ISET

On July 18 2017, Mr. Nicola Mariani, managing partner of Dechert Georgia LLC, visited ISET within its Summer School programme and discussed economic reforms, political transition and development organized by International School of Economics (ISET). Mr. Mariani talked about the reforms that have been implemented by the governments of Georgia, and what should be done to ensure the independence, professionalism and efficiency of the judicial system, which is crucially important to ensure that Georgia remains an attractive country for foreign investors.

“Investors need reliable court systems all over the world,” stated Mr. Mariani while going over the reforms in the Georgian Judicial System. According to him, the Georgian judicial system has undergone significant reforms since adopting the organic laws on Common Courts and on the Supreme Court in 1997-1998, major achievements of which – among others – are the passing of the Organic Law on Common Courts of Georgia, the passing of the Organic Law on the Supreme Court of Georgia, the introduction of a new system for the appointment of judges, and the appointment of judges who have passed exams and gone through a stringent selection process.

Georgia is a favorable investment destination, with a simple tax code consisting of six flat taxes and a total tax rate of only 16% on commercial profits that are distributed. Georgia was ranked 16th on the World Banks Ease of Doing Business for 2017 (by contrast, Switzerland is No. 31 and Norway No. 6), and No. 13 on the Bribery Risk Scale of the “Trace”, an International Transparency Rank (Switzerland is No. 16 and Norway No. 5). Georgia has signed an Association Agreement with the EU, is a member of WHO, has ratified the Energy Charter Treaty and signed the New York Convention.

On Sunday July 16 2017, participants of the ISET Summer School of Reformers visited the Shuakhevi Hydro Power Plant developed by Adjaristsqali Georgia LLC (AGL), a company set up specifically for this purpose as a joint venture between India’s Tata Power and Norway's Clean Energy Invest (with shares of 40% each), and IFC (with 20 %). A presentation made by the CEO of AGL, Mr. Prashant Joshi, CEO of AGL; Mr. Josh Gerard, Project Manager of AGL; and Mr. Zviad Diasamidze, the head of Corporate Responsibility of AGL. This was followed by a tour of the Power House, the Dam and the Reservoir, during which the AGL representatives explained the project’s cycle, showed maps of the facilities, and shared AGL’s impressive initiatives for improving the lives of people living in the area of construction.

Our Partners