Economy Minister: Georgia’s Business Ready ranking “powerful message” to global business community

Georgian Economy Minister Levan Davitashvili on Friday said the country's third-place ranking in the World Bank’s inaugural Business Ready report was an “important international recognition” and a “powerful message” to the domestic and global business community.

He said the ranking reflected Georgia’s “favourable” business environment.

I am sure this will encourage more investors to make decisions to bring quality investments to Georgia”, Davitashvili said.

The Minister emphasised the Government’s commitment to further enhancing the business environment and attracting additional foreign investments to drive the country's development.

• Georgia tops World Bank's 2024 Business Ready report in labour, business location, dispute resolution

The Ministry of Economy said Georgia finished third among the 50 economies assessed this year, and was ahead of Portugal, Hungary, Slovakia, Croatia, and Montenegro. The country has surpassed Hong Kong and New Zealand, both of which were previously ranked higher in the Doing Business rating, the body added.

The Ministry said the report aimed to quantitatively and qualitatively assess the business environment for the development of the private sector. Georgia has “excelled” in seven out of 10 indicators, the report said, securing the top position in business location and labour indicators, second in dispute resolution, sixth in taxation and business insolvency, seventh in financial services, and 10th in international trade.