Georgia’s Progress in Doing Business 2018 Recognized at Washington Conference
Georgia’s achievement in the World Bank’s annual report Doing Business 2018 (DB 2018), was recognized at the conference “Fifteen Years of Doing Business: Opportunities for Future Directions,” held on Friday in Washington DC.
The participants of the conference, which reviewed the Doing Business Indicators of the past 15 years, recognized that Georgia is the easiest place in emerging Europe to do business, as was shown by the Doing Business Report 2018.
Deputy Chief of Mission at the Embassy of Georgia, Giorgi Tsikolia, participated in the conference and highlighted Georgia’s achievements in creating its business friendly environment.
Georgia significantly improved its position in the DB 2018 report, coming in at 9th place out of 190 countries, improving its position by 7 points. Previously, Georgia was in the 16th position.
In DB 2018, Georgia's score improved by 2.12 points and reached 82.04 points.
In the report, Georgia came ahead of countries such as Sweden, Macedonia, Estonia, Finland, Australia, Taiwan (China), and Latvia, compared to the previous year’s report.
Moreover, compared to the Doing Business 2013 report published in 2012, in the DB 2018, Georgia has improved its position by 14 points.
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.
The conference “Fifteen Years of Doing Business: Opportunities for Future Directions” was held at the Center for Strategic and International Studies in Washington.
Thea Morrison