The Heritage Foundation ranks Georgia among world's business-friendly countries

13:09, 05.03.2021

Georgia is one of the world’s most business-friendly countries, reads the recent annual report of the Heritage Foundation, a research and educational institution whose mission is to build and promote conservative public policies.

“Georgia does a good job of not getting in the way of business owners and is one of the world’s most business-friendly countries,” says the report.

Property rights are recognized, and the government has streamlined property registration. Based on the report, Georgia’s economic freedom score is 77.2, making its economy the 12th freest in the 2021 Index. Its overall score has increased by 0.1 points, primarily because of an improvement in the government spending score.

Georgia is ranked 7th among 45 countries in the Europe region, and its overall score is above the regional and world averages.

“The Georgian economy suffered only a small setback this year in its long progression to the upper ranks of the mostly free category. Multi-year reforms to reduce corruption, cut regulation, and simplify taxes have led to upward movement in all aspects of economic freedom. Achieving a top-10 ranking, however, will require even more intensive efforts to improve perceptions of government integrity and judicial effectiveness,” reads the report.

By - Elene Dobordjginidze

Economics

Heritage Foundation