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Mariam Koyava

<p style="text-align:justify;">PSP distributes medicines within the Georgian pharmaceutical market and imports into/dispenses throughout Georgia products from over 100 of the world’s leading pharmaceutical manufacturers. At PSP, the appropriate storage conditions for each drug are maintained with the same conditions also being observed during their delivery to pharmacies. It is for this reason that PSP can guarantee the preservation of the quality of their medicines from manufacturer to customer.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;In 2017, SavvY implemented the following services: Full Diagnostics of IFRS, IFRS Implementation and Audit Support. Deriving from the company’s specific business activities the most critical elements were Property, Plant, and Equipment, Inventories, and Revenue.</p>

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IFRS Adoption & Implementation

IFRS Implementation in pharmaceutical company

<p style="text-align:justify;">SavvY was the implementing party of International Financial Reporting Standards (IFRS) Capacity Building Activity across Georgia which was initiated by the Ministry of Finance of Georgia’s Service of Accounting, Reporting, and Auditing Supervision (SARAS) and supported by the United States Agency for International Development (USAID) project “Governing for Growth” (G4G).</p><p style="text-align:justify;">The project had very significant role in supporting the companies in successful IFRS implementation that was required by the new law regarding Audit and Financial Reporting.&nbsp;</p><p style="text-align:justify;">The project had the following outcomes:</p><ul><li style="text-align:justify;">The pool of IFRS trainers was created: 30 English-speaking and 58 Georgian-speaking trainers were trained&nbsp;</li><li style="text-align:justify;">The interactive training modules materials and syllabus was created that became publicly available resource&nbsp;</li><li style="text-align:justify;">100 accountants were trained via the newly designed interactive training modules</li><li style="text-align:justify;">35 training modules with the materials amounting to more than 2500 pages were translated to Georgian language</li></ul><p style="text-align:justify;"><a href="https://saras.gov.ge/ka/Home/Modules?Length=4">You can see this module on link</a>.</p>

USAID (G4G)

