European Chamber published the list of the Best European Countries for Business 2019, which illustrated that Georgia has improved its position by 2 places and from the 18th place of 2018 it moved to the 16th position among the European countries. In 2019, Georgia’s strategic score is improved by 1,98 and equaled to 71,0 points.
The Best Countries for Business by the European Chamber gauges which countries have the best business climates and are most hospitable for capital investment. It is based on the World Bank’s Doing Business and the Transparency International Corruption Perception Index.
- According to the World Bank’s Doing Business 2019, Georgia has achieved unprecedented success and took the 6th place among 190 countries of the world. Compared to the previous year, the country’s position has been improved by 3 places, the rating points – by 0,48 points and the country reached its a historic maximum of 83,28 points in 2019;
- The Transparency International Corruption Perception Index 2019 revealed that the country’s rating scores have been improved and the country has advanced by 5 positions compared to the previous year and moved to 41st place among 180 countries with 58 points.
Georgia is the leader among the countries of the Best European Countries for Business 2019 ranking. Georgia is ranked ahead of the following countries: Lithuania (18th position), Latvia (19th position), Poland (20th position), Slovenia (22nd position), Czech Republic (23rd position), Slovakia (25th position), Belarus (27th position), Croatia (29th position), Macedonia (31st position), Hungary (32nd position), Turkey (34th position), Armenia (39th position) Kazakhstan (40th position), Moldova (42nd position), Russia (42nd position), Azerbaijan (44th position) and Ukraine (46th position).
Denmark is in the top of the list with 86 points, which is followed by Norway and Sweden, while the last, the 46th position is held by Ukraine.
The European Chamber’s 2019 survey evaluates the overall context of business, comprising the corporate environment, legislation, government policy, social environment and conditions that enable or disrupt private sector to start business, increase production in short as well as in long run.
The rating awards 0-100 point to the country, where 0 point is the worst indicator and the 100 points – the best.