OECD official: Georgia’s recent “success” due to “consistent policy” of state agencies
William Tompson, the Head of the Eurasia Division in the Organisation for Economic Co-operation and Development’s Global Relations Secretariat. Photo: Ministry of Economy
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William Tompson, the Head of the Eurasia Division in the Organisation for Economic Co-operation and Development’s Global Relations Secretariat, on Thursday said Georgia had experienced “huge success” after 2020 due to a “consistent policy” of its state agencies.
Tompson commented on the latest Small and Medium-Sized Enterprises Policy Index involving the European Union’s Eastern Partnership countries, where Georgia was ranked in one of the leading positions.
The results showed that Georgia is again the leader in the list of the OECD's Index, and this has been going on for several years [...] The research revealed that Georgia, except for one component, is a leader in all directions and this is the primary priority. The second priority is digitisation, and Georgia is successful in many directions in this regard”, he said.
The official added strengthening SMEs should remain a “priority” direction of the Government’s policy.
Since 2015, we have seen a significant improvement - the average productivity has increased by 23 percent - but there is still much to do to further expand production", Tompson noted.
The report covering Armenia, Azerbaijan, Georgia, Moldova and Ukraine placed the country at the top in 11 out of 12 categories, ranging from institutional and regulatory framework, operating environment, insolvency and second chances, entrepreneurial training and women's entrepreneurship.
Georgia has maintained the status of a frontrunner in the Small and Medium-Sized Enterprises Policy Index involving the European Union’s Eastern Partnership countries, with the latest ranking revealed by the Organisation for Economic Co-operation and Development on Wednesday.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Friday said access to finances was a “critical factor” for the success of micro, small and medium enterprises, in comments during the signing of a cooperation agreement between the domestic Terabank and the Netherlands Development Bank.
Georgian Deputy Economy Minister Irakli Nadareishvili on Wednesday said increasing the effectiveness of the small and medium-sized business sector was a “priority direction” of the Georgian Government’s economic policy.
Georgia has improved its position in all 12 categories in the SME Policy Index - 2020 published by the Organisation for Economic Cooperation and Development (OECD) since the previous report that was published in 2016, announces the Georgian Ministry of Economy.
Mikheil Khidureli, the CEO of Enterprise Georgia, the state agency promoting entrepreneurship, investment and exports, on Friday highlighted the Government’s “supportive mechanisms” to promote small and medium-sized enterprises in Georgia.
Paweł Herczyński, the Ambassador of the European Union to Georgia, on Friday highlighted the country’s “leading position” in the Small and Medium-Sized Enterprises Policy Index involving the EU’s Eastern Partnership countries.
Vakhtang Tsintsadze, the Georgian Deputy Economy Minister, on Friday said the country’s “leading position” in the Small and Medium-Sized Enterprises Policy Index involving the EU’s Eastern Partnership countries was a “recognition” of the Government's “successful” economic policy.