Georgia’s reform trajectory has been nothing short of remarkable. In less than two
decades, successive structural, regulatory and economic reforms have propelled Georgia
from one of the poorest post-Soviet states to an upper-middle income economy. Georgia
ranks among the best performers in the world according to international indices on
doing business and openness to foreign investment – achievements many countries look
to for inspiration. Yet in recent years, the Georgian government has reflected on
why these reforms have not facilitated more broad-based economic growth. FDI attraction
has been strong relative to the size of the Georgian economy, but the positive benefits
of investment have not been fully realised. Mobilising investment in sectors that
can enhance job creation, exports and productivity will be key for Georgia’s recovery
from the COVID-19 pandemic. This Investment Policy Review takes stock of recent achievements
in improving the investment climate and assesses areas for the government to consider
in strengthening its reform efforts to attract FDI that can have a positive impact
on inclusive, sustainable growth.
OECD Investment Policy Reviews present an overview of investment trends and policies in the countries reviewed. This can include investment policy, investment promotion and facilitation, competition, trade, taxation, corporate governance, finance, infrastructure, developing human resources, policies to promote responsible business conduct, investment in support of green growth, and broader issues of public governance.