Georgia 28th Globally in Trace International Index of Freedom from Corruption Risk

Trace International has released new indicators about the risk of corruption in business. The organization assessed the risk of business corruption in 194 countries. They used a 100-point system where 100 points indicate a high and 0 points - low risk of corruption.

Based on the Trace International Index of Freedom from Corruption Risk, Georgia has improved its rating and is ranked 28th in the world and in the top 20 in Europe. The index shows that Georgia ranks 6th among 50 countries in Asia.

Notably, based on such a significant sub-component as "Freedom from Corruption in relations with Government" Georgia ranked first in the world and received the highest assessment. 

Georgia is ahead of 14 EU countries in terms of freedom from corruption risk: Italy, Poland, Hungary, Slovakia, Slovenia, Czech Republic, Latvia, Croatia, Greece, Romania, Bulgaria, Cyprus, Malta, Spain.

The rating evaluates countries based on 4 components, which in turn includes 9 sub-components.

In terms of business relations with the government, Georgia is ahead of countries such as Canada, Japan, Luxembourg, Ireland, USA, Austria, Belgium, France, Lithuania, Latvia, Poland, neighboring countries and others.

Georgia is ahead of France, Malta, Romania, Latvia, Armenia, Bulgaria, Slovakia, Belarus, Azerbaijan, Ukraine, Hungary, Turkey, Moldova, etc. in terms of anti-corruption legislation and enforcement.

Georgia is ahead of Italy, Israel, Malta, Czech Republic, Greece, Poland, Bulgaria, Slovakia, Croatia, Romania, Armenia, Azerbaijan, Turkey, etc. in terms of "Government and Civil Service Transparency."

In terms of the Civil Society Skills Supervision Index, Georgia is ahead of Romania, Ukraine, Moldova, Serbia, Hungary, Singapore, Turkey, Belarus, Azerbaijan, etc.

Based on the Business Bribery Risk Index by Trace International, the countries with the lowest corruption risks are Denmark, Norway, Finland, Sweden, New Zealand, Netherlands, Switzerland, Germany, United Kingdom, and Iceland. Consequently, these countries are in the top ten.

Regarding Georgia's neighboring countries and the region of Eastern Europe, the Czech Republic received the best score and took 38th place, while the highest risk was observed in Azerbaijan and it ranks 136th in the international ranking.

Trace international is a non-profit business association established in 2001 in the United States to assist the private sector (business companies and related parties) in pursuing anti-corruption policies.

"This is a very important success and indicates Georgia's high reputation in terms of freedom from corruption risk," said Deputy Minister of Finance Mikheil Dundua while assessing Georgia's position in the index of freedom from corruption risk produced by Trace International.

"All this, naturally, in the end, will be reflected in the direction that more investment will flow into Georgia. Today, business is protected in the country, the rights of investors are protected, and this will contribute to the development of the country, further enhance its reputation and, ultimately, economic prosperity," noted Dundua.

By Ana Dumbadze 

Source: Trace International

03 December 2020 15:36