Georgia

Georgia is located between Asia and Europe and occupies a land area of 69,700 square kilometres, bordered by the Black Sea to the west, Turkey to the southwest, Azerbaijan to the east, Russia to the north, and Armenia to the south.

Georgia declared independence on 9 April 1991, following the dissolution of the Soviet Union. Georgia is divided into nine regions and two autonomous republics. The population of Georgia is estimated to be 3.7 million, 1.3 million of whom live in the capital city, Tbilisi. Georgia's currency is the Georgian lari (GEL).

Georgia is a democratic, semi-presidential republic with a President as its Head of State. In 2013, the second Presidential term for Mikheil Saakashvili expired, and a new President, Giorgi Margvelashvili, was sworn in on 17 November 2013. The latter was replaced by the first female president in Georgia's history on 28 November 2018.

Following the Rose Revolution of 2003, Georgia has undertaken a series of progressive reforms, including anti-corruption efforts, reforms of labour and tax codes, and improvements to the essential infrastructure of the country. The reforms to the Georgian economy have resulted in a great flow of foreign direct investment and positive gross domestic product (GDP) growth.

Georgia's main economic activities include agricultural cultivation of citrus fruits, tea, grapes, and hazelnuts. Georgia also has a manganese and copper mining industry. Industries present in Georgia include aircraft manufacturing, bottled water and wine production, chemicals, electric motors, electric welding equipment, fuel re-export, foundry equipment (automobiles, trucks, tractors), machine tools, machinery for food packing, tower cranes, wood products, steel, shoes, and textiles.

Georgia imports nearly all its natural gas and oil products. The largest energy producing source is hydropower. Currently, Georgia is privatising the energy sector. It is believed that long-term growth will stem from Georgia's role as a transit state for oil and gas pipelines. Three pipelines currently exist, the Baku-Supsa pipeline (GPC-Georgian Pipeline Company), the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, and the South Caucasus Pipeline (SCP) System.

PwC has been serving clients in Georgia since 1996 and opened an office in Tbilisi in July 2005 that now employs almost 150 professional staff. The client portfolio of the Georgian practice includes banks, large multinational organisations, donor-funded projects, and large Georgian enterprises.