[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108787-en":3,"doc-seo-108787-105":30,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},108787,687197207057,"Sage","https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0",8,"Research & Report","COUNTRY PRIVATE SECTOR DIAGNOSTIC - CREATING MARKETS IN GEORGIA - Unlocking Private Sector Opportunities to Achieve Georgia’s Full Potential","The Georgia Country Private Sector Diagnostic (CPSD) report provides a unified analytical platform for policymakers, the private sector, and World Bank Group institutions to identify development-oriented opportunities. It outlines how to expand private sector activity, remove cross-cutting and sector-specific constraints, and unlock investment potential through targeted recommendations. The document describes the state of Georgia’s private sector, diagnoses binding growth constraints, evaluates digital businesses with emphasis on fintech, and assesses priority sectors using qualitative and quantitative criteria.","Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized  \nPublic  \nCOUNTRY PRIVATE SECTOR DIAGNOSTIC  \nCREATING MARKETS IN GEORGIA  \nUnlocking Private Sector Opportunities to Achieve Georgia’s Full Potential  \nDecember 2023  \nAbout IFC  \nIFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, [visit www.ifc.org](visit www.ifc.org).  \nFor more information, [visit www.ifc.org](visit www.ifc.org).  \n© International Finance Corporation 2023. All rights reserved.  \n2121 Pennsylvania Avenue, N.W.  \nWashington, D.C. 20433 [www.ifc.org](www.ifc.org)  \nThe material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon. The findings, interpretations, views, and conclusions expressed herein are those of the authors and do not necessarily reflect the views of the Executive Directors of the International Finance Corporation or of the International Bank for Reconstruction and Development (the World Bank) or the governments they represent.  \nCover Photos: Cover page, Gladskikh Tatiana/Shutterstock  \nCONTENTS  \nABSTRACT V  \nACKNOWLEDGEMENTS VI  \nABBREVIATIONS AND ACRONYMS VII  \nEXECUTIVE SUMMARY XI  \n1 COUNTRY CONTEXT AND THE STATE OF GEORGIA’S PRIVATE SECTOR 1  \n1.1 Firm Characteristics and Dynamics 3  \n1.2 Export Performance: Challenge of Diversification and Integration into Global Value Chains 7  \n2 CROSS-CUTTING CONSTRAINTS TO PRIVATE SECTOR GROWTH 15  \n2.1 Competition Environment Weaknesses and Market Distortions 15  \n2.2 Labor Market Challenges and Skills Gap 20  \n2.3 Slow Pace of Private Sector Digital Transformation 24  \n3 DIGITAL BUSINESSES ASA STRATEGIC TOOL FOR DRIVING  \nECONOMYWIDE PRODUCTIVITY AND COMPETITIVENESS 25  \n3.1 Introduction and Rationale 25  \n3.2 State of the Digital Business Ecosystem in Georgia 28  \n3.3 Trends across Digital Business Subsectors 31  \n3.4 Key Constraints to Digital Business Growth in Georgia 34  \n3.5 Regulatory Constraints in Select Digital Business Subsectors 41  \n3.6 Summary Recommendations 49  \n3.7 Investment Opportunities and Considerations 51  \n4 CPSD SECTOR ASSESSMENTS 53  \n4.1 Renewable Energy 53  \n4.2 Transport and Logistics 73  \nAPPENDIX 89  \nAppendix A: Climate Change Laws in Georgia 89  \nGeorgia’s European Union Climate Change-Related Accessions 89  \nGeorgia’s EU Accession Commitments with Relation to Energy Policy 89  \nGeorgia’s UN/UNFCCC Commitments with Relation to Climate Change 90  \nGeorgia’s National Climate Strategy and Action Plan 90  \nAppendix B: Disruptive Digital Technologies 93  \nAppendix C: Digital Business Database Methodology 97  \nAbout the Database 97  \nAppendix D: Examples for Sectoral Digitalization Deep-Dives 99  \nExample Digitalization Deep-Dive for Tourism 99  \nAppendix E: Status of The Open Banking Implementation in Georgia 100  \nAppendix F: Regional Comparisons in FinTech and Open Banking 101  \nAppendix G: Open Banking Services and Prerequisites 103  \nAppendix H: Results of Survey on Renewable Energy in Georgia 104  \nFramework of Risk Categories and Factors 104  \nAppendix I: Summary Table","cbCaiuuAo8sHfRmp","https://ap.wps.com/l/cbCaiuuAo8sHfRmp","pdf",5708253,5,1,147,"English","en",105,"# Executive Summary\n## Country Context and State of Georgia’s Private Sector\n## Cross-Cutting Constraints to Private Sector Growth\n## Digital Businesses as a Strategic Tool\n## CPSD Sector Assessments\n## Appendix A: Climate Change Laws in Georgia\n## Appendix B: Disruptive Digital Technologies\n## Appendix C: Digital Business Database Methodology\n## Appendix D: Examples for Sectoral Digitalization Deep-Dives\n## Appendix E: Status of The Open Banking Implementation in Georgia\n## Appendix F: Regional Comparisons in FinTech and Open Banking\n## Appendix G: Open Banking Services and Prerequisites\n## Appendix H: Results of Survey on Renewable Energy in Georgia\n## Appendix I: Summary Table of Transport and Logistics Policy Recommendations","[{\"question\":\"What is the purpose of the Georgia CPSD report?\",\"answer\":\"The report delivers a comprehensive overview and a common platform to help policymakers and private stakeholders expand private sector activity, address constraints, and attract investment aligned with development objectives.\"},{\"question\":\"How does the report structure its analysis of Georgia’s private sector?\",\"answer\":\"It reviews country context and firm dynamics, identifies cross-cutting binding constraints, analyzes digital businesses with a focus on fintech, and then assesses selected sectors using qualitative and quantitative criteria.\"},{\"question\":\"What kinds of recommendations does the CPSD include?\",\"answer\":\"The report provides specific recommendations to unlock private sector expansion and highlights opportunities for transformative development impact, supported by sector analyses and supporting appendix 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