Doing Business with Georgia

Basic data
Capital Tbilisi
Population 3.69 million (as of 1/1/2022)
Language Georgian
Religion orthodoxy
State system republic
Head of State Salome Zourabishvili (Zourabishvili)
Head of government Irakli Garibashvili (Garibashvili)
Currency name Lari (GEL)
Time shift +2/+3
Economy 2021
Nominal GDP (billion USD) 62.6
Economic growth (%) 10.6
Inflation (%) 13.9
Unemployment (%) 20.6

Georgia, together with Armenia and Azerbaijan, lies in the South Caucasus region, at the crossroads of Western Asia and Eastern Europe. Georgia is a parliamentary democracy headed by a president. Executive power is in the hands of the government, headed by a prime minister appointed by the president. The body of legislative power is a unicameral parliament, deputies are elected for a four-year term based on a mixed electoral system (120 deputies elected by proportional system and 30 by majority system according to the candidates of political parties and blocs in individual constituencies). Based on the electoral reform, in the next parliamentary elections (in 2024) all deputies should already be elected by a proportional system. Although the Georgian government has taken some major reform steps in the judiciary in recent years, full independence has not yet been achieved. Courts are distrusted by citizens, and the judicial system is widely perceived as a narrow group of influential judges, referred to by the term “clan”. The country’s national priorities include Euro-Atlantic integration.

Although prone to global and regional shocks, Georgia is now a relatively well-functioning and stable market economy thanks to extensive economic reforms. In 2020, it ranked 7th in the World Bank’s “Ease of Doing Business” index, 12th in the Heritage Foundation’s Index of Economic Freedom. According to the World Bank, Georgia has the third lowest overall tax rates in the world. Since 2017, Georgia’s economy has grown steadily in the range of 4.8-5.1% of GDP per year. Due to the lack of jobs, more than 40% of the population continues to work in low-performing agriculture. Tourism is an important source of income. Georgia’s exports, which are relatively small and undiversified, underscore the country’s incomplete structural transformation. The three most important trade partners of Georgia are China, Russia and Turkey. Georgia is a net recipient of development aid and a priority country for the Czech Republic’s foreign development cooperation. According to the volume of mutual trade, in recent years Georgia has been in the 71st-75th place in the foreign trade of the Czech Republic. Thanks to consistently significantly higher Czech exports, the mutual balance is positive. Opportunities for Czech companies are offered by healthcare, the transport industry and infrastructure, the agricultural and food industry, the defense industry and entertainment and leisure.

As a result of the Covid-19 pandemic in 2020, the Georgian economy slowed down, foreign trade and foreign direct investment decreased. On the contrary, internal and external debt and unemployment increased. Remittances also rose, driven by increased use of bank transfers due to travel restrictions. During 2021, Georgia began to recover from the effects of the pandemic, GDP and foreign trade increased, inflation reached a record level. Foreign investment continued to stagnate, and the recovery of tourism to pre-pandemic levels can only be expected in 2023.



Practical telephone numbers (emergency services, police, firemen, information lines, etc.)

  • Emergency line (police, first aid, fire brigade): 112
  • MediClub Georgia (recommended private clinic), Tashkent st, Tbilisi, +995 322 251 991

Important web links and contacts

News, TV, Radio (State Information Agency of Abkhazia)

State institutions (websites of ministries are listed in section 1.1)

Business, economics, statistics, consulting – Georgia National Investment and Export Promotion Agency) (Chamber of Commerce) (America – Georgia Business Council) (American Chamber of Commerce in Georgia) (fairs) (Tbilisi Business Service Centre) Caspian) (EU-Georgia Business Council) (European Business Association) (Georgian State Electrosystem (Georgian National Electricity Regulatory Commission)

www// (Georgian National Tourism Administration) (Georgian National Communications Commission) (mobile operator Magti) (mobile operator Geocell) (Georgian Oil & Gas Corporation) (Business support, export promotion and investment in Georgia supporting state organization) (State-owned investment fund)

Miscellaneous information


PaulSourcing: Ten Commandments for Doing Business with Georgia

The PaulSourcing agency has prepared ten recommendations for doing business with Georgia for Czech entrepreneurs interested in business relations with Georgia.

