ekonomika n.bakaSvili (ivane javaxiSvilis saxelobis Tbilisis saxelmwifo universiteti) uZravi qonebis realuri Rirebulebis gansazRvra sawarmos qoneba-es aris misi aqtivebis erToblioba. masSi udidesi xvediTi wili ukavia ZiriTad fondebs (ZiriTad kapitals), am ukanasknelSi ki Senobanagebobebs. etyoba, amiT aris ganpirobebuli is mdgomareoba, rom rasawrmos privatizebis dros misi qonebis Sefaseba xdeba ZiriTadad xdeba misive kuTvnili ZiriTAdi fondebis, kerZod ki Senoba-nagebobis fasiT. Senoba-nagebobebi miekuTvneba uZrav qonebas. maTSi Sedis kapitaluri Senoba nagebobebi, ganurCevlad maTi tipisa, saxisa, sididisa da daniSnulebis: agreTve satitulo droebiTi Senoba nagebobebi, e.i iseTni, romelTa moxmarebis vada or welze metia. Senoba-nagebobebis realuri Rirebulebis gansazRvris saWiroeba warmoiSoba maTi gayidvis dros. am problemebiT Cveni daintereseba gamoiwvia swored am saWiroebis dRevandelma maStabma, kerZod saqarTveloSi mimdinare saxelmwifo qonebis srulmaStabianma provatizaciam:saxelmwifo qonebam, uwinares yovlisa is Senoba nagebobebia, romelSic saxelwifo sawarmoebia ganTAvsebuli. amitom, ganurCevlad imisa, Tu ras yidis saxelmwifo-metalurgiul qarxanas, polokninikas, univermaRs Tu sxvas, qonebis sainventarizacio nusxaSi pirvel poziciad swored Senoba nagebobebi fiqsirdeba. amis garda rogorc ukve avRniSneT maTze modis sawarmos qonebis udidesi nawili. saqarTveloSi mimdinare provatizaciis procesi, rogorc presaSi weren, damTavrebamdea misuli, magram es jer kidev ar niSnavs damTavrebas da meorec privatizacia permanentuli procesia da igi SemdgomSic gagrZeldeba. kerZod, daiwyeba qonebis meoreuli gayidva: es procesi gagrZeldeba manam sanam qoneba ar ipovis gergilian mesaxuTres, xolo potenciuri mesakuTre- efeqtur qonebas. es bazris kanonia. ase rom Senoba-nagebobebis realuri Rirebulebis gansazRvraze Cveni Sexedulebebis publikacia aramcdaramc dagvianebulad ar migvaCnia. winamdebare statiaSi, Senoba-nagebobebis Rirebulebis gansazRvris sakiTxs vixilavT ara ganyenebulad, aramed am Senoba-nagebobebis gamoyenebis konteqstSi. e.i am saqmis Rirebulebis gaTvaliswinebiT, imis mixedviT, ra saqmec am Senoba nagebobebSi warimarTeba. maSasadame, saqme exeba ara ”SiSveli” Senobanagebobebis fass, aramed sawarmoo fass, ufro sworad mis mier ganxorcielebul biznesis fass. biznesi aris mogebaze orientirebulia saqme. es imas niSnavs rom swored warmarTuli biznesi momgebiania, Semosavliania. amitom Tu sawarmo iyideba mis saqmianobasTan, mis biznesTan erTad, maSin yvelaze upriania, misis qoneba Sefasdes ara misi aqtivebis (Senoba-nagebobebis) narCeni RirebulebiT, aramed sawarmoSi mimdinare biznesis momavali Semosavlebis gaTvaliswinebiT. saprivatizebo sawarmoTa qonebis Rirebulebis gansazRvris sakiTxs sxva postsabWour qveynebSi ufro meti pasuxismgeblobiT moeqcnen vidre CvenTan. CvenTAn es qoneba viTomda gaiyida sabazro fasebiT, magram sinamdvileSi arasrulyofili sabazro meqanizmebis gamo igi gaiyida indeqsirebuli narCeni (cveTa gamoklebuli) RirebulebiT. amas is faqti gvafiqrebinebs, rom umravlesi obieqtis saprivatizebo sabazro fasi daemTxva misi qonebis narCen Rirebulebas, rac Cveni azriT, dauSvebeli iyo. sxva postsocialistur qveynebSi (garad ruseTisa) saprivatizebo sawarmoTa qoneba Sefasdeba: ”Semosavlebis kapitalizaciis meTodebiT. am sami meTodidan CvenTvis yvelaze sayuradReboa Semosavlebis kapitalizaciis meTodi. am meTodis arsi aseTia: roca sawarmo iyideba mTlianad maSin mis gasayid fasSi unda Sevides is Semosavlebi romelsac sawarmos mflobeli