Assessing the progress of the SME Development reform (henceforth "SME reform") relates to the activities that have been implemented and are planned in accordance with the SME Development Strategy of Georgia 2021-2025. The strategy aims to restore positive trends that were present prior to the onset of the pandemic and to support the continued growth of small and medium-sized enterprises.
In an online international panel discussion hosted on December 22 at 2 PM, the ISET Policy Institute delved into the economic implications of Georgia being granted EU candidate status. The event, titled 'What economic benefits should Georgia expect after receiving EU candidate status?' sought to address the question that has captured broad professional and public interest since the historic decision on December 14.
As Georgia advances on its path toward European Union (EU) candidacy, the anticipated economic benefits, increased foreign investment, and alignment with European standards present a promising trajectory, worthy of further attention within the following article. The granting of European Union candidate status is a significant political signal, one which represents an initial step towards acknowledging that a candidate country is on the path towards eventual EU membership.
This policy brief addresses risks tied to Russian business ownership in Georgia. The concentration of this ownership in critical sectors such as electricity and communications makes Georgia vulnerable to risks of political influence, corruption, economic manipulation, espionage, sabotage, and sanctions evasion. To minimize these risks, it is recommended to establish a Foreign Direct Investment (FDI) screening mechanism for Russia-originating investments, acknowledge the risks in national security documents, and implement a critical infrastructure reform.
On December 7, ReforMeter and the USAID Economic Governance Program hosted a second public-private dialogue dedicated to assessing progress in E-commerce reform. The reform aims to improve the legal and regulatory framework of the field of electronic commerce in terms of the protection of consumer rights, and activities of intermediary service providers, provides personal data protection and payment system and payment service directions.