Saras

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Ecosystem Development

IFRS for SME Capacity Building Project

<p style="text-align:justify;">The Growth Hub (GH) project continued to be developed for some years and was supported by the several international organizations or projects.&nbsp;</p><p style="text-align:justify;">The initial scope and concept of the GH was supported by the UNDP Georgia, which at that time was implementing the second phase of the project entitled “Fostering Regional and Local Development in Georgia” (FRLD 2). After discussing the scope and concept with Irakli Nadareishvili, Deputy Minister of the Ministry of Economy and Sustainable Development of Georgia (MoESD), and Tornike Zirakishvili, Deputy Director of LEPL Enterprise (EG), the project was considered exciting and moved to the next stage. With the initiation and support of the EG stakeholders mapping and action plan for the GH for Adjara region was financed under the USAID Economic Security Programme and the same scope for Samegrelo-Zemo Svaneti was financed under the UNDP project "Fostering Regional and Local Development in Georgia, Phase 2" with the support of the Ministry of Regional Development and Infrastructure of Georgia (MRDI), the Swiss Agency for Development and Cooperation (SDC) and the Austrian Development Cooperation (ADC).&nbsp;</p><p style="text-align:justify;">As of now, both GHs in Samegrelo-Zemo Svaneti and Adjara regions of Georgia are announced to be launched in summer 2023 followed by the expansion of the GH network in all regions and eventually the full coverage of Georgia.&nbsp;</p><p style="text-align:justify;">We are honored to have been a part of the journey that brought the&nbsp;GH from concept to implementation.</p><figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:24.13%;"><col style="width:75.87%;"></colgroup><tbody><tr><td><h1>How We Helped</h1></td><td>Before preparing the concept of Growth Hubs, international best practices were analyzed. With respect to governance and structure, the most relevant and optimal analogue was found to be in Great Britain. We also analyzed examples India, Latvia, and Australia. In some countries, a practice similar to a growth hub is not implemented at all, and in some countries the functions of growth hubs are attributable to their ministry of economy.&nbsp;</td></tr></tbody></table></figure><p style="text-align:justify;">Under the project “Fostering Regional and Local Development in Georgia” (FRLD 2) funded by UNDP, JSC SavvY developed the concept for the Growth Hubs. The studies conducted in the framework of the project revealed the importance of rural business development for economic growth of the regions of Georgia and factors preventing or contributing to this process. The results show the need of business support organization that will focus on researching the business environment and promoting local business development, that will be the bridge for rural businesses to find and access to intensive local support and advice where they have the opportunity, ambition and greatest potential to grow and scale-up. Although there is a business growth potential in regions of Georgia, the need and importance of support services for their growth and prosperity is crucial. Growth Hub may address all above mentioned issues. The main drive of GH is to be proactive and work closely with rural businesses to acts as a communicator and negotiator at a national level with government, advisers, businesses, academia and other target audience. GHs will be the bridge for rural businesses to access specialists in any field of development they need, including individual consultancy, exporting, accessing finance, trainings. Within the framework of the project, the SavvY team visited one of the Growth Hubs in the United Kingdom and gained firsthand knowledge of its scope of operation and structure.</p><p style="text-align:justify;">Working on the Strategy and action plan of the GH in different regions of Georgia, as well as analyze the macroeconomic background and prepare stakeholders mapping was proceeded under the other two projects: stakeholders mapping and action plan for the GH for Adjara region was financed under the USAID Economic Security Programme and the same scope for Samegrelo-Zemo Svaneti was financed under the UNDP project "Fostering Regional and Local Development in Georgia, Phase 2" with the support of the Ministry of Regional Development and Infrastructure of Georgia (MRDI), the Swiss Agency for Development and Cooperation (SDC) and the Austrian Development Cooperation (ADC).&nbsp;</p><p style="text-align:justify;">The scope of these two projects included preparing the concept of GH and conducting primary and secondary researches about the MSMEs attitudes, existence of local service providers and private sector development in target regions. Primary research included intensive face to face interviews and telephone surveys of MSMEs in the target region of Georgia. Secondary research was done to assess the level of private sector development in the target region of Georgia, specifically in the Samegrelo – Zemo Svaneti and to identify the sectors contributing most of all to the country’s GDP.</p><p style="text-align:justify;">The concept and services and the governance structure was developed with the involvement of an international consultant from Great Britain who had more than 20 years of experience in GHs and who greatly contributed to the development of the strategy and action plan of the GH. The document summaries the market research of the Growth Hub stakeholders as well as the concept, strategy and action plan of the Growth Hub.</p><figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:27.48%;"><col style="width:72.52%;"></colgroup><tbody><tr><td><h1>Impact and Potential</h1></td><td>Growth Hubs will assist MSMEs in attaining growth through various initiatives and services. Growth Hubs will act as conduits for rural firms to connect with specialists in a variety of sectors (e.g., exporting or access to finance) and formats (e.g., consultancy and training).&nbsp;</td></tr></tbody></table></figure><p style="text-align:justify;">GHs will serve as national communicators and negotiators with the government, advisers, corporations, academia, and others. Their suite of programs and services will be geared to help the main industry sector manage change, adapt to business challenges, increase profitability, and plan for the future. Along with group trainings, services will mostly entail individual consultations, face-to-face meetings, and individual growth and export plans are developed in partnership with government, industry specialists and experts, and other organizations that support regional development to assist the development of competitive, sustainable, and resilient rural businesses.</p><p style="text-align:justify;">Physical, regional branches of the "Enterprise Georgia" agency will be established, with the goal of assisting local enterprises. The hub will feature support consulting and other service providers to network with local MSMEs and assist in building the fundamental skills of entrepreneurs in the region.&nbsp;</p><p style="text-align:justify;">This will also in part support the development of consulting businesses in the regions, with the agency becoming a partner for them on the local level and a facilitator for entrepreneurs to provide those services through the GH that MSMEs seek to receive.&nbsp;</p><p style="text-align:justify;">As a result, the Growth Hub will assist the development of rural/local MSMEs, facilitating local economic growth and prosperity across the country.</p><p style="text-align:justify;">See article about our project</p><ol><li style="text-align:justify;"><a href="https://www.enterprisegeorgia.gov.ge/en/News/enterprise-georgia-delegation">Enterprise Georgia delegation got acquainted with the operations of Growth Hubs in Englan</a><span style="color:hsl(0,0%,0%);"><u>d</u></span></li><li style="text-align:justify;"><a href="https://bm.ge/en/news/icc-launches-centre-of-entrepreneurship-in-tbilisi/36886">ICC Launches Centre of Entrepreneurship in Tbilisi</a></li></ol>

