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Law of Georgia on Promotion and Guarantees of Investment Activity (No. 473-IS of 1996)

Country/Territory
Georgia
Document type
Legislation
Date
1996 (2019)
Source
FAO, FAOLEX
Original source
240.080.000.05.001.000.178
Subject
Agricultural & rural development, Environment gen., General
Keyword
Financial agricultural measures Protection of environment Agricultural development Public health Business/industry/corporations Hazardous substances Radiation Hazardous waste International trade Transport/storage Research Oil pollution Nuclear energy
Geographical area
Asia, Black Sea, Eastern Europe, Europe, Europe and Central Asia, Western Asia
Abstract

This Law determines legal grounds for the implementation of both foreign and local investments in the territory of Georgia and guarantees for their protection. This Law is intended to define a legal order to promote investments. According to the Law, investors shall be obligated to carry out activities according to the legislation of Georgia, including the legislation related to environment and health protection. It shall be prohibited to invest in a) development, production and distribution of nuclear, bacteriological and chemical weapons; b) construction of polygons for testing nuclear, bacteriological and chemical weapons; c) import of nuclear and hazardous waste from foreign countries for recovery and disposal; d) research works related to human cloning; e) production of narcotic drugs; f) cultivation of soporific poppies, coca bushes and cannabis plants; g) activities prohibited by the international agreements of Georgia; h) the import or sale of leaded petrol (over 0.013 grams per litre), tetraethyl lead, as well as falsified (non-standard) domestic liquefied gas (investing in import of tetraethyl lead shall be permitted only in necessary cases allowed by production technology). The Law is divided into 17 articles.

Full text
English/Georgian
Website
matsne.gov.ge