ReformVerdict: Stage 2 - Phase 2

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The ReformVerdict includes the following reforms assessed by ReforMeter: Insolvency Reform, Regulatory Impact Assessment (RIA) Institutionalization Reform, Water Resources Management Reform, E-Commerce Reform, Tourism Reform, Capital Market Development Reform. Overall score of the reforms is 7.08, showing strong performance. As illustrated below, three assessment dimensions, Content and Adequacy, Progress and Expected Outcome were evaluated with strong performance, while the Current Performance was assessed as moderate.

ReformVerdict History

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Reform	Government	Stakeholder	Summary
E-commerce Reform	57.5	6.95	The second public-private dialogue of the E-commerce Reform was conducted on June 14, 2023. Attendees discussed the significance of the E-commerce reform in Georgia, the direction of consumer rights protection, and the main findings of the Cost-Benefit Analysis (CBA) on the E-commerce Legal Framework.
Insolvency Reform	0.0	8.18	The second assessment of the Insolvency Reform was conducted on December 20, 2022. Public-private dialogue attendees shared their perspectives on the significance of the Insolvency Reform and suggested possible improvements to the current state of its implementation.
Water Resource Management Reform	40.4	6.55	The second public-private diologue of the Water Resource Management Reform was conducted on June 27, 2023. The event provided a valuable opportunity for both the public sector and private stakeholders to gain insights into and evaluate the progress made in implementing the water resource management reform. During the meeting, private stakeholders actively participated in discussions with representatives from the public sector and presented their evaluations of the ongoing and planned activities related to the reform.
RIA Institutionalization Reform	62.5	7.53	On October 26, 2023, "ReforMeter" hosted the second Public-Private Dialogue (PPD) on the Regulatory Impact Assessment (RIA) Institutionalization reform. The event brought together stakeholders from government agencies, civil society organizations, and individual RIA experts. Participants reviewed the progress of the RIA reform and discussed strategies to address challenges within the reform field.
Capital Market Development Reform	35.9	6.0	Second assessment of the Capital Market Development Reform was conducted on December 20, 2023. Attendees of the public-private dialogue discussed the main activities planned within the Capital Market Development Strategy 2023-2028 and action plan for 2023-2024. The stakeholders engaged in a discussion about the objectives of the strategy and the ways to achieve them.

Government Survey Methodology

Governmental surveys evaluate progress in reform implementation across four domains:

the legal framework;
infrastructure and budget;
institutional setup;
and capacity development.

This survey measures the government’s distance from the stated reform objectives on a scale of 0% (no action has taken place) to 100% (all the desired systems have been fully implemented, monitored, and evaluated)

Stakeholder Survey Methodology

Stakeholder surveys assess reform progress across four dimensions:

reform content and adequacy;
current performance;
reform progress;
and the expected outcomes.

Members of the stakeholder group (excluding implementing governmental stakeholders) set scores on a scale of 1 (poor performance) to 10 (strong performance) for each dimension.