Georgia achieves remarkable progress in boosting competitiveness of its economy (Exclusive)

Baku, Azerbaijan, October 2

By Tamilla Mammadova – Trend:

Georgia has made remarkable progress in boosting the competitiveness of its economy, a representative of the Organization for Economic Co-operation and Development (OECD) told Trend.

"Last year, Georgia entered the top 10 countries in the latest World Bank Ease of Doing Business Ranking. The achievement highlights the continued efforts by the Georgian government to build well-functioning institutions that support economic growth", said OECD.

According to the organization, continued improvements in the enforcement of contracts, protection of property rights and implementation of e-government initiatives help Georgia to reach its economic potential.

"Despite the impressive progress, much work remains to be done. High levels of especially rural poverty and unemployment together with a large grey economy (estimated by the IMF at 53 percent of the GDP) undermine Georgia's growth potential", said the organization.

As noted, in terms of the institutional framework, the legal framework for competition law remains underdeveloped, undermining a level playing field for all economic actors.

"By providing guidance and evaluation, OECD continues to support the Georgian government to design and implement reforms that enhance the business environment, especially for small and medium-sized businesses. Much can yet be done in fields like education to make growth more inclusive", said the representative of the organization.

The Organization for Economic Co-operation and Development is an intergovernmental economic organization with 36 member countries. It was founded in 1961 to stimulate economic progress and world trade.

