The U.S. Department of State made clear in its recent Global Investment Report what many investors and business leaders already know: Georgia is on the move after making “sweeping economic reforms.” The result of these reforms has resulted in a surge in its global performance, ranked 7th for ease of doing business by the World Bank and 12th on the Economic Freedom Index issued by the Heritage Foundation.
The Report praises Georgia’s “Georgia 2020” economic blueprint strategy developed in 2014 by the current government that remains the economic roadmap for Georgia’s growing vitality as a regional trade and logistics hub that links Europe and Asia. The report also cited Georgia’s total commitment to open markets, the rule of law, business-friendly policies, and sound investment climate.
Georgia has not only established its credentials as a regional trade hub, but the State Department report underscores a less known but vital sector that is booming: the banking industry. A strong, well-regulated banking system is a boon to small and medium-size business entrepreneurs and international investors alike.
Georgia has also been separately cited for its strong response to the COVID-19 that is allowing the country to methodically reopen to travel and business activity.