Country Snapshot -
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Eastern Europe & Central Asia
Lower middle income
Below are select highlights for the data included in the profile.
- Georgia is ranked 8th out of 189 economies in Doing Business 2014. Its overall score improved by one point in the aggregate ranking. A slight decline in starting a business has been offset by significant improvements in paying taxes, trading across borders, and resolving insolvency indicators. Georgia also implemented a positive reform that improved its credit information system by implementing a new law on personal data protection.
- According to the latest Enterprise Surveys data (2013), the top three business environments constraints experienced by private sector firms in Georgia are political instability, access to finance, and tax rates.
- Georgia is one of the most open countries to foreign equity ownership as measured by the World Bank Group Investing across Sectors indicators. In addition to that, Georgia (Tbilisi) is among the fastest countries in the world in terms of establishing a foreign-owned limited liability company, with only 4 procedures and 4 days.
- Georgia’s economic freedom score is 72.6, making its economy the 22nd freest in the Heritage Foundation’s Index 2014. Its overall score is 0.4 point higher than last year, with improvements in six of the 10 economic freedoms including the management of public finance, investment freedom, monetary freedom, and property rights. Georgia is ranked 12th out of 43 countries in the Europe region, and its score is well above the regional average.*