WHY GEORGIA
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Political context
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High standards
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European vocation
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Legislative measures
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Relations with international organizations
AREA OF INTEREST
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Hydropower and renewable energy
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Environment: water supply and treatment; sewerage, waste management and remediation activities
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Plant, machinery and equipment
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Furniture and wood construction
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Agriculture, fisheries and forestry
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Food sector
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Tourism infrastructure, accommodation and catering
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Fashion clothing (including leather and fur)
WHY GEORGIA
Political context
In the current political context, Georgia offers the advantage of being probably the best positioned among the three countries of the South Caucasus to be able to apply to be an ideal base for investments or projects on regional scale (with a potential market of approximately 16 million inhabitants). In fact, it maintains excellent relations with both Armenia and Azerbaijan, while the latter have long suspended between their trade relations because of the frozen conflict “Nagorno-Karabakh”.
High standards
Prospective investors find in Georgia a place that, according to various international rankings, has the highest standards in the area in terms of respect for the law, fight against corruption and adherence to the principles of European integration, having made considerable progress in these areas in the days of the “Rose Revolution” (2003). Georgia occupies the eighth position in the “Ranking on the ease of doing business 2014″ drawn up by the World Bank and the 22nd place in the ranking of ‘”economic freedom” drawn from the “Heritage Foundation”.
European vocation
The Georgian civil society sees in the West an undisputed cultural benchmark even before the political and economic one: more and more widespread is the knowledge of the English language (the study of which is now mandatory from primary school), which is gradually adding to in the role of the Russian language. The language training options in the public schools of Georgia include the study of German, French, Italian, Spanish and Turkish as well.
Legislative measures
In the last few years have been issued legislative measures aimed at the promotion and protection of investments. The reforms in the ultra-liberal direction have sometimes raised questions with respect to their compatibility with the efforts to the regulation required in the negotiations on ‘” Deep and Comprehensive Free Trade Area ” (“DCFTA”) with the European Union signed on 27 June 2014. To complete the picture, applies a legislation particularly inspired by liberalism in customs matters, employment law and tax.
Relations with international organizations
Georgia is part of the World Trade Organization and benefiting from the Generalized System of Preferences “GSP Plus” granted by the European Union. Georgia is part of the countries included in the so-called “Eastern Partnership” between the EU and six countries of the Caucasus and Eastern Europe. The aim of the initiative is to promote a greater level of cooperation between these countries in some sectors (such as infrastructure, economic and trade relations, administrative standards).
On 11 June 2014, the Resident Representative of the International Monetary Fund in Tbilisi, Azim Sadikov, explained to local institutions, the diplomatic bodies and the press ” Regional Economic Outlook ” IMF devoted to the Caucasus and Central Asia.
Once illustrated the global and regional trends, the presentation was dedicated to Georgia. According to the projections of the Fund, in 2014 the gross domestic product of the country is expected to increase by 5%, recording a 3,2% increase compared to 2013. Growth of 5% is expected also for 2015. Russia remains the largest export partners of Georgia, where in 2013 these are more than quadrupled year on year,
mainly due to the gradual opening of the import of Georgian wine, mineral water and fruit and vegetables. This trend continued in the first quarter of 2014, during which the Georgian exports to Russia amounted to USD 87 million (compared to USD 21 million in the same period of 2013). At this juncture, according to Sadikov, the key factor to ensure the growth of the country and the attraction of foreign direct investments, whose influx in Georgia is expected to be boosted by the signing, which took place June 27th 2014 in Brussels, of the Association Agreement (including the “Deep and Comprehensive Free Trade Area”) with the European Union.
[ultimatetables 3 /] *Fonte: Source: Embassy of Italy on data from EIU and IMF
Doing Business Index
2012 | 2013 | 2014 |
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Pos. 183 countries | Pos. 185 countries | Pos. 185 countries | Italy | ||||||||
Position in the overall ranking | 16 | 9 | 8 | 67 |