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Ministry of Foreign Affairs of Georgia

 

Georgia - top reformer 2006

Georgia led the global top 10 reformer rankings on the ease of doing business in 2005–2006, according to a new report by the World Bank and the International Finance Corporation (IFC).

"Georgia made enormous improvements to many areas of its business regulations and jumped an astonishing 75 places in the rankings in just one year, moving from 112th place to number 37,” says Caralee McLiesh, a co-founder of the Doing Business project.Georgia’s jump in the rankings was the biggest in a single year by any country since the Doing Business report was launched four years ago.Georgia improved in six of the 10 areas studied by Doing Business 2007. The survey ranked 175 economies on the ease of doing business—covering 20 more economies than last year’s report.In addition to being the leading global reformer, Georgia was the leading reformer in three of the specific areas studied by the report: Dealing with licenses: The report looks specifically at construction licenses and permits, and this year Georgia created a one-stop shop for building permits.  Shorter time limits for the issuance of permits were introduced, and several unnecessary procedures were eliminated.  As a result, compliance with building regulations in Tbilisi is as now as easy as in Hong Kong.Enforcing contracts: Georgia established specialized commercial sections in the courts.  Also, the supreme court can now decide which cases to review.  Previously, it dealt with every case sent by the lower courts.  In addition, Georgia has been striving to reduce corruption in the courts by increasing judges’ salaries and more aggressively investigating corruption and taking disciplinary measures against judges.

 Employing workers: The new labor code eases restrictions on the duration of term contracts and overtime work.  The new law provides for one month’s severance pay, replacing complex     rules requiring varying notice periods and the involvement of labor unions and the Ministry of Labor.  Georgia also reduced the social security contributions paid on wages by businesses from 31% to 20%.  Together, these changes make Georgia the sixth easiest place to employ workers globally (after the Marshall Islands, United States, Singapore, Tonga, and the Maldives). 

In addition, Georgia made strides in increasing the ease of starting business.  Georgia reduced the minimum capital required to start a new business from 2,000 lari to 200 (US$85). As a result, business registrations rose by 55 percent from 2006 to 2006, reflecting both the creation of new businesses and the registration of companies formerly operating in the shadow economy.   In the area of getting credit, Georgia also has made some legislative changes to facilitate the exchange of credit information, and a private credit bureau began to support the exchange of information among banks.

http://www.doingbusiness.org/main/Top10Reformers.aspx

 
 
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