Deputy Economic Minister: Georgia's “leading position” in SME Index “recognition” of Gov’t’s “successful” economic policy
Paweł Herczyński, the Ambassador of the European Union to Georgia, and Lydia Christman, the Head of the Cooperation Development Department of the Embassy of Germany in the South Caucasus, also attended the presentation. Photo: Ministry of Economy
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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.
Tsintsadze, who on Friday attended the presentation of the SME Policy Index by the Organisation for Economic Co-operation and Development, said the index “once again confirmed” the country was an “undisputed leader” in the development of small and medium businesses compared to the states of the EU's Eastern Partnership.
The Georgian Ministry said the presentation made by the representative of OECD highlighted Georgia’s progress in the ranking, according to which the country was a leader in 11 out of the 12 directions and held the first position for the fourth time.
The body also added the OECD evaluated the SME Policy Index every four years and assessed countries according to five important areas such as responsible government, entrepreneurial human capital, access to finance, market access, innovation and business promotion.
It also said the event also discussed a joint project of OECD and the GIZ, the German Society for International Cooperation, for establishing an “appropriate ecosystem” for the digitisation of small and medium-sized businesses and increasing their competitiveness.
The presentation featured Daniel Quadbeck, the representative of the OECD, Tsisnami Sabadze, the National Coordinator of the OECD’s SME Policy Index from the Ministry, and representatives of the diplomatic corps and business associations.
Paweł Herczyński, the Ambassador of the European Union to Georgia, and Lydia Christman, the Head of the Cooperation Development Department of the Embassy of Germany in the South Caucasus, also attended the presentation.
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.
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.
Georgia’s Finance Ministry on Saturday hosted a meeting with experts of the European Commission, discussing the reforms envisaged by the Economic Reform Programme for the years 2024-2026.
Paweł Herczyński, the Ambassador of the European Union, on Wednesday said Georgia’s domestic business environment would “only improve” as the country edged closer to EU membership.