EU Ambassador highlights Georgia's “leading position” in Small, Medium-Sized Enterprises Policy Index
The Ambassador noted the Index would help the EU to continue support for the development of SMEs, and added it would also help Georgia’s Economy Ministry to assess the “correctness” of implemented policies. Photo: Ministry of Economy
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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.
The Ministry of Economy said Herczyński, who attended the presentation on Friday of the SME Policy Index by the Organisation for Economic Co-operation and Development, assessed Georgia's success in the ranking.
The diplomat noted small and medium-sized businesses made up 99 percent of Georgian companies and employed up to 70 percent of the total workforce, and noted it was the “driving force” of the country’s economic development.
We are glad the EU is funding this very important analysis, which clearly shows Georgia's leadership in all directions when it comes to the development of small and medium-sized enterprises”, Herczyński added.
The Ambassador noted the Index would help the EU to continue support for the development of SMEs, and added it would also help Georgia’s Economy Ministry to assess the “correctness” of implemented policies.
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.
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.
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.
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.