The FINANCIAL — Natia Turnava: “Of two hundred countries, we are number six in terms of the ease of doing business. We are ahead of many European countries.”
Resume: Doing Business is the World Bank’s research study which has been conducted since 2004 and aims to assess the business environment in World Bank member countries. Doing Business measures ten components which affect doing business. Georgia’s rankings in the respective components are as follows: starting a business (2), dealing with construction permits (27), getting electricity (39), registering property (4), getting credit (12), protecting minority investors (2), paying taxes (16), trading across borders (43), enforcing contracts (8) and resolving insolvency (60).
In accordance with the Doing Business 2019 report which is based on a research study carried out from June 2017 to May 2018 and published on 31 October 2018, Georgia is ranked 6th from the world’s 190 countries. In 2017 Georgia’s ranking was 9th and in 2016 it was ranked 16th.
The top five countries in the Ease of Doing Business ranking are as follows: New Zealand, Singapore, Denmark, Hong Kong and the Republic of Korea (South Korea).
Analysis
As stated by the Minister of Economy and Sustainable Development of Georgia, Natia Turnava: “Of two hundred countries, Georgia is ranked sixth in terms of the ease of doing business and is ahead of many of its European peers.”
The Ease of Doing Business is the World Bank’s research study which has been conducted since 2004 and aims to assess the business environment in World Bank member countries. Doing Business assesses ten components which affect doing business. These components and Georgia’s respective rankings are given in Table 1.
Table 1: Ease of Doing Business Rank
Source: World Bank
In accordance with the 2019 Doing Business report, Georgia is ranked 6th from the world’s 190 countries.
In 2017 Georgia was ranked 9th and in 2016 it was ranked 16th.
The top five in the Ease of Doing Business ranking are as follows:
1. New Zealand
2. Singapore
3. Denmark
4. Hong Kong
5. Republic of Korea (South Korea)
Georgia’s rankings over the years can be found in Table 2.
Table 2: Georgia in the Ease of Doing Business Ranking, 2006-2019
Source: World Bank, Ministry of Economy and Sustainable Development of Georgia
Author – Vakhtang Demuria