miiRebs misi gamoyenebiT momavalSi. e.i unda moxdes momavaliSemosavlebis kapitalizacia. momavali Semosavlebis kapitalizacia-es aris maTi midinare Rirebulebis gansazRvra. momavali Semosavlebis kapitalizacia xdeba egreT wodebul formuliT: DCF-is (Discounted CaSh flow) gamoyenebiT [3,42]: PV=CF1/(1+V)+ CF2/(1+V)2+ CF3/(1+V)3+…+ CFn/(1+V)n formula gviCvenebs Semosavlebis priodulobas n wlis ganmavlobaSi. formulaSi CF1 , CF2, CF3,....CFn aris naRdi fulis momavali Semosavlebis nakadi Sesabamis wlebSi, V aris diskontirebuli norma (diskontis normad, rogorc wesi, aiReba bankis procenti riskis procentis damatebiT), PV aris momavali SemosavlebiT mimdinare Rirebuleba. sawarmos qonebis Sefasebis am meTodSi yvelaze sapasuxismgeblo aris moamvali Semosavlebis nakadebis prognozireba. rogorc Cans, swored am sirTulis gamo ver iqna igi gamoyenebuli saqarTvelos saxelmwifo qonebis privatizaciis dros. Cveni azriT es prognozi SeiZleba dayrdnoboda wina (ukriziso) periodSi (1980-1985 wlebis) sawarmoo Semosavlianobis maCveneblebs. es varianti ajobebda mis srul ugulebelyofas. unda aRiniSnos isic rom saqarTvelos ekonomikis saministrom 1998 wlis 2 Tebervalis #8 brZanebiT gamosca debuleba-”uZravi qonebis gadacemisas sabazro fasis gansazRvris wesi”, romelic aregulirebs yvela saxis uZravi qonebis gasxvisebis, qiravnobisa da giravnobisas sabazro fasis gansazRvras. yvela saxis uZravi qonebis sabazro fasis gaangariSebis safuZvels warmoadgens yvela saxis uZravi qonebis farTi, mdebareoba, Senoba nagebobebis maxasiaTeblebi, (mdgomareoba) dakavebuli miwis nakveTis farTi. aqedan gamomdinare sabazro fasi gaiangariSeba formuliT: f(s)=f(0)XtXzX(kXs+m), sadac f(s) aris uZravi qonebis sabazro fasi; f(0) aris qalaqSi (raionSi) uZravi qonebis 1 kv.m-is sabazro fasi da igi gaiangariSeba da mtkicdeba adgilobrivi mmarTvelobis organoebis mier periferiul zonaSi mdebare uZravi qonebis dasabegri Tanxidan gamomdinare im pirobebSi rodesac k=1-s da m=0-s; t aris uZravi qonebis saerTo farTi; z aris uZravi qonebis mdebareobis maxasiaTebeli s aris sarTulis Semasworebeli koeficienti m aris uZravi qonebis sabazro fasis gansazRvrisas dakavebuli miwis nakveTis monawileobis koeficienti. uZravi qonebis zonaluri koeficientis(z) gaangariSgeba xdeba TiToeuli qalaqisaTvis (raionisaTvis) calcalke dasaxlebaTa socialur ekonomikur da bunebrivi maxasiaTeblebis mixedviT rogoricaa: mosaxleobis raodenoba, administraciuli statusi, sameurneo da funqciuri profili, satransporto infrastruqturiT uzrunvelyofa, adgili gansaxlebis sistemaSi. qalaqis (raionis) zonirebisas mxedvelobaSi miiReba Semdegi kriteriumebi: 1) 2) 3) 4) 5) 6) 7) ekonomikuri infrastruqtura satransporto infrastruqtura socialuri infrastruqtura keTilmowyoba bunebriv-ekologiuri pirobebi prestiJuloba adgili gansaxlebis sistemaSi uZravi qonebis mdgomareobis maxasiaTeblis (k) mniSvnelobis gansazRvra unda moxdes adgilze vizualuri daTvalierebiT, Semdegi parametrebis gaTvaliswinebiT:kapitaluroba, gegmareba, Weri, adgilmdebareoba, prestiJuloba, keTilmowyoba, avariuloba, cveTa. yovelive ZemoT Tqmuli imis misaniSneblad dagvWirdeba rom darCenili saprivatizacio sawarmoebi gaiyidos Tavis realur fasSi, rom, Tu sawarmoebi Semosavlianebia, moxdes am Semosavlebis diskontireba. Cven mier zemoT aRniSnuli meTodiT gansazRvruli axlandeli Rirebuleba iqneba maTi amJamindeli gasayidi(saprivatizebo) fasi. Cven vfiqrobT, rom am meTodiT gaangariSebuli sawyisi saprivatizebo fasebi ufro realuria Tumca isinic Seicaven cdomilebis umniSvnelo procents.