Attracting investment is one of Georgia’s key priorities to promote sustainable economic development. Despite carrying out reforms to reduce burdens on business, as reflected in Georgia’s extraordinarily high ranking in the World Bank’s Doing Business Index for 2011, its scoring in the World Economic Forum’s (WEF) Global Competitiveness Index reflects an environment of pessimism and uncertainty among investors as they express concern about a variety of topics, such as protection of property rights, investor rights, accounting and audit standards, and corporate governance. The elimination of remaining policy barriers to implement a world-class investment environment in Georgia—one that ensures a level playing field and improves investor protections—would enhance Georgia’s competitive positioning to attract value-added investment and promote sustainable job creation. Investor confidence would be enhanced by strengthening dispute resolution and enforcement mechanisms related to investor rights, including tax-related concerns. There is also need to enhance legislation that sets corporate governance, and accounting and auditing standards to strengthen business practices in Georgia, improve the ability of companies to access finance, and attract foreign partners.
May 2, 2018
Monitoring and Evaluation