The Ten Commandments for Doing Business with Georgia below

4 recommendations for entering the Georgian market during the coronavirus pandemic situation:

  1. Getting to know the territory First of all, you need to get to know the country, for example through the current information provided on the czportal. Here, exporters will learn the current economic information, but also other facts that are needed for a successful entry into the Georgian market.
  2. Selecting and approaching business partners PaulSourcing’s foreign office in Baku (ZK) finds partners that best match the interests of the foreign office’s clients, and therefore it is necessary for companies to inform ZK about their production, about the target group, and also to send the so-called top 5 facts that differentiate them from the competition. On the basis of this information, ZK prepares a so-called “longlist” to measure, which it sends to the client. Together, they will then choose three to five most suitable companies, which ZK will approach and, above all, specify the contacts, find out the current state of these companies, and ask them to meet at least via Skype or another application.
  3. Introductory meeting In the third step, ZK arranges a Skype or e.g. ZOOM meeting between partner and client. This is successful for about 60% of verified partners. There is great interest in this method of communication from both sides, as companies and partners will clarify the next procedure and, in the event of the impossibility of continuing further communication with the ZK client, the interest partners will be specified and thus the client’s financial resources will be saved upon arrival in Georgia. Arranged meetings will already be held with those partners that the client has chosen and, based on preliminary interviews, is interested in meeting.
  4. Visibility and participation in events

    Another supporting element that ZK offers clients is, for example, visibility on the website of the PaulSourcing Baku foreign office, where subscribers can learn more about clients.ZK also offers the opportunity to participate in events that it organizes in cooperation with individual state administration bodies. These are mainly events of a B2B nature, which, thanks to the project concept, help to open doors in the field of state administration and self-government. PaulSourcing also organizes B2G meetings in order to expand the possibility of application for some clients. Some segments cannot be completed without the opportunity to meet with representatives of the local state administration and self-government.

Coronavirus – What is the situation in the world? Current situation in Georgia

The Ten Commandments for Trading with Georgia

  1. Communicate in Russian or English Russian or English is the language of communication with foreigners. Older people prefer Russian, while young people prefer English. In larger companies, however, it is not a problem to communicate in both languages.
  2. Reciprocate an invitation to a restaurant . Georgians are very hospitable and pleasant companions. It is recommended to reciprocate an invitation to a restaurant, either in Georgia or in the Czech Republic, if you invite your partner to the Czech Republic. In informal meetings, it is often easier to achieve the expected result.
  3. Be punctual Come to the meeting on time, it will be appreciated, even if the partner normally tolerates minor lateness, which may be caused by, for example, the traffic situation. In such a case, however, it is advisable to call your partner and apologize in advance for the delay.
  4. Start the meeting informally We recommend starting the meeting informally, asking about health, family, etc., and only later moving on to the subject of the meeting. Discussing business matters immediately could be considered impolite.
  5. Avoid political topics Avoid discussing political issues related to Abkhazia and Ossetia, as this is a very sensitive topic for Georgians. However, if the partner himself introduces the issue, then it is possible to have a completely open discussion with him. As Orthodox, Georgians are very proud of their church and the majority of the population, including young people, are religiously based, so we do not recommend underestimating the work of the church in any way. Georgians are very tolerant of other world religions.
  6. Use a local intermediary It pays to use the services of a local partner with whom you also maintain informal contacts. It will help you establish relationships with other possible partners that you would not otherwise have known about.
  7. Dress formally for meetings Dress formally for meetings with representatives of the state administration or company leaders, you can dress less formally for meetings with business partners, especially in the summer.
  8. Respond promptly Prepare well for the meeting. Your business partner will appreciate the ability to respond immediately to questions. If you had to consult some questions with the management of your company, they would consider you a person with whom important points of the contract cannot be discussed.
  9. Be patient In Georgia, there are big differences between the capital and the regions. While the rules experienced in Europe mostly apply in big cities, life in the regions is slower. You can arrange a meeting by e-mail or by phone, but if you have not yet met the Georgian partner and he does not know your company, it is better if the Georgian partner or the Czech Embassy in Tbilisi or the foreign office of PaulSourcing based in Baku, which closely cooperates with local advisor.
  10. Inform yourself about the current situation in the country Before your first visit to Georgia, we always recommend contacting the Czech Embassy in Tbilisi or PaulSourcing’s foreign office in Baku, which are able to provide up-to-date information on political and economic events in the country.


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