Foreigners may not own agricultural land. The main problems for business relate to a bureaucracy which continues the old ways and a judiciary which is subject to pressures of various sorts. Privatization is a major element of Georgia's reform program and most small businesses are now in private hands. Among medium and large state enterprises, most have been set up as joint stock companies and a large number have been privatized. Communications, especially telecommunications, is a sector in which Georgia lags.
Costs are high, lines are poor and in short supply.
Domestic postal services are virtually non-existent and international services are slow. Bureaucracy restricts the development of private services in both postal and telecommunications services. Developments in Georgia's Banking System At the beginning of the 90's the banking system was in chaos. Some promised high returns, accepted deposits and then disappeared. The state-owned savings bank went out of business.