ISET

ISET Policy Institute started working on the Regulatory Impact Assessment (RIA) on the selected topics under the Draft Law on Insolvency Proceedings. In this project, ISET is partnering with the Berlin Economist, the German consulting group.

The project aims to conduct a RIA in light of 2030 Agenda requirements on following important topics under the draft law on insolvency proceedings:

1. establishment of a new profession of Insolvency Practitioners, their rights, duties and authorization to take insolvency appointments;

2. rights of the creditors under insolvency regimes (including ranking of creditors and pertaining risks);

On 18th of October, ISET Policy Institute together with its partner organizations: Georgian Farmers’ Association (GFA), Civil Development Agency (CiDA), Export Development Association (EDA), and Association Atinati presented a new project: Food and Agriculture SME Support Initiative (FASSI).

The project's main objective is to strengthen the capacity of Business Support Organisations (BSOs) in the food and agriculture sectors so that they may more effectively assist their members to comply with the new regulations and gain access to the EU market.

As a first step towards achieving this goal, ISET PI carried out a needs assessment among 47 BSOs and 114 enterprises and conducted interviews with state entities. The results showed clearly that BSOs need to gain trust among their member companies and potential members. There is a definite need for clear communication, strong organizational structures and extensive knowledge of economic matters, including the DCFTA.

The VET reform assessment was conducted on October 4, 2017. According to the Government Survey, 80% of 2013-2017 Action Plan, and 50% of the entire reform, which is scheduled to last until 2020, has been implemented. The survey also showed how the reform, including launch of the dual education system, which took off in 2013 revamped the whole structure of vocational education system. However, it will be difficult to achieve the desired results without active involvement of the private sector.

The reform was evaluated by the Stakeholder Group with a score of 5.76 out of 10.

Gigla Mikautadze, the manager of ISET’s “ReforMeter” project, was invited by the International Monetary Fund to the annual meetings of the World Bank Group and the IMF which took a place in Washington D.C. October 9-14. The participants of the event discussed the current trends in the global economy, government policies and strategies for poverty reduction. Gigla Mikautadze, within the Civil Society Forum, presented the concept of ReforMeter to civil society activists from 27 countries and answered their questions.

The annual meetings of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the global economic outlook, poverty eradication, economic development, and aid effectiveness.

On September 27, 2017, the first assessment of Pension Reform was conducted, within “ReforMeter”. Based on the Government Survey, 38.8% of the reform is already implemented. At this stage, the reform concept is elaborated and approved by the Government. In October, the draft law will be publicly available. The pension fund functions and obligations are formulated. The regulatory body is defined. Pension system operating rules are designed.

The reform was also evaluated by the reform stakeholders. They underlined that the reform concept was changed many times, and the last version is not still available. Hence, they were not aware of the final concept of the private pension savings (II Pillar) system, as well the indexation mechanisms of social pensions. According to the Ministry of Economy, the draft law on private pension savings will be published the first week of October.

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