Georgia is 7th among 190 states in the World Bank Doing Business 2020 ranking
Georgia retains its place among the world's top ten countries in ease of doing business. Photo: Nino Alavidze/Agenda.ge.
Tweet 
Share
Georgia has ranked 7th among 190 countries in the World Bank Doing Business 2020 ranking, preceding the states like the UK, Norway and Sweden.
Last year Georgia ranked 6th on the list.
For starting a business, for example, Georgia and New Zealand have the lowest number of procedures required, the survey reads, adding that “dealing with construction permits Georgia improved its building quality control by increasing public access to information.”
Chart by the World Bank Doing Business 2020 report.
Georgian Economy Minister Natia Turnava says that the 83.7 score is the “historic maximum” for Georgia.
Georgia remains to be the regional leader for doing business, the first amongst the 23 countries of Europe and Central Asia,”she said.
Doing Business has captured 294 regulatory reforms carried out between May 2018 and May 2019. Worldwide, 115 economies made it easier to do business, the World Bank said.
The World Bank says that its Doing Business project provides “objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.”
By the Wold Bank.
Doing Business ranking was launched in 2002, looking at domestic small and medium-size companies and measuring the regulations applying to them through their life cycle.
Georgia has ranked higher in the most recent survey by the World Bank - Worldwide Governance Indicators (WGI) in terms of anti-corruption activities, government effectiveness and regulatory quality. Tsulukiani stated that in the ranking for regulatory quality, which estimates the reforms carried out by the government for the development of the private sector, Georgia received 83.17 per cent of 100 per cent.
Georgia’s economic freedom score is 75.9, making its economy the 16th freest in the 2019 Index of Economic Freedom by the Heritage Foundation.
Georgia has moved one step forward on the rankings of countries based on the Economic Freedom of the World index published by the Fraser Institute.
Georgia’s reputation as a business friendly country is growing after becoming the 6th best country in the world in terms of economic development and easy of doing business.
Tbilisi has been recognised as the top business friendly destination among 75 European cities in the Economic Potential category, reports Emerging Europe. Emerging Europe invited 70 global experts and foreign direct investment advisors to weigh up the various merits of the 75 cities in the emerging Europe region, which are either national capitals or have a population of more than 200,000 inhabitants.
Georgia ranks high in the region as a good place to do business despite challenges, the 2022 Investment Climate Statements, released by the United States Department of State on Thursday, said.