                          11 Yrs.




                                                             www.gf-capital.com I Kiev, March 29, 2012         Page 30
Golden Fleece Capital                 Project example in Wood
For Business Development in Georgia
                                      Processing

       Objectives
       Specific Opportunities         Project Overview
       GFC                               The client proposes to sell all rights and obligations related
                                          to the registered forest management license free of due
       Agriculture
                                          and/or accrued tax and lending obligations to the potential
       Tourism                            operator. The proposed price for the license is USD 10M.
                                          Investment NPV – USD 7,4 M (@15% discount rate) and
       Real Estate                        IRR – 57%
       Wood Processing                   The deal sub-option includes current operator continuing
       Wood Processing
                                          operations and own 30% of the company and selling the
       Manufacturing                      remaining 70% at USD 7M
                                         Additional business development option: production of
       Our Proposal
                                          various type wood boards to substitute imports.




                                                         www.gf-capital.com I Kiev, March 29, 2012   Page 31
Golden Fleece Capital                 Consulting
For Business Development in Georgia




       Objectives
       Specific Opportunities
                                         Marketing analysis and business plans from the
       GFC                                industry and country’s best experts will eliminate high-
       Agriculture                        price mistake risks and provide better choice of
                                          alternative options in business development in Georgia
       Tourism
                                         Knowing value chain current settings and wider choice
       Real Estate                        of cooperation and competition options will help in
                                          defining most effective and efficient market entry and
       Wood Processing                    development strategies
       Manufacturing                     We will provide our advice on tax and regulatory
       Cooperation
       Our Proposal                       matters
                                         Our reporting system will be tailored to required scope
                                          and schedule beyond on traditional financial reporting,
                                          including key performance indicators for the industry,
                                          market and value chain components.



                                                         www.gf-capital.com I Kiev, March 29, 2012   Page 32
Golden Fleece Capital                 Project Management
For Business Development in Georgia




                                      We will reduce business development risks and costs by:
       Objectives
       Specific Opportunities
                                         Identifying, analyzing, planning and implementing best risk
       GFC                                response measures;

       Agriculture                       Your development will be international, while costs will be local;

       Tourism                           We will provide you with all the needed control instruments to
                                          assure project objectives performance
       Real Estate
       Wood Processing                You will achieve better project performance because we will:
       Manufacturing                     Provide best available industry experts and managers;
       Cooperation
       Our Proposal                      Assure plan performance by consistently measuring project targets
                                          and milestones performance;
                                         Provide better alternatives to choose for each and every project
                                          component as well as for the entire project;
                                         Explore possibilities of donor assistance, cost savings and
                                          preferential regulatory options


                                                            www.gf-capital.com I Kiev, March 29, 2012      Page 33
Golden Fleece Capital
For Business Development in Georgia
                                      Attracting Financing

       Objectives
       Specific Opportunities
                                       If looking for investing in Georgia, we will
       GFC
                                        provide wide range of pre-screened
       Agriculture                      investment opportunities and options;
       Tourism
                                       Joint projects for finding strategic and financial
       Real Estate                      investors and financiers;
       Wood Processing
       Manufacturing
       Cooperation
       Our Proposal




                                                      www.gf-capital.com I Kiev, March 29, 2012   Page 34
Golden Fleece Capital                 Contact Us
For Business Development in Georgia




       Objectives
       Specific Opportunities
       GFC
       Agriculture
       Tourism
       Real Estate
       Wood Processing
       Manufacturing
       Cooperation
       Our Proposal




                                                   Page 35

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:7
posted:9/23/2012
language:English
pages:35