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Georgia’s Insolvency law of 2007 is primarily oriented towards a rapid liquidation of insolvent corporate entities and private entrepreneurs’ businesses with subsequent distribution of remaining assets amongst the creditors. The number of insolvency cases dealt with by the local courts of Tbilisi and Kutaisi is fairly limited most probably due to insufficient assets in the insolvent entities to cover the costs of the insolvency procedure. The law is relatively short and leaves relevant aspects of insolvency procedures either unclear or unregulated. Areas with significant shortcomings and deficiencies are e.g. regulations on avoidance of transactions concluded prior to insolvency, the monopolistic position of the National Enforcement Bureau as trustee, the Conciliation Council, the rehabilitation procedure, the role and function of Insolvency Office Holders, the ranking of claims in the distribution process etc.
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Although the mining sector of Georgia only accounts for a small share of GDP, around one quarter of Georgia’s total exports are related to mining activities. Increased use of Georgia’s natural resources thus has the potential to benefit the economic development of the country as well as to contribute to public finances.
How can regulation be improved to strengthen the economic gains and public revenues from the mining sector? The current regulation creates unnecessary obstacles to investment in mining. These deter investors from increasing activities in Georgia, leading to less economic growth of Georgia in mining and related industries as well as smaller public revenues from a sector that generally is highly interesting from a perspective of creating tax and other public income.
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Aiming to contextualize the challenges and opportunities faced by Georgian trout farmers, the ISET Policy Institute, in cooperation with CARE international and the Georgian Farmers Association (GFA) organized a trout sector stakeholders’ forum in Kutaisi on December 4th, 2015. The forum focused on the industry’s dynamics regarding input suppliers, farmers, cooperatives, market intermediaries, consumers, and exporters with the overall goals of improving productivity in the sector, connecting farmers with new business opportunities (by product and market diversification), exploring export markets, and developing and managing the Georgian trout sector.
Attending the forum were representatives of international and domestic agricultural organizations, the ministry of Agriculture’s regional information and consulting centers, local government officials, and several stakeholders from the private sector.
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