Business entry rates in the Caucasus and Central Asia region are much lower than in other regions, including sub-Saharan Africa, but Georgia is a notable exception, says the report of the International Monetary Fund (IMF).
IMF says that the success of structural reforms, including those implemented in the early 2000s and in recent years, have resulted in continuously higher rates of new business entries in Georgia.
Also, the report says that private investment is also higher in Georgia than the regional average.
To note, Georgia has moved up again in the Doing Business Ranking of the World Bank to 6th place from 9th place last year.
Another data set from the National Statistics Office of Georgia showed that 4,071 enterprises were registered in Georgia in September 2018 alone.
IMF report says that by 2023, Georgia has the opportunity to reach the development level of eastern and central European countries.
