Many of the economies that are simultaneously the most successful and the most egalitarian are marked by having apprenticeship-style vocational education and training (VET). Georgia is currently undergoing a VET reform to emulate these successes, trying to integrate the views of public, private, and social actors, based on the principle of solidarity. Yet, as this paper will argue, progress is hindered by a peculiar mix of Soviet era and neo-liberal legacies that has shaped a unidimensional human capital approach. To remedy this shortcoming and create a system that helps the country to not just achieve economic growth, but also social well-being, the paper proposes a Social Return on Investment (SROI) framework derived from the human capabilities approach of Sen and Nussbaum. Stakeholder interviews are analyzed through this framework to build a narrative towards more inclusive and sustainable social and economic development in the country.