Enterprise Georgia

USAID

UNDP

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Strategy Development

Growth Hubs in Georgia

<p style="margin-left:0in;text-align:justify;">SavvY worked on a project initiated by Enterprise Georgia (under the Ministry of Economy and Sustainable Development of Georgia) and funded and supported by the European Bank for Reconstruction and Development (EBRD). Our team had been working on an investment aftercare service development program together with FDI Center. FDI Center is a specialized advisory firm in the field of foreign direct investment Based in Berlin, Germany. FDI Center is entirely focused on helping governments and investment promotion agencies (IPAs) to attract investment and retain more efficiently and successfully.</p><p style="margin-left:0in;text-align:justify;">The program aimed to design relevant investment aftercare services that address the key challenges of international investors in Georgia. Specifically, these activities were designed to facilitate the operation and expansion of investor activities in Georgia and enhance coordination and cooperation among governments, investors, and related stakeholders, with a view toward enhancing the positive impact of FDI.</p><p style="margin-left:0in;text-align:justify;">The project's goals, which our team was responsible for, were the development of the database of existing foreign investors in Georgia; up to 50 Interviews with FDI investors to identify the challenges they face during the expansion of their activities as well as relations with government entities and their perceptions about the need of aftercare services; the development and organization of capacity-building workshops for government entities whose activities are related to FDI investment; and delivering recommendations on providing quality aftercare services.</p><figure class="table" style="width:99.86%;"><table class="ck-table-resized"><colgroup><col style="width:35%;"><col style="width:65%;"></colgroup><tbody><tr><td><h1>How we helped</h1></td><td>The project went through different stages to achieve the initial goals. At first, our team created a database of FDI investors by combining data from several sources. In addition, we developed a sustainable methodology for updating the database. In the second stage, our team formulated a set of clear recommendations to improve investor aftercare services. These recommendations were based on in-depth interviews conducted among C-level executives of international companies or FDI investors in Georgia.</td></tr></tbody></table></figure><p style="margin-left:0in;text-align:justify;">Investors’ feedback can be vital for policymaking and overall investment retention. The foreign investor perception survey was designed to help identify and consolidate information about the specific aftercare challenges and issues active investors face in Georgia. This comprehensive feedback enabled our team to provide policy and institutional-level recommendations.</p><p style="margin-left:0in;text-align:justify;">In the next stage of the program, SavvY’s partner FDI Center developed a detailed program and training materials for the capacity-building workshops. Capacity-building workshops were conducted among high-level stakeholders and Enterprise Georgia to enable the delivery of quality aftercare services and share the international practices. We presented the recommendations to the EG's team at the workshop, observed&nbsp;their inputs, tailored recommendations according to present EG resources, and then delivered our findings to the EG and MoESD management teams.</p><p style="margin-left:0in;text-align:justify;">Furthermore, the SavvY team and FDI Center designed the follow-up survey to be used by EG after the conclusion of the project to collect feedback from investors. In addition, our team developed a sustainable methodology for updating the database of FDI investors and prepared recommendations for data sources (such as Geostat or NAPR) to improve the data collection process if needed.</p><p style="margin-left:0in;text-align:justify;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<img class="image_resized" style="width:25%;" src="/uploads/IMG_4407_min_1_1143892b34.jpg" alt="IMG-4407-min (1).jpg"> &nbsp;&nbsp;<img class="image_resized" style="width:25%;" src="/uploads/IMG_4408_min_1_d8a55c7f87.jpg" alt="IMG-4408-min (1).jpg"> &nbsp;&nbsp;<img class="image_resized" style="width:25%;" src="/uploads/IMG_4406_min_1_7ff3a939dd.jpg" alt="IMG-4406-min (1).jpg"> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</p><figure class="table" style="width:99.92%;"><table class="ck-table-resized"><colgroup><col style="width:30.16%;"><col style="width:69.84%;"></colgroup><tbody><tr><td><h1>Impact and potential</h1></td><td><p style="text-align:justify;">During the project, 50 foreign investor company representatives were surveyed, and a database of around 7,500 companies receiving FDI was created. In addition, the methodology for updating the database was provided, and key personnel was trained through workshops.</p><p style="text-align:justify;">As a result, the project outcomes enabled Enterprise Georgia to gather investors’ feedback for more effective policymaking.&nbsp;</p><p style="text-align:justify;">At the same time, the recommendations provided by our team and FDI Center will strengthen the capacity of Enterprise Georgia to enhance the provision of the aftercare services.</p></td></tr></tbody></table></figure><p style="margin-left:0in;text-align:justify;">&nbsp;</p>

