WB: Georgia most active country in reforming business regulation

WB: Georgia most active country in reforming business regulation

Georgia, Tbilisi, Nov. 4 / Trend N.Kirtzkhalia /

Among the world's 174 economies, Georgia improved its business environment the most in the last five years, according to Doing Business 2011: Making a Difference for Entrepreneurs, which is published by the International Finance Corporation and the World Bank.

Doing Business 2011 pioneers a new measure showing how much business regulation has changed in 174 economies since 2005, the WB Tbilisi Office told Trend.

According to this measure, Georgia has been the most active worldwide in reforming business regulation and is number-one on the list. Among the 174 economies covered by Doing Business, 85 percent of the economies have made it easier for local entrepreneurs to operate through 1,511 improvements to business regulation.

In 2010, Georgia made yet another step forward progressing to 12th from 13th globally in accordance with new methodology and remains the only Eastern European country in the top 15, setting the pace for business regulatory reforms. Georgia reformed in the following areas: closing a business, enforcing contracts, getting credit (legal rights), and protecting investors.

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