Georgia reports 1,673 new coronavirus cases
Georgia reports 1,673 new coronavirus cases
Georgia decreases export to Kazakhstan amid COVID-19
Georgia decreases export to Kazakhstan amid COVID-19
Prime Minister of Georgia votes in parliamentary elections
Prime Minister of Georgia votes in parliamentary elections
Loading Bars
Latest
Reports about shelling of Shusha by Azerbaijani army - another lie, MoD says
Azerbaijan's largest loans share falls on household sector
Azerbaijan's PM meets Pakistani ambassador
Armenian reports on missile attack on Khankendi by Azerbaijani army - lie, says MoD
Azerbaijan develops website to fight spread of Armenian fake news
Presence of PKK terrorists in ranks of Armenian Armed Forces - fact, says president's aide
Iran reveals value of fishery products exported from Gilan Province
Turkmen MFA opens tender for supply of technical equipment
October conscription for active military service ends in Azerbaijan
Georgia reports 1,673 new coronavirus cases
Uzbekistan reveals its COVID-19 data for October 31
Georgia decreases export to Kazakhstan amid COVID-19
Turkmenistan, Denmark's Haldor Topsoe continue discussions on gasoline plant construction
Azerbaijani-Iranian border outposts reopen after being liberated from Armenian occupation
Some international organizations silent on crimes committed by Armenia - expert
Another earthquake strikes Turkish Izmir Province
Prime Minister of Georgia votes in parliamentary elections
Iran's per capita income declines
Turkmenistan considers opportunities to attract investment to Caspian Sea
Azerbaijani, Georgian experts discuss issues on agenda via teleconference (VIDEO)
Turkmenistan improves transport infrastructure
Iranian currency rates for October 31
Armenian Armed Forces fire at Azerbaijani Aghjabadi district's village
Georgian President Salome Zourabichvili votes at parliamentary elections
Local and international election observer organizations monitor parliamentary elections in Georgia
Parliamentary elections being held with new election system in Georgia
Parliamentary Elections being held in Georgia
Azerbaijani products to be showcased at int’l exhibition in Shanghai
Azerbaijan's income from sales of pharmaceutical products increases
Propylene production grows in Azerbaijan
Azerbaijan investing in alternative energy dev't
Azerbaijan denies accusations on use of weapons prohibited by international law
Azerbaijani army fires back at Armenia firing points, which shelled Gubadli - MoD
Latest situation on battlefield on October 31
Azerbaijani Defense Ministry lists Armenian military equipment destroyed
Azerbaijani Tartar, Aghdam, and Aghjabedi districts come under artillery fire
Brazil's COVID-19 cases top 5.5 million with 159,477 deaths
24 dead in Izmir as magnitude 6.6 quake shakes Turkey’s west coast (UPDATE)
U.S. says Iranian hackers behind threatening emails accessed voter data
Israel's COVID-19 cases up by 587, tally reaches 313,701
Trump derides doctors as COVID surges, Biden says Trump 'giving up' on virus
Protesters clash with police over COVID-19 restrictions in Barcelona
U.S. COVID-19 cases surpass 9 mln -- Johns Hopkins University
COVID-19 remains public health emergency of international concern: WHO
Meeting of Jeyhun Bayramov with OSCE MG Co-Chairs and Armenian FM ends
Azerbaijan, Armenia reach new agreements following talks in Geneva
First Vice-President Mehriban Aliyeva offered condolences to relatives and loved ones of those killed as a result of earthquake in Izmir (PHOTO)
Azerbaijani army does not fire at civilians - MoD
Franck Muller founder engaged in illegal gold exploration in occupied territories of Azerbaijan – top official
Priests also fighting in ranks of Armenian Armed Forces (PHOTO)
Business confidence forecast to deteriorate in Georgia
Venture funds to be created in Uzbekistan to finance innovative developments
Trade turnover between Ukraine and Georgia decreases
Roads connecting number of Azerbaijan’s Agsu settlements reconstructed (PHOTO)
All climate resources must be mobilized to tackle global warming, UK Ambassador Laurie Bristow
Banking sector of Azerbaijan looks more stable than predicted - CBA chairman
Azerbaijan destroys another "Osa" anti-aircraft missile system of Armenian troops (VIDEO)
UK's coronavirus reproduction number drops slightly to between 1.1 and 1.3
Azerbaijani, Armenian FMs, OSCE MG Co-Chairs holding Karabakh talks in Geneva
Armenia's attack against Barda is crime against humanity perpetrated in widespread manner - Azerbaijani embassy in Canada
Azerbaijani embassy to Canada condemns speeches in House of Commons as they support war crimes
Armenia-inflicted damage on culture in occupied Azerbaijani territories would soon be irreversible - Modern Diplomacy report
Situation at front - under Azerbaijani Armed Forces’ control - Defense Ministry
Fire brigade extinguishes fire in Azerbaijan’s Goranboy due to Armenian Armed Forces’ artillery strikes
I don't know how efficient meetings are going to be now with regard to Armenian leadership - President Aliyev
President Ilham Aliyev's response call for Armenia: Recognize Nagorno-Karabakh
Azerbaijani PM phones Turkish VP regarding recent earthquake
Turkey already engaged in Karabakh settlement, whether Armenia likes it or not - President Aliyev
Azerbaijan destroys Armenian military equipment with precise strikes (VIDEO)
Armenia fires Smerch missile at Alasgarli village of Azerbaijani Tartar region
President Aliyev says Pashinyan lies about Pakistani, Turkish forces fighting for Azerbaijan
President Aliyev talks online footage of armed clashes, Azerbaijan's military potential
If Armenia got sanctions imposed on it as with Iraq, conflict would've been resolved long ago - president
Armenian side has no moral norms, no honor or dignity - President Ilham Aliyev
News about earthquake in Turkey’s Izmir saddens Azerbaijan – FM
Azerbaijan prepares new draft laws in renewable energy field
Central Bank of Azerbaijan reveals forecast for inflation in country
If someone willing to create second Armenian state, let them give away part of their own territory - Azerbaijani president
When three nuclear powers cannot exert pressure on Armenia, this raises questions - President Aliyev
Armenia sending convicts to fight in Karabakh conflict
Azerbaijani Embassy in Turkey opens hot line in connection with earthquake in Izmir
Combining efforts of Turkey and Russia to benefit region - President of Azerbaijan
What's happening now - results of Armenian PM Pashinyan's activity, says Azerbaijani president
President Ilham Aliyev expresses condolences to President Recep Tayyip Erdogan
Missile attacks on Barda by Armenian Armed Forces heavily damage local business entities (PHOTO)
Gold, silver prices in Azerbaijan down
Every human life is priceless, our losses are minimal - Azerbaijani president
If Azerbaijan agrees on political settlement, Armenia must withdraw from Kalbajar, Lachin and part of Aghdam immediately - president
Armenia says one thing to mediators, then does something completely different - President Aliyev
Azerbaijan destroys 2 more 'Smerch' rocket launchers of Armenian troops - MoD (VIDEO)
President Ilham Aliyev talks Armenian troops killed during recent military clashes
Georgian Tegeta motors opens “Toyota center” in Batumi
Armenia refuses to hand over body of 84-year-old Armenian to his family
Uzbekistan increases profitability of its textile exports
Kazakhstan's Nostrum Oil & Gas reveals revenues forecast for 9M2020
Meeting between FMs of Azerbaijan, Armenia kicks off in Geneva
Russian leading list of countries of main wine importers to Georgia
Azerbaijan shows footage of liberated Khudaferin village (VIDEO)
Provocation of Armenian delegate suppressed during EU video conference (PHOTO)
MFA receives no info on Azerbaijani citizens among quake casualties in Turkish Izmir yet
All news