Georgia in Top 10 of 'Doing Business 2018'

Georgia has significantly improved its position in World Bank’s Doing Business 2018 (DB 2018) report, and came in 9^th place out of 190 countries, improving its position by 7 points. Previously Georgia was in the 16^th position.

In DB 2018 Georgia's score improved by 2.12 points and reached 82.04 points.

DB 2018 Top 10 list is as follows:

1. New Zealand
2. Singapore
3. Denmark
4. Korea
5. Hong Kong, China
6. US
7. Great Britain
8. Norway
9. Georgia
10. Sweden

In 2018, Georgia came ahead of countries such as Sweden, Macedonia, Estonia, Finland, Australia, Taiwan (China), and Latvia, compared to the previous year.

According to DB 2018, Georgia's rating has improved in the following 5 indicators:

1. Starting Business - 4th place (8th place in 2017)
2. Getting electricity - 30th place (39th place in 2017)
3. Protecting minority investors - 2nd place (7th place in 2017)
4. Enforcing contracts - 7th place (16th place in 2017)
5. Solving insolvency - 57th place (106th place in 2017).

Compared to the Doing Business 2013 report (which was published in 2012), this year Georgia has improved its position by 14 points and the rating has improved in the following six indicators:

1. Starting Business - 4th place (7th place in 2013)
2. Getting electricity - 30th place (50th place in 2013)
3. Protecting minority investors - 2nd place (19th place in 2013)
4. Enforcing contracts - 7th place (30th place in 2013)
5. Solving insolvency - 57th place (81st place in 2013).
6. Paying taxes – 22^nd place (33^rd place in 2013)

Mercy Tembon, Regional Director of the World Bank in the South Caucasus, said that Georgia is the top reformator in the region of Europe and Central Asia, which contributes to accelerating its inclusive and sustainable development.

Doing Business 2018 - Reforming to Create Jobs, a World Bank Group flagship publication, is the 15th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. 

Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies—from Afghanistan to Zimbabwe—and over time.

DB measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. DB also measures labor market regulation, which is not included in this year’s ranking.

Data in Doing Business 2018 are current as of June 1, 2017.

By Thea Morrison