The role of state regulation of investment in the Georgia business development

Shengelia, Temur (2017) The role of state regulation of investment in the Georgia business development. In: International business in the world economic system. Universal, Tbilisi. ISBN 9789941175986

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Abstract

Paper encompasses a wide range and informative materials to demonstrate that for the improvement of the economic and social state of transitional countries institutional reforms has great importance because successful institutional reforms encourage investment flow. The only way to overcome unemployment and poverty is significant economic growth that can be achieved b the implementation of institutional reforms and increase of investment activity. From this point of view the possibilities from local funds in transitional countries, particularly in Georgia, are small. That is why the main priority is to attract foreign investments. But these actions are based on important institutional changes. Paper gives a clear picture of Georgian economy and fields where foreign direct investments are made to illustrate how institutional reforms can create attractive business environment and support to economic growth. Paper overviews the reasons of making investments in Georgia, main tendencies of FDI to Georgia. Paper emphasizes the following reasons why Georgia remains the attractive country for foreign investors: adequate institutional reforms and free market oriented economic policy, attractive macroeconomic environment, competitive trade regulations, liberal tax code, aggressive privatization policy, modernized business licensing system, adequate technical regulation system, strategic geographic location, competitive and dynamic banking sector, a country of ancient culture and traditions, milestones in Georgia's transformation to a market economy, diverse investments sectors. Paper argues that despite the current global financial crises and Russian –Georgia War in 2008 Georgia remains attractive place for investments because of successfully implemented institutional reforms.

Item Type: Book Section
Uncontrolled Keywords: investment activities, problems of evaluation of effectiveness of investments, Georgian government policy, function of the investment agency, investments’ market
Subjects: General Works
Divisions: Ivane Javakhishvili Tbilisi State University > Faculty of Economic and Business
Depositing User: თამარ ბაგრატიონი
Date Deposited: 22 Feb 2018 05:47
Last Modified: 22 Feb 2018 05:47
URI: http://eprints.tsu.ge/id/eprint/502

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