This Law establishes the general principles and rules for granting concessions to foreign investors for the exploitation of natural resources and related business on the territory of Georgia. A concession shall mean a long-term lease between the State and concession recipient for foreign investment, exploitation of natural resources and related businesses. Concession agreements may grant the right to explore, process or exploit Georgian natural resources, and/or to conduct business, scientific, technological or exploitation activities on the national territory. Georgian legislation shall specify the places, facilities, fields and types of business that shall be limited or prohibited. Concession agreements shall include: (a) parties; (b) terms of effect and concession fees; (c) subject of concession; (d) restrictions and conditions, including environment requirements; (e) terms for operation of the enterprise; and (f) general plan for the treatment of natural resources.
Georgia · 1996-09-19