The World’s Leading Reformer
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The World Bank hails Georgia’s meteoric four-year rise from 112th in 2005 to 15th on the 2009 World Bank Doing Business index as unprecedented. Since the World Bank began keeping records, says survey author Simeon Djankov, no other country has made so many deep reforms in so many different areas so consistently.
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| Strategic Geographic Location |
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Located at the crossroads of Europe and Central Asia, Georgia’s three major oil and gas pipelines, Black Sea ports, well-developed railway systems, together with its airports are playing an increasingly important role in linking East and West. |
| Stable Macroeconomic Environment |
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Consistent macroeconomic policies are producing strong economic growth, with GDP increases of close to 10% in 2005 and 2006, 12,4% for 2007 and 2.1% for 2008.
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| Liberal Trade Regimes |
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Georgia has low tariffs, streamlined border clearance procedures and preferential trade regimes with major partners, including the EU, CIS countries, the U.S. and Free Trade with Turkey. Member of the WTO since 2000 Georgia has no quantitative restrictions on trade.
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| Low Taxes |
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Fewer taxes, lower rates. The employer’s obligation to pay social tax was eliminated starting from Jan. 1, 2008, and a reduced rate was shifted to employees, entailing increase of personal income tax from 12% to 20%. Corporate income tax decreased from 20% to 15%. These changes make Georgia one of the most attractive tax regimes in the region.
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Developed Infrastructure
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In order to further exploit the full potential of the Georgia’s strategic location and encourage foreign investment in the sector, the Government of Georgia, in cooperation with private enterprises, continues to develop infrastructure – roads, railways, sea ports, and airports, while simplifying customs and other administrative procedures including licensing reforms.
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| World’s Leader in Labor Freedom and Labor Force Literacy |
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Georgia's new Labor Code, hailed as one of the world’s best in international rankings, reduces labor costs and gives greater freedom of contract to employers and employees. Simultaneously, Georgia offers the world’s most literate workforce, and very competitive prevailing wage rates.
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| Simplified Licensing and Permitting Procedures |
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The Government of Georgia is working hardly to sustain future development of the Economy of Georgia. New Financial and Economic acts have been adopted by the Parliament, which obviously will help to maintain strong economic growth in Georgia. |
| Successful Privatization Policy |
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Georgia’s government is aggressively privatizing state-owned property to attract private capital to state owned assets in order to introduce efficient management, increase investment and boost economic growth and jobs creation. The Government of Georgia received $266 million USD from privatization in 2007.
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| Diverse Investment Sectors |
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With the diversified investment sectors such as real estate & construction, agriculture, IT & telecommunications, infrastructure, tourism, banking & finances, healthcare & pharmaceuticals Georgia is not just a promise of a market, it is a genuine opportunity.
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