Georgia is one of the remarkable examples of business regulation reforms. Georgia is ranked 9th among the world’s 190 countries according to the 15th edition of the World Bank Group’s annual Doing Business report.
Georgia is the easiest place to do business in the emerging Europe and this achievement was recognized at the special anniversary conference — Fifteen Years of Doing Business: Opportunities for Future Directions — held at the Center for Strategic and International Studies on February 22, in Washington, D.C.
Deputy Chief of Mission Mr. George Tsikolia delivered a keynote speech at the Conference and spoke about the success story of Georgia in terms of creating transparent and innovative investment climate in the country.
Mr. Tsikolia’s discussed the Georgian government’s business regulation reforms, fiscal policy and upcoming economic challenges. “Out of top 20 economies, Georgia, with a ranking of 9, has implemented the most business reforms and has become the regional leader, where the phrase ‘ease of doing business’ accurately describes the business climate,” noted George Tsikolia.
The report finds Georgia a top performing economy among the countries of Europe and Central Asia, where it takes two procedures and two days to register a new business, compared with nine procedures and 25 days in 2003.
The participants of the conference praised Georgia’s leading position in Ease of Doing Business that would help the country to attract more foreign investments.
The anniversary conference Fifteen Years of Doing Business reviewed the Doing Business Indicators of the past 15 years and brought together more than 100 business experts, including high-level officials from the World Bank.