European Bank for Reconstruction and Development (EBRD)

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Foreign Investor Perception Survey and Improvement of Aftercare Capacity of EO (Georgia)

<p style="text-align:justify;">During the May-June 2018 period, SavvY conducted corporate trainings about analyzing financial statements and using accounting ratios at T&amp;K Restaurants. The 16-hour training was fully adapted to the needs and realities of the fast food industry.<br><br>The main topics covered during the training were the following:</p><ul><li style="text-align:justify;">Analysis of Financial Statements</li><li style="text-align:justify;">Connection between different statements</li><li style="text-align:justify;">Framework of monetary policy in&nbsp; Georgia</li><li style="text-align:justify;">Exchange rate modes</li><li style="text-align:justify;">Budgeting</li><li style="text-align:justify;">Ratios analysis and KPI</li></ul>

T&K Restaurants

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 Financial Management

Financial Reporting

Financial Training in McDonald’s Georgia

News

<figure class="image"><img src="/uploads/future_fit_cities_2023_04b304b2d7.jpeg" alt="future fit cities 2023.jpeg"></figure><p style="text-align:justify;">The Mayors for Economic Growth Facility (M4EG), a joint initiative of the EU and UNDP, organized the <a href="https://eum4eg.com/news/eastern-partnership-mayors-gather-in-batumi-georgia-to-look-into-future-fit-cities-prospects/">"Future-fit Cities"</a> Forum 2023 to support local governments and communities in developing new growth trajectories. The Forum aimed to take account of the current situation and chart the way forward on how to build resilience and grow green from crises, including through tackling leadership and finance challenges. The Forum took place on the 3rd and 4th of October in Batumi, Georgia.<br>During her speech, Mariam emphasized the need to build a solid foundation for the future amidst the current economic and social challenges. She highlighted the pressing need for innovation and financing for cities to thrive. Mariam underscored the importance of fostering local, national, and regional collaboration to capitalize on emerging opportunities.</p>

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Mariam Koyava was a speaker at Future Fit Cities Batumi 2023

<p style="text-align:justify;"><img src="/uploads/Savv_Y_Presentation_batumi_2c3f27d26c.jpg" alt="SavvY Presentation batumi.jpg">Economic forum for women entrepreneurs living in the regions - business association "Women for the Future", "International Center for Private Entrepreneurship" and "European Bank for Reconstruction and Development" (EBRD) within the framework of the "Women in Business" program funded by the European Union, forums were held in three regions of Georgia - Kakheti, Samegrelo, and Adjara.&nbsp;</p><p>&nbsp;</p><figure class="image image-style-side image_resized" style="width:25%;"><img src="/uploads/363285163_668496605312307_4076151172798361019_n_e5428307a1.jpg" alt="363285163_668496605312307_4076151172798361019_n.jpg"></figure><p style="text-align:justify;">After Telavi and Zugdidi, the economic forum was held in Batumi on July 21. Khatia Devadze, the representative of SavvY, actively participated in the event, where she engaged with the participants and provided them with valuable insights about SavvY, services, its mission, and the opportunities it offers to entrepreneurs. Her informative presentation left a positive impact on the attendees, further fostering the collaborative spirit among the attendees at the forum.</p>

