ISET Policy Institute hosts seminar on RIA institutionalization
Thursday, 22 December, 2022

On 22 December, ISET Policy Institute hosted an online event entitled “Where Georgia Stands on Regulatory Impact Assessments and what is next?”. Norberto Pignatti, ISET Policy Institute’s Lead Economist and Ph.D. in Economics from the University of Bologna, led the event and provided insights on regulatory impact assessment, a tool for high-quality policymaking. The event itself was supported by the Government of Sweden.  

Mr. Pignatti covered topics related to RIAs, such as paths to institutionalization, legislation, typologies, and the practical implications of reform. He went on to offer an overview of the current situation and noted where Georgia stands since RIA institutionalization in 2020. He then talked in detail about the capacity gap and the main limitations and risks of the current setup.

Thereafter Mr. Pignatti highlighted that one of the main challenges is to develop a system that is sustainable in the long-term – one for (a) defining and enforcing the minimum qualification standards for RIA professionals; (b) increasing the number of qualified RIA experts to match expected needs; and (c) ensuring the continuous upgrading and upscaling of current and future RIA experts’ skills. Finally, he emphasized certification as a possible path forward, one which can address the various challenges mentioned above.