Georgian ranked 9 in Europe and Central Asia by ease of doing business
01 November, 2017
Georgian ranked 9 in Europe and Central Asia by ease of doing business
Doing Business 2018: Reforming to Create Jobs ranks Georgia on 9th place among world's 190 countries, highest in Europe and Central Asia. Georgia’s score improved by 2.12 points to make up 82.04 points, and the country has advanced from 16th to 9th place. Compared to 2017, in 2018 Georgia surpassed countries like Sweden, Macedonia, Estonia, Finland, Australia, Taiwan (China), and Latvia. Georgia remains exceptional in Europe and Central Asia as a country that has taken important steps toward better and
more effective regulations. Country’s success in the World Bank’s rankings has been predetermined by the Government’s effective and coordinated work. The Government of Georgia has implemented, and continues to implement, reforms that further advance Georgia’s position in the World Bank’s ratings for next year. Notably, Georgia’s positions have improved in 5 indicators:

• Starting a business: 4th place (8th in 2017)
• Getting electricity: 30th place (39th in 2017)
• Protecting minority investors: 2nd place (7th in 2017)
• Enforcing contracts: 7th place (16th in 2017)
• Resolving insolvency: 57th place (106th in 2017)

Compared to the 2013 Doing Business Report (which was published in 2012), Georgia’s positions have improved in the following 6 indicators:

• Starting a business: 4th place (7th in 2013)
• Getting electricity: 30th place (50th in 2013)
• Protecting minority investors: 2nd place (19th in 2013)
• Paying taxes: 22nd place (33rd in 2013)
• Enforcing contracts: 7th place (30th in 2013)
• Resolving insolvency: 57th place (81st in 2013)

The 2013 report ranked Georgia 9th. It should be noted, however, that Doing Business changed its methodology after 2013 (qualitative indicators were added to simplicity and speed indicators) and recalculated the results of the previous years.
geotv.ge
Georgia’s 9th place according to the 2013 report now equaled 23rd. Accordingly, the country has advanced by 14 points compared to 2013. The significant success in the 2018 ranking and the country’s international recognition stem from the reforms implemented by the Government of Georgia.

Doing Business finds that Georgia implemented substantive changes in the local regulatory framework in the following areas in 2016-17:

Getting electricity was made more affordable, by reducing connection costs for new customers.

Protections for minority investors were strengthened. This was achieved by making it easier to sue directors in cases of prejudicial transactions between interested parties, by increasing shareholder rights and their role in major corporate decisions, and by clarifying ownership and control structures.

Resolving insolvency was made easier, by making insolvency proceedings more accessible for debtors and creditors, by improving provisions on the treatment of contracts during insolvency, and by granting creditors greater participation in important decisions during the proceedings.

“With tangible reforms implemented in three key areas this year – making electricity more affordable, strengthening minority investor protections, and making resolving insolvency easier – Georgia continues to be a top reformer in the Europe and Central Asia region, and is poised to accelerate inclusive and sustainable growth,” said Mercy Tembon, World Bank Regional Director for the South Caucasus. “We commend the Government of Georgia for this remarkable achievement and encourage them to maintain this momentum.”

