Georgia has ranked 7th among 190 countries in the World Bank Doing Business 2020 ranking, preceding the states like the UK, Norway and Sweden.
Last year Georgia ranked 6th on the list.
“For starting a business, for example, Georgia and New Zealand have the lowest number of procedures required, the survey reads, adding that “dealing with construction permits Georgia improved its building quality control by increasing public access to information.”
Georgian Economy Minister Natia Turnava says that the 83.7 score is the “historic maximum” for Georgia.
“Georgia remains to be the regional leader for doing business, the first amongst the 23 countries of Europe and Central Asia,”she said.
Doing Business has captured 294 regulatory reforms carried out between May 2018 and May 2019. Worldwide, 115 economies made it easier to do business, the World Bank said. Doing Business ranking was launched in 2002, looking at domestic small and medium-size companies and measuring the regulations applying to them through their life cycle.
The World Bank says that its Doing Business project provides “objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.”
