Geo tr/inv/agr.

completed

The WBG will implement the Project over three years in cooperation with the GoG. The Project team will cooperate with the Ministry of Economy and Sustainable Development (MESD), Ministry of Agriculture (MoA), and Business Ombudsman's Office (BOO). The team will build on the work of the previous WB Facility for Investment Climate Advisory Services (FIAS) and BP-funded investment climate project, which built strong cooperative relationships with GoG representatives. 1. Investment Policy The Project will assist the MESD and the BOO to accomplish the objectives set out below. A. Develop Strategic Vision and Roadmap The Project team will assist the GoG to formulate an appropriate strategic vision for investment attraction and retention, providing guidance and ensuring proper alignment of investment policies with the specific requirements of export-oriented, efficiency-seeking investors. B. Align Incentives Policies with Strategic Objectives The Project will help the GoG to assess its current incentives policies to attract FDI. A review incorporating impact assessment methodologies, case studies and knowledge of international good practice will provide the basis for concrete reform options and recommendations to better align Georgia's incentives with its strategic objectives for FDI attraction. C. Strengthen Investor Protection and Confidence The Project will provide support to further strengthen Georgia's existing mechanism for handling investor grievances under the BOO. The BOO administers a relatively well-functioning mechanism to manage grievances and prevent costly investor-state disputes; however, this mechanism should be strengthened in specific areas to bring it in line with global best practices and enhance its operational effectiveness, particularly as regards enforcement. 2. Trade Facilitation In the area of trade facilitation, the Project will carry out the following activities supporting implementation of the TFA and compliance with the CVA. The Project will support Georgia?s Revenue Service (RS) with implementation of selected elements of the TFA related to risk management, authorized economic operators (AEOs) and a national trade facilitation committee. The Project team will provide technical assistance to the RS in respect of the review and revision of customs valuation procedures and systems to enable the RS to comply with the CVA.