Doing Business 2018 published its report on the Ease of Doing Business in different countries around the world. According to the report, Georgia is in 9th place among 190 countries.
Georgia improved its position by seven places and made it past countries such as Sweden, Macedonia, Estonia, Finland, Australia, Taiwan, and Latvia.
Georgia’s score got better in six indicators, whereas in four indicators it’s score is unchanged. According to the 2018 report Georgia didn’t have any worsening point in any of the indicators.
The Doing Business project is funded by the World Bank and provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.
Georgia’s scores in the 2018 report look as follows:
- Starting a Business - 97.83
- Dealing with Construction Permits - 77.55
- Getting Electricity - 83.77
- Registering Property - 92.85
- Getting Credit - 85.00
- Protecting Minority Investors - 76.67
- Paying Taxes - 87.10
- Trading across Borders - 82.43
- Enforcing Contracts - 75.97
- Resolving Insolvency - 40.02
According to Doing Business, several reforms resulted in Georgia’s advancement on the list, such as:
- Getting Electricity: Georgia made getting electricity more affordable by reducing the connection costs for new customers.
- Protecting Minority Investors: Georgia strengthened minority investor protections by making it easier to sue directors in cases of prejudicial transactions between interested parties, by increasing shareholder rights and role in major corporate decisions and clarifying ownership and control structures.
- Resolving Insolvency: Georgia made resolving insolvency easier by making insolvency proceedings more accessible for debtors and creditors, improving provisions on treatment of contracts during insolvency and granting creditors greater participation in important decisions during the proceedings.
Top 10 countries in terms of ease of doing business:
- New Zealand
- Singapore
- Denmark
- Korea
- Hong-Kong (China)
- USA
- United Kingdom
- Norway
- Georgia
- Sweden
In all 10 indicators Georgia has implemented 47 reforms since 2004, which makes the country the leader in the field of making reforms among the top 20 countries on the list.