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Economic forum for women entrepreneurs living in the regions 

<p style="text-align:justify;"><img src="/uploads/Sample_Page_Mockups_min_b087fa1011.png" alt="Sample Page Mockups-min.png"><span style="font-family:&quot;Segoe UI Historic&quot;, &quot;Segoe UI&quot;, Helvetica, Arial, sans-serif;">SavvY has developed a new product, </span><a href="https://reporting.ge/"><span style="font-family:&quot;Segoe UI Historic&quot;, &quot;Segoe UI&quot;, Helvetica, Arial, sans-serif;">Reporting.ge</span></a><span style="font-family:&quot;Segoe UI Historic&quot;, &quot;Segoe UI&quot;, Helvetica, Arial, sans-serif;"> an analytical platform for automated BI reports, which gives companies access to the company's financial information in a recently updated mode.</span></p>

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SavvY has developed Reporting.ge

<p style="text-align:justify;"><img src="/uploads/IMG_9904_min_667d7eb0fc.jpg" alt="IMG_9904-min.jpg"><span style="font-family:&quot;Segoe UI Historic&quot;, &quot;Segoe UI&quot;, Helvetica, Arial, sans-serif;">The real estate conference "GREMO" was held in Batumi on May 31. At the event, the managing partner of SavvY, Mariam Koyava, spoke about evaluating real estate investments and proper investment management techniques.</span></p>

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The largest annual real estate conference in Batumi, Georgia "GREMO"

<p style="text-align:justify;"><img src="/uploads/Main_030a42721e.jpg" alt="Main.jpg">Sharing information and knowing global trends are crucial for success in the ever-evolving real estate industry, and that's exactly what the real estate conference aims to do. Prospect consulting company</p><p style="text-align:justify;">actively takes care of the development of this field in Georgia. For three years already, it has been offering a very interesting opportunity to the representatives of the real estate sector.</p><p style="text-align:justify;">"GREMO" annually brings together industry leaders, professionals, investors and innovators from all over the world. The event is one of the unique platforms for knowledge exchange, business networking and real estate sector development.&nbsp;</p><p style="text-align:justify;">"This type of conferences provides an opportunity for industry professionals to exchange ideas and deepen their knowledge of niche markets, discover new opportunities, develop new products, use modern approaches and implement innovative solutions," says Guga Kobakhidze, founder of Prospect and organizer of GREMO.<br>This year, GREMO will feature presentations, panel discussions and B2B meetings to build and strengthen business relationships. The conference will feature more than 10 speakers (from both the public and private sectors) and up to 70 representatives from development and construction companies.<br>Prospect's goal is to provide participating companies with the most relevant and necessary business development topics during the annual conference. GREMO 2023 is organized in cooperation with companies such as TBC Leasing, Aldagi, TEKTO Group, SavvY, CMC, FMG Soft. BPN and BMG are media partners of the event.<br>Mark May 31 in your calendar and join the annual real estate conference "GREMO" Batumi 2023, which offers a unique opportunity for companies from the development sector to create more successful, sustainable and green cities worth investing and living in.</p><p style="text-align:justify;"><a href="https://fb.watch/kQ7MJboZTR/">Additional information about the project.</a><br>&nbsp;</p>

Hey, I'm Mariam Koyava and I'm gonna help you

Projects I've worked on

IFRS Implementation in pharmaceutical company

IFRS for SME Capacity Building Project

Growth Hubs in Georgia

Foreign Investor Perception Survey and Improvement of Aftercare Capacity of EO (Georgia)

Financial Training in McDonald’s Georgia

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Publications

Mariam Koyava was a speaker at Future Fit Cities Batumi 2023

Economic forum for women entrepreneurs living in the regions

SavvY has developed Reporting.ge

The largest annual real estate conference in Batumi, Georgia "GREMO"

The largest annual real estate conference in Batumi, Georgia "GREMO"

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