Georgia is a small, upper-middle-income country in the South Caucasus, connecting Europe to the Middle East and Central Asia. Since independence in 1991, the ensuing civil war and territorial disputes have made the transition to a market economy particularly challenging. Even so, Georgia is now one of the most open and easiest places to do business in the sub-region, with sustained albeit volatile growth. To continue to sustain growth and benefit from its manifold opportunities, however, Georgia needs to make better and systematic use of its potential, moving from a model of filling essential gaps to one based on broader experimentation with new and better ideas, business models, technology and governance arrangements.

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