1. The World’s Leading Reformer
Georgia’s aggressive reforms are reflected in significant increases in its ranking on international indices that measure various aspects of the business climate.
The World Bank’s Doing Business in 2007 report ranked Georgia as the number one reformer in the world in improving the ease of doing business. The country leaped forward an unprecedented 75 places in one year, moving from 112th to 37th place out of 175 countries surveyed.
- The Business Environment and Enterprise Performance Survey (BEEPS), a joint initiative of the EBRD and the World Bank, states that Georgia saw the largest reduction in corruption among all transition countries in 2002-2005.
- According to the Heritage Foundation’s Index of Economic Freedom for 2007, Georgia ranked 35th out of 161 countries (20th out of 41 counties in the European Region). Georgia scored above world average in 7 out of 10 indicators, with particularly high ratings in business freedom, fiscal freedom, freedom from government, and labor freedom. Georgia’s overall rank is expected to improve even more in 2008.