Georgia ranked 16th in the World Bank's Doing Business 2017

Tbilisi, October 26 201615:17 - REGNUM In the World Bank's annual Doing Business 2017 report, Georgia improved its position by 7 points and moved from 23rd place to 16th. First Deputy Prime Minister, Minister of Economy and Sustainable Development of Georgia Dmitry Kumsishvili and Regional Director of the World Bank in the South Caucasus Mercy Tembon announced this at an information briefing in the administration of the Georgian government on October 26.

According to Dmitry Kumsishvili, in the Europe and Central Asia region, Georgia ranks third among the countries with the highest ratings (after Macedonia and Latvia). “I am glad that Georgia is among those 10 advanced countries that have significantly improved their indicators on a global scale. Accordingly, according to the report for 2017, Georgia was named as a country - the leader of the region in terms of reforms implemented, ”the Deputy Prime Minister said.

According to him, the current success of Georgia is due to the coordinated and effective work of the government. For 5 reforms that are important for the purposes of the ranking, Georgia entered the top ten reformers.

Compared to last year, Georgia bypassed such countries as Germany, Ireland, Austria, Iceland, Lithuania, Canada, Malaysia, Poland, Portugal and others. She left behind Kazakhstan, Russia, Belarus, Armenia, Azerbaijan, Ukraine and other countries.

According to 5 indicators of this rating, Georgia entered the top ten among 190 countries of the world. These are the registration of property (3rd place), obtaining a loan (7th place), protection of the rights of minority investors (7-3 place), starting a business (8th place) and building permits (8th place).

Georgian Prime Minister Giorgi Kvirikashvili also commented on the advancement in the World Bank rating. According to him, moving up 7 steps is a very big leap and will be an important signal for investors.