Georgia Ranks Highest in Region for Ease of Doing Business
A new World Bank Group report has given Georgia the highest ranking in the region for ease of doing business. According to the report, which was released on October 29th, 85 percent of economies in Europe and Central Asia implemented at least one regulatory reform aimed at making it easier for local entrepreneurs to do business in 2013/14, a larger percentage than in any other region.
Since 2005, Georgia implemented the largest number of reforms in the region, with 36 (second only to Rwanda worldwide), followed by the Former Yugoslav Republic of Macedonia with 34.
Doing Business 2015: Going Beyond Efficiency shows that in the past year, economies in Europe and Central Asia further improved the regulatory environment for local entrepreneurs, adding to the gains recorded in the past decade. For example, 10 years ago, starting a new business took a Macedonian entrepreneur 48 days. Today, the process can be completed in 2 days.