dination of implementation activities, solicitation of donor funds and resources to support reform, coordination of related initiatives, and regular reporting on progress to the Commission.
В· A consultative committee. The committee should provide a mechanism for regular consultation with a broad group of stakeholders on various reform initiatives.
The above - mentioned Action Plan should be utilized to document the agreed-upon changes, establish priorities and timeline, provide a basis for accountability, and keep an ongoing record of progress. Therefore, it must be emphasized that the Action Plan is not a static document but one that must evolve over time.
Law of Georgia "On Investment Activity Promotion and Guarantees" . On 12 November 1996 the Parliament of Georgia adopted the law of Georgia "On Investment Activity Promotion and Guarantees ", which replaced the Law of the Republic of Georgia "On Investment Activity" adopted on 10 August 1991 and the Law of the Republic of Georgia "On Foreign Investments" adopted on 30 June 1995.
The Law defines the legal bases for realizing both foreign and local investments and their protection guarantees on the territory of Georgia. The purpose of the Law is to establish the investment-promotional regime in Georgia.
Investments . Investments shall be deemed to be all types of property and intellectual valuables or rights invested and applied for gaining possible profit in the investment activity carried out in the territory of Georgia, such as:
a) Monetary assets, a share, stocks and other securities;
b) Movable and immovable property (real estate) - land, buildings, structures, equipment and other material valuables;
c) Lease rights to land and the use of natural resources (including concession), patents, licenses, know-how, experience and other intellectual valuables;
d) Other property or intellectual valuables or rights provided for by the law.
Investor . An investor shall be deemed to be a physical (individual) or legal person, as well as an international organization investing in Georgia. A foreign investor shall be deemed to be:
a) A foreign citizen;
b) A stateless person temporarily residing on the territory of Georgia;
c) A Georgian citizen permanently residing abroad;
d) A legal person registered beyond Georgia.
An enterprise with a foreign investment of not less than 25% shall enjoy the same rights as the foreign investor.
1.3.2 Foreign Investment Advisory Council (FIAC)
In order to assist foreign investment inflow into Georgia, improve investment climate in the country and support private sector d...
