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EBRDís Opening Panel Discusses Ingredients of a Successful Company

Author: Baia Dzagnidze

Private sector development and dealing with the changing business environment were the main topics of the opening panel of the European Bank of Reconstruction and Developmentís (EBRD) 24th Annual Meeting held on May 14. Bringing together executives and entrepreneurs from the EBRD region with foreign investment capital, the panel, The (R)evolutionary Road: Company Stories Made Real, summarized what these changes meant for businesses, and how they navigated through adversities and overcame obstacles.

EBRD President Suma Chakrabati opened the Business Forum with a keynote speech reflecting upon what the private sector needs from public institutions coming from the Bankís experience and setting out the EBRDís response to the challenges ahead.

While speaking about achieving success in businesses, Chakrabati noted that leadership and favorable policy regulations are some of the most important principles. And in order to promote investments and improve the business climate in Georgia, EBRD and the Georgian Government signed a memorandum of understanding to form the Investors Council in Georgia.

The panel featured entrepreneurs of different fields, who individually shared their success stories with the audience. For instance, Vaja Jhenti, the President and CEO of Trans-Oil Group, recalled that the Trans-Oil Group of Companies started its grain and agro trading activities in Moldova and Ukraine in 1996. ďAt that time no one believed in that. [The success] is all about the vision and taking risks,Ē he noted adding, that challenges come every day, sometimes unexpectedly and you need to know how to deal with them.

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EBRD Panel: Gender Diversity is Good for Business

Author: Baia Dzagnidze

Aiming to discuss the growing need for companies to innovate and embrace diversity within their organizations, the EBRDís Annual Meeting brought together representatives of politics, business and research institutions at the Driving Change: Gender-Responsive Practices in Business panel on May 14. Companies who carry out gender-responsive practices achieve effective and efficient positioning in the market, stated the participants.

According to the Women Matter report of 2013 by McKinseyís, the corporate culture plays a pivotal part in developing gender diversity at senior levels of corporations. The study shows that corporate culture is as significant as an individual point of view in whether women believe they can succeed.

Designed to assist women to manage and grow their own small and medium-size enterprises, the EBRD created a Women in Business program providing credit lines and offering customized advice for women entrepreneurs. Thus, the topic has been a main feature of the Business Forum since 2002, attracting more and more participants and attendees each year.

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