The full report and its datasets are available at www.doingbusiness.org

EU supported rural development project is launched in Khulo Municipality

Young farmers and the EU reviving Georgian agriculture

The shortest route between Europe and Asia running through Tbilisi opens
Print
Other Stories
EU to allocate € 13 billion for Eastern Partnership countries, including Georgia
The European Union together with the World Bank plans to allocate investment worth € 13 billion for infrastructure projects in the Eastern Partnership countries.
Anaklia Port and its importance for Georgia
In 2016, Anaklia Development Consortium was authorized to launch the construction of Anaklia Port.
Cryptocurrency mining threatens electrical network in Abkhazia
In the breakaway region of Akbhazia rampant cryptocurrency mining is threatening the shaky electrical network, reports an article of the news portal EuroNet.
Caucasus Wine University to be opened in Gurjaani
In the Kakheti region a new viticulture campus of the Caucasus University is in the process of planning.
Photos describing life of the poorest in Georgia
Fight with poverty should be among top priorities of every government in every country.
Training farmers to rescue the organic hazelnut production in Georgia
Even drizzling rain and unpleasant gusts of wind can’t prevent the farmers from coming and participating in the agricultural training.
Bleak times for organic farmers in Georgia – but there is hope
Organic hazelnut production is a delicate plant in Georgia that has emerged just a couple of years ago. Various pests, among them the Asian stink bug Parosana, trouble hazelnut farmers and menace their livelihood – even before their businesses could really take off.
Hybrid car imports are going through the roof in Georgia
Thanks to their fuel economy, the popularity of hybrid cars is increasing in Georgia, where fuel affordability is low and prices for fuel are unstable.
The New Year offer from MAQRO Construction - Apartments with unbelievable discounts and the parking spaces for FREE!
Location, green yard, spaces for various needs, experience of the construction company and parking space are the main important criteria for potential buyers of apartments.
Interview with the co-founder of Kiwi Vegan Café – the first vegan place in Tbilisi
Behind the Kiwi Vegan Café stands a group of activists who wants to raise Georgian’s awareness for animal rights and welfare.
Biblusi opens first shop for tourists - Georgian
The largest book shop in Georgia Biblusi opens the first shop specially designated to the needs and interests of tourists and named it Georgian.
Georgia improves by five ranks in the Prosperity Index
In the overall Prosperity Index rankings, Georgia has climbed by 5 positions from 85 to 80 when compared to last year. As such, Georgia is the best performing country in the CIS zone.
The future is bright for electric cars in Georgia
The numerous hybrid cars in the streets of Tbilisi cannot be overlooked. Entrepreneur Sulkhan Gvalia calls them “pagers”, referring to the predecessor of mobile phones.
Georgia’s fight against the big tiny enemy – Asian Parosana
It’s a tiny creature, but the harm it did to the Georgian agriculture sector was and still is immense.
New cable route: from Kobi to Gudauri in 15 minutes
On the 15th of December, cable transport is scheduled to be opened connecting Kobi and Gudauri.
Tourist boom in Gudauri – majority of hotels are booked by foreigners
Gudauri is among the most popular winter resorts in Georgia.
Medical tourism increases in Georgia
In the last 9 months, Georgia was visited by 19 500 foreigners for medical and recovery purposes.
Doing business in Georgia has become easier than in America
According to the Doing Business 2019 report published by the World Bank, Georgia ranked 6th among 190 countries in terms of simplicity of doing business. This was an improvement over two ranks compared to last year.
Problems that foreigners frequently face in Georgia
The importance of Georgia as a tourism hub is growing year after year.
Tbilisi TV Broadcasting Tower – Better than the Eiffel Tower?
It is planned to renovate the Tbilisi TV Broadcasting Tower, one of the landmarks in the capital.
Georgian Fusion Menu by The Biltmore Hotel Tbilisi
5,895,914 international visitors have visited Georgia between January and August of 2018. Compared to the previous year the number has increased by 12.2 per cent.
Advertising of gambling and lucrative games may become banned in Georgia
Advertising of gambling and lucrative games may become banned in Georgia. Those who violate the new rule would be fined GEL 10 000.
Lebanese café-lounge Beirut opens in Tbilisi
What is necessary to organize an unforgettable event? – Fun, emotions, lots of surprises, good music and delicious menu.
Georgia second among the fastest growing tourist destinations in Europe
Georgia is among the fastest growing tourist destinations in Europe. The data is published by the UN World Tourism Organization.
Bitmain launches world digital mining summit in Tbilisi, Georgia
Bitmain CEO Jihan Wu and Roger Ver, CEO of Bitcoin.com Head Speaker List featuring Circle, DEX.top and Genesis Mining when Digital Mining Leaders Convene In Tbilisi on September 21-23
PHOTO OF THE DAY

Exchange Rates
GEL Exchange Rate
Convertor
15.01.2019
16.01.2019
USD
1
USD
2.6650
2.6644
EUR
1
EUR
3.0546
3.0449
GBP
1
GBP
3.4227
3.4203
RUB
100
RUB
3.9631
3.9687
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
2.6644
EUR
1
EUR
3.0449
GBP
1
GBP
3.4203
RUB
100
RUB
3.9687
January 2019
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31