Issue 6, 2017. December-January



Georgia has been named the ninth country in the world for ease of doing business, according to the World Bank Group's annual Doing Business Report.

The report ranks 190 countries on a variety of issues that affect opening, running and closing a business.

Georgia improved its score, and was a top performer among European and Central Asian countries. Today it is ranked above Sweden and just below Norway.

The report noted Georgia's progress in five areas:

- Starting business: 4th place (8th in 2017)
- Getting electricity: 30th place (39th in 2017)
- Protecting minority investors: 2nd place (7th in 2017)
- Enforcing contracts: 7th place (16th in 2017)
- Resolving insolvency: 57th place (106th in 2017)

"With tangible reforms implemented in three key areas this year-making electricity more affordable, strengthening minority investor protections, and making resolving insolvency easier-Georgia continues to be a top reformer in the Europe and Central Asia region, and is poised to accelerate inclusive and sustainable growth," Mercy Tembon, World Bank Regional Director for the South Caucasus, said in a press conference about the report.

Georgian Minister of Economy Giorgi Gakharia said the country has become a regional leader, the report said.

"Georgia has become the regional leader, where the phrase 'ease of doing business' is realistic and accurately reflects the business climate in our country. The Doing Business report is one of the most prestigious rating systems, and seeing Georgia among its top ten countries is a great incentive for international business circles to direct their vectors and investments towards Georgia," Gakharia said.