Doing Business 2010: Georgia Ranks 11th Globally on the Easy of Doing Business
A record 131 economies around the globe formed business regulation in 2008/09, cording to the Doing Business 2010 report, prepared by world's largest sources of funding international Monetary Fund and World Bank. Georgia ranks 11th globally on the ease doing business, by implementing reforms in two areas: dealing with construction permits and trading across borders.
That is more than 70 percent of the 183 economies covered by the report— the largest share in any year since the annual report was first published in 2004. And this progress came against the backdrop of a global economic crisis.
Doing Business 2010: Reforming through Difficult Times recorded 287 reforms between June 2008 and Maу 2009, up 20 percent from the previous year. Reformers around the world focused on making it easier to start and operate businesses, strengthening property rights, and improving commercial dispute resolution and bankruptcy procedures.
“Business regulation can affect how well small and midsize firms cope with the crisis and seize opportunities when recovery begins,” said Penelope Brook, Acting Vice President for Financial and Private Sector Development for the World Bank Group. “The quality of business regulation helps determine how easy it is to reorgonize troubled firms to help them survive difficult times, to rebuild when demand rebounds, and to get new businesses started.” Georgia eased the process for dealing with construction permits by introducing a simplified process for obtaining confirmation from utilities, a risk-based approval process for building permits, and new time limits for the occupancy certificate. The documentation requirements for import and export were simplified, and there was a significant decrease in the cost of trade.
Areas of Reform: Dealing with construction permits, Trading across borders
Rank in Doing Business 2010: 11
