New law will strengthen investment protection in Georgia

Specialised commercial chambers will be created in Georgia to make the business dispute resolution process easier. Photo by N. Alavidze/, 25 Nov 2016 - 16:40, Tbilisi,Georgia

Georgia is taking steps to develop its investment and business environment by improving legislation to better protect those who invest and do business in the country.

The Government of Georgia decided to strengthen the legal framework to better protect investments by creating a new law.

This was planned within the the 2016-2020 Governmental program.

The new law would meet modern requirements and challenges and support local and foreign investors in Georgia.

The main goal of the new law was to maintain the current liberal and preferential environment for investors so they can continue planning and operating their businesses.

Georgia has already gained the reputation of a business friendly country. The country received top marks from the World Bank in its latest Doing Business Index.

The Doing Business Index is a World Bank Group flagship report that investigates the regulations that enhance business activities and those that constrain it. The latest report showed Georgia was among the top global improvers for implementing business friendly reforms.

Georgia improved its position by seven points – from 23rd to 16th - in the Doing Business 2017: Equal Opportunity for All report, released yesterday.