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.
The Law of Georgia on Water Resource Management (the Law), passed by the Parliament in its third reading on June 30, 2023, outlines the principles of basin management according to which the country will be divided into seven river basins, and corresponding basin management plans will be created.
On 18 October, Tamar Sulukhia, Director of the ISET Policy Institute, took part in a panel discussion dedicated to the launch of the Systemic Country Diagnostic (SCD) Update for Georgia during an event organized by the World Bank. The report, entitled “Georgia: Keeping the Reform Momentum”, provides a comprehensive analysis of the developmental challenges and opportunities that the country requires to accelerate progress toward a reduction in poverty alongside shared prosperity in a sustainable manner.
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 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.