OECD Investment Policy Reviews: Georgia

image of OECD Investment Policy Reviews: Georgia

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.


Domestic regulatory framework and investor protection

This Chapter focuses on several core investment policy issues – the non-discrimination principle, the degree of openness to foreign investment, protections for investors’ property rights and mechanisms for settling investment disputes – under Georgian law and Georgia’s investment treaties. It also addresses the government’s approach to data protection and cybersecurity. It takes stock of recent achievements, identifies remaining challenges and makes recommendations to address them. In terms of investment treaty policy, this Chapter provides an overview of Georgia’s investment treaties, analyses the main substantive protections and investor-state dispute settlement provisions in these treaties and identifies considerations for possible policy reforms.


This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error