Situated in the western Caucasus, where Europe meets Asia, Georgia shares borders with Turkey, Russia, Azerbaijan and Armenia. Key foreign investors include Russia, Turkey and China.
In 2003 Georgia underwent the Rose Revolution, which opened the country to foreign investment. Economic policy since the Revolution has aimed at diversification and establishing sustainable growth.
Following the collapse of the Soviet Union, the Georgian economy underwent extensive deregulation – Georgia’s electric sector, for example, is entirely in private hands. The privatisation of electricity has led to increased productivity, and Georgia has become a major regional exporter of power.
In recent years, an increase in FDI has spurred development. Georgia enjoys a reputation for openness and has been voted the least corrupt state in the Black Sea region. The World Bank ranks Georgia the 18th best country in the world for ease of doing business.
The country has a large industrial sector, responsible for around a quarter of GDP. The country produces metals, machinery, chemicals, and textiles. Other important sources of revenue include tourism, citrus fruits, tea and grapes.
With one of the most dynamic and progressive accounting and consulting firms operating in Georgia, HLB is poised to give clients a superior service.
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