On the first of January, Armenia will adopt an entirely new pension system. This radical reform addresses two problems: widespread poverty among the elderly and a lack of capital in the economy. The very same problems also exist in Georgia, where the standard governmental pension currently is 150 lari, and where the economy is suffering from high capital costs due to notoriously low saving rates.

As I do every year since I arrived in Georgia back in 2009, this November I attended the Tbilisi International Fair for Agro, Food and Drink Products, Packaging, and Processing. This fair, although very small for international standards (some 60 stands) is actually one of the most important trade exhibitions in the country, and the only significant one with a focus on agriculture and food sectors.

Last year, Prime Minister Bidzina Ivanishvili announced his plans to set up a so-called co-investment fund. It took a year for this idea to mature, but finally, a group of financially potent investors endowed the fund with 6 billion dollars.

On October 11, 2013, ISET was pleased to host Swiss Ambassador to Georgia H.E. Günther Bächler. In introducing his presentation the ambassador outlined his interesting career track, which started with a BA in Art and History of Art and then moved to conflict studies and diplomacy.

On Monday evening I am taking the express train from Tbilisi to Samtredia with my wife and two kids (business class, 120GEL). We plan to stay overnight in a little family hotel (40GEL), and at 6.30 am we’ll board the Wizz Air flight to Katowice, Poland, at the cost of €40 a person and €35 per suitcase (one way).