Bank of Georgia Growth and Reform Strategy

GOVERNMENT'S REFORMS ■ Tax reform Corporate income tax reform Ongoing structural reforms Enhancing easiness of tax compliance ■ Favorable tax rates for SME development Enhance business environment ■ New insolvency law Capital market reform Boosting stock exchange activities Developing of local bond market ■ Pension reform ■ Implementation of private pension system ■ PPP reform Transparent and efficient PPP framework Deposit insurance Boosting private savings Strengthening trust to financial system Responsible lending Decrease household exposure over indebtedness EU-Georgia association agreement agenda Deepening economic and political relations with EU Public investment management framework Improved efficiency of state projects General education reform Maximising quality of teaching in secondary schools Fundamental reform of higher education ■ Based on the comprehensive research of the labor market needs ■ Improvement of vocational education ■ Increase involvement of the private sector in the professional education Promoting transit and tourism hub Development/enhancement of road, rail, air, maritime infrastructure ■ Inclusive government ■ Involvement of the private sector in legislative process Accounting reform ■ Increased transparency and financial accountability Enhanced protection of shareholder rights BANK OF GEORGIA 42

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