Before the current insolvency reform, Georgia’s legislative framework regulating insolvency proceedings fell short of meeting international standards – it did not meet either creditors’ or debtors’ needs and failed to offer incentives to the insolvent companies to choose rehabilitation as their optimal strategy for resolving financial difficulties.

To identify the specific risks associated with Russian business ownership, this study draws upon a comprehensive literature review and conducted expert interviews. The study places Russia within the context of a global threat actor and examines the exploitation of private business ownership by hostile state actors as a hybrid threat.

The profit tax system that came into force on January 1, 2017, in Georgia aims to create a favorable business environment, accelerate economic growth, and improve tax administration. This system is based on the distributed profit taxation regime, similar to the one implemented in Estonia.

The Tourism Reform incorporates the amendments envisioned by the Tourism Draft Law, which was initiated by the Parliament of Georgia. In addition, it encompasses planned changes in the tax benefits system for agritourism and wine tourism service providers.

This annual report provides an analysis of economic trends, as well as denoting the challenges and opportunities (in local, regional, and global contexts) across selected value chains within six sectors to improve evidence-based decision-making through the provision of quality information and analytics.

On 27 June 2014, Georgia and the EU signed the Association Agreement (AA), including the Deep and Comprehensive Free Trade Agreement (DCFTA), which fully entered into force on 1 July 2016. The goal of the DCFTA is to provide a framework for new trade opportunities, enhance competitiveness in the business sector, and support closer economic integration between Georgia and the EU based on reforms in trade-related fields.